HLM Drills The Pak Inferred Resource Intersecting 2.01% Lithium Oxide Over 60 Metres And Increases The Strike Length By 50%
Sudbury, Ontario – November 11, 2014 – Houston Lake Mining Inc. (TSX.V: HLM), is a mining exploration company that is specialized in rare-metals and is actively exploring for lithium (Li), tantalum (Ta), rubidium (Rb) and cesium (Cs) by focusing on its high-grade, 100% owned and optioned 4,032 hectare (9,963 acre) PAK Rare Metals Project in northwestern Ontario, Canada. HLM is pleased to announce the results of five (5) drill holes designed to test along strike from the 2014 Phase II, nine-hole diamond drill program on the Pakeagama Lake pegmatite. The assay and collar data for the 5 holes reported are presented in Tables I and II.
- Diamond Drill Hole (DDH) PL-010-14 intersected 2.01% Li2O over 60.70 metre (m) from 168.3m to 229 m;
- DDH PL-010-14 includes a 22 m wide lithium zone (Lower Intermediate [LIZ]) averaging 2.46% Li2O from 171 to 193 m;
- DDH PL-010-14 and DDH PL-008-14 increases the deposits strike length from 265m to 400m;
- Mineralization remains open to depth and along strike to the northwest and southeast.
The primary objective of these holes was to test the deposit along strike from previously drilled holes. The intersection summaries for the two drill holes outlined in Table I below have confirmed continuity of the zones. DDH PL-010-14 was drilled ESE of PL-001-13 (Phase I drill program) and extended the strike length by approximately 56m to the ESE and also further defined the bounding contacts with the host rock(s). DDH’s PL-007-14 and 008-14 were drilled WNW of PL-003-14 and although some relative pinching of the pegmatite has occurred the holes have extended the strike length by approximately 110m to the WNW from the current inferred resource estimate. Table I summarizes the lithium, cesium, tantalum and rubidium grades for the two 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) Li20 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) and Lower Intermediate Zones (LIZ) 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.
“These drill holes were planned with an objective of potentially increasing the strike length of the deposit. The September 24, 2014 press release which positively displayed that the pegmatite’s grade x thickness is persisting with depth, coupled with the results from this press release have increased the overall geometry and should result in a tonnage increase to the maiden resource estimate”, commented Trevor R. Walker, President of HLM. “We are extremely pleased with the overall results from the Phase II diamond drill program and can conclude that the Pakeagama Lake pegmatite is robust with analogous features to the high grade, multi-element, and large tonnage of the prolific Tanco pegmatite in southeastern Manitoba and the Greenbushes pegmatite in Western Australia”.
Table II– Collar Locations for Diamond Drill Hole (DDH)
The Company also announces that it has granted incentive stock options totalling 450,000 to a consultant. The options are set for a period of five years, expiring on November 11, 2019. The options are priced at $0.135 and are subject to regulatory approval. The Company also announces that by written consent of the shareholders on September 25, 2014, the resolution proposed was duly passed for the issuance of 2,500,000 common shares relating to a settlement of $200,000 of debt due to a company owned by one “non-arm’s length” individual. The common shares were a part of an aggregate 3,991,000 shares for debt settlement that have now been approved. Following the foregoing issuance of shares in settlement of debt, the Company will have 90,807,595 shares outstanding.
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 AcmeLabs’ (A Bureau Veritas Group Company), an ISO accredited laboratory in Vancouver, British Columbia. 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.