Hlm Identifies 28 Metres Of 4.41% Li2O At Surface Across Its High Grade Lithium Zone At The Pak Lithium Project
Sudbury, Ontario – January 12, 2016- Houston Lake Mining Inc. (TSX.V: HLM). HLM is pleased to announce the results the 2015 stripping and in-fill channel sampling of the Upper Intermediate Zone (UIZ) on the Pakeagama Lake pegmatite. The program was completed in September along strike to the north-west of the 300 tonne bulk sample site (see March 23, 2015 news release) to better define the geometry and grade at surface. The objective of the channel sampling was to increase the confidence level of the high-grade lithium zone’s surficial exposure and to incorporate this data in the Resource Estimate update as announced Thursday, December 17th, 2015.
The assay and Channel data for the 8 channels reported are presented in Tables I and II, respectively.The intersection summaries are outlined in Table I below including the lithium, cesium, tantalum and rubidium grades for the channels by mineralogical zones for the pegmatite.
Table I – Channel Sample Intercepts (Pakeagama Lake pegmatite)
Channels 23, 24 and 25 are slightly off-set from each other and represent a continuous section across the UIZ. Channels 26, 27, 28 and 29 are also off-set and represent a continuous sequence of UIZ and LIZ combined.
n/a = Not applicable
The UIZ represents a high grade lithium zone within the pegmatite and is dominated by “SQUI”, a term used to describe an oriented spodumene + quartz intergrowth after primary petalite, with lesser grey K-feldspar and primary white spodumene in quartz. Phosphate minerals and lithian mica are the common accessory minerals. Channels 23, 24 and 25 with a composite grade of 4.41% Li2O represent a 28 metre section across the UIZ in the north-western part of the exposed pegmatite. Channel 22 is located approximately 105 metres northwest along strike from Channel 9 which was cut in 2013.
“We are extremely pleased with these results from the stripping and channel sampling program as they prove consistently high lithium grades throughout the UIZ at surface and will be beneficial to the Resource Estimate update anticipated to be completed this month”, commented Trevor R. Walker, President of HLM. “The stripping has uncovered additional high-grade zone which is quite wide, ranging from six to twenty-eight metres for a total strike length of approximately 115 metres and is consistent with drilled intersections in holes PL-13-003 and PL-011-14 below”.
Table II– Channel Locations
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, channels are cut with a motorized circular diamond saw, and are 4 cm wide and 10 cm deep. The channels are oriented perpendicular to the strike of the pegmatite internal mineralogical zones and are cut continuously across the zones. The samples are removed using a hammer and chisel. The length of a channel is determined by the width of the pegmatite zone. Offset channels are cut where deemed appropriate. Sample lengths typically are 1 metre but can be less depending on zone mineralogy and boundaries. Samples are described, placed into a poly sample bag with a numbered sample tag and then shipped to the assay lab for quantitative analysis for select elements.
All samples were assayed by AGAT Laboratories Ltd. (“AGAT”), an ISO accredited laboratory in Rosslyn, Ontario. 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.
Extension of Warrants and Options
The Company announces that effective January 8, 2016 the expiry date of 1,075,000 Warrants and 150,000 Options issues on January 8, 2014 and held by an insider will be extended from January 8, 2016 to May 8, 2016 (the “Amendment”), subject to regulatory approval. The exercise price of the warrants and options remains unchanged at $.11.