SUDBURY, Ontario--(BUSINESS WIRE)--
Houston Lake Mining Inc. (HLM.V), is a mining exploration
company that is actively exploring for the rare metals lithium,
rubidium, cesium and tantalum by currently advancing its 100% owned and
optioned PAK Rare Metals Project in northwestern Ontario, Canada.
Previous work conducted by HLM has outlined the presence of potentially
economic zones of lithium (spodumene) within its Pakeagama Lake
pegmatite.
Today HLM reported that results of an electron microprobe study of
spodumene samples taken from the Pakeagama Lake pegmatite lithium zones
indicate low inherent iron. The study was carried out by HLM in
collaboration with Queen’s University (Steve R. Beyer, Ph.D.) and
consisted of using an electron microprobe to determine the total iron
content of seventeen spodumene samples taken from the Upper Intermediate
(UIZ), and Lower Intermediate (LIZ) Zones of the pegmatite.
The spodumene from the spodumene-dominant UIZ intersected in diamond
drill holes (DDH) PL13-001 and -005 had the lowest inherent iron, with
averages ranging from 0.04 to 0.05 weight percent (wt.%) total iron
oxide (Fe2O3) based on a detection limit of 0.03
wt.%. The inherent total iron in the spodumene from DDHs PL13-003 and
-004, were below the 0.03 wt.% Fe2O3 detection
limit.
Spodumene in the lithologically heterogeneous Lower Intermediate Zone
(LIZ) contained variable Fe2O3 contents, with
averages ranging from below the 0.03 wt.% Fe2O3
detection limit in DDH PL13-002, to 0.19 wt.% Fe2O3
in DDH PL13-003. The iron content of spodumene contained within the LIZ
increases as the contact with iron-rich metasedimentary country rocks
are approached, but it has been noted that a concentration below 0.1%
wt.% Fe2O3 is maintained to within about 10 meters
of the pegmatite-metasediment contact.
The monetary value of low-iron (Fe) spodumene is greater than the more
common, higher iron spodumene as the former is desired for high quality
technical grade ore or concentrates used in the manufacture of specialty
glass products such as stove tops, ceramics and heat-proof cookware.
Furthermore, a low Fe spodumene is also well suited to produce a
high-yielding chemical-grade lithium concentrate which is used to
produce lithium chemicals which form the basis for manufacture of, among
other applications, lithium-ion batteries for laptop computers, mobile
phones, electric bicycles and electric/hybrid vehicles.
“This study has resulted in the unique ability of the Pakeagama Lake
pegmatite’s lithium zones to possibly produce a raw lithium product that
would be low in iron (below .1% Fe2O3) without
having to rely upon concentration,” commented Trevor R. Walker,
President of HLM. “This feature, coupled with the high grades of the
deposit give HLM confidence of the potential ability to economically
produce a technical grade quality spodumene product and/or concentrate
that could appeal firstly to the established specialty glass and
ceramics segment of the lithium market.”
Due Diligence
Mr. Peter J. Vanstone, P.Geo., an independent
"Qualified Person" to HLM as defined under NI 43-101, has reviewed and
approved the technical information contained in this news release.
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 developing 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. An 8-hole, 1,500m Phase II
diamond drill program was completed in late March 2014; assay results
for this program are pending.
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 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 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 86,415,695 common shares issued and outstanding. For
additional information on HLM, please visit www.houstonlakemining.com
Company Contact Information
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Trevor R. Walker, President
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Henry Kloepper, CEO
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2736 Belisle Drive
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T. +001 416.520.0187
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Val Caron, ON.
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P3N 1B3 CANADA
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T. +001 705.897.7622
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F. +001 705.897.7618
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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 http://www.sedar.com