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Jun 05, 2008 04:30 ET
Halo Expands Jungle Lake Open Pit

TORONTO, ONTARIO--(Marketwire - June 5, 2008) - Lynda Bloom, President and CEO of Halo Resources Ltd. (the "Company") (TSX VENTURE:HLO)(FRANKFURT:HRL) is pleased to announce that drilling west of the Jungle Lake deposit has expanded the near surface strike length approximately 15%.

A short drill program tested areas north and west of the known resources where the mineralization is projected to come to surface. Four of the drill holes intersected semi-massive to massive sulphides with similar copper grades as the Indicated resource category but with zinc grades triple what is estimated for the rest of the deposit.

To view the map accompanying this press release please click on the following link: http://media3.marketwire.com/docs/hlo0605.pdf.

"The additional holes at Jungle Lake extend the strike length of the massive sulphide zone by about 25% and demonstrate that the mineralization extends to within 41m of surface. The significant increase in zinc grades adds to the economic potential of the Jungle Lake deposit, which when taken in conjunction with positive results at the nearby Cold, Lost and Bob Lake deposits at the Sherridon VMS Property, impacts the potential of the entire district that we are exploring," says Lynda Bloom.

Halo filed a NI43-101 compliant resource estimate report for Jungle Lake (see press release January 8, 2008) that confirmed 1,325,000 tonnes in the Indicated resource category with an overall grade of 1.17% copper, 0.85% zinc and precious metal credits. In addition, there are 2,177,000 tonnes in the Inferred resource category with an overall grade of 1.10% copper, 0.67% zinc and precious metal credits.

A NI43-101 compliant report is in preparation to report on resource estimates for the Cold, Lost and Bob Lake deposits.

Webcast

Halo will be hosting a webcast immediately following this announcement to provide additional background information on the Sherridon Project. To view the webcast please follow this link www.investorcalendar.com/IC/CEPage.asp?ID=130699 or visit the Halo website at www.halores.com.

Technical Highlights

Seven vertical diamond drill holes, for a total of 1,098m, were completed. Mineralized intervals are summarized in the following table and the accompanying map shows the location of 2008 phase of drilling to the west. The massive-sulphide intervals in holes DH08-103, DH08-105 and DH08-110 expand the potential open pit limits approximately 50m west. Hole DH08-113, to the north, improves confidence in the western extent of the resource model and continuity of the mineralized zone.




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Interval Copper Zinc Silver
Hole From (m) To (m) (m)(i) (%) (%) (g/t)
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DH08-103 71.45 75.42 3.97 0.89 2.25 5.7
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DH08-105 40.70 46.11 5.41 0.60 2.22 5.2
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DH08-110 113.04 118.19 5.15 0.64 2.10 5.9
--------------------------------------------------------------
DH08-113 174.20 177.47 3.27 0.35 0.99 6.2
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(i) True width estimated as 85% of the interval.





Sampling, assaying and quality control procedures are consistent with those reported in the Technical Background of the press release issued February 15, 2007. The above information has been prepared under the supervision of Stephen MacConnell, 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

Lynda Bloom, President and CEO
 
aus der Diskussion: HALO RESOURCES LTD (GOLD / KUPFER / ZINK) Info Thread
Autor (Datum des Eintrages): umistra  (05.06.08 10:35:22)
Beitrag: 78 von 2,007 (ID:34242803)
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