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Presidents Update January 2010.
http://www.houstonlakemining.com/images/Letter%20to%20Shareholders%202009(1).pdf
Looking real cheap here, these guys raised alot of money in the .30's in 2009 and have a large exploration program going on now. They have spent millions exploring West Cedartree, they are much further along than a lot of juniors.
Decent buying on pinks today. This is an undiscovered one. They have done alot of exploration, far more thant the popular pumped juniors.
West Cedar Tree can be open pit and they have been able to raise a good amount of money. This is probably going to surprise me.
Hope we found the bottom around .18's
This is one of the better positioned undervalued juniors. They are leaps and bounds ahead of some IHUB favorites. The more drill holes we get the closer we are to possibley getting that big offer from a miner who wants to build a mill on site.
At under $10 market cap, I think we are in a good position.
Should be some results from Pakeagama Lake Lithium-Rare Metals Property soon.
Sept 15th
Houston Lake Mining Announces $500,000 Flow-Through Financing
http://www.businesswire.com/news/home/20091207005148/en
SUDBURY, Ontario--(BUSINESS WIRE)--Houston Lake Mining Inc. (TSX.V: HLM, the "Company") today reported that the Company is proposing a non-brokered private placement offering of up to maximum of 2,000,000 common shares ("Common Shares") of the Company. The Common Shares are to be issued under a unit offering whereby up to a maximum of 2,000,000 units ("Units") at a subscription price of $0.25 per Unit are to be offered. Each Unit shall consist of one (1) Common Share of the Company (to be issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) (a "Flow-Through Share") and one-half of one (½) share purchase warrant (the "Warrant") (each full Warrant shall entitle the holder thereof to purchase one (1) additional common share of the Company at an exercise price of $0.30 for the first 12 months from closing and at an exercise price of $0.35 for a further 12 month period (the "Offering").
All of the Flow-Through Shares and Warrants issued pursuant to the private placement are subject to a 4-month hold period. Completion of the private placement is subject to the final approval of the TSX Venture Exchange. Proceeds from the financing will be used to advance Houston Lake’s 100% owned and 100% optioned gold properties located near Kenora, Ontario.
All securities issued in connection with this financing have a hold period of 4 months. The Company reserves the opportunity to grant to eligible persons a finder’s fee of a maximum 8% of the gross proceeds of the Offering and finder options of a maximum of 8% of the total number of Units sold under the Offering. Each finder option will be exercisable at an exercise price of $0.25 into one common share and one-half of one Warrant for a period of two years from closing.
About Houston Lake Mining Inc.
Houston Lake’s objective in the short term is to become a gold producer by surface mining our West Cedartree gold project and apply the profits towards the development of our 100% owned and optioned northwestern Ontario properties. The Company has a total of 39,957,638 common shares issued exclusive of the announced financing. For additional information, we invite you to visit us at www.houstonlakemining.com.
Houston Lake Reports Second Quarter Results
http://www.houstonlakemining.com/index.php?option=com_content&task=view&id=212&Itemid=54
Progresses Dubenski and Dogpaw Lake Gold Zones
Sudbury, Ontario – November 26, 2009 – Houston Lake Mining Inc. (TSX.V: HLM), an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, today released its report for the second quarter ended September 30, 2009.
Second Quarter Highlights
Dubenski Gold Zone
•Commissioned independent consultants to update the NI 43-101 report for the Dubenski Shaft Zone extension.
Dogpaw Gold Zone
•Channel sampling expanded width of gold mineralization. Channel sampling yielded 4.31 g/t gold over 5.50 m at Dogpaw Vein No. 4.
•Initial channel sampling of Veins No. 5 and 6 returned assays up to 13.88 g/t gold.
Corporate Governance
•Appointed Robert Callander, CFA, MBA as new member of the Board of Directors.
Subsequent to Second Quarter
Dubenski Gold Zone
•Updated NI 43-101 mineral resource estimate was received. Gold ounces in the Indicated Category increased by 84%. A 10,730m drill program was recommended.
Dogpaw Gold Zone
•A total of 70 channel samples from the Dogpaw Vein No. 6 were analyzed by fire assay. Sample results ranged from trace to 22.19 g/t Au (0.647 oz/t Au). The best intercept was on Line 6 which assayed 5.81 g/t Au over a width of 4.15 metres (0.170 oz/t Au over 13.61 ft.) and included 21.80 g/t Au over a width of 0.40 metres (0.636 oz/t Au over 1.31 ft.).
•Additional samples were sent for fire assays from the Dogpaw Vein No. 5, results are pending.
•Results from the Vein No. 6 sampling may extend the Veins No 1, 2 and 4 systems to a strike length of over 500 metres.
Angel Hill Gold Zone
•Commenced mechanized stripping of the Robinson Occurrence, a historic gold showing approximately 1.4 km to the south of the Angel Hill gold resource.
Financings
•Raised $325,000 in a hard dollar financing through issuance of 1,300,000 common shares.
“While we continue to advance our Dogpaw and Angel Hill properties, the majority of our exploration dollars moving into the second half of the year will be focused on advancing the Dubenski property,” said Grayme Anthony, President & CEO. “We believe that we are looking at a large scale gold system at Dubenski. This property has the most near term potential to add tonnage and to aid us in meeting our overall production goal at West Cedartree.”
The current program on the West Cedartree property is aimed at outlining three open pit working areas (Angel Hill, Dogpaw Lake No. 1 Vein, and Dubenski Shaft Zone) in order to potentially support a proposed mill facility. To date all drilling on the property has been near surface and all resources remain open.
“In addition to our West Cedartree program we also announced our intention to advance our Pakeagama Lake Lithium-Rare Metals property,” Mr. Anthony continued. “Interest in lithium and rare metals has swelled over the past six months and we believe we hold the rights to the best property in Ontario for these metals. Our goal is to get a better understanding of the potential of property and attract a partner to take the project forward.”
Exploration outlays, salaries and other outlays were funded from treasury. During the six months ended September 30, 2009 Houston Lake invested $430,526 in the mining properties. Of the total:
• $280,813 was incurred in acquisition and exploration costs for the Dubenski property;
• $83,741 was devoted to exploration on the Dogpaw Lake property;
• $62,217 was expended on the West Cedartree property; and
• $3,701 was spent on the Pakeagama Lake and Tib Lake properties.
Expenses for the six months ended September 30, 2009 were $287,680 compared to $281,181 for the same period of the previous year.
For the six months ended September 30, 2009, Houston Lake incurred a net loss of $293,954 ($0.009/share) as compared to a net loss of $290,181 ($0.010/share) in the same period of 2008.
At September 30, 2009, working capital totaled $25,119 compared to $278,342 as at March 31, 2009. The Company’s current rate of cash consumption, excluding expenditures on work programs, is approximately $25,000 per month. Subsequent to the quarter Houston Lake completed a $325,000 private placement that yielded sufficient funds to meet all of its current contractual obligations in the near term.
E. Grayme Anthony, P. Geo., President of the Company, is the Qualified Person under the guidelines of NI 43-101 for the technical aspects of this news release.
Outlook
Looking into the second part of the year we will continue to focus on exploration and development of the West Cedartree Gold Project.
“We are focused on building ounces in the West Cedartree project by maximizing our dollars spent in the ground and taking a prudent approach to drilling the property. We are concentrating on Dubenski where we feel there is the greatest likelihood in adding tonnage,” commented Mr. Anthony.
Houston Lake has made considerable progress on its development timeline, which can be viewed at www.houstonlakemining.com.
About Houston Lake Mining Inc.
Houston Lake is an advanced, vertically integrated resource exploration company. The Company is actively exploring for gold, platinum group metal and rare metal deposits in northwestern Ontario with a strategic focus on the West Cedartree gold project. Houston Lake’s objective is to become a gold producer by surface mining its West Cedartree gold project and developing its 100% owned and optioned properties. The Company has a total of 35,957,638 common shares issued and outstanding.
Company Contacts
Houston Lake Mining In Canada: Linx Partners Ltd.
