Halo Increases West Red Lake Claim Position
June 07 2011 - 6:50AM
Marketwired
Lynda Bloom, President and CEO of Halo Resources Ltd. ("Halo", the
"Company") (TSX VENTURE: HLO)(FRANKFURT: HRLN) is pleased to
announce the expansion of the West Red Lake property area
contiguous with claims held in joint venture with both Red Lake
Gold Mines Partnership (RLGMP), a partnership between Goldcorp
Canada Ltd. and Goldcorp Inc. (TSX: G)(NYSE: GG) ("Goldcorp").
A total of 7 new claims, covering a total of 642 hectares have
been staked and recorded. The claims are held 60% by Halo, 40%
RLGMP and cover an area of sheared felsic volcanics, that also host
the 1930s-era Miles Red Lake and May-Spiers Gold Mines (see
following map, http://media3.marketwire.com/docs/hlo0607.pdf). The
joint venture property package has been increased by 20 percent to
a total of 3,472 ha.
"Halo has further expanded its land position in an area with
numerous historical gold showings and the focus of our last four
years of exploration", says Lynda Bloom, President and CEO. "We
look forward to the summer work program and defining the next round
of drill targets".
Almost 60 line-kilometers of the winter Induced Polarization and
magnetics geophysical surveys have been completed. The surveys have
been designed to identify additional drill targets over a 2
kilometer strike length west of Bridget Lake within the same
package of gold-bearing chemical metasediments that host the most
recent high grade gold intersections. The area along the northwest
shore of Trout Bay adjacent to the terrane-bounding fault that
separates the Ball assemblage from the Trout Bay assemblage is
proposed as a highly prospective location for further field work
and drilling.
ON BEHALF OF THE BOARD OF DIRECTORS
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. The Company's main focus is the 200 sq. km. Sherridon VMS
Property, a combination of mature and grassroots volcanogenic
massive sulphide (VMS) copper, zinc and gold exploration
opportunities. The Company has a joint venture interest in the
Duport Property, an advanced gold property near Kenora, Ontario and
is the operator for contiguous joint venture properties in West Red
Lake covering 26 sq. km. The Company is operated by an experienced
management team with a growth strategy to develop a diversified
portfolio of advanced mining projects.
Forward Looking Statements
This Company Press Release may contain certain "forward-looking"
statements and information relating to the Company that are based
on the beliefs of the Company's management as well as assumptions
made by and information currently available to the Company's
management. Such statements reflect the current risks,
uncertainties and assumptions related to certain factors including,
without limitations, competitive factors, general economic
conditions, customer relations, relationships with vendors and
strategic partners, the interest rate environment, governmental
regulation and supervision, seasonality, technological change,
changes in industry practices, and one-time events. Should any one
or more of these risks or uncertainties materialize, or should any
underlying assumptions prove incorrect, actual results may vary
materially from those described herein.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: First Canadian Capital Corp. 416-742-5600 or Toll
Free: 1-866-580-8891 ir@halores.com www.halores.com
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