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

To: JUNIORSPECULATOR who wrote (344)	10/4/2000 10:08:25 AM
From: Dan P	Read Replies (1) \| Respond to 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.

To: JUNIORSPECULATOR who wrote (344)	10/10/2000 11:39:33 PM
From: Dan P	Read Replies (1) \| Respond to of 364

News Release: Houston Lake receives Tib Lake drilling results Houston Lake Mining Inc HLM Shares issued 12,797,432 Oct 6 close $1.26 Tue 10 Oct 2000 News Release Mr. E. Grayme Anthony reports Houston Lake Mining has received drilling results from its 1,632-hectare (4,030-acre) Tib Lake palladium property which is located in the Lac des Iles area of Northwestern Ontario. The property is located just nine miles northwest of the Lac des Iles mine of North American Palladium Ltd. (NAPL) where a $126-million (U.S.) expansion of the mine is under way. Three drill holes of the seven drill hole diamond drilling program have been now completed. Drill hole TL-00-16 intersected the Kuhner zone and encountered 22 metres (72.2 feet) of core length grading 1.453 grams per tonne platinum group elements (PGEs) (0.042 ounce per ton PGEs), 0.17 per cent nickel and 0.15 per cent copper. This intercept extends the PGE mineralization at the Kuhner occurrence an additional 35 metres (113 feet) from a depth of 30 metres (100 feet) to a depth of 65 metres (213 feet). Drilling has recommenced as of Friday, Oct. 6, 2000, on the remaining four drill holes of the exploration program. 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 diamond drilling program comprises seven diamond drill holes totalling in excess of 1,000 metres (3,280 feet). The program has a twofold purpose: to verify palladium-platinum-gold mineralization in the vicinity of the Kuhner occurrence (TL-00-15 and TL-00-16) while the other five drill holes test a variety of geological/geophysical environments in a broad area of sulphidized heterogenous gabbro/gabbro breccia that extend 2.5 kilometres (1.5 miles) westward from near the Kuhner occurrence to the Jewelweed occurrence. A total of 505 metres (1,656 feet) of the program has now been completed in the three drill holes. The program has recommenced last Friday after a one-week hiatus which allowed modification of the drilling program with information from a geophysical reinterpretation (IP, magnetics and VLF-EM) of existing data and the continuing detailed geological mapping program. Drill hole TL-00-18 was started on Friday and is at 185 metres (606.8 feet) as of last night. Drill hole TL-00-16 targeted the downward extension of the Kuhner palladium occurrence at line 66+00E, 12+00N where surface sampling encountered several one-metre channel samples of over two g/t palladium. A 1995 drill hole, TL-95-09, intersected economically significant results of intersected a core length of 18.47 metres of 1.68 g/t PGEs (palladium, platinum and gold) at a depth of 30.5 metres (60.6 feet of 0.05 ounce per ton PGEs) under the Kuhner occurrence. Drill hole TL-98-14 encountered 10.47 metres grading 0.319 g/t PGEs (34.3 feet of 0.01 ounce per ton PGEs) in the vicinity of the intercept of TL-95-09. Drill hole TL-00-16 intersected the Kuhner zone at an average depth of 65 metres (213 feet) and encountered 22 metres (72.2 feet) of core length grading 1.453 g/t PGEs (0.042 ounce per ton PGEs), 0.17 per cent nickel and 0.15 per cent copper in a vertically dipping and sulphidized gabbronorite host. The average ratio of palladium to platinum to gold is 6.4:2.4:1.2. The Kuhner zone appears to be widening with depth and is open along strike. Results compare favourably with the Roby zone open pit of NAPL's Lac des Iles mine where reserves are 74.2 million tonnes grading 1.64 grams palladium, 0.18 gram platinum and 0.14 gram gold per tonne plus 0.07 per cent copper and 0.06 per cent nickel, based on a cutoff grade of 0.92 gram palladium equivalent. Sample Drill Sample Sample Inter- Hole Interval Interval section No. (metres) (metres) (feet) TL-00-16 65.0-87.0 22.0 72.2 Incl. 15.0 49.2 Incl. 5.0 16.4 TL-00-15 11.0 36.1 Incl. 4.0 13.1 Drill Combined Combined Hole PGEs PGEs Ni Cu No. (g/t) (oz/t) (%) (%) TL-00-16 1.453 0.042 0.17 0.15 Incl. 1.739 0.051 0.18 0.17 Incl. 2.072 0.060 0.19 0.16 TL-00-15 0.470 0.014 0.07 0.08 Incl. 0.734 0.021 0.08 0.08 Drill hole TL-00-15 was drilled just to the north of the Kuhner occurrence to test a new geophysical target and to add stratigraphic information. TL-00-15 intersected 11.0 metres grading 0.470 g/t PGEs (36.1 feet of 0.01 ounce per ton PGEs) hosted in a sulphidized gabbronorite and gabbro host. The third drill hole, 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 and did not return significant assays. All PGE assays used the fire assay method while nickel, copper and cobalt were analyzed with the ICP method by Chemex Labs of Mississauga, Ont. The project is under the supervision of independent consulting geologist, Ken Germundsen, PhD. Additional assays from drilling, detailed mapping and prospecting are expected over the next several weeks. Houston Lake is actively exploring for rare metals, platinum group metals and gold in Northwestern Ontario. Houston Lake Mining Inc. has a total of 12,797,432 common shares issued and outstanding.