E. Grayme Anthony P.Geo., MBA Wanda Cutler Tel: 416-303-6460
President and CEO
Tel: 705-897-7622 In United States: ICS
Fax: 705-897-7618 George Duggan Tel: 818-542-6880
ganthony@vianet.on.ca
Houston Lake Mining CEO Addresses Company Development and Market Activity
The effect on the general market of the high gold price has seen large and mid size producers increase in value. While a few selected companies have responded to the high gold price, the junior market has not seen any breadth to the impact of these prices. It is felt that once the reality of sustainable high gold prices settles into the market outlook, juniors, especially those juniors that are advancing their projects toward production, will benefit.
Houston Lake continues to successfully advance its gold project near Kenora. This has attracted recent investment interest from Pinnacle Digest and Newsletter writers such as Thom Calandra of Ticker Trax (story) and Michael Berry of The Morning Notes. However, the stock has been under pressure from unidentified large volume sellers. These are thought to be funds who may be under redemption pressures and therefore looking to sell holdings that have maintained value and can sustain large volume selling. The result of this confluence of market attention on the positive and sell side has resulted in a stasis in share price between 23 and 27 cents Canadian. Thom Calandra notes that the share price is vastly undervalued. This may be an ideal time to expand one’s holdings given the low price and the available volume.
HLM intends on following up on the recommendations of the NI 43-101 report (see press release attached) with an aggressive two phase drill program aimed at expanding the gold resource. The company is currently lining up funds to execute this program. Other targets are currently being ground proofed on the property for future drilling. Our goal is the justification of an onsite mill at West Cedartree. The Pakeagama Lake rare metals project, with its high lithium oxide tenor, will be included in our 2010 exploration plans.
Deepest Regards,
Grayme Anthony
President & CEO, Houston Lake Mining
Updated NI 43-101 Mineral Resource Estimate Received for Houston Lake Mining’s Dubenski Gold Property
Indicated Category Au Ounces Increase by 84%
10,730 Metre Drill Program Independently Recommended
Sudbury, Ontario – November 5, 2009 – Houston Lake Mining Inc. (TSX.V: HLM), an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, is pleased to announce that a National Instrument NI 43-101 compliant updated Mineral Resource estimate on the Dubenski Mineralized Zone has been received from P&E Mining Consultants Inc. (“P&E”), an independent geological and mine engineering consulting firm based in Brampton, Ontario.
"The drilling of the Dubenski Mineralized Zone (DMZ) has exceeded our expectations," said E. Grayme Anthony, P. Geo., President and Chief Executive Officer. “We have increased the Indicated Resource contained ounces by factor of 84%.”
Mr. Anthony further stated: “Given that the gold resource is near surface, I believe we have only just started to reveal the potential at Dubenski. We have drilled only a 365 metre strike length of a 1,700 metre IP geophysical anomaly. The IP signature strengthens to a depth of over 450 metres and we have drilled to a depth of scarcely 100 metres. We look forward to the possibility of further expansion of the resource as it remains open in all directions and a large drill program is independently recommended.”
In 2008, Watts Griffis and McOuat (“WGM”) was contracted to carry out a technical review of the Dubenski Property and design and supervise a definition drilling program in order to prepare a NI 43-101 compliant Mineral Resource estimate for the Dubenski Shaft Zone portion of the historic gold resource. The categorized Mineral Resources from that technical report at a 1.0 g Au/t cut-off grade were as follows:
Table 1. Summary of Shaft Zone Previous Mineral Resource Estimate
(Cutoff of 1.0 g Au/t)
By Watts, Griffis and McOuat (2008)
Category Tonnes Au (g/t)
(uncapped) Ounces
(uncapped) Au (g/t)
(capped) Ounces
(capped)
Indicated 177,400 7.32 41,750 5.97 34,050
Inferred 118,700 5.63 21,500 5.02 19,150
Notes: Au is capped at 50 g/t, assumed gold price was US$650/ounce
In August 2009, P&E was contracted to prepare an updated NI 43-101 compliant Mineral Resource estimate for the Dubenski Mineralized Zone. Independent Consulting Geologist, Bryan McKay, P. Geo. is the main author of the NI 43-101 report. This calculation updates the WGM resource estimate published in January of 2009.
The Dubenski Mineralized Zone resource model was delineated from a database containing 72 diamond drill holes on 15 metre spaced sections and 27 surface trenches over a strike length of 375 metres and a down dip distance of 150 metres. Inverse distance cubed grade interpolation was utilized on one metre composites derived from capped assays. Tonnage calculations utilized a bulk density of 2.77 tonnes per cubic metre.
The optimized open pit resource gives a preliminary indication of potentially extractable mineralization at this point in time. The model is especially useful in indicating where added drilling is needed to upgrade the resource to extractable material as defined by the pit optimization.
Table 2. Dubenski Mineralized Zone Resource Estimate Utilizing Optimized Pit Shell
INDICATED INFERRED
Cut-Off Au g/t Tonnes Au g/t Au oz. Tonnes Au g/t Au oz.
Pit 0.65 g/t 524,000 3.55 59,800 12,000 1.96 800
UG 2.5 g/t 27,000 3.26 2,900 10,000 3.32 1,000
TOTAL 551,000 3.53 62,700 22,000 2.57 1,800
(1) The updated resource for the Dubenski Mineralized Zone was estimated on the basis of the Oct 31/09 24 month trailing average Au price of US$895/oz and $US exchange rate of $0.92. The open pit cut-off grade of 0.65 g/t Au was derived from $C2.50/tonne mining, C$15/tonne processing, C$5/tonne G&A and 95% process recovery. The open pit portion of the resource was defined in a 50 degree slope optimized pit shell. The underground cut-off grade of 2.5 g/t Au was derived from $55/tonne mining, C$15/tonne processing and C$5/tonne G&A and 95% process recovery.
(2) Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
(3) The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.
(4) The mineral resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.
Excerpts from Preliminary Notes NI 43-101 Technical Report
“The east-west trending, steeply south dipping, Dubenski Mineralized Zone (DMZ) is now defined as a continuous zone of alteration and auriferous mineralization characterized by intense sericitization and carbonatization overprinted by intense silicification accompanied by patchy fuchsite alteration. Sulphide mineralization within the zone occurs as fine-grained disseminated pyrite and scattered mm to sub-mm scale euhedral pyrite crystals. Rare chalcopyrite and galena occur in quartz veins. Sulphide content varies from trace to 5% and averages 2%. Gold occurs as minute specks and is usually associated with coarse pyrite.
Historically the DMZ was defined as three distinct and separate geographical zones known, from west to east, as the Shaft Zone, the Central Zone and the Peninsula Zone. The Shaft Zone was further divided into the East and Far East Zones based on the results of widely spaced drilling. The recent drilling by Houston Lake has confirmed the continuous nature of the DMZ and merging of the three historical zones.
The latest resource calculations completed by P&E were conducted on the Shaft Zone and western portion of the Central Zone. The Shaft Zone portion of the DMZ is now defined by two distinct mineralized horizons, the North Zone and the South Zone. The earlier calculations by WGM modeled the DMZ as a single unit. A new interpretation of the Dubenski Deposit indicates the presence of distinct zones of mineralization at each contact of the DMZ. These two zones are separated by a zone of low-grade material which has been designated the “Heartless Zone”. This Heartless Zone varies in width up to 5-8 meters. Each mineralized zone is further split into an east segment and a west segment at 23+35E. This dividing line occurs at the eastern end of the WGM drilling. The four segments of the Shaft Zone are designated the NW, SW, NE and SE domains.
The NW and SW domains encompass all of the WGM drilling and a few later holes west of the WGM drilling. The NE and SE domains encompass the remainder, lower grade sections of the Shaft Zone. There is no doubt in the author’s mind that WGM managed to drill the “Heart” of the Shaft Zone and all subsequent drilling, in the DMZ, was uniformly lower grade. The “Heart” portion of the Shaft Zone is wider than the remainder of the Shaft Zone and contains all occurrences of visible gold detected in the 2008 and 2009 drilling.
A satellite zone to the Shaft Zone, the Footwall Zone, has been included in the latest calculations. The zone is defined solely by drilling and does not extend to surface. This zone was not included in the earlier WGM calculations but was referenced in their report as “Zone 2”.”
