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11.12.2009
Halo Announces Up to 5.6% Copper and 204 g/t Silver from Bridget Lake Gold Zone
Halo Announces Up to 5.6% Copper and 204 g/t Silver from Bridget Lake Gold Zone
Toronto, Ontario, December 10, 2009 -- Halo Resources Ltd. (TSXV: HLO) (“Halo”, the “Company”) is pleased to announce results from channel sampling at the Middle Bay Project, Red Lake on claims optioned from Red Lake Gold Mines Partnership (the “Partnership”), a partnership between Goldcorp Canada Ltd. and Goldcorp Inc. (TSX:G; NYSE: GG) (“Goldcorp”).
During the summer 2009 field season, Halo Resources expanded the 2008 channel sampling on a stripped area on the south shore of Middle Bay, Red Lake (see press release April 1 , 2009). Along with channel samples obtained in 2008, this has allowed for the delineation of a sulfide horizon exposed at surface over a length of 100 m, and up-to 2.5 m wide. Individual channel samples, that are 50 cm wide on average, report up 20 g/tonne gold, 5.6 % copper, and 204 g/t silver. The host sulfides are dominantly disseminated to semi-massive pyrrhotite and pyrite, and sometimes disseminated chalcopyrite,
The horizon is open at depth and eastwards, with the current structural model suggesting continued mineralization along strike. A shallow IP conductivity anomaly is coincident with the sulfide horizon at the stripped area and extends 400 m to the east. Additional evidence for the expansion of the gold-copper-silver zone includes grab samples from up to 200 m east along strike of the stripped area that assayed up to 10.85 g/tonne gold and 8.31 g/tonne silver. Both the grab samples and geophysical data demonstrate the potential for the mineralized zone observed in the stripped area to have a much larger extent.
“We have been impressed with the continuity of the Bridget Lake gold zone and also the strong associated copper and silver mineralization. The Middle Bay gold- copper-silver zone is a high priority target for Halo, as it is also in close proximity to the previously reported high-grade quartz veins on the Tribute Minerals Inc. claims, 500 m to the south” say Lynda Bloom, President & CEO. “The Company plans to complete drilling at the Sherridon VMS Property, Manitoba and commence drilling at Red Lake in March.”
Technical Highlights
Fifty channel samples with grades over 1 g/t have been collected over a strike length of 75 m in the vicinity of the Middle Bay discovery and are associated with a mafic volcanic contact. The mineralized samples have an average grade of 3 g/t gold and are also anomalous in silver and copper. The anomalous samples range in value from 2 to 302 g/t silver and average 50 g/t silver, as well as being elevated in copper, with samples ranging between low grade to 5.06% copper and averaging 0.75% copper.
Channel samples were collected and assayed as described in the December 8, 2009 press release. The above information has been prepared under the supervision of Lynda Bloom, President & CEO, P.Geo.who is designated as a "Qualified Person" with the ability and authority to verify the authenticity and validity of the data.
ON BEHALF OF THE BOARD OF DIRECTORS
“Marc Cernovitch”
Marc Cernovitch
Chairman
For further information, please contact:
Marc Cernovitch
Halo Resources Ltd.
Telephone: 416-619-7539
Fax: 416-601-9046
Email: info@halores.com
About Halo Resources Ltd.
Halo is a Canadian-based resource company focused on the acquisition of near production base and precious base metal deposits. The Company’s focus is the 200 sq. km. Sherridon VMS Property, a combination of mature and grassroots volcanogenic massive sulphide (VMS) copper, zinc and gold exploration opportunities. A 2008 NI43-101 compliant copper-zinc resource, for four of the known deposits in the district, was completed in less than 18 months. The Company has a joint venture interest in the Duport Property, an advanced gold property near Kenora, Ontario and is the operator for several contiguous joint venture properties in West Red Lake covering 45 sq. km. The Company is operated by an experienced management team with a growth strategy to develop a diversified portfolio of advanced mining projects.
