SUDBURY, Ontario--(BUSINESS WIRE)--
Houston Lake Mining Inc. (HLM.V)
Highlights:
-
Diamond Drill Hole (DDH) PL-010-14 intersected 2.01% Li2O
over 60.70 metre (m) from 168.3m to 229 m;
-
DDH PL-010-14 includes a 22 m wide lithium zone (Lower Intermediate
[LIZ]) averaging 2.46% Li2O from 171 to 193 m;
-
DDH PL-010-14 and DDH PL-008-14 increases the deposits strike
length from 265m to 400m; and
-
Mineralization remains open to depth and along strike to the
northwest and southeast.
Houston Lake Mining Inc. (HLM.V), is a mining exploration
company that is specialized in rare-metals and is actively exploring for
lithium (Li), tantalum (Ta), rubidium (Rb) and cesium (Cs) by focusing
on its high-grade, 100% owned and optioned 4,032 hectare (9,963 acre)
PAK Rare Metals Project in Northwestern Ontario, Canada. HLM is pleased
to announce the results of five (5) drill holes designed to test along
strike from the 2014 Phase II, nine-hole Diamond drill program on the
Pakeagama Lake pegmatite. The assay and collar data for the 5 holes
reported are presented in Tables I and II.
The primary objective of these holes was to test the deposit along
strike from previously drilled holes. The intersection summaries for the
two drill holes outlined in Table I below have confirmed continuity of
the zones. DDH PL-010-14 was drilled ESE of PL-001-13 (Phase I drill
program) and extended the strike length by approximately 56m to the ESE
and also further defined the bounding contacts with the host rock(s).
DDH’s PL-007-14 and 008-14 were drilled WNW of PL-003-14 and although
some relative pinching of the pegmatite has occurred the holes have
extended the strike length by approximately 110m to the WNW from the
current inferred resource estimate. Table I summarizes the lithium,
cesium, tantalum and rubidium grades for the two drill holes by
mineralogical zones for the pegmatite intersections.
Table I – Core Length Intercepts (Pakeagama Lake pegmatite)
|
|
DDH PL-010-14
|
|
Designed to test continuity of zoned pegmatite zones along strike
(approx. 56m ESE) of DDH’s PL-001-13 and PL-009-14 where only
overburden is observed from surface.
|
|
Zone
|
|
Width (m)
|
|
Li2O (%)
|
|
Ta2O5
(ppm)
|
|
SnO2 (ppm)
|
|
Nb2O5 (ppm)
|
|
Rb2O (%)
|
|
Cs2O (%)
|
|
Geology
|
|
Rubidium, Tantalum and Lithium enriched zones
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
62.30 – 76.60 m
|
|
14.30
|
|
n/a
|
|
94
|
|
37
|
|
38
|
|
0.95
|
|
0.10
|
|
CIZ
|
|
|
87.00 – 94.95 m
|
|
7.95
|
|
1.03
|
|
54
|
|
72
|
|
45
|
|
0.47
|
|
0.06
|
|
LIZ
|
|
Lithium, Rubidium and Tantalum enriched zones
|
|
|
|
|
|
|
|
|
|
|
168.30 – 229.00 m
|
|
60.70
|
|
2.01
|
|
108
|
|
139
|
|
65
|
|
0.38
|
|
0.04
|
|
LIZ/WZ
|
|
including
|
171.00 – 193.00 m
|
|
22.00
|
|
2.46
|
|
62
|
|
82
|
|
37
|
|
0.43
|
|
0.05
|
|
LIZ
|
|
including
|
193.00 – 227.00 m
|
|
34.00
|
|
1.82
|
|
146
|
|
182
|
|
87
|
|
0.35
|
|
0.054
|
|
LIZ/WZ
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DDH PL-007 -14
|
|
Designed to test continuity of pegmatite along strike
(approximately 56 m WNW of DDH PL-13-003) and collared from
NNE.