The first of two proposed drilling campaigns for the Dubenski property are presented to provide some targets for additional drilling and budgeting and is comprised of 14 holes totaling 4,230 meters. These holes have the potential to add resources to the Shaft and Central Zones and to extend the limits of these zones. The initial, dual-purpose, results driven program is designed to continue the evaluation of the Shaft and Central Zones and to examine the down plunge and western extensions of the same zones. A second drill program totaling 6,500 meters is recommended dependent to follow up on these results.
This news release was reviewed by Eugene Puritch, P.Eng. of P&E Mining Consultants and Bryan McKay, P. Geo., who are Qualified Persons under the guidelines of the National Instrument 43-101. The NI 43-101 Technical Report on the Mineral Resource estimate will be filed on SEDAR within 45 days of this news release.
About the Dubenski Property
The Dubenski Property is one of eight contiguous properties comprising the Company’s 100% owned and optioned 1,674 hectare (4,135 acre) West Cedartree Gold Project located near Kenora, Ontario. The project area encompasses three zones hosting gold resources at Angel Hill (NI 43-101 compliant resource of 106,400 tonnes grading 2.97 g/t Au), Dogpaw Lake No. 1 Vein (historic resource of 54,011 tonnes grading 15.43 g/t Au) and Dubenski (NI 43-101 compliant resource of 573,242 tonnes grading 3.50 g/t Au).
The tonnages, grades, assays and other technical data are taken from historical records prior to the implementation of NI 43-101. While the data are believed to have been acquired, processed and disclosed by persons believed to be technically competent, it is unverifiable at present.
A qualified person as defined under NI 43-101 has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Houston Lake is not treating the historical estimates as current mineral resources or mineral reserves as defined in NI 43-101 and the historical estimate should not be relied upon.
About Houston Lake Mining Inc.
Houston Lake is an advanced, vertically integrated resource exploration company. The Company is actively exploring for gold, platinum group metal and rare metal deposits in northwestern Ontario with a strategic focus on the West Cedartree gold project. Houston Lake’s objective is to become a gold producer by surface mining its West Cedartree gold project and developing its 100% owned and optioned properties. The Company has a total of 35,957,638 common shares issued and outstanding. For additional information, please visit us at www.houstonlakemining.com.
Houston Lake Participates in Chicago Resource Expo
Sudbury, Ontario – November 2, 2009 Houston Lake Mining Inc. (TSX.V: HLM), an advanced exploration
company seeking gold, platinum group and rare metal deposits in Ontario, is pleased to announce that the Company will be participating in the Chicago Resource Expo directed by natural resource specialist Rich Radez on November 6 & 7, 2009 at the Rolling Meadows Holiday Inn Convention Center. On November 6, 2008 at 6:40 pm, Houston Lake will be providing update on the significant progress the company has made over the past year.
In addition, a special session for money managers will take place on Friday afternoon from 1:00 p.m. - 3:00 p.m. The
keynote speaker on Friday evening following our gala cocktail party will be world renowned economist David Hale. Saturday's session begins at 8:00 a.m. with a continental breakfast. The panel speakers include Dr. Michael Berry, editor of the Morning Notes, Jay Taylor of the Value Investor, Clyde Harrison, President of Brookshire Raw Materials Fund, Michael Fulp, the Mercenary Geologist, Ty Andros of Tedbits, Toby Hanson of the Heavy Metal Investor, Sara Patterson Poke the Bear blog, Al Korelin of the Korelin Economics Report, Tom Calandra of Ticker Trax and rapid change expert Robert Ian. Free reservations are recommended by visiting the website http://www.chicagoresourceexpo.com/
About Houston Lake Mining Inc.
Houston Lake is an advanced, vertically integrated resource exploration company. The Company is actively exploring for
gold, platinum group metal and rare metal deposits in northwestern Ontario with a strategic focus on the West Cedartree gold project. Houston Lake’s objective is to become a gold producer by surface mining its West Cedartree gold
project and developing its 100% owned and optioned properties. The Company has a total of 35,957,638 common
shares issued and outstanding.
Company Contacts
Houston Lake Mining
In Canada: Linx Partners Ltd.
E. Grayme Anthony P.Geo., MBA
Wanda Cutler Tel: 416-303-6460
President and CEO
Tel: 705-897-7622
OUTLOOK: Houston Lake will continue to focus on exploration and development of the WCGP. Cook Engineering has been contracted to devise an environmental plan to meet requirements of permitting the Angel Hill, Dogpaw and Dubenski Shaft Zones. We have initiated investigation of surface targets at Dogpaw and along the Angel Hill gold trend especially in the vicinity of the Robertson Occurrence. Houston Lake plans to upgrade the Dubenski resource based on Phase II and III drilling completed this year. Phase IV drilling is planned for Dubenski. The company expects to do further drilling Dogpaw aimed at upgrading the historic resources there. Houston Lake’s overall goal is to identify enough near surface resources at three locations (Angel Hill, Dogpaw Vein No.1 and Dubenski Shaft Zone) in order to justify a mill
on site.
Hoping that NI report hits soon. Should add alot of ounces to deposit. I can't wait to read it.
West Cedartree Gold Project remains active
http://www.kenoradailyminerandnews.com/ArticleDisplay.aspx?e=2134162
The current program on the West Cedartree property is aimed at outlining three open pit working areas (Angel Hill, Dogpaw Lake No. 1 Vein, and Dubenski Shaft Zone) in order to potentially support a proposed mill facility. To date all drilling on the property has been near surface and all resources remain open.
This is all you need to know about HLM
Angel hill had a bulk sample sent that made them over $100k
They have good g/t near surface in a large area. Easy
Houston Lake Mining Raises $325,000 In A First Closing of A $500,000 Private Placement Financing
Sudbury, Ontario – September 30, 2009 -- Houston Lake Mining Inc. (TSX.V: HLM) is pleased to report it has closed a $325,000 first tranche of a $500,000 hard dollar private placement. The financing will be used for working capital purposes to advance exploration activities at its West Cedartree Gold Project in Ontario.
The funds were raised through the sale of 1,300,000 units priced at $0.25 per unit in a non-brokered private placement, subject to regulatory approval. Each unit consisted of one common share and one half common share purchase warrant. Each whole warrant is exercisable into one common share at an exercise price of $0.40 for 12 months and $0.50 for 24 months from the closing date of September 29, 2009.
Proceeds from the offering will finance ongoing exploration activities at Houston Lake’s 100% owned and 100% optioned gold properties near Kenora, Ontario. The Company has eight contiguous properties that comprise its West Cedartree Gold Project. In April, management concluded a highly successful winter diamond drill program at the Dubenski property. The results are currently being compiled into a NI 43-101 report that seeks to update a resource calculation completed in January of 2009. Surface exploration continues at the neighbouring McLennan and Dogpaw Lake properties.
“With the closing of this financing we are well positioned to continue our aggressive exploration at West Cedartree,” said Grayme Anthony, President and CEO. “We are continuing to expand the potential of the Angel Hill and Dogpaw gold trends and we look ahead to an updated resource calculation on the Dubenski property.”
All securities issued in connection with this financing have a hold period of four months. A finder’s fee of $7,125 is payable pursuant to the offering.
About Houston Lake Mining Inc.
Houston Lake is an advanced, vertically integrated resource exploration company. The Company is actively exploring for gold, platinum group metal and rare metal deposits in northwestern Ontario with a strategic focus on the West Cedartree gold project. Houston Lake’s objective is to become a gold producer by surface mining its West Cedartree gold project and developing its 100% owned and optioned properties. The Company has a total of 34,657,638 common shares issued and outstanding exclusive of the announced financing. For additional information, please visit us at www.houstonlakemining.com.
Houston Lake Mining Plans Fall Exploration Program at Pakeagama Lake Lithium-Rare Metals Property
4.62% Lithium Oxide Reported Over 13.9m in Core Zone by OGS
Nice to see they realize the REE craze and are looking into that property!
Sudbury, Ontario – September 15, 2009 – Houston Lake Mining Inc. (TSX.V: HLM), an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, is pleased to announce exploration plans for the Company’s 100% owned 256 hectare (632 acre) Pakeagama Rare Metals Property located approximately 170 km northwest of Red Lake, Ontario.
