SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Houston Lake Mining [HLM-ASE]
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: JUNIORSPECULATOR who wrote (344)10/4/2000 10:08:25 AM
From: Dan P  Read Replies (1) of 364
 
Nice move yesterday: News release:

Houston Lake receives Tib Lake results

Houston Lake Mining Inc HLM
Shares issued 12,762,432 Oct 2 close $0.75
Tue 3 Oct 2000 News Release
Mr. E. Grayme Anthony reports
Houston Lake Mining has updated the exploration status on the company's
1,632-hectare (4,030-acre) Tib Lake palladium property which is located in
the Lac Des Iles area of Northwestern Ontario. Three drill holes have been
now completed and a total of 162 drill core samples has been shipped.
Houston Lake has earned a 100-per-cent interest in the property subject to
a 2.5-per-cent net smelter royalty with a buyback of 1 per cent for
$1-million. The company's switchboard has been flooded with telephone calls
and Houston Lake apologizes for being unable to keep up with the volume.
The current program of seven diamond drill holes has been temporarily put
on hold after the completion of three drill holes. Drill holes TL-00-15 and
TL-00-16 targeted the vicinity of the Kuhner palladium occurrence where a
1995 drill hole, TL-95-09, intersected economically significant results at
shallow depths. The third drill hole of the current program, TL-00-17,
tested the broad zone of heterogenous gabbro/gabbro breccia rocks that
extend 2.5 kilometres (1.5 miles) between the Kuhner palladium occurrence
and the Jewelweed palladium occurrence. A total of 162 drill core samples
has now been shipped under rush status to Chemex Labs of Mississauga, Ont.
Houston Lake will take this opportunity to evaluate the effectiveness of
the first three drill holes and to integrate recommendations from a
recently received geophysical interpretation report, and also to
incorporate new information from the continuing detailed geological mapping
survey into the current drilling program. Drilling is expected to
recommence later this week.
Houston Lake has engaged the services of Walter Peradery, PhD, to supervise
the detailed mapping survey that began late last week. Dr. Peradery brings
to the project extensive nickel-copper-PGM exploration expertise gained
from his experience with Inco Ltd. The detailed mapping program will focus
on the zone of heterogenous gabbro/gabbro breccia rocks which are located
in the southern portions of the property between the Kuhner and Jewelweed
occurrences. This zone coincides with a broad IP anomaly which is
interpreted to be due to a mainly sulphide response.
The mapping program has already identified a new zone of gabbro breccia
which extends for over 200 metres open along strike in both directions and
that may extend to include the Road palladium occurrence on the Tib Lake
property. This zone consists of norite fragments enclosed within a
sulphide-bearing pyroxenite matrix. A similarly described sulphide-bearing
gabbro breccia rock type is a favourable host for palladium mineralization
at the Lac Des Iles mine of North American Palladium Ltd.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News