Halo Announces Drilling Has Commenced at Sherridon Project, Manitoba
10 Février 2011 - 3:00PM
Marketwired
Halo Resources Ltd. (TSX VENTURE: HLO)(FRANKFURT: HRLN) ("Halo" or
the "Company") is pleased to announce that the Company has
commenced drilling at its' 200 square kilometer Sherridon VMS
Property in Manitoba. A contract has been awarded to Gateway
Drilling Ltd. for 1,500 meters of diamond drilling to be completed
in February.
The planned 8-hole program is in addition to the drilling
currently in progress by Hudson Bay Mining and Smelting Co.,
Limited ("HudBay"), an affiliate of HudBay Minerals Inc. (TSX: HBM;
NYSE:HBM), that is focused at the Cold-Lost property, a 1.1 square
kilometer area of Halo's in which HudBay can earn up to a to earn
up to a 67.5% joint venture interest.
"We look forward to learning more about the mineralized trend
between the Cold-Lost and Bob deposits," stated Lynda Bloom, Halo's
President& CEO. "Spread out along 4.5 kilometers of prospective
"Mine Horizon" geology, the geophysical targets are in areas with
little historical drilling and where we have the possibility of
locating new deposits at the Sherridon VMS Property."
Halo plans 8 drill holes to provide preliminary testing of three
new targets that include (see map:
http://media3.marketwire.com/docs/halo.pdf):
1. Second Lens at Bob: The Bob Deposit has been traced from
surface for over 1,000 meters down plunge. Historical assays, up to
3.3% Cu over 2.8m, indicate that a possible second lens projecting
to surface is located to the east. Halo discovered the preferred
orientation for drilling the Bob deposit in 2008 and will apply the
same approach, with similar success anticipated at Bob East.
2. Fidelity South/Jonah: The prospective horizon that hosts the
Cold-Lost mineralization wraps around the Sheila Lake Fold enroute
to the Bob Deposit. At Fidelity, historical intersections up to
2.6% Cu over 7 meters were reported and Halo had intersections up
to 2.4% Cu over 2.4 meters in 2008. The proposed targets are
located south of previous drilling and focus on plunging structural
features within a large alteration zone that stretches eastwards to
Bob. Maxwell modeling of geophysical anomalies and recently
developed geological interpretations were used to orient drill
holes.
3. Sherlett area: New ground Time Domain EM geophysical targets
located approximately 1 km along strike from and east of the Lost
deposit. This is an area with no historical drilling within the
same trend as the high grade Cold - Lost mineralization and is
parallel to nearby underground workings.
Halo remains committed to mineral resource investigation and
evaluation of its 200 square kilometer Sherridon VMS Property in
Manitoba. A program of target generation, definition and drilling
is planned for 2011.
The above information has been prepared under the supervision of
Lynda Bloom, 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, Chairman
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 2010 NI43-101 compliant copper-zinc resource, for
four of the known deposits in the district, is available at
www.sedar.com. The Company has a joint venture interest in the
Duport Property, an advanced gold property near Kenora, Ontario and
is the operator for Goldcorp joint venture properties in West Red
Lake covering 26 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.
Contacts: Halo Resources Ltd. Michael Joyner IR 416-619-7539
416-601-9046 (FAX) ir@halores.com www.halores.com First Canadian
Capital Corp. 416-742-5600 or Toll Free: 1-866-580-8891
Halo Resources Ltd. (TSXV:HLO)
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