“Market interest in lithium has made our Pakeagama Rare Metals Property the chief focus of an intense staking rush north of Red Lake,” said E. Grayme Anthony P. Geo., President and Chief Executive Officer. “At this stage we believe we hold the key ground identified by the Ontario Geological Survey (OGS) in their 1998-1999 rare metals evaluation of the region.
While our primary goal remains fixed on advancing our West Cedartree Gold Project, the market interest in rare metals affords the company an opportunity to illustrate the outstanding value contained in this property. Independent geologists have indicated that this is a highly prospective target containing rare metal signatures similar to the Tanco Mine, located in neighbouring Manitoba.
High grade lithium oxide values reported in the Core Zone complement the outstanding exploration potential for tantalum, cesium and rubidium as well as other rare metals on our property. Accordingly, Houston Lake plans a surface exploration program for this fall that will form the basis for a follow up winter drill program.”
The Pakeagama Lake pegmatite is host to the rare metals mineralization on the property. Initial work on the pegmatite by the OGS and The Open University of the United Kingdom consisted of two field seasons of study, 1648 electron microprobe analyses, 50 bulk chemical analyses, 21 analyses of potassium feldspar and X-ray diffraction work conducted upon 30 samples. Initial channel sampling of the Core Zone yielded 13.9 metres grading 4.62% lithium oxide. The results of these studies have been published by the OGS (Open File Report 6000, Summary of Field Work and Other Activities, November, 1999, pp. 26-1 to 26-12). The Summary Report concludes: “The detailed documentation of a variety of tantalum-rich minerals coupled with the presence of pollucite renders the Pakeagama Lake pegmatite and adjoining area one of the best targets for tantalum and cesium exploration in northwestern Ontario.”
Exploration work by Houston Lake to date has consisted of 25.4 km of line-cutting, magnetic and VLF-EM surveys, detailed and property scale geological mapping, stripping and channel sampling. This work has exposed the pegmatite for over 280 metres along strike and the pegmatite may extend an additional 300 metres to a 700 g/t tantalum oxide showing located on the Shore of Pakeagama Lake. Further stripping work has expanded the width to over 125 metres. An adjacent lithium-cesium anomaly may indicate a potential width of 160 metres. These dimensions make the Pakeagama Lake pegmatite one of the largest rare metal petalite pegmatites in Ontario. The pegmatite remains open along strike in both directions. Channel sampling of an 11.0m section of the Northern Wall Zone averaged 1.21% lithium oxide, 0.53% rubidium oxide, 958 g/t cesium oxide, 222 g/t tantalum oxide, 1259 g/t beryllium oxide, 107.0 g/t niobium oxide, 56 g/t gallium, 8.1 g/t germanium, 35.8 g/t thallium, and 120 g/t tin.
Houston Lake plans additional stripping and channel sampling programs this fall that would target the lithium-bearing Core Zone as well as other features partially revealed by a recent forest fire. This work will provide the basis for a drill program scheduled for this winter.
Due Diligence
All sample values reported were analyzed by Activation Laboratories of Ancaster, Ontario using neutron activation for cesium, rubidium, and tantalum, multiacid digestion ICP for lithium, XRF pressed pellet for niobium and tin, lithium metaborate/tetraborate fusion for thallium, gallium, beryllium and germanium. Check assays were analyzed by SGS XRAL Laboratories of Toronto, Ontario.
E. Grayme Anthony, P. Geo., company president, is the Qualified Person under the guidelines of NI 43-101 for the technical aspects of this news release.
About Houston Lake Mining Inc.
Houston Lake is an advanced, vertically integrated resource exploration company. The Company is actively exploring for gold, platinum group metal and rare metal deposits in northwestern Ontario with a strategic focus on the West Cedartree gold project. Houston Lake’s objective is to become a gold producer by surface mining its West Cedartree gold project and developing its 100% owned and optioned properties. The Company has a total of 34,657,638 common shares issued and outstanding. For additional information, please visit us at www.houstonlakemining.com.
Company Contacts
Houston Lake Mining In Canada: Linx Partners Ltd.
E. Grayme Anthony P.Geo., MBA Wanda CutlerTel: 416-603-4646
President and CEO
Tel: 705-897-7622 In United States: ICS
Fax: 705-897-7618 George Duggan Tel: 818-542-6880
ganthony@vianet.on.ca
http://www.houstonlakemining.com/index.php?option=com_content&task=view&id=206&Itemid=54
Should be in for a nice day.
.261 X .272, if we see volume we should shoot to at least half a dollar
All the gold buzz, Houston lake is days away from putting our an updated NI report.
Houston Lake Reports First Quarter Results
Sudbury, Ontario – August 27, 2009 – Houston Lake Mining Inc. (TSX.V: HLM), an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, today released its report for the first quarter ended June 30, 2009.
First Quarter Highlights
Dubenski Gold Zone
Drilling confirmed the extension of the Dubenski Mineralized Zone suggesting that the Shaft, Central and East Zones may form one large and continuous gold mineralizing system
Drilling extended the gold mineralization to over 365 m from Phase I drilling (a factor of six times)
49 of 57 drill holes from Phase I, II and III encountered grades of 3.50 g/t Au or higherPlans to upgrade the Dubenski NI 43-101 resource based on Phase II and III drilling.
Dogpaw and Angel Hill Gold Zones
Aims to complete further delineation drilling of the No. 4 Vein before commencing with a NI 43-101 calculation
Released IP survey results which traces Angel Hill Gold Zone for over 3.3 km depicting 25 strong IP anomalies
Gold verified at the Robertson Occurrence located along IP trend 1.4 km south of Angel Hill
Financings
Raised $280,999 for further exploration in two equity financings
Hosted site tour of West Cedartree for mining analysts, investors & media
Subsequent to First Quarter
Dogpaw Gold Zone
Channel Sampling expands width of gold mineralization. Channel sampling yields 4.31 g/t Gold over 5.50m at Dogpaw Vein No. 4 and up to 13.88 g/t gold from Veins No. 5 & 6.
Corporate Governance
Appointed Robert Callander, CFA, MBA as new member of the Board of Directors
“We are on schedule with our updated resource calculation on our Dubenski property which is expected in September,” said Grayme Anthony, President & CEO. “Our drill results and IP surveys to date suggest the presence of a large scale gold system at Dubenski, the resource remains open and geophysics indicate that the zone may be strengthening to depth. We are planning further drilling on the Dubenski and Dogpaw gold zones this year and I believe there is still much to discover on the property.”
The current program on the West Cedartree property is aimed at outlining three open pit working areas (Angel Hill, Dogpaw Lake No. 1 Vein, and Dubenski Shaft Zone) in order to potentially support a proposed mill facility. To date all drilling on the property has been near surface and all resources remain open.
Exploration outlays, salaries and other outlays were funded from treasury. During the first quarter ended June 30, 2009 Houston Lake invested $284,100 in the mining properties. Of the total:
$214,079 was incurred in acquisition and exploration costs for the Dubenski property;
$40,413 was devoted to exploration on the Dogpaw Lake property;
$28,408 was expended on the West Cedartree property; and
$1,200 was spent on the Pakeagama Lake and Tib Lake properties.
Expenses during the first quarter decreased from $178,855 to $124,725 reflecting lower transfer agent costs, a timing difference in payment of insurance and decreased in shareholder information costs.
Houston Lake issued 941,425 common shares for gross proceeds of $280,999 during the three month period.
For the three months ended June 30, 2009, Houston Lake incurred a net loss of $127,783 ($0.004/share) compared to a net loss of $183,747 ($0.007/share) in 2008.
At June 30, 2009, working capital totaled $84,685, compared to $278,342 at the same time last year. The Company’s current rate of cash consumption, excluding expenditures on work programs, is approximately $25,000 per month.
Outlook
Looking into the second quarter we will continue to focus on exploration and development of the West Cedartree Gold Project.
The Company’s goal is to identify near surface resources towards the justification of an on-site mill. The company is expecting an upgraded NI 43-101 resources estimate on Dubenski. In addition, the company plans to do further drilling on both Dubenski and Dogpaw gold zones this year.
