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Last C$0.19 CAD
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Volume 49.6K
HLM On Other Exchanges
As of 3:44 PM 05/25/15 All times are local (Market data is delayed by at least 15 minutes).

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houston lake mining inc (HLM) Details

Houston Lake Mining Inc., a mining exploration company, is engaged in the acquisition, exploration, and development of mining properties Canada. The company explores for rare metal deposits, such as lithium, tantalum, rubidium, and cesium, as well as gold and platinum group metal deposits. It focuses on its 100% owned Pakeagama Rare Metals Project that is located in Red Lake, northwestern Ontario, Canada. Houston Lake Mining Inc. was founded in 1995 and is headquartered in Val Caron, Canada.

Founded in 1995

houston lake mining inc (HLM) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: --
Total Annual Compensation: C$110.0K
Compensation as of Fiscal Year 2014.

houston lake mining inc (HLM) Key Developments

Houston Lake Mining Inc. Announces Bulk Sampling Program on the Pak Lithium Project

HLM has commenced thee next phase of determining the potential for r commercializing the PAK deposit by bulk sampling the lithium zone of the pegmatite. The preparation of the 3000t (approx.) bulk sample will be completed by the end of March 2015. The objectives are to evaluate production of spodumene-bearing product as a precursor to potential commercial scale spodumene concentrate production, to test the suitability of the product for direct use as a replacement for lithium mineral concentrates, test blasting parameters and mining logistics with existing haulage infrastructure. The scope of a future Pre-feasibility Study will be shaped by the results of this phase of testing. The characteristics of thee high grade spodumene-bearing product comprising the Upper Intermediate Zone indicate there is potential for near term extraction of product from thee zone that is suitable for use in traditional technical applications for spodumene concentrates (such as production of ceramics, frit, glass and glass ceramic). Production of this crushed and ground product without up-grading by flotation or gravity separation could provide HLM with a source of useful revenue at low capital cost during the preparation of the Pre-feasibility and Feasibility Studies for thee construction of a concentrator facility. The sample has been collected by surface trenching of an area in the UIZ where there is discontinuous, limited overburden (<.5m) cover. The sample has been shipped from the property, and sample processing and transportation is expected to commence in the next few weeks.

Houston Lake Mining Inc. Commences Diamond Drilling on the PAK Rare Metals Project in the Red Lake Area of Ontario

Houston Lake Mining Inc. announced that the commencement of diamond drilling on the PAK Rare Metals Project, located in the Red Lake area of Ontario. The phase III diamond drill program is a follow-up to the Canadian National Instrument (N.I.) 43-1101 mineral resource estimate news release that was disseminated January 28, 2015. The Phase III Drill Program is designed to infill the current resource on the property. The current drill program will consist of approximately 1,500m in six holes targeting the Pakeagama Lake pegmatite. The objective of the program is to upgrade the indicated mineral resource of the 2.45 million tons grading at 1.81% Li2O equivalent (eq.), to a measured category, and to possibly upgrade the inferred mineral resource of 5.91 million tons grading at 2.01% Li2O eq. to a Measured and Indicated category. The drilling will be completed before the end of this winter and results will be reported as they are received and interpreted.

Houston Lake Mining Inc Announces Upgraded NI 43-101 Resource Estimate for the Pak Rare Metals Project in Ontario, Canada

Houston Lake Mining Inc. reported a Canadian National Instrument (N.I.) 43-101 mineral resource estimate for the PAK Rare Metals Project, located in northwestern, Ontario. The resource estimation has been prepared by WSP Canada Inc. Highlights: Indicated mineral resource of 2.45 million tonnes grading at 1.81% Li2O equivalent(eq.), including 1.78 million tonnes grading 2.40% Li2O eq. in technical grade lithium zones with a low inherent iron spodumene; Inferred mineral resource of 5.91 million tonnes grading at 2.01% Li2O equivalent(eq.), including 5.57 million tonnes grading 2.11% Li2O eq. in technical grade lithium zones with a low inherent iron spodumene; an increase of 27% in total indicated and inferred Li20 eq. contained tonnes from the 2014 Maiden Inferred Resource Estimate; The Pakeagama Lake pegmatite has a 400m strike length with an estimated true width varying from 10 to 125m with a sub- vertical orientation of the pegmatite, and; Resource remains open to depth and along strike to the northwest and southeast. The original size of the Tanco pegmatite was 57,427,342 tonnes with a maximum thickness of 100m. The UIZ, CIZ and LIZ units at the Pakeagama Lake Pegmatite have striking similarities in mineralogy and chemical composition to those at the Tanco deposit. The bulk chemical composition for Li2O and Ta2O5 was 0.74% and 366ppm, respectively at Tanco. The Tanco Mine is located in southeastern Manitoba and was a lithium mineral concentrate producer from 1986 until operations were suspended in 2009. Tanco was also a tantalum mineral concentrate producer until March 2013 when operation of this circuit ceased. Li2O equivalent was determined based on lithium and tantalum grades, prices ($330.56 per tonne of 6% spodumene concentrate and $198.51 per kg of 30% tantalite concentrate) and their respective recovery ratio (50% recovery for tantalum and at 78.5% recovery for lithium from bulk pegmatite). Li2O content in the CIZ is predominantly associated with lithian micas and without metallurgical testing not deemed recoverable, therefore, not included in the Li2O contained and subsequently the Li2O equivalent calculation for the purpose of this report. The UIZ and LIZ are technical/ceramic-grade lithium zones (high-grade lithium with low inherent iron) (<0.1% Fe2O3 from whole rock analysis). The iron content of spodumene contained within the LIZ increases as the contact with iron-rich metasedimentary country rocks are approached, but it has been noted that a concentration below 0.1% wt.% Fe2O3 is maintained to within about 10 meters of the pegmatite-metasediment contact. Without further metallurgical testing it is unknown if the Rb2O is recoverable from the Lithium zones (UIZ, LIZ).


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