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HALO ADVANCES SHERRIDON REGIONAL EXPLORATION PROGRAM Toronto, Ontario, June 18, 2008 – Lynda Bloom, President and CEO of Halo Resources Ltd. (the “Company”) (TSXV:HLO; FSE:HRL) is pleased to announce that the 2008 regional exploration program is being aggressively advanced with follow up of high-priority targets across the 20 km by 15 km property package. Halo has completed 28,332 m of drilling since November 2006 with the majority of the drilling concentrated in the vicinity of four closely-spaced deposits; Cold, Lost, Bob and Jungle Lakes. The 2008 drill program was expanded outside the immediate areas of these deposits with a total of 16% of the drill meterage to-date being used to test additional new high priority targets. “Halo has a long term commitment to the Sherridon VMS Property which includes making new discoveries, on the 20,000 hectare land package and at depths greater than 150m. We are the first company to systematically apply the advances in new geological models, sophisticated lithogeochemistry, structural 3-D modeling and geophysical methods with deeper penetration capacities“, says Lynda Bloom. “We have a bank of target areas that are ranked on the basis of these modern technologies and we are evaluating, ground-truthing, drill-testing and re-interpreting them to advance these targets to new discoveries.” Halo will be hosting a webcast on Thursday June 19, 2008 at 4:00 pm ET to discuss its 2008 exploration program and the identified targets on the Sherridon property. The webcast can be accessed using the following link http://www.investorcalendar.com/ClientPage.asp?ID=131258 or through Halo’s website at www.halores.com. The diamond drill program was augmented by an innovative winter Geomachine bedrock drilling program where 604 holes were completed to a maximum depth of 37 m. The Geomachine is a new technique being tested in Canada that allows sub-surface geological mapping in overburden covered areas by collecting bedrock chip samples. The use of this and other state-of-the-art methods increase the Company’s ability to find new deposits as exploration efforts are expanded outside the immediate area of the known deposits. The accompanying map shows the areas that were mapped in 2007, some of which had Phase I drilling applied (for example E17), and those areas that will be mapped in 2008. Priority targets, such as the Karl area north of Cold Lake, the northern extension of the West Mine area and other summer-accessible targets are scheduled for drill testing over the next few months. Assays are pending for the Geomachine bedrock samples as well as 7 drill holes completed at the Sherridon-Bob Lake deposit which are designed to test the third dimension of the 1,000m-long massive sulphide lens. A NI43-101 compliant report is in progress to report on resource calculations for Cold, Lost and Bob Lakes; a NI43-101 compliant resource calculation for Jungle Lake was reported in January 2008. Technical Highlights The target area drilling focused on several geophysical targets that were mapped in the 2007 field season. For example, a total of 8 short diamond drill holes, for a total of 1,206 m were completed at geophysical target E17 confirming the presence of the prospective mineralized horizon, which hosts known deposits at the Sherridon VMS Property. E17 is located 5,000m east of the Bob Lake deposit and mineralization was reported within 200m of surface. Results from the E17 semi-massive and disseminated sulphide zones include 0.6% Cu over 7.1 m and 0.8% Cu over 2.8 m with associated elevated zinc and silver concentrations. Drilling encountered primarily felsic gneisses with broad zones of sillimanite-garnet-biotite alteration that are commonly associated with massive sulphide mineralization. At Scotty Lake, almost half way between E17 and the surface extension of Bob Lake, five drill holes were completed for a total of 1,574m. Mineralized intervals reported up to 0.8% zinc over 4m, including one 0.3m section grading 7.8% zinc. The mineralized horizon was again confirmed, providing additional confidence in the geological model and quality of the 122 geophysical targets defined by the 2006 Geotech VTEM and magnetics airborne survey. 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 |
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| aus der Diskussion: | HALO RESOURCES LTD (GOLD / KUPFER / ZINK) Info Thread |
| Autor (Datum des Eintrages): | Grenzenlos (19.06.08 13:58:21) |
| Beitrag: | 82 von 2,007 (ID:34332841) |
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