Houston Lake has made considerable progress on its development timeline, which can be viewed at www.houstonlakemining.com.
Houston Lake Mining Expands Width of Gold Mineralization in Channel Sampling at Dogpaw
nnel Sampling Yields 4.31 g/t Gold over 5.50 m at Dogpaw Vein No. 4
Preliminary Sampling Returns Up to 13.88 g/t Gold from Veins No. 5 & 6
Resource Calculation Commenced for Dubenski Shaft Zone Extension
Sudbury, Ontario – August 18, 2009 – Houston Lake Mining Inc. (TSX.V: HLM), an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, is pleased to provide assay results from new channel sampling over the No. 4 Vein on its Dogpaw Lake property. Dogpaw is one of eight contiguous properties forming the Company’s West Cedartree Gold Project near Kenora.
“The No. 4 Vein represents a potential third addition to the Dogpaw gold resource,” said E. Grayme Anthony, President and Chief Executive Officer. “New sampling has added significantly to the width of the gold mineralization. The Dubenski Shaft Zone resource has been extended from 60 to 365 metres and an updated resource calculation is underway. Given the results from our recent drilling and sampling at Dogpaw and Dubenski, I believe that our goal of defining sufficient gold resources to justify an on-site mill at West Cedartree is eminently achievable.”
Table 1. Summer 2009 No. 4 Expanded Vein Channel Sample Results - Main Trend
Channel Sample Cut,
2 Metre Intervals
From NE to SW Width in
Metres Gold
(g/mt) Width in
Feet Gold
(oz/st)
.
Line 10 7.30 m. 1.54 23.94 ft. 0.045
Incl. 3.70 m. 2.55 12.14 ft. 0.075
Incl. 2.00 m. 3.68 6.56 ft. 0.107
Incl. 0.60 m. 9.84 1.97 ft. 0.287
.
Line 11 6.00 m. 2.14 19.68 ft. 0.062
Incl. 3.40 m. 3.55 11.15 ft. 0.104
Incl. 2.50 m. 5.35 8.20 ft. 0.156
Incl. 1.10 m. 7.41 3.61 ft. 0.216
.
Line 12 5.50 m. 4.31 18.04 ft. 0.126
Incl. 1.10 m. 8.20 3.61 ft. 0.239
Incl. 0.20 m. 18.96 0.66 ft. 0.552
Also Incl. 1.10 m. 6.55 3.61 ft. 0.191
.
Line 13. 5.80 m. 1.78 19.02 ft. 0.052
Incl. 2.60 m. 2.70 8.53 ft. 0.079
Incl. 1.80 m. 3.60 5.90 ft. 0.105
Incl. 1.10 m. 5.48 3.61 ft. 0.160
.
Line 14 6.60 m. 2.11 21.65 ft. 0.062
Incl. 1.80 m. 6.59 5.90 ft. 0.192
Incl. 1.40 m. 8.41 4.59 ft. 0.245
Incl. 0.80 m. 11.66 2.62 ft. 0.340
.
Line 15 2.75 m. 4.71 9.02 ft. 0.137
Incl. 2.05 m. 6.41 6.72 ft. 0.187
Incl. 0.10 m. 23.85 0.33 ft. 0.696
Also Incl. 0.25 m. 13.48 0.82 ft. 0.393
Line 16 1.40 m. 2.47 4.59 ft. 0.072
Incl. 1.00 m. 3.00 3.28 ft. 0.087
Incl. 0.60 m. 3.91 1.97 ft. 0.114
Line 17 2.10 m. 2.46 6.89 ft. 0.072
Incl. 1.00 m. 4.37 3.28 ft. 0.127
.
Line 18 2.60 m. 4.47 8.53 ft. 0.130
Incl. 2.00 m. 5.72 6.56 ft. 0.167
Incl. 0.60 m. 7.36 1.97 ft. 0.215
Table 1 illustrates results from the main northeast trend of the No. 4 Vein gold mineralization. Each channel sample line is cut perpendicular to the strike of the gold mineralization and the channel cuts are spaced approximately 2 metres (6.56 feet) apart. A total of 73 new channel samples are reported and range from trace to 18.96 g/mt gold (0.552 oz/st gold). Line 12 had the best intercept of 4.31 g/t gold over 5.50 metres (0.126 oz./st gold over 18.04 ft.).
The No. 4 Vein is interpreted to be the northeastern extension of the No. 1 Vein and while the No. 2 Vein forms its south-western extension. Together, the No. 1, No. 2 and No. 4 Veins comprise a single gold mineralizing system that has been traced for over 310 metres (1,017 ft.) along strike and to a depth of 210 metres (689 ft.). An historic mineral resource estimate of 53,741 metric tonnes grading 15.43 g/mt Au (59,240 short tons grading 0.45 oz/st Au) was calculated for the No. 1 Zone in 1944 by Noranda Minerals. Systematic drilling of the No. 4 Vein has been independently recommended as a prelude to an updated resource calculation encompassing the Dogpaw gold mineralizing system.
Two new veins have been located 450 metres northeast of the No. 4 Vein. The No. 5 Vein is a quartz carbonate alteration zone up to a half metre thick and traceable for 30 metres (98 ft.). Preliminary sampling yielded 3.88 g/t gold (0.113 oz/st) and 4.79 g/t gold (0.140 oz/st). The No. 6 Vein is a 25 metre (82 ft.) long 0.30 to 0.50 metre thick quartz carbonate alteration zone that assayed 10.49 g/t gold (0.306 oz/st) in a grab sample. Preliminary channel samples returned 3.61 g/t over 0.65m (0.105 oz/st over 2.13 ft.) and 13.88 g/t gold over 0.55m (0.405 oz/st over 1.80 ft.). The vicinity of these vein systems are currently being stripped, washed and sampled.
JVX Limited of Richmond Hill, Ontario conducted three dimensional Borehole IP/Resistivity surveys on a number of drill holes in the vicinity of the No. 1 Vein historic resource. JVX recommends a series of holes be drilled to intersect the strong chargeable sources identified on L1200W from 1250N to 1350N. These are thought to be the extension of the zone present on L1100W from 1050N to 1150N (proximal to the No. 1 Vein). A deep pass of surface IP is also recommended for lines 1050W to 1550W to further investigate previously identified chargeability results.
The updated NI 43-101 report for the Dubenski Shaft Zone extension is in progress. Houston Lake has commissioned P&E Mining Consultants Inc. of Brampton, Ontario for the resource calculation component of the report while Independent Consulting Geologist Brian McKay, P. Geo., acts as the principle author. The report is expected to be completed in September.
Due Diligence
All samples reported were shipped to TSL Laboratories, an ISO accredited facility, of Saskatoon, Saskatchewan. Samples taken from the core of the mineralized zone were analyzed utilizing a screen metallic assay method. This methodology provides a higher level of assurance by testing a large quantity of sample (1,000g) and by monitoring the size distribution of the gold. Samples taken from the shoulders of the mineralized zone were analyzed by fire assay utilizing a 50 gram charge. All samples were assayed with an AA finish and those samples assaying above 3 g/mt gold were retested utilizing a gravimetric finish. The samples will also be re-checked at a second qualified laboratory in keeping with the Company’s standard due diligence procedures.
The tonnages, grades, assays and other technical data are taken from historical records prior to the implementation of NI 43-101. While the data are believed to have been acquired, processed and disclosed by persons believed to be technically competent, it is unverifiable at present.
A qualified person as defined under NI 43-101 has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Houston Lake is not treating the historical estimates as current mineral resources or mineral reserves as defined in NI 43-101 and the historical estimate should not be relied upon.
Dean R. Cutting, P. Geo., an independent consulting geologist, and E. Grayme Anthony, P. Geo., company president, are the Qualified Persons under the guidelines of NI 43-101 for the technical aspects of this news release.
http://www.houstonlakemining.com/index.php?option=com_content&task=view&id=204&Itemid=54
Houston Lake Reports Fourth Quarter Results
http://www.usetdas.com/TDAS/NewsArticle.aspx?NewsID=13988
"We continued to forge ahead on our Dubenski property during the fourth quarter," said Grayme Anthony, President & CEO. "The excellent high-grade, wide results that we saw from our Phase II and III drill programs will be incorporated into the updated NI 43-101 report that we are planning to release in the next couple of months. The Dubenski gold zone has proven to be an excellent investment for our company and I am delighted that our efforts are paying off there."
