Phase III Diamond Drill Program Commences On The Pak Rare Metals Project In Ontario
Sudbury, Ontario – February 24, 2015 - Houston Lake Mining Inc. (TSX.V: HLM), is a mining exploration company which is actively exploring for rare metals lithium, tantalum, rubidium and cesium by currently advancing 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 in the Red Lake area of Ontario. The phase III diamond drill program is a follow-up to the Canadian National Instrument (N.I.) 43-101 mineral resource estimate news release that was disseminated January 28th, 2015. The Phase III Drill Program is designed to infill the current resource on the property.
The current drill program will consist of approximately 1,500m in six holes targeting the Pakeagama Lake pegmatite. The objective of the program is to upgrade the Indicated mineral resource of the 2.45 million tonnes grading at 1.81% Li2O equivalent (eq.), to a Measured category, and (2) to possibly upgrade the Inferred mineral resource of 5.91 million tonnes grading at 2.01% Li2O eq. to a Measured and Indicated category. The drilling will be completed before the end of this winter and results will be reported as they are received and interpreted.
About Frontier Lithium Inc. HLM’s goal is to become a fully integrated lithium, rubidium and tantalum producer with development of the PAK Lithium Project in Ontario, Canada. Based on the PAK deposit’s high-purity, technical-grade spodumene, a relatively lower capital requirement to enter in to the lithium supply market is possible by firstly becoming a technical-grade lithium concentrate supplier. HLM is focused on a staged approach to indirectly participate in the burgeoning lithium battery industry by taking advantage of the disruptive change to market fundamentals by targeting the ceramic-glass industry (industrial users). Currently, the glass/ceramics segment is the second largest in total lithium demand whereby supply pressure is taking place due to the threat of lithium battery growth.
Company Contact Information Trevor R. Walker, President 2736 Belisle Drive Val Caron, ON. P3N 1B3 CANADA T.+001 705.897.7622 F.+001 705.897.7618
Forward-looking Statements 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 https://www.sedar.com
Get all the latest on Frontier Lithium
Stay informed and sign up for our electronic newsletter. Add your email to our list.