Diamond Drill Program Commences on the PAK Rare Metals Project in Ontario
March 1, 2013 (Source: heraldonline) Sudbury, ON — Houston Lake Mining Inc. (TSX.V: HLM), is a mining exploration company which is actively exploring for the rare metals lithium, cesium, tantalum, and rubidium by currently focusing on its 100% owned and optioned PAK Rare Metals Project in northwestern Ontario, Canada. HLM is pleased to announce the commencement of diamond drilling on the PAK Rare Metals Project, located near Red Lake, Ontario. This initial phase I of diamond drilling is follow-up to the 2012 PAK exploration program which included surface channel samples of the Pakeagama Lake pegmatite (see news releases dated January 10th and 29th, 2013). The drill program will focus on drill targets derived from the high grade mineralization encountered in various zones at surface.
The current drill program consists of 1,000 m in six holes. The objectives of the program are (1) to determine the orientation, thickness and zonation of the Pakeagama Lake pegmatite, and (2) to refine the mineralogical characterization of these zones by better establishing their lithium, tantalum, cesium and rubidium potential. The drilling will be completed before the end of this winter and results will be reported as they are received and interpreted.
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The Pakeagama Lake pegmatite currently has a strike length of over 200m with a width up to 150m at surface with mineralization that is open in all directions. In September 2012, Peter J. Vanstone, P.Geo. the qualified person for the project, conducted a 91 sample channel sampling program on the exposed Pakeagama Lake pegmatite in order to confirm historical results and to add additional channel samples while further sampling by distinct geologic zones. The results of the program have so far identified high grade lithium up to 4.74% Li2O over 15 meters in three distinct pegmatite zones, and high grade tantalum up to 192ppm Ta2O5 over 14 meters in one of these zones.
HLM is a mining exploration company that is actively exploring for the rare metals lithium, cesium, tantalum, and rubidium and is currently focusing on its 100% owned and optioned Pak Lithium Project in northwestern Ontario, Canada. HLM has a total of 63,019,056 common shares issued and outstanding.
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.
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