The company achieved its goal of upgrading its Dubenski historical resource to modern standards and completed two additional drill programs on the property during the year. Significant gold results have been returned from both programs and the company expects a new resource calculation out in the near term. Houston Lake also made significant progress on the Dogpaw Gold Zone tracing the No. 2 Vein to depth. The Dogpaw No. 2 Vein is interpreted to be the south-western extension of the Dogpaw No. 1 Vein historic resource of 53,741 tonnes grading 15.43 g/mt gold (59,239 tons averaging 0.450 oz/st gold). The Company is seeking to upgrade the Dogpaw No. 1 Vein historic resource to modern standards as part of its goal of justifying an on site mill at West Cedartree.
"In addition to producing excellent drill results we took steps to strengthen our company at the Board level with the addition of Robert Callander," he continued. "Rob brings a wealth of capital markets experience which will be very useful to us as we seek to finance further exploration on the property. Throughout the history of our company minimizing shareholder dilution has been a guiding principle and we will continue to take that approach as we move forward."
Houston Lake Mining Appoints Robert Callander As New Board Member
http://www.houstonlakemining.com/index.php?option=com_content&task=view&id=202&Itemid=54
Sudbury, Ontario – July 20, 2009 -- Houston Lake Mining Inc. (TSX.V: HLM) is pleased to announce the appointment of Mr. Robert Callander, B.Sc., M.B.A., C.F.A. to the Board of Directors. Mr. Callander is a senior investment industry executive with thirty years of experience. He currently serves as Vice President at Caldwell Securities Ltd. and is a member of Caldwell Securities Investment Management. During his career Mr. Callander has managed money for high net worth individuals and was ranked as a leading industry research analyst. Mr. Callander received a B.Sc. in Geology from the University of Waterloo and an M.B.A., with emphasis in finance, from York University. He is a member of the Association for Investment Management and Research and the Toronto Society of Financial Analysts.
“It is an honour and a privilege to be selected to serve as a Director of Houston Lake Mining Inc.” said Robert Callander. “I am looking forward to working with the strong and experienced Board of Directors and management team.”
“Mr. Callander brings a deep understanding of financial markets which rounds out and complements the existing strength of Houston Lake Board of Directors in mining”, commented Grayme Anthony, President and CEO. ”We look forward to working with Rob as Houston Lake grows and moves ever closer to its goal of becoming a near term gold producer.”
The Company also announces that it has granted 250,000 stock options to officers, directors, employees and consultants of the Company. The options are set for a period of five years, expiring on July 17, 2014. The options are priced at $0.22 and are subject to regulatory approval.
About Houston Lake Mining Inc.
Houston Lake is an advanced, vertically integrated resource exploration company. The Company is actively exploring for gold, platinum group metal and rare metal deposits in northwestern Ontario with a strategic focus on the West Cedartree gold project. Houston Lake’s objective is to become a gold producer by surface mining its West Cedartree gold project and developing its 100% owned and optioned properties. The Company has a total of 34,657,638 common shares issued and outstanding. For additional information, please visit us at www.houstonlakemining.com.
Company Contacts
Houston Lake Mining In Canada: Linx Partners Ltd.
E. Grayme Anthony P.Geo., MBA Wanda Cutler Tel: 416-603-4646
President and CEO
Tel: 705-897-7622 In United States: ICS
Fax: 705-897-7618 George Duggan Tel: 818-542-6880
ganthony@vianet.on.ca
Kenora exploration activity at historic highs
Juniors search for gold and wide array of mineral commodities
Houston Lake Mining gets mention in Northern Ontario Business
Mineral exploration activity has gone through peaks and lulls over the last 30 years in the Kenora District, but this time Craig Ravnaas said it could have some longevity.
The Ontario Geological Survey's (OGS) resident geologist said much of the past activity has been tied to whenever the price of gold exceeds $400 an ounce. That is when investor confidence in finance exploration programs soars.
Exploration work is at historic highs with the OGS recording 67 projects going on in the Kenora District, which covers Dryden, Sioux Lookout, Ignace and the Fort Frances-Rainy River area.
"It's been pretty steady and it's picked up in activity every year," said Ravnaas.
There are pockets of junior miners clustered near Kenora, Dryden, Sioux Lookout and Fort Frances.
”Properties that were worked in the 1980s are being revisited again,” said Ravnaas, with both old mining camps and virgin ground being explored. “Last year's activity was as busy as it was in the 1980s. We're near historic levels of activity and hopefully programs at the diamond drill stage last year for a multitude of commodities will continue on.”
Unlike the go-go 80s, Ravnaas said this stretch might have some legs to it.
Despite fluctuating commodity markets, companies are spending more than one year on their properties to gain a full understanding of the geological setting.
He points to juniors like Sudbury's Houston Lake Mining, now entering its eighth consecutive year of work at its West Cedartree gold project southeast of Sioux Narrows, where they have completed two diamond drilling programs on their prospective Dogpaw Lake and Dubenski properties.
Ravnaas said as companies like Houston Lake have expanded their holdings, they get a better handle on the mineralization and where to explore to find more gold.
“This is where you start getting the results."
The Kenora District of northwestern Ontario has a wide basket of commodities in dormant deposits being targeted in gold, copper, nickel and platinum group metals, volcanic massive sulphides, lithium-feldspar, iron, molybdenum, uranium and even diamonds.
Though the area has a rich gold mining history that dates back to the turn of the last century, there are currently no working mines in the area, aside from an open pit quarry operation run by Nelson Granite in Vermilion Bay.
Gazing at coloured blobs and streaks on Ravnaas' geological map in his Kenora office, getting a handle of the regional picture is far from clear.
Gold can pretty much be found anywhere in the gabbro (the area's basic rock formation), said Ravnaas.
That's where the prospector enters the picture, taking samples and coming up with a new rock types for the area.
“It's why we recommend people get out there and ride the logging roads."
Ravnaas said there are a slew of good deposits and significant gold properties that are largely dormant.
His office is the starting point for prospectors and junior mining companies to examine the area's historical records and to analyze the available airborne and lake sediment data.
Along the Highway 17 corridor down to Dryden, Sioux Lookout and Ignace where exploration firms are finding gold, molybdenum, nickel, copper and platinum group metals, silver, zinc and iron.
Companies like Laurentian Goldfields, Treasury Metals, Tamaka Gold and MPH Ventures are in various stages of sampling, drilling in gold zones and conducting airborne surveys. Others like Canadian Arrow Mines, Champion Bear Resources, King's Bay Gold and Teck Cominco are in the early stages of ground exploration, stripping and mapping ground.and planning diamond drill programs.
North and east of Kenora, uranium is catching the attention of companies.
In 1977, the federal government flew an airborne radiometric survey across Canada and plotted a whole smattering of uranium occurrences. Delta Uranium has followed up their own survey and identified 17 potential mineral areas. Now in their third year, they plan to do more ground exploration work this year. They are joined in the area by joint venture partners Quest Uranium and Temex-Nuinsco.
One project that has real mine potential is Canadian Arrow Mines' Kenbridge nickel-copper project near Sioux Narrows, 70 kilometres south of Kenora.
The Sudbury outfit purchased a headframe and hoist before the world money markets tanked last September.
With little market appetite to finance base metal projects, Canadian Arrow president Kim Tyler said very little site prep work will be done on Kenbridge this year, since a production decision is likely two years away.
“There's not much love for nickel copper projects on market,” said Tyler.
It's put further exploration programs on hold while the company gets permits and conducts environmental work.
“We lined up a considerable amount of very good targets and we were just about to start drilling in September and we said, 'no we've got to stretch our money and let's sit tight,'” said Tyler. “We've sat quietly on the side waiting for the storm to pass.”
The company's other Denmark Lake and East Rim Turtlepond Lake projects are drill-ready, but sitting quietly.
