Exploring For Lithium
Today we are going to take a look at a junior miner who is exploring for rare earths in Ontario Cananda. Houston Lake Mining HLM Houston Lake is a specialized mining exploration company
actively engaged in the acquisition, exploration and development of hard rock, high grade, rare metal resource properties with focus on lithium and tantalum.
Lithium is used a lot today in batteries that power all the techno gadgets we use like laptops, tablets, phones and all that other good stuff todays consumers can't seem to live without. Lithium comes from brines and also hard rock pegmatites. Most lithium brines come from Chile and Argentina and some from China. Australia produces the most lithium form hard rocks. Tantalum's main use today is in tantalum capacitors in electronic equipment such as mobile phones, DVD players, video game systems and computers.
At present the company is exploring for lithium and tantalum on it's 100% owned PAK Rare Metals Project in Ontario. Total area ofthis property is about 3,584 hectares. HLM's PAK Rare Metals Project has a NI 43-101 Resource Estimate as of December 4, 2013. Houston Lakes properties hosts 6.89 million tonnes grading at 1.86% Li2O equivalent(eq.) in the inferred category and 1.17million tonnes grading 3.44% Li2O in technical/ceramic grade lithium.
The company issued a news release on Sept. 2 stating that a drill hole had intersected 1.68% Li2O over 104 metre (m) from 9.1m to 104.75 m. This included a 12.8 m wide high-grade lithium zone averaging 4.01% Li2O from 35 to 47.8 m. Assays are still pending from additional holes drilled this season.
Houston Lake has around 75 million shares O/S at present. The stock has seen a nice rally isince mid August from a 5 cent level average to it's postion today of around 15 cents. For those looking to invest outside of the base and precious metals side of the market, Houston Lake and it's rare earth play may be something to consider.
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