It looks like we received some more positive news from Halo today in the form of very respectable results which have further increased the strike length, and thus the resource size, of the Lost deposit.
On November 4th, Halo released an updated 43-101 compliant resource which showed a resource of approx. 5.3 million tonnes within the Cold-Lost deposit:
Subsequently, we have received 3 press releases containing additional results on the lost deposit:
February 23, 2011
Halo Announces North Extension of Lost Deposit, Manitoba
December 1, 2010
Halo Reports HudBay Drill Results at Lost Deposit - 2.3% Copper and 7.5% Zinc over 6.8 meters
November 12, 2010
Halo Reports up to 3.3% Copper and 8.6% Zinc over 7.3 meters
The good news is that these additional results will help to establish a new and larger resource for the Cold-Lost deposits which form part of the JV with Hudbay. According to today's press release:
"...the mineralized wireframe used to estimate mineral resources will need to be expanded to the north as a result of this drilling. HudBay is awaiting final metallurgical test results and is preparing a National Instrument43-101 compliant resource estimate, which is expected by the end of the first quarter of 2011."
Hopefully we will see the Cold-Lost deposit increase in size by at least one to two million tonnes. We should know the answer to that by the end of March when the updated 43-101 is released. I'm assuming shortly thereafter we should get the answer that we have all been waiting for ... Whether Hudbay takes the Cold-Lost deposit into production.
In the meantime I'm hoping we get some positive results from what I consider to be the blue sky drill programs testing the new targets within Sherridon. I've got my fingers crossed as any significant hits would attract more attention to the area.
I'm content with today's results and continue to remain long on Halo and its future prospects.
As always, the above is my humble opinion.
Regards,
The 300