|
|
Zone
|
|
Width (m)
|
|
Li2O (%)
|
|
Ta2O5 (ppm)
|
|
SnO2 (ppm)
|
|
Nb2O5 (ppm)
|
|
Rb2O (%)
|
|
Cs2O (%)
|
|
Geology
|
|
Pegmatite incl. metasediment and granite sheets/rafts
|
|
|
3.60 - 22.60 m
|
|
19.00
|
|
1.07
|
|
105
|
|
427
|
|
64
|
|
0.24
|
|
0.010
|
|
Pegmatite
|
|
|
including 3.60 - 14.00 m
|
|
10.40
|
|
1.80
|
|
92
|
|
77
|
|
72
|
|
0.33
|
|
0.010
|
|
LIZ/Aplite
|
|
Lithium plus Tantalum and Rubidium enriched zones
|
|
|
|
|
|
|
|
|
|
70.85 – 87.90 m
|
|
17.05
|
|
1.44
|
|
115
|
|
72
|
|
97
|
|
0.14
|
|
0.021
|
|
Aplite/ LIZ/UIZ
|
|
including 82.00 - 87.90 m
|
|
5.00
|
|
2.48
|
|
75
|
|
104
|
|
61
|
|
0.22
|
|
0.030
|
|
LIZ/UIZ
|
|
99.00 – 120.25 m
|
|
21.25
|
|
0.53
|
|
188
|
|
589
|
|
132
|
|
0.20
|
|
0.040
|
|
Aplite/LIZ/ Granite/UIZ
|
|
including 99.00 - 112.65 m
|
|
13.65
|
|
0.76
|
|
250
|
|
899
|
|
187
|
|
0.25
|
|
0.050
|
|
Aplite/LIZ/ UIZ/Granite
|
|
|
|
|
|
DDH PL-009 -14
|
|
Short hole designed to test to the SSE (obliquely) of PL-001-13 to
determine if the pegmatite exists beyond the visible surface
exposure.
|
|
Zone
|
|
Width (m)
|
|
Li2O (%)
|
|
Ta2O5 (ppm)
|
|
SnO2 (ppm)
|
|
Nb2O5 (ppm)
|
|
Rb2O (%)
|
|
Cs2O (%)
|
|
Geology
|
|
Rubidium, Tantalum and Cesium enriched zones
|
|
38.50 - 64.60 m
|
|
26.10
|
|
0.81
|
|
108
|
|
242
|
|
40
|
|
0.78
|
|
0.100
|
|
CIZ
|
|
Rubidium enriched zone
|
|
|
|
|
|
|
|
|
|
42.30 - 54.65
|
|
12.35
|
|
0.85
|
|
84
|
|
318
|
|
28
|
|
1.00
|
|
0.110
|
|
CIZ
|
|
89.25 – 96.50 m
|
|
7.25
|
|
0.62
|
|
53
|
|
52
|
|
29
|
|
0.95
|
|
0.100
|
|
CIZ
|
|
Lithium enriched zone
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100.35 – 106.50 m
|
|
6.15
|
|
1.77
|
|
131
|
|
94
|
|
69
|
|
0.37
|
|
0.060
|
|
LIZ
|
|
|
|
|
|
DDH PL-008 -14
|
|
Designed to test continuity of pegmatite along strike
(approximately 67 m WNW of DDH PL-007-14) and collared from
NNE.
|
|
Zone
|
|
Width (m)
|
|
Li2O (%)
|
|
Ta2O5 (ppm)
|
|
SnO2 (ppm)
|
|
Nb2O5 (ppm)
|
|
Rb2O (%)
|
|
Cs2O (%)
|
|
Geology
|
|
Total Pegmatite
|
|
|
89.00 - 107.00 m
|
|
18.00
|
|
0.66
|
|
271
|
|
149
|
|
126
|
|
0.19
|
|
0.130
|
|
LIZ/Aplite
|
|
Tantalum, Lithium and Cesium enriched zones
|
|
|
|
|
|
|
|
|
|
89.50 –92.00 m
|
|
2.50
|
|
1.94
|
|
829
|
|
156
|
|
87
|
|
0.28
|
|
0.640
|
|
LIZ/Aplite
|
|
|
|
|
|
DDH PL-014 -14
|
|
A stratigraphic hole designed to delineate the contact between the
2-mica Pakeagama Lake granite and the host metasediments
(approximately 110 m ENE of DDH PL-010-14).
|
|
-No significant results-
|
|
(1) The intervals in Table I are drill intersection widths.