However, it didn't stop the company from sending a merger proposal to Ursa Major Minerals, operators of an open pit nickel-copper deposit near Sudbury.
With too many nickel juniors vying for a small amount of investment capital, teaming up with Ursa Major as a “strategic partner” is the best way to propel Kenbridge forward, said Tyler.
Though the deal has to be approved by shareholders from other companies, Ursa Major is generating cash by shipping pre-commercial production crude ore from its Shakespeare pit for processing at Xstrata Nickel – money that can help “bootstrap” the Kenbridge project.
Despite some historically significant high-grade gold, nickel and base metal deposits, exploration remains unfamiliar territory for many people in the region.
It's been learning curve for economic development officials, First Nations and community organizations to re-discover how the industry works.
Ravnaas has been walking them through the mineral development sequence at workshops, explaining communities can take advantage on the servicing end and what potentials jobs are available.
So far, the economic spinoffs are hard to gauge because the activity is in the bush, said Ravnaas.
“It's sort of an industry that's hidden.”
The hard-hit forestry town of Dryden has been the most gung-ho to develop the mining industry in the area. The town invested $25,000 for a small geoscience study that attracted Laurentian Goldfields to explore near the city and web-published an exploration resource guide, a kind of catalogue of local mining service and supply firms.
The sector has real possibility to get bigger. Ravnaas proposed a full-blown government-funded geoscience initiative to local economic development officers to identify about 20 gaps in the OGS' analysis of the district. It would be similar to the successful region-wide programs conducted in Timmins-Kirkland Lake, Greenstone and now Atikokan-Mine Centre.
tajitj, looks interesting. Noticed we both have SRSR. Have you checked out NBRI? Low floater, good claims(over 100)many already proven and because it's still unknown, dirt cheap. Kinda reminds me of SRSR awhile back. Check out the board lot of good info....later.
New PR today!
IP Survey Extends Angel Hill Gold Trend To Over 3.3 Km On Houston Lake Mining's West Cedartree Gold Project
25 Strong Anomalies Independently Recommended for Ground Follow Up; Grab Samples Verify Gold at the Robertson Occurrence 1.4 Km South along Angel Hill IP Trend
http://www.usetdas.com/TDAS/NewsArticle.aspx?NewsID=13829
Sudbury, Ontario CANADA, June 25, 2009 /FSC/ - Houston Lake Mining Inc. (HLM - TSX Venture, HLKMF - OTCBB_Pink_Sheets), is pleased to announce it has received a final geophysical report from JVX Limited of Richmond Hill, Ontario on a recently completed a 24,675 metre spectral IP survey carried out on the Company's 100% owned and optioned 1,674 hectare (4,135 acre) West Cedartree Gold Project located near Kenora, Ontario. JVX reports that 25 strong IP chargeability anomalies are identified in the new survey area and are recommended for follow up investigation.
"Our experience from drilling West Cedartree tells us that the gold mineralization appears to be closely associated with IP chargeability highs," said Grayme Anthony, President and CEO. "The Angel Hill Gold Zone (AHGZ) forms the flank of a coincident magnetic and IP chargeability high that can be traced for over 3.3 km (1.98 miles) on the property. We've hit high-grade gold mineralization along this trend in the past, up to 1.22 metres grading 479 g/t gold. What's truly exciting is that we have identified the largest chargeability anomaly at the extreme southern limit of the IP coverage - an area where we have not yet drilled. The Robertson Occurrence, a historic gold showing, is found near the northern edge of this prominent IP anomaly. This new information leads me to believe we are looking at a much larger system than we originally thought."
The IP survey builds on the coverage provided by previous surveys undertaken in 2006 and 2007 on the project. A total of 66.975 Line-Km (40 Line-Miles) of IP coverage has now been completed and spans the North Block, Dogpaw Lake, Dogpaw West, McLennan and West Cedartree properties. The survey tested responses from surface to a depth of approximately 75m (246ft) over a width of 1km (3280ft) to encompass the AHGZ, the McLennan Gold Zones ("MGZ") and the Dogpaw No. 1 Vein. Expanded coverage is also recommended for the Gold Sun property to the south of the current survey limit. The Dubenski property has seen extensive IP coverage and was surveyed by Matrix GeoTechnologies of Toronto, Ontario (see Press Release Dated April 30, 2009).
The IP method transmits an electrical current through the ground and measures the ground's ability to maintain an electrical charge. A high chargeability reading equates to a relatively high metal content in the underlying rock. A high metal content can be indicative of the presence of disseminated sulphides which may be associated with gold-bearing formations. A chargeability measurement of 25 to 30mV/V is considered a reasonably strong response.
The IP survey depicts two strong, northerly striking, red to fuchsia coloured, IP chargeability anomalies that are associated the Angel Hill and McLennan gold zones. The Angel Hill IP trend is denoted by continuous values of at least 15.3 mV/V with peaks as high as 94.0 mV/V that are traceable for over 3.3km nd span the entire survey area. The McLennan trend is marked by relatively continuous chargeability values of 15.3 mV/V with peaks of up to 56.1 mV/V and are traceable for nearly 2.0 km before appearing to dovetail into the Angel Hill IP trend. The continuity of these IP defined trends seems disrupted only by offsetting northwest to west-northwest striking faults.
An historic gold showing, the Robertson Occurrence has been rediscovered by Houston Lake prospectors along the Angel Hill trend approximately 1.4 km (0.84 miles) to the south of the Angel Hill gold resource. The gold showing is located proximal to the most prominent IP chargeability anomaly in the southern extreme of the IP survey area. The Robertson occurrence is marked by a series of trenches and pits. Grab samples assayed 1.63 to 1.98 g/mt gold from the trenches and contains features similar to that at the Angel Hill gold resource. A second area also returned 1.90 and 3.05 g/mt gold in grab samples. Mechanized stripping of these showings is planned to follow up on these results in the next several weeks.
Angel Hill Gold Zone ("AHGZ")
The AHGZ occurs within a large gabbro sill at the contact of ultramafic rocks forming the footwall to the gabbroic rocks of the hanging wall. Higher gold values (up to 126 g/mt or 3.675 oz/st Au) are associated with discontinuous quartz lenses and pods which tend to be more prolific in wider portions of the zone. The AHGZ can be traced by geophysics for a distance of 3.3km (1.98 miles) on the property to encompass gold-in-soil anomalies and a gold occurrence along its strike extension. The ultramafic-mafic contact is traceable for nearly 6 km (3.6 miles) on the project area.
The AHGZ has an estimated inferred mineral resource of 106,400 tonnes grading 2.97 g/mt Au at a cutoff of 2 g/mt (117,286 short tons grading 0.087 oz/st Au at a cutoff of 0.058 oz/st) or 49,700 tonnes grading 4.77 g/mt Au at a cutoff of 4 g/mt (54,785 short tons grading 0.139 oz/st Au at a cutoff of 0.117 oz/st) (see press release dated October 20, 2005). The inferred mineral resource was determined by systematic channel sampling of a 130m (426ft.) strike length of the AHGZ exposed by stripping and by drilling to a depth of 75m. In 2006 a 1037m (3402ft) drill program was successful in extending the zone to a depth of 100m (328ft). The zone remains open to depth and along strike to the south.
In preparation for a bulk sample a percussion drill hole intersected 1.22 metres grading 479 g/mt gold (4 feet grading 13.97 oz/st Au). In spring of 2006 a bulk sample was taken from the AHGZ and processed at a third party mill. A total of 1041.2 tonnes (1147.7 short tons) yielded an average head grade of 5.67 g/mt Au (0.165 oz/st Au). The total contained gold was 5,903.6 grams (189.8 ounces) and 5,490.4 grams (176.5 ounces) of gold was produced at a reported recovery of 93%. The Company received a cash settlement of $131,893.84 and had a net profit of $51,848.12.
Due Diligence
All samples reported were shipped to TSL Laboratories, an ISO accredited facility, of Saskatoon, Saskatchewan. Samples were analyzed by fire assay utilizing a 50 gram charge. All samples were assayed with an AA finish and those samples assaying above 3 g/mt gold were retested utilizing a gravimetric finish. The samples will also be re-checked at a second qualified laboratory in keeping with the Company's standard due diligence procedures.
