Halo Resources Ltd.
HALO REPORTS MASSIVE SULPHIDE LENS OVER 1000m AT BOB LAKEHalo Resources Ltd.:
Halo Resources Ltd. / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- January 15, 2008, Toronto, Ontario – Lynda Bloom, President and CEO of Halo Resources Ltd. (the 'Company') (TSXV:HLO; OTC.BB:HLOSF; FSE:HRL) is pleased to announce results for drilling at the Bob Lake deposit, at the Sherridon VMS deposit, northwestern Manitoba. The continued drilling at Bob Lake was primarily designed to test continuity of the 1,000 m long massive sulphide zone that plunges at 11 to 15 degrees from surface to depths of 250 m. Lynda Bloom, President & CEO stated 'We continue to be impressed with the widths of 5 to 17 m that have been intersected and the consistency of the grades, especially copper grades over 1%. Our intention is to complete sufficient drilling at Bob Lake to test the geometry of the orebody and advance to a 43-101 compliant resource estimate. The massive sulphide lens has now been tested at 50 m intervals over a length of 1,000 m and is still open at depth. With the onset of winter, we can return to drilling the deeper extensions that were previously inaccessible.' After a short Christmas break, two diamond drill rigs have recommenced round-the-clock drilling. Numerous drill targets will be tested at Cold Lake, Bob Lake, Jungle Lake and new high priority exploration targets through the winter season. Technical Highlights Results from six drill holes, for a total of 1,036 m, are reported in the assay table below. Drill hole DH07-63 tested the down plunge extension of a thicker part of the lens which had been intersected in previous drill holes (DH07-11 and 12). The geometry of the 'bulge', a feature that appears to be injected into the hangwall, is of interest as Sherritt Gordon reported 25% of the massive sulphides in the past producing East and West Mines were associated with similar features. DH07-62 was drilled to provide drill hole spacing of approximately 50 m over the entire distance tested from surface and down plunge along the Bob Lake massive sulphide lens, which is still open at depth. Drill holes DH07-64 through DH07-67 were all drilled to confirm vertical holes completed in the 1940s by Sherritt Gordon. The assays for 70 shallow holes drilled by Sherritt Gordon in 1941-1942 constitute an important proportion of the Bob Lake database; the good correlation between the historical and current drilling allows the historical mineralized intersections to be incorporated in future resource models. If you can't view the table please go to www.halores.com Hole Dip/ Azimuth From (m) To (m) Interval (m) Copper (%) Zinc (%) Silver (g/t) Gold (g/t) DH07-62 -61/225 176.9 191.6 14.7 1.43 1.76 10.4 0.32 DH07-63 -76/225 86.3 103.1 16.8 1.25 1.57 8.2 0.15 DH07-64 -90/0 107.5 114.5 7.0 1.41 1.97 11.8 0.24 DH07-65 -90/0 103.9 112.0 8.1 1.20 0.99 8.9 0.27 DH07-66 -90/0 103.3 107.8 4.5 1.36 2.09 9.0 0.47 DH07-67 -64/225 110.1 115.0 4.9 1.25 0.96 7.8 0.24 * Widths may be overstated by up to 20% in steeply dipping holes. For the map showing drill hole points please go to www.halores.com 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 Steve McConnell, who is designated as a 'Qualified Person' with the ability and authority to verify the authenticity and validity of the data. About Halo Resources Ltd. Halo is a Canadian-based resource company focused on the acquisition of near production base and precious base metal deposits. Currently the Company owns or has an interest in 3 projects: Duport, which is an advanced stage gold project; Red Lake, which is a gold exploration project, and the Sherridon project that is a combination of mature and grassroots volcanogenic massive sulphide (VMS) copper, zinc and gold exploration opportunities. The Company is operated by an experienced management team and backed by a strong network of mining financiers. The Company's growth strategy is to develop a diversified portfolio of advanced mining projects. ON BEHALF OF THE BOARD Lynda Bloom, President and CEO For further information, please contact: Lynda Bloom, President & CEO or Marc Cernovitch, Chairman Halo Resources Ltd. Tel: 416-368-7045 Fax: 416-368-9805 Toll Free: 1-866-841-0068 lbloom@halores.com Contact Germany: Value Relations GmbH T. 069 / 959246 – 11 F. 069 / 959246 – 20 HALO@ir-services.de www.halores.com 15.01.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Halo Resources Ltd. Suite 1280, 625 Howe Street V6C 2T6 Vancouver, BC Kanada Phone: +1 604 484 0068 Fax: +1 604 484 0069 E-mail: info@halores.com Internet: www.halores.com ISIN: CA40637D1087 WKN: A0DQZ4 Listed: Freiverkehr in Berlin; Open Market in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
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