Houston Lake Mining, Does it suck rocks?

http://biz.yahoo.com/iw/080501/0392508.html

"We are very pleased with the near surface drill results from Dubenski, which surpassed our expectations," said E. Grayme Anthony, President and Chief Executive Officer. "We are awaiting the results of the deep probing geophysical surveys which are aimed at generating new drill targets at depth below the Shaft Zone. We have just scratched the surface at Dubenski and believe there is great potential to add to the company's overall ounces at the West Cedartree project."

Table 1. Core Length Intercepts for Section 1 Drill Holes, Dubenski Shaft Zone


Drill Hole From To Intercept Gold Intercept Gold
Number (m) (m) (m) (g/mt) (ft) (oz/st)

DB-08-04 8.10 19.00 10.90 5.01 35.75 0.146
(-45 degrees) Incl. 15.00 19.00 4.00 12.68 13.12 0.370

DB-08-03 24.00 49.00 25.00 3.70 82.00 0.108
(-45 degrees) Incl. 30.00 34.00 4.00 17.59 13.12 0.513

DB-08-02 54.00 84.00 30.00 2.03 98.40 0.059
(-45 degrees) Incl. 55.00 58.00 3.00 6.06 9.84 0.177

DB-08-01 82.00 105.00 23.00 4.66 75.44 0.136
(-45 degrees) Incl. 82.00 91.00 9.00 9.97 29.52 0.291

All assay results have now been received from the 17 hole, 1,798.6 metre (5,899.4 foot) delineation drill program, which was completed in March. The program aimed to upgrade to modern standards a portion of the Dubenski Shaft Zone historic resource of 355,286 tonnes grading 6.32 g/mt gold (322,310 tons averaging 0.184 oz/st gold).

Table 2. Core Length Intercepts for Section 2 Drill Holes, Dubenski Shaft Zone


Drill Hole From To Intercept Gold Intercept Gold
Number (m) (m) (m) (g/mt) (ft) (oz/st)

DB-08-10A 20.00 38.00 18.00 3.46 59.04 0.102
(-45 degrees) Incl. 26.00 30.00 4.00 13.62 13.12 0.397

DB-08-09 41.00 68.00 27.00 12.95 88.56 0.378
(-45 degrees) Incl. 50.00 58.00 8.00 40.99 26.24 1.196

DB-08-08 66.90 93.40 26.50 3.04 86.92 0.089
(-45 degrees) Incl. 75.00 87.00 12.00 6.02 39.36 0.176

DB-08-07 102.00 135.00 33.00 12.11 108.24 0.353
(-45 degrees) Incl. 115.00 124.00 9.00 40.70 29.52 1.187

Thanks for your input.

David

http://www.houstonlakemining.com/images/HLM_FactSheet_2008_v29_screen.pdf

I liked the sample at Angel Hill, some 470 grams/ tonne.

Some basic stats:

Exchange: TSX.V
Trading Symbol: HLM
Shares Issued: 27.4 million
Market Capitalization: $12.3 million
52-Week Price Range: $1.15-$0.41
* As at December 31, 2007
Current Assets: $1,585,559
Current Liabilities: $185,252
Working Capital: $1,400,307

http://www.houstonlakemining.com/index.php?option=com_content&task=view&id=150&Itemid=97

The Dubenski project had one drill come up with 114 grams Au for a one meter intercept. There have been two digit gram samples per tonne. Maybe I should watch it for a bit.