SUDBURY, Ontario--(BUSINESS WIRE)--Houston Lake Mining Inc. (TSX.V: HLM), is a mining exploration company that is actively exploring for the rare metals lithium, rubidium, cesium and tantalum by currently advancing its 100% owned and optioned PAK Rare Metals Project in northwestern Ontario, Canada. HLM is pleased to announce the recent staking of prospective and adjacent grounds which substantially increases the Company’s controlled land position and size of the PAK Rare Metals Project to 4,032 hectares (9,963 acres).
“The recently completed maiden resource calculation and Phase II diamond drill program (results pending and expected in the near future), coupled with the increased property size confirms HLM’s commitment to the strong market interest in lithium and other strategic metals”, said Trevor R. Walker, President of HLM. “HLM remains focused on our investments in a leading exploration target with the unique high-grade, multi-element Pakeagama Lake pegmatite on the PAK Rare Metals Project.”
About the PAK Rare Metals Project
The PAK Rare Metals
Project lies close to the boundary between two geological sub-provinces
of the western Superior geologic province in northwestern Ontario and
hosts a rare metals pegmatite deposit. The deposit is an LCT (lithium-
cesium- tantalum) classified pegmatite. These rare types of deposits
have been the principal source of hard rock lithium, tantalum, rubidium
and cesium ores mined in the world.
HLM is actively developing its 100% owned and optioned project which contains the Pakeagama Lake pegmatite. The deposit is one of the highest grade deposits in North America which has a current Inferred Resource of 6.89 million tonnes of 1.86% Li2O Eq. which has a technical/ceramic grade spodumene with low inherent iron (below 0.1% Fe2O3). Within the deposit, the pegmatite uniquely hosts an Upper Intermediate Zone of 1.17million tonnes grading 3.44% Li2O. The pegmatite has a 265m strike length with an estimated width varying from 45 to 125m with a sub-vertical orientation. The resource remains open to depth and along strike to the northwest and southeast. An 8-hole, 1,500m Phase II diamond drill program was completed in late March 2014; assay results for this program are pending and expected in the near future.
About Houston Lake Mining Inc.
HLM’s goal is to become a
fully integrated lithium and tantalum producer through the development
of the PAK Rare Metals Project in Ontario, Canada . The Company's
strategy is to take advantage of the global shift towards
electric/hybrid vehicles and high quality consumer electronics by
becoming a raw material supplier of the elements required for the
pursuit of sustainable energy and other applications in high-tech
electronics and metal alloys. Combined, HLM’s Board of Directors and
Management have over 300 years of finance, exploration and mining
experience to help to facilitate the Company’s goal
HLM has a total of 90,807,595 common shares issued and outstanding. For additional information on HLM, please visit www.houstonlakemining.com
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
Henry Kloepper, CEO
T. +001 416.520.0187
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 http://www.sedar.com