Houston Lake Mining Begins Phase III Drilling at Dubenski Property
Dubenski Shaft Zone Extended to a Strike Length of over 215 Metres
Sixty-Two Samples Shipped for Gold Fire Assay Analysis
Sudbury, Ontario CANADA, March 12, 2009 /FSC/ - Houston Lake Mining Inc. (HLM - TSX Venture, HLKMF - OTCBB_Pink_Sheets), an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, is pleased to announce that a 20 hole, 2,000 metre (6,560 ft.) diamond drill program has begun on the Company's 100 percent optioned Dubenski Property located near Kenora, Ontario. A total of 62 drill core samples have been shipped for assay analysis thus far.
"Our initial Phase III drilling has encountered altered rocks typical of the Dubenski Shaft Zone," commented E. Grayme Anthony, President and Chief Executive Officer. "It is important to note that these new intercepts now extend the Dubenski Shaft Zone for a strike length of over 215 metres (705.2 ft.). We eagerly await assay results which are expected in 6 to 8 weeks time. Given our exceptional results to date it will be necessary to update the resource calculation and we expect to do so following the Phase III program."
Drilling by Houston Lake last winter has defined the Shaft Zone for a strike length of 60 metres (197 feet) and to a depth of approximately 100 metres (328 feet). Phase II drilling has traced the gold mineralized rocks of the Shaft Zone for a total strike length of 170 metres (557 feet). The Phase III drill program aims to further expand the Shaft Zone along strike and to initiate testing of the East and Central Zones.
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 are estimated to be 70.7 percent of the core lengths reported for the 45 degree and 39.1 percent of the 67 degree holes.
Exploration work involving IP surveying along the Dubenski trend has been completed By Matrix GeoTechnologies of Toronto. The preliminary geophysical results (chargeability and resistivity) continue to illustrate the lateral continuity of the Dubenski gold mineralization. Geophysical responses also increase with depth suggesting a deep rooted source to the gold mineralization. Additional IP surveys are slated for March to further define the Angel Hill, McLennan and Dogpaw Vein No. 1 trends on the adjacent West Cedartree and Dogpaw Lake properties.
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 (NI 43-101 compliant).
The Dubenski property contains an historic resource which was reported to extend to a depth of 150m (492 ft.) and includes the Shaft, Central and East Zones. Consulting geologists Watts Griffis and McOuat (WGM) of Toronto were contracted to carry out a technical review of the Dubenski Property and design and supervise a definition drilling program in order to prepare a NI 43-101 compliant Mineral Resource estimate for the Dubenski Shaft Zone portion of the historic gold resource (see Company Press Release dated January 16, 2009). The categorized Mineral Resources at a 1.0 g Au/t cutoff are:
Table 2. Summary of Shaft Zone Mineral Resource Estimate
(Cutoff of 1.0 g Au/t)
Notes: Au is capped at 50 g/t, assumed gold price was US$650/ounce
The NI 43-101 report is now available at www.sedar.com and at the Company's website at www.houstonlakemining.com.
All samples reported were shipped to TSL Laboratories, an ISO accredited facility, of Saskatoon, Saskatchewan. Samples 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.
Bryan McKay, P. Geo., Independent Consulting Geologist and E. Grayme Anthony, P. Geo., President of the Company, are the Qualified Persons 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 33,716,213 common shares issued and outstanding. For additional information, please visit us at www.houstonlakemining.com.
Houston Lake Mining In Canada: Linx Partners Ltd.
E. Grayme Anthony P.Geo., MBA Wanda Cutler Tel: 416-303-6460
President and CEO
Tel: 705-897-7622 In United States: ICS
Fax: 705-897-7618 George Duggan Tel: 818-542-6880
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.
Source: Houston Lake Mining Inc. (TSX-V: HLM) (Pink Sheets: HLKMF) http://www.houstonlakemining.com
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