Monday, March 23, 2015 10:10:44 AM
Sudbury, Ontario (FSCwire) - HLM has commenced the next phase of determining the potential for commercializing the PAK deposit by bulk sampling the lithium zone of the pegmatite. The preparation of the 300t (approx.) bulk sample will be completed by the end of March 2015. The objectives are to evaluate production of spodumene-bearing product as a precursor to potential commercial scale spodumene concentrate production, to test the suitability of the product for direct use as a replacement for lithium mineral concentrates, test blasting parameters and mining logistics with existing haulage infrastructure[1]. The scope of a future Pre-feasibility Study will be shaped by the results of this phase of testing.
The results of the 2013 and 2014 exploration programs on the PAK Lithium Project’s property, point to the deposit having the potential to be developed as a commercial supplier of technical grade lithium minerals. HLM is pursuing this potential with the aim of taking the PAK Lithium Project to market during the coming 3-5 years.
The characteristics of the high grade spodumene-bearing product comprising the Upper Intermediate Zone (“UIZ”) indicate there is potential for near term extraction of product from the zone that is suitable for use in traditional technical applications for spodumene concentrates (such as production of ceramics, frit, glass and glass ceramic). Production of this crushed and ground product without up-grading by flotation or gravity separation (Direct Shipping Ore “DSO”) could provide HLM with a source of useful revenue at low capital cost during the preparation of the Pre-feasibility and Feasibility Studies for the construction of a concentrator facility.
The key needs of the technical lithium users are low iron to lithia analysis ratio to avoid colouration of glass and glazes, consistent product analysis and particle size, and competitive cost. The lithium zone from which the bulk sample was extracted appears to have the pertinent mineralogical and chemical characteristics so it will be pilot-tested to validate the data that support these observations.
The sample has been collected by surface trenching of an area in the UIZ where there is discontinuous, limited overburden (<.5m) cover. The sample has been shipped from the property, and sample processing and transportation is expected to commence in the next few weeks.
The 2015 program for the PAK Lithium Project includes:
the collection of approximately 300 tonnes bulk sample from the Pakeagama Lake (PAK) pegmatite
commercial evaluation of the sample product
assessing the viability of interim DSO production
scoping and commencing the Pre-feasibility Study
“The bulk sample is the next step in HLM’s goal of becoming a fully integrated lithium, tantalum and rubidium producer by first establishing the ability of the Pakeagama Lake pegmatite deposit to produce a technical grade quality spodumene product for use in production of specialty glass and ceramics”, commented Trevor Walker, President of HLM. “The initial targeting of this lithium market segment is a logical introduction (based on low capital expenditure) of our long term strategy of supplying a wide range of rare metal products used in “green technology” applications. Spodumene helps the specialty glass and ceramics sector achieve efficiencies that reduce consumption of fossil fuels, energy costs and greenhouse gas emissions. Further “green” uses would be lithium compounds required for the electrification of transportation and other energy storage applications.”
Mr. Peter J. Vanstone, P.Geo., is an independent "Qualified Person" to HLM defined under NI 43-101 and has reviewed and approved the technical information contained in this news release.
About the PAK Lithium 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 types of deposits have been the principal source of hard rock lithium, tantalum, rubidium and cesium ores mined in the world but there are comparatively few commercially-viable deposits.
HLM is actively exploring its 100% owned and optioned project which contains the Pakeagama Lake pegmatite. The deposit is one of the highest grade lithium deposits in North America which has a current Indicated Resource of 2.45 million tonnes of 1.81% Li2O Eq. and Inferred Resource of 5.91 million tonnes of 2.01% Li2O Eq. which has a technical/ceramic grade spodumene with low inherent iron (below 0.1% Fe2O3)[2]. The deposit has adjacent zones that are enriched in rubidium and tantalum. HLM is also evaluating the phased co-production of rubidium and tantalum concentrates once lithium mineral production has been commercialized.
The deposit has a known 400m strike length with an estimated true width varying from 10m to 125m with a sub-vertical orientation. The resource remains open to depth and along strike to the northwest and southeast. A Phase III, 1,500m diamond drill program is currently being conducted whereby the objective is to upgrade the lithium Indicated mineral resource to a Measured category, and to possibly upgrade the Inferred mineral resource to a Measured and Indicated category.
About Houston Lake Mining Inc.
HLM’s goal is to become a fully integrated lithium, rubidium 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 facilitate the Company’s goal.
HLM has a total of 93,908,003 common shares issued and outstanding. For additional information, please visit www.houstonlakemining.com.
Company Contact Information
Trevor R. Walker, President
2736 Belisle Drive
Val Caron, ON.
Henry Kloepper, CEO
T. +001 416.520.0187
P3N 1B3 CANADA
T. +001 705.897.7622
Recent FL News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 09/11/2024 08:11:08 PM
- Foot Locker Celebrates 50 Years of Sneaker Leadership with Exclusive Collection and Celebration Throughout September • PR Newswire (US) • 09/05/2024 12:00:00 PM
- Big Lots Falls 27%, Considers Bankruptcy; DraftKings Acquires Simplebet, Berkshire Hits $1 Trillion • IH Market News • 08/29/2024 10:06:50 AM
- FOOT LOCKER, INC. TO PRESENT AT THE GOLDMAN SACHS 31ST ANNUAL GLOBAL RETAILING CONFERENCE • PR Newswire (US) • 08/28/2024 08:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/28/2024 01:03:36 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/28/2024 11:00:13 AM
- FOOT LOCKER, INC. REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS; REAFFIRMS 2024 OUTLOOK; ANNOUNCES STRATEGIC UPDATES IN SUPPORT OF LACE UP PLAN • PR Newswire (US) • 08/28/2024 10:45:00 AM
- U.S. Futures Edge Up as Nvidia Earnings Loom, Oil Prices Slide • IH Market News • 08/28/2024 09:52:22 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/27/2024 01:53:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/26/2024 11:08:13 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/23/2024 01:08:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/22/2024 01:09:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 08:05:18 PM
- FOOT LOCKER, INC. TO REPORT SECOND QUARTER FINANCIAL RESULTS ON WEDNESDAY, AUGUST 28 • PR Newswire (US) • 07/31/2024 10:45:00 AM
- BP Slashes Profit Forecast by $700 Million; Morgan Stanley Predicts S&P 500 10% Drop, and More News • IH Market News • 07/09/2024 10:54:32 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/08/2024 08:16:11 PM
- FOOT LOCKER REIMAGINES SNEAKER SHOPPING EXPERIENCE WITH FLX REWARDS PROGRAM RELAUNCH • PR Newswire (US) • 06/25/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/14/2024 08:05:36 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 06/12/2024 08:13:29 PM
- Kohl’s, UiPath Shares Down, Foot Locker and Okta Should Rise • IH Market News • 05/30/2024 01:13:06 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/30/2024 11:00:12 AM
- FOOT LOCKER, INC. REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS; REAFFIRMS 2024 OUTLOOK • PR Newswire (US) • 05/30/2024 10:45:00 AM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/28/2024 08:22:38 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/23/2024 08:09:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:56:23 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM