Ms. Lynda Bloom reports
HALO REPORTS DRILL RESULTS AT WEST RED LAKE
Halo Resources Ltd. has provided the results of the Novemberdrill program at the West Red Lake property, on claims held in jointventure with both Red Lake Gold Mines Partnership, a partnership betweenGoldcorp Canada Ltd. and Goldcorp Inc.
Four widely spaced drill holes, for a total of 1,401 metres, werecompleted to test a unit of chemical metasediments over a strike lengthof 1,000 metres. The holes were all drilled east of the Bridget Lakeclaims, held by Tribute Minerals and Halo. The highest-gradeintersection reported was 18.8 grams per tonne gold over 0.8 metre, inhole NGI 10-31, the hole farthest to the east and north of GalenaIsland. Other holes intersected broad zones highly anomalous in gold.Hole EBL10-027 intersected a 57.98 m wide zone with an average grade of146 parts per billion Au and hole EBL10-029 intersected a zone 22.01 mwide with a mean grade of 629 ppb Au.
These results are east of the gold mineralization in the Bridget Lakearea that included a drill hole intersection of 7.1 g/t gold over 5.8metres (hole RL08-009), that occurs between two known zones of visiblegold mineralization associated with narrow quartz veins that outcrop onboth the north and west shores of Bridget Lake, and assay up to 161 g/tgold. All of the gold is associated with the same unit of chemicalmetasediments intersected in the latest drill holes. The significantdifference with the last four holes drilled is that sulphide was largelyabsent from dolostone in the 2008 core, except as occasional fracturefill and rare disseminations and was much more common in the fall 2010core. In addition, the sulphide-rich graphitic siltstone was notobserved in the 2008 core and the magnetite-rich iron formation was notintersected by RL08-009, and it is not observed on surface but ispersistent to the east.
"Halo continues to be encouraged by the continued intersection of goldmineralized zones in the chemical metasediment stratigraphy that has astrike length on its claims of over five kilometres. Although themineralization to date has been subeconomic, these zones represent anexcellent source rock with substantial volume from which gold can beconcentrated by late-stage fluids," says Lynda Bloom, president andchief executive officer. "Further exploration of this area will look forcrosscutting structures and other 'traps' that may have concentratedthe large volume of low-grade mineralization to economic grades."Halo is planning a winter geophysical program to aid in identificationof additional drill targets over a two-kilometre strike length west ofBridget Lake within the same package of gold-bearing chemicalmetasediments. The area along the northwest shore of Trout Bay adjacentto the terrane-bounding fault that separates the Ball assemblage fromthe Trout Bay assemblage is proposed as a highly prospective location.
Technical highlights
Drilling conducted by Halo Resources in October and November of 2010targeted a sequence of siliciclastic and chemical sediments that havepreviously been shown to host small but very high-grade goldoccurrences. The stratigraphic sequence consists of a thick package ofsiliciclastic sediments overlying dolostone followed by iron formationand then a second interval of dolostone. This sequence has beeninterpreted as a syncline, so the second dolostone interval may be arepeat of the first. The siliciclastic package consists largely ofsandstone with subordinate quantities of siltstone, mudstone andconglomerate. The dolostone consists largely of ankeritic dolostone withabout 10-per-cent chert, present as thin beds. Sulphides are commonlypresent as a few percent pyrrhotite or pyrite. The dolostone ranges fromnear pristine to highly deformed and recrystallized. Where preserved,stromatalitic mounds are occasionally observed. The iron formationconsists of both banded chert-magnetite and sulphide-rich graphiticsiltstone, interbedded on the scale of several metres. Deformation isaccommodated by the relatively ductile graphitic siltstone. The brittlefaults that were observed were in the one-metre range, showed little tono alteration adjacent to the fault and were tight with littlepermeability due to annealing of quartz and carbonate clasts. Thisstratigraphic sequence is occasionally cut by dikes of variouscompositions. A table summarizes the grade and intersection lengths formineralization intersected in the November, 2010, drill program. Truewidths are not known.
Hole From To Grade Width Grade/width
(m) (m) (ppm) (m) (ppm/m)
EBL10-028 64.97 66.00 1.43 1.03 1.47
EBL10-028 405.89 406.95 3.48 1.06 3.69
EBL10-029 52.13 53.15 1.70 1.02 1.73
EBL10-029 52.13 54.40 1.17 2.27 2.65
EBL10-029 74.00 75.00 1.43 1.00 1.43
EBL10-029 121.03 125.54 1.92 4.51 8.68
EBL10-029 135.00 141.00 0.59 6.00 3.56
NGI10-031 79.96 81.34 2.77 1.38 3.82
NGI10-031 188.16 189.00 18.80 0.84 15.79
EBL10-027 was drilled to intersect magnetic and IPanomalies and a fault suggested by features in the geophysical data. Thehole was collared in iron formation and continues down through thisunit for 313 m. Below 316 m, the hole intersected the ankeriticdolostone portion of the stratigraphy. These two units are in faultedcontact, with a brittle fault between 313 and 316 m depth.
EBL10-028 was drilled almost 150 m west of EBL10-027 to providefurther coverage of the same zone of deformation. The hole was collaredin iron formation but intersects a brittle fault at only 13 m depth thatjuxtaposes the upper siliciclastic sediments against the ironstone. Thesiliciclastic sediments continue from 13 m to 289 m downhole. These arefollowed by the dolostone, which continued to the end of hole at 453 m.
EBL10-029 was drilled about 250 m farther to the west ofEBL10-028 to intersect a broad magnetic anomaly. The hole was collaredin dolostone, which continued down to 125 m depth. Below this depth, 10to 15 m wide beds of chert-magnetite banded iron formation wereencountered interbedded with the dolostone.
NGI10-031 was drilled from the north shore of Trout Bay towardGalena Island in order to intersect two closely spaced, parallelmagnetic anomalies. The hole was collared in dolostone, which continuesdown to 192 m depth. The hole then intersects iron formation down to adepth of 364 m, followed by dolostone to the end of hole at 372 m depth.The double magnetic anomaly was found to have been caused by intrusionof the ironstone by a 40 m wide non-magnetic dike rather thanstratigraphic repeat of the ironstone.
Drill core samples were collected and assayed as described in the June4, 2010, press release, as reported in Stockwatch on June 3, 2010. Theabove information has been prepared under the supervision of Ms. Bloom,president and CEO, PGeo, who is designated as a qualified person withthe ability and authority to verify the authenticity and validity of thedata.
We seek Safe Harbor.
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