TORONTO, ONTARIO--(Marketwire - May 25, 2010) - Lynda Bloom, President and CEO of Halo Resources Ltd. ("Halo", the "Company") (TSX VENTURE:HLO)(FRANKFURT:HRL) is pleased to announce continued near-surface, mineralized intersections at the Lost deposit. Recent intersections include up to 0.7% copper, 5.2% zinc, 4.8 g/t silver and 1.1 g/t gold over 7.8 meters, starting just 10 meters from surface.
"Drilling results demonstrate both strong continuity and that mineralization projects to surface. Halo is pleased with the results of the in-fill drill program, and looks forward to the completion of HudBay's assessment," says Lynda Bloom, President and CEO. "Encouraged by good grades and enhanced precious metal concentrations, we are investigating the extensions of the Cold-Lost trend, where it continues on claims held 100% by Halo."
Recently ground geophysical surveys are being interpreted and field investigations are planned this summer on the southern projection of the Cold-Lost trend.
Technical Highlights
Halo and Hudson Bay Mining and Smelting Co., Limited ("HudBay"), a subsidiary of HudBay Minerals Inc. (TSX:HBM) signed an option agreement on December 22, 2009 that allows HudBay to earn up to a 67.5% joint venture interest in a 1.1 square kilometer area that hosts the Cold and Lost mineralization. The February drill program was carried out as part of HudBay's work expenditures to maintain its interest.
A total of 4,484 meters of core drilling, in 30 drill holes, has been completed since the discovery of the deposit in 2007. Five drill holes were completed in February 2010 for a total of 548 meters. The holes were designed to test the near-surface extension of the mineralized zones and continuity of the nearly 400-meter strike length defined to date.
The significant assays are reported in the table below.
--------------------------------------------------------------------------- From To Width Copper Zinc Silver GoldHole ID Section (m) (m) (m)(ii) (%) (%) (g/t) (g/t)---------------------------------------------------------------------------DH10-149 4850 14.2 22.0 7.8 0.69 5.20 4.8 1.11--------------------------------------------------------------------------- incl 16.3 20.9 4.6 0.93 8.52 4.8 0.28---------------------------------------------------------------------------DH10-150 4700 15.9 22.0 6.1 0.42 0.89 4.8 0.30--------------------------------------------------------------------------- incl 17.0 17.9 0.9 1.28 4.12 16.3 0.89---------------------------------------------------------------------------DH10-151 4650 35.8 39.0 3.2 0.91 5.37 9.9 0.43---------------------------------------------------------------------------DH10-152 4600 35.6 38.7 3.2 1.05 3.11 11.8 0.59--------------------------------------------------------------------------- and 43.3 44.4 1.1 0.48 0.05 3.5 0.09---------------------------------------------------------------------------DH10-153 4750 14.4 17.6 3.2 0.72 1.13 6.4 0.17---------------------------------------------------------------------------(ii)All Azimuth's are 222 degrees and dips are -45 degrees. True widths are approximate as deposit geometry is unknown.
A location map shows the relative position of the Cold deposit, just 400 meters northwest of the Lost deposit with recent assays reported up to 2.7% copper and 4.1% zinc over 17.3 meters.
Note: To view the map, please click the following link: https://media3.marketwire.com/docs/hlo0525.pdf
Sample preparation, assaying and assay quality control are consistent with procedures outlined in the January 15, 2010 press release.
The above information has been prepared under the supervision of Lynda Bloom, 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 OF DIRECTORS
Marc Cernovitch, Chairman