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Gold/Mining/Energy : Houston Lake Mining [HLM-ASE] -- Ignore unavailable to you. Want to Upgrade?

To: DRT who wrote (326)	5/31/2000 8:55:00 PM
From: WWS	Respond to of 364

Thanks, DRT, would you please refresh our memories again as to the g/t of Tantalum that was reported for the original assays? The current g/t figure certainly seems to be close enough to that achieved in the Australian mine, so we now need to learn whether or not there is enough of a deposit to make it economically viable to mine.

To: DRT who wrote (326)	6/7/2000 12:38:00 AM
From: Jason Marcotte	Respond to of 364

DRT- Are you following the Darnley Bay story at all?? An overview: The mystery of Darnley Bay Doug Ashbury Northern News Services Paulatuk (Nov 29/99) - Why do Leon La Prairie and Hank Vuori care so deeply about what kind of rock lies under the ground near Paulatuk "For me, it's just because I want to find out what the heck is causing the graviity anomaly," Vuori said. "I've got a lot of patience. I've been waiting 40 years to find out and it looks like I'll be waiting at least one more," he said. "It's a good challenge. It's a mystery," La Prairie said. La Prairie is president of Darnley Bay Resources, the Vancouver Stock Exchange-listed company looking to develop the Darnley Bay anomaly, located in the Inuvialuit settlement area.He has 40 years of exploration experience in Nunavut and the NWT. In 1955, Vuori, who today acts as an advisor to Darnley Bay, was the first to notice the "kink" on a magnetic survey map of the Paulatuk area. He discovered the anomaly. The two prospectors were among 450 delegates at the annual Geoscience Forum in Yellowknife last week. They spoke not only of Darnley Bay but also of their geological work across the Arctic showing slides taken in the 1950s.As for just what is causing the largest magnetic anomaly in North America, Darnley Bay Resources may have a better picture next year. It could be a nickel deposit similar to the Sudbury nickel basin, which supports several resource-based activities, not just one mine. The Darnley Bay anomaly is larger than the Sudbury basin which is 10 times bigger than Voisey Bay. Whatever it is, it's something big and heavy. The anomaly is also much closer to the surface than the Sudbury nickel basin. In 2000, Darnley Bay Resources is planning a $12- million drilling program. Falconbridge and another major mining company are interested in funding the two-year drill program. As for the evolution of the project, Darnley Bay has not yet reached pre-feasibility. As well as a possible massive nickel deposit, Darnley Bay may also contain copper and platinum group elements. The company has also sent till samples away for diamond study. One good drill hole will go a long way to determining the future of the project. And if it turns out the way La Prairie and Vuori think it will, lookout Yellowknife, says La Prairie. "They may just have to move the capital to Paulatuk."

To: DRT who wrote (326)	9/7/2000 9:06:00 AM
From: Dan P	Read Replies (1) \| Respond to of 364

NEWS RELEASE: Company is starting their drill program. Regards Dan Houston Lake Mining Inc - News Release Houston to commence drilling at Tib Lake Houston Lake Mining Inc HLMShares issued 12,228,2662000-09-01 close $0.47Tuesday Sep 5 2000News ReleaseMr. E. Grayme Anthony reports Houston Lake Mining has selected a drilling company from a number of tenders received and a drill is expected to be on the Tib Lake palladium property by early next week. Geological consultants will mobilize in advance of the drill. The $110,000 first closing will yield sufficient moneys to enable the completion of the 1,000-metre (3,280-foot) diamond drilling program and allow the as yet unexplored eastern third of the 1,632 hectare (4,030 acre) property to be prospected. 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. Houston Lake has received conditional approval from the Canadian Venture Exchange for the $150,000 proposed financing announced on July 20, 2000. The company will issue 275,000 units priced at 40 cents in the first closing which was announced on Aug. 16, 2000. Each unit consists of one flow-through common share and one-half of a purchase warrant. One full warrant can be exercised at 50 cents for a period of eight months. The private placement has a four-month hold period subject to Alberta and Ontario resale restrictions of 12 months and 18 months respectively. The Tib Lake property was recently visited to verify targets generated in previous geological mapping, magnetic and IP (induced polarization) geophysical surveys, and stripping programs. Independent consulting geologist, Ken Germundson, PhD, and company president, E. Grayme Anthony, PGeo, FGAC, identified an extensive area containing heterogenous gabbro and gabbro breccia extending about 2.5 kilometres (1.5 miles) from the Jewelweed palladium occurrence to the Kuhner palladium occurrence. This zone may reach over 500 metres (1,640 feet) at its widest extent and is similar to that noted at the Roby zone of the nearby Lac des Iles mine of North American palladium Ltd. Sulphide liquation, magma mixing and volatile flushing are important ore-forming processes identified in platinum-palladium mines elsewhere in the world. These processes have been identified within this heterogenous gabbro/gabbro breccia rock unit, attesting to the potential of the Tib Lake property. The diamond drilling program will consist of six drill holes and total approximately 1,000 metres (3,280 feet). The program will target similar geophysical responses to that registered within the heterogenous gabbro/gabbrobreccia rock unit at the Kuhner occurrence, the site of the 1995 drill hole, TL95-09, which intersected a core length of 18.47 metres grading 1.68 grams per tonne (g/t) PGE's (60.6 feet grading 0.05 ounces per ton PGE's). Prospecting will explore the vicinities of four other IP target areas announced on April 5, 2000. In addition, the property will receive prospecting coverage to confirm the extension of favourable rock units noted on Ontario Geological Survey maps to the east of the Kuhner occurrence. If confirmed, an additional two kilometres (1.2 miles) of strike length would be added to the existing 2.5-kilometre (1.5 mile) strike length of the heterogenous gabbro/gabbro breccia unit on the Tib Lake palladium property. Houston Lake has cancelled a proposed financing announced on May 3, 2000, involving the maximum issuance of 250,000 units at a price of $1.20 per unit for maximum gross proceeds of $300,000. Each unit consisted of one flow-through common share, one non-flow-through common share and a purchase warrant exercisable at 70 cents for a period of one year and 80 cents for the second year. The company has granted to directors and employees of the corporation incentive stock options in the amount of 250,000 common shares at an exercise price of 36 cents. This represents a 25-per-cent discount to the previous day's closing price of 47 cents and is subject to a one-year hold period.