Highlights: Diamond Drill Hole (DDH) PL-020-15 intersected 2.02% Li(2)O over 66.05metre (m) from 79.50m to 145.55m; DDH PL-020-15 includes a 5.85m wide lithium zone (Upper Intermediate Zone or UIZ) averaging 4.15% Li(2)2O from 80.05m to 85.90m; and Mineralization remains open to depth and along strike to the northwest and southeast.
SUDBURY, ON / ACCESSWIRE / June 24, 2015 / Houston Lake Mining Inc. (TSX.V: HLM)
HLM is pleased to announce the results of four (4) infill drill holes designed to increase the confidence level of the Pakeagama Lake pegmatite deposit model in preparation for an updated resource statement expected prior to year-end. The assay and collar data for the 4 holes reported are presented in Tables I and II, respectively.
The intersection summaries including the four drill holes general location and purpose are outlined in Table I below. The table also summarizes the lithium, cesium, tantalum and rubidium grades for the four drill holes by mineralogical zones for the pegmatite intersections.
Table I – Core Length Intercepts (Pakeagama Lake pegmatite)
(1) The intervals in Table I are drill intersection widths. There is currently insufficient data to determine the true thickness of the pegmatite.
(2) Li(2)0 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), Lower Intermediate Zones (LIZ) and Wall Zone (WZ) 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. The scissor pair of DDH 15 and DDH-20 show that the granite observed at surface and cut in the top of DDH-15 does not persist at depth where the deeper portion of DDH-20 cut pegmatite.
“We are pleased with these infill results from the Phase III diamond drill program as all of the holes consolidate the Inferred and Indicated Resource Estimate announced January 28, 2015(1),” commented Trevor R. Walker, President of HLM. “The mineralized pegmatite intersections totalling 98.65m in DDH PL-020-15 will positively expand the current mineral resource estimate’s tonnage.”
(1) See HLM Press Release January 28, 2015 titled “HLM Announces an Upgraded NI 43-101 Resource Estimate for the PAK Rare Metals Project in Ontario, Canada.”
Table II– Collar Locations for Diamond Drill Hole (DDH)
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 Activation Laboratories Ltd. (“Actlabs”), an ISO accredited laboratory in Ancaster, Ontario. 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 Lithium Project
The PAK Lithium 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) type pegmatite. These types of pegmatites 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% Li(2)O Eq. which has a technical/ceramic grade spodumene with low inherent iron (below 0.1% Fe2O3) . 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. The Phase III, 1,500m diamond drill program was conducted with the objective 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 104,791,629 common shares issued and outstanding. For additional information, please visit the company website at 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.
SOURCE: Houston Lake Mining Inc.
ReleaseID: 430113
