HotWiredStocks.com Announces Major Drilling Results For Houston Lake Mining Inc.
Added: (Wed Apr 11 2007)
Pressbox (Press Release) -
Houston Lake Mining Inc. (HLM-TSX.V)
Houston Lake Drills 29.90 g/mt Au over 7.50m Confirming High Grade Gold Mineralization at West Cedartree
April 10, 2007: Sudbury, Ontario, Canada - Houston Lake Mining Inc. (TSX.V: HLM, the "Company") is pleased to announce results from the first 5 drill holes of a 17 hole, 2561m (8400ft) delineation drilling program on the 100% optioned Dogpaw Lake Property. The Dogpaw Lake Property forms part of the Company’s 100% owned and optioned 1310 hectare (3236 acre) West Cedartree Gold Project located near Sioux Narrows, Ontario.
All five drill holes encountered significant gold values in excess of 3.5 g/mt Au (0.100 oz/st Au). The 50 samples assayed from trace values to 435.6 g/mt Au (12.705 oz/st Au) and had an arithmetic average of 13.26 g/mt Au (0.387 oz/st Au). The best result was received from Drill Hole DP-2007-042 which yielded a core length intersection grading 29.90 g/mt Au over 7.50m (0.872 oz/st Au over 24.60 ft.). This hole was drilled in the vicinity of Drill hole DP-97-03 and served to confirm the reported historic drill results of 36.44g/mt Au over 8.00m (1.063 oz/st over 26.24ft). Drill hole DP-046 also encountered significant gold grading 13.37g/mt over a core length of 3.80 m (0.390 oz/st Au over 12.46ft) at an approximate depth of 72m (236ft). The next set of drill results are expected to be received within the next several weeks.
A 2561m (8400ft) delineation drilling program commenced on February 15, 2007 and targeted the historic gold resource of the Dogpaw No. 1 Vein. The aim of the program is to upgrade the historic resource to modern NI43-101 standards by providing systematic coverage of the gold mineralization and by confirming results of past drill programs where available. The Company’s exploration team have located, recovered and racked approximately 6,656m (21,831ft) of drill core from two previous drill programs. This drill core is in the process of being re-logged and audited as part of the resource evaluation.
The drill program successfully intersected the highly altered rock of the vein system to a depth of approximately 200m (656ft) and the vein system remains open to depth and along strike. The first five holes of the program, DP-042 to DP-046, were drilled along Sections 1075W and 1100W and were planned to intersect the Dogpaw No. 1 Vein below the bulk sample pit at depths ranging between 23m to 80m (75ft to 260ft). The Dogpaw No. 1 Vein is presumed to initially dip to Grid North at 70 degrees. True widths would therefore approximately be: 94% of the stated core lengths of the drill holes with 40° dips, 82% of the stated core lengths of the drill holes with 55° dips and 77% of the core lengths of the drill holes with 60° dips.
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The TSX Venture Exchange has not reviewed and does not accept 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.