There is currently insufficient data to determine the true thickness of
the pegmatite.
(2) Li20
content in the CIZ is predominantly associated with lithian micas and to
a lesser extent (if any) in spodumene. Li2O
content in the Li enriched zones is predominantly associated with
spodumene.
n/a = Not applicable
The Upper Intermediate (UIZ), Central Intermediate (CIZ) and Lower
Intermediate Zones (LIZ) were previously described in the July 2, 2013
Press Release. Zones of sodic aplite are present in all holes and vary
in width from tens of centimetres to several metres, and contain
significant concentrations of Ta, Rb and Cs.
Noteworthy observations are that the NNE (footwall) boundary with the
metasediments is consistent and predictable while the SSW (hanging wall)
contact with the granite is somewhat erratic and complicated by granitic
blocks and rafts and appears to have been variably affected
(metasomatized) by the pegmatite intrusion event(s). The mineralized
pegmatite remains open along strike to the WNW and ESE, and at depth.
Granitic blocks/rafts mapped on surface appear to diminish with depth.
“These drill holes were planned with an objective of potentially
increasing the strike length of the deposit. The September 24, 2014
press release which positively displayed that the pegmatite’s grade x
thickness is persisting with depth, coupled with the results from this
press release have increased the overall geometry and should result in a
tonnage increase to the maiden resource estimate,” commented Trevor R.
Walker, President of HLM. “We are extremely pleased with the overall
results from the Phase II Diamond drill program and can conclude that
the Pakeagama Lake pegmatite is robust with analogous features to the
high grade, multi-element, and large tonnage of the prolific Tanco
pegmatite in southeastern Manitoba and the Greenbushes pegmatite in
Western Australia.”
Table II– Collar Locations for Diamond Drill Hole (DDH)
|
|
|
|
|
|
|
|
|
|
|
|
DDHNo
|
|
NAD83 (Zone 15N)
|
|
Elevation (mASL)
|
|
Azimuth
|
|
Inclination
|
|
Total Depth (m)
|
|
|
Easting
|
|
Northing
|
|
|
|
|
|
PL-010-14
|
|
474609
|
|
5827807
|
|
316.0
|
|
020
|
|
-45
|
|
326
|
|
PL-007-14
|
|
474417
|
|
5828062
|
|
320.0
|
|
210
|
|
-45
|
|
140
|
|
PL-008-14
|
|
474355
|
|
5828089
|
|
320.9
|
|
210
|
|
-45
|
|
133.6
|
|
PL-009-14
|
|
474555
|
|
5827838
|
|
319.5
|
|
045
|
|
-45
|
|
116
|
|
PL-014-14
|
|
474768
|
|
5827885
|
|
320.8
|
|
007.5
|
|
-45
|
|
179
|
|
The Company also announces that it has granted incentive stock options
totalling 450,000 to a consultant. The options are set for a period of
five years, expiring on November 11, 2019. The options are priced at
$0.135 and are subject to regulatory approval.
The Company also announces that by written consent of the shareholders
on September 25, 2014, the resolution proposed was duly passed for the
issuance of 2,500,000 common shares relating to a settlement of $200,000
of debt due to a company owned by one “non-arm’s length” individual. The
common shares were a part of an aggregate 3,991,000 shares for debt
settlement that have now been approved. Following the foregoing issuance
of shares in settlement of debt, the Company will have 90,807,595 shares
outstanding.
Due Diligence
All scientific and technical information in this release has been
reviewed and approved by Peter J. Vanstone, P.Geo., the qualified person
(QP) under the definitions established by National Instrument 43-101.
