Halo Resources Ltd.
Halo Resources Ltd.: HALO REPORTS UP TO 60 g/t GOLD, 6% NICKEL AND 2% COBALT AT BRIDGET LAKE AREA, WEST RED LAKE PROJECT
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. ---------------------------------------------------------------------- 30. January, 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 that the 2007 West Red Lake field program returned high grade gold and base metal results. A total of 554 samples were collected in 2007 of which almost half returned anomalous gold values greater than 200 ppb. The principal zones of interest fall within a 3 km east-west trending deformation zone primarily hosted in felsic volcanics including target areas in the vicinity of Bridget Lake. Trenches and outcrops were sampled with the higher grade samples reported in the table below. There is evidence of both high grade gold (>5 g/t gold) in narrow veins as well as lower grade material (1 to 5 g/t gold) that defines broader zones. If you cant view the table below please go to www.halores.com Gold (g/t) Silver (g/t) Copper (ppm) Nickel (ppm) Cobalt (ppm) Bridget Lake North Shore Sample No. 9396 59.8 57.5 2,990 281 35 9397 6.7 33.1 5,020 219 62 56219 58.1 8.0 1,620 33 4 56222 20.4 8.0 972 214 19 56434 36.0 137.0 11,000 99 47 Bridget North Zone 9388 4.4 43.3 6,450 1,590 426 9389 2.1 41.7 8,110 1,600 332 9391 3.6 48.0 1,070 62,300 23,400 9392 18.3 32.6 3,880 8,030 1,530 9395 2.8 61.2 12,400 861 449 9421 1.8 0.8 54 175 18 56276 <0.005 21.8 3,760 749 105 56283 <0.005 19.4 358 1,950 529 56400 <0.005 1.0 8 1,660 110 'The association of high nickel and cobalt assays at the Bridget North Zone is highly intriguing given the association with sulphide-bearing strongly magnetic mafic rocks. The Pipestone Bay ultramafic complex outcrops just 500 m to the north and we will be investigating the relationship of the recent results to the regional geology. The gold and copper association at the north shore of Bridget Lake is also significant and both areas with be included in a follow up drill program in the next few months' says Lynda Bloom, President & CEO. Technical Background Bridget Lake North Shore Trenches and outcrop in an area of 100m by 200m at the northeast shore of Bridget Lake returned high grade gold and copper grades. Samples were collected of stacked quartz-chalcopyrite-pyrite veins cross-cutting mafic volcanics and quartz porphyry dike. Veins occupy many orientations but the most common is N220º and dipping 60-70º. Bridget North Zone Samples were collected from a series of trenches and outcrop over an area of 300m by 100m. The area falls within a strong deformation zone that is anomalous in gold (greater than 200 ppb) over an area of 700m by 300m. Samples are either high in gold, silver and copper or nickel, cobalt and copper. The exceptionally high nickel grade (6.2% nickel) and cobalt (2.3% cobalt) is from a 5cm-wide vein comprised of chlorite, quartz, sericite and mineralized with 30% fine-grained sulphides. Mostly mafic volcanics, in contact with magnetite-bearing banded iron formation, are exposed in trenches to the west with minor quartz-carbonate veining and disseminated chalcopyrite-pyrrhotite-pyrite. Other rock types mapped include an aphanitic strongly magnetic rock, siliceous coarse grained rock and mafic magnetic rocks with pyrite and pyrrhotite disseminated in all rock types. Rock samples were collected as grab samples or composite chips primarily from trenches that had likely not been sampled since the 1970s. Samples weighing 3 to 5 kg were submitted to the ALS-Chemex, Thunder Bay or SGS, Red Lake sample preparation facilities and analyses were performed as ALS-Chemex Vancouver or SGS Don Mills respectively. Both laboratories are international, accredited facilities. The entire sample was crushed and a 300 g split was pulverized. Base metals and a suite of up to 30 trace elements were determined by inductively coupled plasma spectrometry (ICP) after an aqua regia digestion and gold by standard fire assay with an ICP instrumental finish on a 30 g charge. Analysis for samples that reported outside the limits of the geochemical methods (i.e. 1% copper and zinc, 10 g/t silver, 1 g/t gold) were re-analyzed using assay methods. A quality control program consisting of blanks and analytical control standards has been implemented to monitor laboratory performance and no significant discrepancies are reported. The above information has been prepared under the supervision of Lynda Bloom, President & CEO, 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 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 lbloom@halores.com Contact Germany: Value Relations GmbH T. 069 / 959246 – 11 F. 069 / 959246 – 20 HALO@ir-services.de www.halores.com 30.01.2008 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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