Halo Resources Ltd.
Halo Resources Ltd.: HALO SAMPLES HIGHEST GOLD AND BASE METALS RESULTS FROM WEST MIDDLE BAY, 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. ---------------------------------------------------------------------- HALO SAMPLES UP TO 172 g/t GOLD, 314 g/t SILVER and 5.6% COPPER AT WEST MIDDLE BAY, WEST RED LAKE PROJECT Toronto, Ontario, February 7, 2008 – Lynda Bloom, President and CEO of Halo Resources Ltd. (TSX.V:HLO; FSE:HRL) is pleased to announce that the recent field program returned high grade gold and base metal results from the West Middle Bay project, optioned from Red Lake Gold Mines, a general partnership of Goldcorp Inc. (TSX: G; NYSE: GG) and Goldcorp Canada Ltd. (see news release dated July 6, 2006), in Red Lake, Ontario. The project is located at the west end of a 3 km east-west trending deformation zone and located midway between the 1930s-era May-Spiers and Miles Red Lake mines. Trenches and outcrops were sampled with the higher grade samples reported in the table below. High grade gold values are associated with disseminated sulphides and/or quartz-carbonate veins and are commonly reported with high metal values such as copper up to 5.60% (56,000 ppm), zinc up to 4.56% (45,600 ppm) and silver up to 314 g/t. Sample No. Gold (g/t) Silver (g/t) Copper (ppm) Zinc (ppm) Lead (ppm) 56440 172 314 10,900 1,580 1,160 9376 19.6 237 9,620 352 311 9378 16.2 80.5 4,020 10,900 7,160 56314 15.3 75.0 286 6,130 7,990 56441 12.5 52.5 4,080 1,260 369 56439 6.98 251 56,000 45,600 5,650 56443 5.01 46.5 7,140 603 589 56437 4.49 5.0 806 151 72 9375 3.44 16.9 314 11,100 494 9379 3.34 8.6 1,490 226 101 56264 2.3 59.0 39 27,000 3,480 9374 2.2 12.7 312 8,340 449 'The results from the West Red Lake-Middle Bay Property are an impressive indication of the high grade mineralization that occurs on surface in the area. Historically there has been limited drilling at Halo’s West Middle Bay, May-Spiers and Bridget Lake projects, all of which lie within a 3,000 m-long deformation zone. There are a series of high priority drill targets that we expect to test in the next few months', says Lynda Bloom, President & CEO. Technical Background The samples were collected from within an area of 150 m by 50 m where a suite of 41 samples have elevated gold and base metal values. Mineralization occurs as (a) disseminated sulphides in high strain zones, parallel to the regional foliation fabric, (b) as quartz-carbonate veins with trace sulphides mostly developed after regional foliation, and (c) as metre-wide gold zones associated with disseminated sulphides in high strain zones sub-parallel to the dominant foliation fabrics. The area sampled in 2007 is 350 m south of the zone sampled in Q4 2006 where a series of old trenches exposing silicified shear zones returned up to 4.93 g/t gold, 75.5 g/t silver and 3.63% copper over 0.80 metres. Rock samples were collected as grab samples or composite chips primarily from trenches that had likely not been sampled since the 1970s. Sampling, assaying and quality control procedures are consistent with those reported in the Technical Background of the press release issued January 30, 2008. 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. 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 and is currently being explored by a number of senior gold companies that include AngloGold, Teck Cominco, Barrick and Goldcorp. Halo’s West Red Lake Property is located approximately 30 km west of the prolific Campbell and Red Lake Mines in the Red Lake Camp. The property covers widespread gold mineralization from surface showings and also small gold deposits. Previous exploration by a number of companies including Hemlo Gold Mines Ltd., Goldcorp, Cochenour-Willans Gold Mines Ltd, Dumont Nickel and May-Spiers Gold Mines Ltd. has carried out 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 For further information, please contact: Lynda Bloom, President & CEO or Marc Cernovitch, Chairman 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. Kontakt Deutschland: Value Relations GmbH T. 069 / 959246 – 11 F. 069 / 959246 – 20 HALO@ir-services.de www.halores.com 07.02.2008 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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