Dean R. Cutting, P. Geo., Independent Consulting Geologist and E. Grayme Anthony, P. Geo., President of the Company, are the Qualified Persons under the guidelines of NI 43-101 for the technical aspects of this news release.
About Houston Lake Mining Inc.
Houston Lake is an advanced, vertically integrated resource exploration company. The Company is actively exploring for gold, platinum group metal and rare metal deposits in northwestern Ontario with a strategic focus on the West Cedartree gold project. Houston Lake's objective is to become a gold producer by surface mining its West Cedartree gold project and developing its 100% owned and optioned properties. The Company has a total of 34,657,638 common shares issued and outstanding. For additional information, please visit us at www.houstonlakemining.com.
Company Contacts
Houston Lake Mining In Canada: Linx Partners Ltd.
E. Grayme Anthony P.Geo., MBA Wanda Cutler Tel: 416-603-4646
President and CEO
Tel: 705-897-7622 In United States: ICS
Fax: 705-897-7618 George Duggan Tel: 818-542-6880 ganthony@vianet.on.ca
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.
www.houstonlakemining.com
Houston Lake Mining Raises $100,000 in a Private Placement Financing
http://www.usetdas.com/TDAS/NewsArticle.aspx?NewsID=13784
Proceeds to be Used Mainly for Exploration at West Cedartree
Sudbury, Ontario CANADA, June 17, 2009 /FSC/ - Houston Lake Mining Inc. (HLM - TSX Venture, HLKMF - OTCBB_Pink_Sheets), is pleased to report it has completed a $100,000 offering that will be used for working capital purposes to advance exploration activities at its West Cedartree Gold Project in Ontario.
The funds were raised through the sale of 400,000 units priced at $0.25 per unit in a non-brokered private placement, subject to regulatory approval. Each unit consisted of one common share and one half common share purchase warrant. Each whole warrant is exercisable into one common share at an exercise price of $0.35 for 24 months from the closing date of June 16, 2009.
Proceeds from the offering will finance ongoing exploration activities at Houston Lake's 100% owned and 100% optioned gold properties near Kenora, Ontario. The Company has eight contiguous properties that comprise its West Cedartree Gold Project. In April, management concluded a highly successful winter diamond drill program at the Dubenski property. Surface exploration is under way at the neighbouring McLennan and Dogpaw Lake properties.
"With the closing of this financing we are well positioned to continue our aggressive exploration at West Cedartree," said Grayme Anthony, President and CEO. "Work continues to expand the potential of the Dogpaw Lake property and we look ahead to an updated resource calculation on the Dubenski property."
All securities issued in connection with this financing have a hold period of four months. A finder's fee of $10,000 (10% of the gross proceeds) and 40,000 agent's options (10% of the total issuance) are payable pursuant to the offering. Each agent's option is exercisable at an exercise price of $0.25 into one common share and one broker warrant for a period of two years, with each broker warrant exercisable at a price of $0.35 into one common share for a period of two years.
Houston Lake Mining Raises $100,000 in a Private Placement Financing
http://www.usetdas.com/TDAS/NewsArticle.aspx?NewsID=13784
Proceeds to be Used Mainly for Exploration at West Cedartree
Sudbury, Ontario CANADA, June 17, 2009 /FSC/ - Houston Lake Mining Inc. (HLM - TSX Venture, HLKMF - OTCBB_Pink_Sheets), is pleased to report it has completed a $100,000 offering that will be used for working capital purposes to advance exploration activities at its West Cedartree Gold Project in Ontario.
The funds were raised through the sale of 400,000 units priced at $0.25 per unit in a non-brokered private placement, subject to regulatory approval. Each unit consisted of one common share and one half common share purchase warrant. Each whole warrant is exercisable into one common share at an exercise price of $0.35 for 24 months from the closing date of June 16, 2009.
Proceeds from the offering will finance ongoing exploration activities at Houston Lake's 100% owned and 100% optioned gold properties near Kenora, Ontario. The Company has eight contiguous properties that comprise its West Cedartree Gold Project. In April, management concluded a highly successful winter diamond drill program at the Dubenski property. Surface exploration is under way at the neighbouring McLennan and Dogpaw Lake properties.
"With the closing of this financing we are well positioned to continue our aggressive exploration at West Cedartree," said Grayme Anthony, President and CEO. "Work continues to expand the potential of the Dogpaw Lake property and we look ahead to an updated resource calculation on the Dubenski property."
All securities issued in connection with this financing have a hold period of four months. A finder's fee of $10,000 (10% of the gross proceeds) and 40,000 agent's options (10% of the total issuance) are payable pursuant to the offering. Each agent's option is exercisable at an exercise price of $0.25 into one common share and one broker warrant for a period of two years, with each broker warrant exercisable at a price of $0.35 into one common share for a period of two years.
Company has around $75+ million in NI 43-101 compliant reserves.
That will be increased this summer by possibly 6X with the updated NI 43-101 report issued on the Dubenski and Dogpaw Vien 1 and 2.
Presidents Update June 09
http://www.houstonlakemining.com/images/HLM-Shareholder-letter-2009-update.pdf
Houston Lake Mining Continues To Encounter High Grade Gold In Drilling Along The Dubenski Gold Trend
http://www.houstonlakemining.com/index.php?option=com_content&task=view&id=199&Itemid=105
Drilling Extends Gold Mineralization To Over 365 Metres On Houston Lake Mining’s Dubenski Property
http://www.houstonlakemining.com/index.php?option=com_content&task=view&id=197&Itemid=105
Drilling Extends Gold Mineralization To Over 365 Metres On Houston Lake Mining’s Dubenski Property
http://www.houstonlakemining.com/index.php?option=com_content&task=view&id=197&Itemid=105
NEWS: Houston Lake Mining Provides Exploration Update On
http://www.houstonlakemining.com/index.php?option=com_content&task=view&id=196&Itemid=105
so tell us something about this co. what dose it have ? what dose it mine. gold ,diamons, oil .or gas.
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HLM is a specialized mining exploration company actively engaged in the acquisition, exploration and development of hard rock, high grade, multi-element and rare metal resource properties. HLM maintains a particular focus on lithium (Li), and tantalum (Ta), rubidium (Rb) and cesium (Cs) by its world class expertise and experience exploring for LCT classified pegmatites.
HLM’s goal is to become a fully integrated lithium and tantalum producer by targeting the growth as a result of the shift towards electric/hybrid vehicles and high quality consumer electronics through the development of the PAK Rare Metals Project in Ontario, Canada. HLM’s Board of Directors and management combined have over 255 years of exploration and mining experience in order to facilitate the Company’s goal of 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.
HLM is actively exploring its 100% owned and optioned PAK Rare Metals Project where recently a Phase I, 1,000m 6-hole diamond drill program was completed intersecting wide pegmatite zones containing high-grade lithium and tantalum with possible byproduct potential for rubidium and cesium on the Pakeagama Lake pegmatite in northwestern Ontario, Canada.
Experienced Team: HLM's board of directors and management have over 220 years of combined finance, exploration & mining experience to guide the Company's properties toward production.
Market fundamentals: Strong market price and outlook for strategic metals lithium, tantalum, rubidium and cesium. More specifically, unlike most commodities, lithium and tantalum demand is forecast to grow by at least 7.5% per year until 2020.
Proven track record: Successful property selection, acquisition and exploration results. The PAK Rare Metals Project’s Pakeagama Lake pegmatite has recently displayed through a Phase I, 1,000m diamond drill program high grade lithium, tantalum, and rubidium up to 4.22% Li2O over 18 meters in diamond drill hole (DDH) 003 and 236 ppm Ta2O5 over 19m in DDH 005 in two distinct pegmatite zones. DDH 001 averaged 0.41% Rb2O over three distinct pegmatite zones in 154.55m.
Growth Oriented Results: The Pakeagama Lake pegmatite has a 250m strike length with an estimated width varying from 45 to 125m assuming sub-vertical orientation of the pegmatite and remains open in all directions (WNW, ESE and at depth).
Strategic Differentiation: HLM’s experience fosters production as a strategic corporate objective in order to maximize future value to shareholders.
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