Halo Resources Announces Drill Programs
(firmenpresse) -
Halo Resources Announces Drill Programs
Toronto, Ontario, December 1, 2009 -- Halo Resources Ltd. (TSXV: HLO) (the “Company”) is pleased to announce plans for a drill program at the Sherridon Copper-Zinc property.
“The Company has recently raised over $2 million in financing, thanks to the strong support of the financial community. Halo has developed a number of high priority targets where drilling has key strategic benefits and the Company plans to commence drilling in December” says Lynda Bloom, President & CEO.
The first target to be tested will be an extension of the high-grade Lost Lake zone. Section 4900E, which currently defines the north end of the 500m-strike length of the known deposit, had intersections up to 1.3% copper and 7.8% zinc over 6.3 m. To date, this has been the highest grade and thickness on the Sherridon VMS Property (see press release March 18, 2008), complementing a series of consistent high-grade intersections throughout the Lost Lake zone. The Cold Lake zone has been defined over a similar strike length to the north, along the same trend, but there has been no previous drilling to test the 500m strike extension between the two zones.
Bedrock chip sampling located the surface expression of the Lost Lake deposit and expanded the potential strike of the deposit at least 250 m north of previously known drilling (see press release August 8, 2008). The anomalous bedrock chip samples included results up to 5.2% zinc and 0.4% copper. The potential to expand the deposit an additional 250 m, and demonstrate unequivocally that it extends to surface, is an important opportunity for the Company. Work permits are in hand and drilling will commence immediately.
Additional targets within the Sherridon VMS Property will be tested, including
•down-plunge targets on the Jungle Lake deposit based on reinterpretation of structural controls (see press release October 3, 2008 for NI43-101 resource estimate for Jungle and three other deposits in the Sherridon VMS Property)
•at Don Lake, located on the Cold-Lost trend, to follow up on airborne geophysical anomalies supported by strong alteration (sillimanite, sericite) reported both at surface and at depth in a 1998 HudBay drill hole, as well as disseminated magnetite and sulphides at surface
•Target Area 5 with strong bedrock chip copper-zinc-silver anomalies associated with both airborne VTEM and magnetic anomalies; and
•VTEM anomaly E16, with a strike length of 400m, coincident with a discrete airborne magnetic anomaly. Recent mapping identified a previously unrecognized variation in structural orientation, suggesting that a historical hole did not test the geophysical target; in addition, a reported alteration zone (typically associated with deposits in the Sherridon camp) was intersected at a depth of 50 m from surface.
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(at)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.
Leseranfragen:
HALO RESOURCES
Corporate Office:
25 Adelaide Street East, Suite 2100
Toronto, Ontario
Canada M5C 3A1.
Tel: 416-619-7539
Fax: 416-601-9046
info(at)halores.com
Datum: 02.12.2009 - 15:33 Uhr
Sprache: Deutsch
News-ID 8917
Anzahl Zeichen: 0
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 676 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Halo Resources Announces Drill Programs
"
steht unter der journalistisch-redaktionellen Verantwortung von
HALO RESOURCES (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
