HLM Commences Resource Estimate for the PAK Rare Metals Project in Ontario, Canada

HLM Commences Resource Estimate for the PAK Rare Metals Project in Ontario, Canada

SUDBURY, Ontario--(BUSINESS WIRE)-- Houston Lake Mining Inc. (TSX.V: HLM), is pleased to report that as a result of the drilling program on the PAK Rare Metals Project in 2013, the Company has commenced a National Instrument ("NI") 43-101 compliant Mineral Resource estimate with GENIVAR (TSX: GNV), a Montreal-based firm. GENIVAR is one of the largest engineering firms in Canada and has a mining division maintaining independent consulting geologists and engineers.

"We are pleased to be in a position to advance the PAK Rare Metals Project to this next stage with a reputable firm such as GENIVAR. We anticipate that the initial Mineral Resource Estimate should be completed by the end of November 2013. Further to an estimate of lithium, tantalum, rubidium and possibly cesium contained therein, this will serve as a base from which HLM can potentially expand the high grade resource to the northwest and southeast of the pegmatite deposit beyond the current limit of drilling," commented Trevor R. Walker, President of HLM.


About the PAK Rare Metals Project
The PAK Rare Metals Project lies between two geological sub-provinces in northwestern Ontario. The deposit is a LCT (lithium, cesium, tantalum) classified pegmatite. These type of deposits have been the principal source of hard rock lithium, tantalum, rubidium and cesium ores mined in the world.

6 diamond drill holes totalling 1,000 metres, were drilled by HLM on the Pakeagama pegmatite in 2013. Resulting from drilling, the Pakeagama pegmatite maintains a 250 metre strike length, an width varying from 45 to 125 metres with an assumed sub-vertical orientation of the pegmatite body. Highlights from diamond drilling include high grade lithium and tantalum up to 4.22% Li2O over 18 metres and 236 ppm Ta2O5 over 19 metres in two distinct pegmatite zones.

About Houston Lake Mining Inc.
HLM's goal is to become a fully integrated lithium and tantalum producer by targeting the growth as a result of the shift towards electric/hybrid vehicles and high quality consumer electronics through the development of the PAK Rare Metals Project in Ontario, Canada. HLM's Board of Directors and Management combined have over 255 years of exploration and mining experience in order to facilitate the Company's goal of 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.

HLM has a total of 76,665,695 common shares issued and outstanding. For additional information, 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



Houston Lake Mining Inc.
Trevor R. Walker, +001 705-897-7622
President
F. +001 705-897-7618
or
Henry Kloepper, +001 416-520-0187
CEO

KEYWORDS:   North America  Canada

INDUSTRY KEYWORDS:

The article HLM Commences Resource Estimate for the PAK Rare Metals Project in Ontario, Canada originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.