Houston Lake Mining Inc. (TSX-V: HLM) (PINKSHEETS: HLKMF), an
advanced exploration company seeking gold, platinum group and rare
metal deposits in Ontario, is pleased to announce that a 2000m
(6,560 ft.) diamond drill program has commenced on the Dubenski
Shaft Zone historic gold resource. Drilling by Houston Lake last
winter has defined the Shaft Zone to a depth of approximately 100
metres (328 feet). The current drill program aims to extend the
Shaft Zone down plunge below the previous drilling. Results are
expected in 6 to 8 weeks and will be announced as soon as they are
received.
"Last winter's drill program at the Dubenski Shaft Zone returned
some of the best gold intercepts in Houston Lake's history," said
E. Grayme Anthony, President and Chief Executive Officer. "While we
were aware that gold mineralization was present, the significant
widths encountered came as a surprise. We look forward to building
on our initial success at Dubenski."
Table 1. Selected Core Length Intercepts, Dubenski Shaft Zone,
2008 Drill Program,
Drill Hole From To Intercept Gold Intercept Gold
Number (m) (m) (m) (g/mt) (ft) (oz/st)
DB-08-15 12.10 51.00 38.90 20.44 127.59 0.596
(-67 degrees)
Incl. 13.00 35.00 22.00 35.68 72.16 1.041
DB-08-09 41.00 68.00 27.00 12.95 88.56 0.378
(-45 degrees)
Incl. 50.00 58.00 8.00 40.99 26.24 1.196
DB-08-07 102.00 135.00 33.00 12.11 108.24 0.353
(-45 degrees)
Incl. 115.00 124.00 9.00 40.70 29.52 1.187
DB-08-06 94.70 132.00 37.30 8.28 122.30 0.241
(-45 degrees)
Incl. 102.00 109.00 7.00 35.31 22.96 1.030
The above table illustrates highlights of the winter 2008 drill
program (see Company press release dated May 1, 2008). The holes
were drilled at 45 degrees to 67 degrees and the results are
reported as core lengths. True widths will be reported once the
geometry of the gold zone has been determined.
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), Dogpaw Lake No. 1
Vein (historic) and Dubenski Shaft (historic).
The Dubenski property contains an historic resource of 355,286
tonnes grading 6.32 g/mt gold (391,636 tons averaging 0.184 oz/st
gold), which was reported to extend to a depth of 150m (492 ft.)
and includes the Shaft, Central and East Zones. However, a 17 hole,
1,798.6 metre (5,899.4 foot) delineation drill program was
completed in March and encountered much greater widths than had
previously been reported (see Table 1 and Company Press Release
dated May 1, 2008).
Consulting geologists Watts Griffis and McOuat (WGM) of Toronto
managed the drill program at Dubenski and have been contracted to
complete an NI 43-101 report on the Shaft Zone resource. The NI
43-101 compliant Technical Report and Mineral Resource Estimate is
expected by the end of November. The upcoming 2,000m (6,560 ft.)
drill program is planned to test the down plunge extension of the
Shaft Zone and expand the potential gold resource to a depth of
150m (492 feet). Results from this new drill program will not be
considered in the WGM report.
A deep IP survey was conducted in February and March of 2008 by
Matrix GeoTechnologies Ltd. ("Matrix") of Toronto. The survey
identified a strong conductive anomaly that is continuous for over
1,200 metres (3,936 ft.) and coincides with the Shaft, Central and
East Zones of Dubenski. The chargeability responses associated with
the resistivity anomaly at Dubenski appear to strengthen with depth
and may indicate the possible down plunge extension of the Shaft
Zone mineralization on the property. Houston Lake has commissioned
Matrix to 3D model the chargeability and IP responses to increase
the geological understanding of the Shaft Zone environment and
refine drill targeting. The 3D models are expected by the first
week of November.
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.
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.
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
31,198,881 common shares issued and outstanding. For additional
information, please visit us at www.houstonlakemining.com.
Forward-looking Statements
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 that are available at
www.sedar.com.
Distributed by Filing Services Canada and retransmitted by
Marketwire
Company Contacts Houston Lake Mining E. Grayme Anthony, P.Geo.,
MBA President and CEO Tel: 705-897-7622 Fax: 705-897-7618 Email
Contact In Canada: Linx Partners Ltd. Wanda Cutler Tel:
416-303-6460 In United States: ICS George Duggan Tel:
818-542-6880
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