Under HLM’s QA/QC procedures, the Diamond drill contract specified
NQ-sized drill core providing a 47.6 mm diameter sample. The drill holes
were oriented perpendicular to the strike of the pegmatite and drilled
continuously across it. Sample security and chain of custody started
with the removal of core from the core tube and boxing of drill core at
the drill site. The boxed core remained under the custody of the drill
contractor until it was transported from the drill to the secure on-site
Core Shack facility by either the drill contractor or one of the
Company’s designated personnel. At the on-site Core Shack, core boxes
were opened and inspected to ensure correct boxing and labelling of the
core by the drill contractor, photographed and then re-closed. The core
was stored securely until moved into the Core Shack for processing. The
company geologists logged the core, and then marked and tagged it for
sampling and splitting. Each core sample was assigned a tag with a
unique identifying number. Sample lengths are typically one meter, but
can be less depending on zone mineralogy and boundaries. The Core was
then re-closed and shipped to the company’s off-site core splitting
facility in Sudbury, Ontario. Core marked for splitting was cut using a
Diamond core saw with a mounted jig to assure the core was cut
lengthwise into equal halves. Half of the core was sent to an analytical
laboratory for quantitative analysis of select elements. The remaining
half of the core is retained and incorporated into HLM’s secure,
off-site core library.
All samples were assayed by AcmeLabs’ (A Bureau Veritas Group Company),
an ISO accredited laboratory in Vancouver, British Columbia. Sample
blanks along with tantalum, lithium, rubidium and cesium certified
reference material was routinely inserted into the sample stream in
accordance with industry recommended practices. Field duplicate samples
were also taken in accordance with industry recommended practices.
About the PAK Rare Metals Project
The PAK Rare Metals Project lies close to the boundary between two
geological sub-provinces of the western Superior geologic province in
northwestern Ontario and hosts a rare metals pegmatite deposit. The
deposit is an LCT (lithium- cesium- tantalum) classified pegmatite.
These rare types of deposits have been the principal source of hard rock
lithium, tantalum, rubidium and cesium ores mined in the world.
HLM is actively exploring its 100% owned and optioned project which
contains the Pakeagama Lake pegmatite. The deposit is one of the highest
grade deposits in North America which has a current Inferred Resource of
6.89 million tonnes of 1.86% Li2O Eq. which has a
technical/ceramic grade spodumene with low inherent iron (below 0.1% Fe2O3).
Within the deposit, the pegmatite uniquely hosts an Upper Intermediate
Zone of 1.17million tonnes grading 3.44% Li2O. The pegmatite
has a 265m strike length with an estimated width varying from 45 to 125m
with a sub-vertical orientation. The resource remains open to depth and
along strike to the northwest and southeast. A 9-hole, 1,500m Phase II
Diamond drill program was completed in late March 2014 and have not yet
been considered in a resource calculation.
About Houston Lake Mining Inc.
HLM’s goal is to become a fully integrated lithium and tantalum producer
through the development of the PAK Rare Metals Project in Ontario,
Canada. The Company's strategy is to take advantage of low-Fe
ceramics/glass market as well as the global shift towards
electric/hybrid vehicles and high quality consumer electronics by
becoming a raw material supplier of the elements required for the
pursuit of sustainable energy and other applications in ceramics/glass,
high-tech electronics and metal alloys. Combined, HLM’s Board of
Directors and Management have over 300 years of finance, exploration and
mining experience to help to facilitate the Company’s goal.
HLM has a total of 90,807,595 common shares issued and outstanding. For
additional information on HLM, please visit www.houstonlakemining.com.
Company Contact Information
Trevor R. Walker, President
2736 Belisle Drive
Val Caron, ON.
P3N 1B3 CANADA
T. +001 705.897.7622
F. +001 705.897.7618
|
|
Henry J. Kloepper, CEO
T. +001 416.520.0187
|
|
Forward-looking Statements
Neither the TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release. This release includes certain
statements that may be deemed “forward-looking statements”. All
statements in this release, other than statements of historical facts,
that address future production, reserve potential, exploration drilling,
exploitation activities and events or developments that the Company
expects are forward-looking statements. Although the Company believes
the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially
from those in the forward-looking statements. Factors that could cause
actual results to differ materially from those in forward looking
statements include market prices, exploitation and exploration
successes, continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that
any such statements are not guarantees of future performance and those
actual results or developments may differ materially from those
projected in the forward-looking statements. For more information on the
Company, Investors should review the Company’s registered filings what
are available at www.sedar.com.