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HALO COMMENCES DRILLING AT WEST RED LAKE Toronto, Ontario, June 9, 2008 -- Lynda Bloom, President and CEO of Halo Resources Ltd. (TSX:HLO; FSE:HRL) is pleased to announce that a diamond drill rig has been mobilized to the West Red Lake (“WRL”) property held by Halo Resources Ltd. (“Halo”, “the Company”) under option from Red Lake Gold Mines, a general partnership of Goldcorp Inc. (TSX: G; NYSE: GG) and Goldcorp Canada Ltd. Drilling has commenced in the vicinity of the West Middle Bay gold occurrences. At West Middle Bay, disseminated sulphides and/or quartz-carbonate veins are commonly reported with high metal values up to 172 g/t gold, 5.6% copper, 4.6% zinc and 314 g/t silver (see press release February 7, 2008). Five drill holes (1,000m) are planned to test two parallel zones with highly anomalous gold values and coincident geophysical anomalies. The 2007 geophysical surveys include 700m-long IP (induced polarization) anomalies within an area of low magnetic signal, often reflecting alteration indicative of gold deposits. “Although there are numerous historic trenches in the West Middle Bay target area, there are no records of previous drilling. Our drill program is designed to test to depths of 150m from surface and we will have a much better idea of the extent of the mineralization and its orientation after this drill program. Given that the area being tested lies almost midway between the May-Spiers and Miles Red Lake 1930s-era mines, just 3 km apart, we anticipate positive results from the preliminary drill program”, says Lynda Bloom. An additional 750m of drilling are planned at the North Bridget Lake showing (see press release January 30, 2008) when the West Middle Bay drill program has been completed. Field crews plan to follow up drilling with detailed geological mapping and structural interpretation in preparation for an anticipated winter drill program. About the West Red Lake Gold Property The Red Lake greenstone belt is host to the richest gold deposit in the world. The high-grade zone at the Red Lake Mine contains 4.6 million ounces at a grade of 2.35 oz/ton gold. The Red Lake Camp has produced over 25 million ounces. Halo’s West Red Lake Property is optioned from Red Lake Gold Mines, a general partnership of Goldcorp Inc. (TSX: G; NYSE: GG) and Goldcorp Canada Ltd and is located 30 km west of the Campbell and Red Lake Mines. The property covers widespread gold mineralization from surface showings and the May- Spiers 1930-era gold mine Hemlo Gold Mines Ltd., Goldcorp, Cochenour-Willans Gold Mines Ltd, Dumont Nickel and May-Spiers Gold Mines Ltd. have carried out intermittent exploration in this area since 1935 and the property has now been consolidated into a larger package of contiguous claims. ON BEHALF OF THE BOARD Lynda Bloom, President and CEO |
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| aus der Diskussion: | HALO RESOURCES LTD (GOLD / KUPFER / ZINK) Info Thread |
| Autor (Datum des Eintrages): | Grenzenlos (11.06.08 15:15:44) |
| Beitrag: | 80 von 2,007 (ID:34281916) |
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