2014-04-15 16:33:53 -
Sudbury, Ontario (FSCwire) - Houston Lake Mining Inc. (TSX.V: HLM), is a mining exploration company which is actively exploring for rare metals lithium, tantalum, rubidium and cesium by currently advancing its 100% owned and optioned PAK Rare Metals Project in northwestern Ontario, Canada. HLM is pleased to announce the appointment of Ernie Marcotte, P.Eng, FCIM to the board of directors of the “Company”.
Mr. Marcotte has over 40 years of experience in the mining industry involving metallurgical and mining operations, environmental control, mineral processing, research and development, design engineering, plant commissioning and corporate management. He has extensive experience in gold, uranium, nickel-copper and platinum-palladium operations. He has served in various senior management and engineering capacities which include Mill Superintendent, General
Mine Manager and Vice President. Over a forty year period, Mr. Marcotte has worked for a number of successful mining companies: Denison, East Malartic Gold, Upper Canada Gold, Falconbridge, Pamour, MacIsaac (INCO Shebandowan Operation) and North American Palladium. As Vice President Mining for North American Palladium and Vice President and General Manager Mining Operations for the Lac Des Iles Mine he was instrumental in the initial commissioning and progressive improvement of the mine and mill operations. Mr. Marcotte has served as Senior Metallurgist for SNC Lavalin, Engineers and Constructors. He served as Vice President of Operations for Mustang Minerals Corp where his primary focus was fast tracking the Preliminary Economic Assessment (PEA) and Pre-Feasibility Study and initiated the Bankable Feasibility for the Maskwa Ni-Cu-PGE Project in Manitoba.
Most recently, Mr. Marcotte served as Senior Process Engineer for Rubicon Minerals Corporation and was involved with design engineering and equipment selection for the construction of the Phoenix Project mineral processing plant. He has served on a number of Boards and Committees in the communities in which he has resided and has served on the Board of Directors for Mining Companies. Mr. Marcotte currently serves on the Board of Directors of Numax Resources who are currently advancing an iron-titanium property in North Western Ontario.
“We are very pleased to have Ernie join HLM. He brings great depth of mine development and metallurgical experience which complements HLM’s Board and Management”, commented Reginald (Rick) F. Walker, Chairman. “We look forward to working with Ernie as we continue to develop one of the highest grade lithium deposits in North America, with large tonnage potential, and with byproducts such as tantalum, and potentially rubidium and cesium on our PAK Rare Metals Project”.
The Company also announces that it has granted 2,050,000 stock options to officers and directors. The options are set for a period of five years, expiring on April 15, 2019. The options are priced at $.10 and are subject to regulatory approval.
About the PAK Rare Metals Project
The PAK Rare Metals Project lies close to the boundary between two geological sub-provinces in northwestern Ontario and hosts a rare metals pegmatite deposit. The deposit is a LCT (lithium, cesium, tantalum) classified pegmatite. These rare types of deposits have been the principal source of hard rock lithium, tantalum, rubidium and cesium ores mined in the world.
HLM is actively developing its 100% owned and optioned project which contains the Pakeagama Lake pegmatite. The deposit has a current NI-43.101 compliant Inferred Resource of 6.89million tonnes of 1.86% Li2O Eq. Within the deposit, the pegmatite uniquely hosts 1.17million tonnes grading 3.44% Li2O in a technical/ceramic grade spodumene lithium zone (UIZ) with low inherent iron content. The Pakeagama Lake pegmatite has a 265m strike length with an estimated width varying from 45 to 125m with a sub-vertical orientation of the pegmatite. The resource remains open to depth and along strike to the northwest and southeast.
About Houston Lake Mining Inc.
HLM’s goal is to become a fully integrated lithium and tantalum producer through the development of the PAK Rare Metals Project in Ontario, Canada . The Company's strategy is to take advantage of the global shift towards electric/hybrid vehicles and high quality consumer electronics by becoming a raw material supplier of the elements required for the pursuit of sustainable energy and other applications in high-tech electronics and metal alloys. Combined, HLM’s Board of Directors and Management have over 255 years of exploration and mining experience to help to facilitate the Company’s goal
HLM has a total of 80,215,695 common shares issued and outstanding. For additional information, please visit www.houstonlakemining.com.
Company Contact Information
Trevor R. Walker, President
2736 Belisle Drive
Val Caron, ON.
P3N 1B3 CANADA
T. +001 705.897.7622
F. +001 705.897.7618
Henry Kloepper, CEO
T. +001 416.520.0187
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company’s registered filings what are available at www.sedar.com
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Source: Houston Lake Mining Inc. (TSX Venture:HLM) www.houstonlakemining.com/
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