Forward Looking Statements
This Company Press Release may contain certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
Neither 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.
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Toronto, Ontario, December 10, 2009 -- Halo Resources Ltd. (TSXV: HLO) (“Halo”, the “Company”) is pleased to announce results from channel sampling at the Middle Bay Project, Red Lake on claims optioned from Red Lake Gold Mines Partnership (the “Partnership”), a partnership between Goldcorp Canada Ltd. and Goldcorp Inc. (TSX:G; NYSE: GG) (“Goldcorp”).
During the summer 2009 field season, Halo Resources expanded the 2008 channel sampling on a stripped area on the south shore of Middle Bay, Red Lake (see press release April 1 , 2009). Along with channel samples obtained in 2008, this has allowed for the delineation of a sulfide horizon exposed at surface over a length of 100 m, and up-to 2.5 m wide. Individual channel samples, that are 50 cm wide on average, report up 20 g/tonne gold, 5.6 % copper, and 204 g/t silver. The host sulfides are dominantly disseminated to semi-massive pyrrhotite and pyrite, and sometimes disseminated chalcopyrite,
The horizon is open at depth and eastwards, with the current structural model suggesting continued mineralization along strike. A shallow IP conductivity anomaly is coincident with the sulfide horizon at the stripped area and extends 400 m to the east. Additional evidence for the expansion of the gold-copper-silver zone includes grab samples from up to 200 m east along strike of the stripped area that assayed up to 10.85 g/tonne gold and 8.31 g/tonne silver. Both the grab samples and geophysical data demonstrate the potential for the mineralized zone observed in the stripped area to have a much larger extent.
“We have been impressed with the continuity of the Bridget Lake gold zone and also the strong associated copper and silver mineralization. The Middle Bay gold- copper-silver zone is a high priority target for Halo, as it is also in close proximity to the previously reported high-grade quartz veins on the Tribute Minerals Inc. claims, 500 m to the south” say Lynda Bloom, President & CEO. “The Company plans to complete drilling at the Sherridon VMS Property, Manitoba and commence drilling at Red Lake in March.”
Technical Highlights
Fifty channel samples with grades over 1 g/t have been collected over a strike length of 75 m in the vicinity of the Middle Bay discovery and are associated with a mafic volcanic contact. The mineralized samples have an average grade of 3 g/t gold and are also anomalous in silver and copper. The anomalous samples range in value from 2 to 302 g/t silver and average 50 g/t silver, as well as being elevated in copper, with samples ranging between low grade to 5.06% copper and averaging 0.75% copper.
Channel samples were collected and assayed as described in the December 8, 2009 press release. The above information has been prepared under the supervision of Lynda Bloom, President & CEO, P.Geo.who is designated as a "Qualified Person" with the ability and authority to verify the authenticity and validity of the data.
ON BEHALF OF THE BOARD OF DIRECTORS
“Marc Cernovitch”
Marc Cernovitch
Chairman
For further information, please contact:
Marc Cernovitch
Halo Resources Ltd.
Telephone: 416-619-7539
Fax: 416-601-9046
Email: info@halores.com
About Halo Resources Ltd.
Halo is a Canadian-based resource company focused on the acquisition of near production base and precious base metal deposits. The Company’s focus is the 200 sq. km. Sherridon VMS Property, a combination of mature and grassroots volcanogenic massive sulphide (VMS) copper, zinc and gold exploration opportunities. A 2008 NI43-101 compliant copper-zinc resource, for four of the known deposits in the district, was completed in less than 18 months. The Company has a joint venture interest in the Duport Property, an advanced gold property near Kenora, Ontario and is the operator for several contiguous joint venture properties in West Red Lake covering 45 sq. km. The Company is operated by an experienced management team with a growth strategy to develop a diversified portfolio of advanced mining projects.
Forward Looking Statements
This Company Press Release may contain certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
Neither 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.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA40637D1087">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA40637D1087</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.