Halo Announces Positive Drill Results at Duport.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Marc Cernovitch, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Halo Resources Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:HLO HLO Hello HLO Helicopter Landing Officer (offshore oil and gas industry) HLO High Lunar Orbit HLO Helicobacter-Like Organism HLO Hot-line Operator HLO High Level Orchestrator )(OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). .BB:HLOSF)(FSE FSE 1. feline spongiform encephalopathy. 2. focal symmetrical encephalomalacia. :HRL HRL Hughes Research Laboratories HRL Harlingen, TX, USA (Airport Code) HRL Hunter River Lancers HRL Health Research Laboratory HRL Horizontal Reference Line HRL Home Run League (adult Wiffle ball league) ) is pleased to report that the initial results from the first five holes of a 50 hole exploration program have resulted in a significant expansion of the areas of known mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. at the Company's Duport gold project near Kenora, Ontario This page is about a city in Ontario, Canada. For other uses, see Kenora (disambiguation). Kenora (2006 population 15,177), originally named Rat Portage, is a small city situated on the Lake of the Woods in northwestern Ontario, Canada close to the Manitoba . The Company anticipates that the acquisition of this project will close in the next several weeks (as detailed in a press release dated Marc 2nd, 2005). Notable highlights of the Phase 1 drill program to date include: - High-grade gold intersections in three of first five holes. Intersections were 0.535 opt over 13.0 feet, 0.337 opt gold over 4.0 feet, and 0.788 opt gold over 3 feet. (Note: Assay grades greater than 1.0 opt Au have been cut to 1.0 opt.) - Continuation of mineralization at depth. Two holes have extended the zone of mineralization some 600 feet below the central core of the resource. One hole testing an area several hundred feet below the main known resource returned 0.337 opt gold over 4.0 feet and another has extended the mineralization to a vertical depth of 900 ft., returning 0.141 opt gold over 5.0 ft. (Note: Assay grades greater than 1.0 opt Au have been cut to 1.0 opt.) Significant intercepts reported to date are presented in Table 1 below. These are the first results from a core drilling program designed to test and expand the prospective Main and East Zones which collectively comprise the previously identified Duport gold resource. Although not compliant with NI43-101, historical studies estimate the resource to contain approximately 1.9 million short tons grading 0.36 opt in all resource categories. The initial results indicate that suitable structure and gold mineralizations continues well below previously identified areas and remain open both at depth and along strike. The potential, therefore, for continued expansion of the known resource base at Duport remains extremely high. Gold mineralization at Duport is hosted by well-developed quartz and sulphide-rich zones that occupy a pronounced flexure flexure /flex·ure/ (flek´sher) a bend or fold; a curvation. caudal flexure the bend at the aboral end of the embryo. cephalic flexure the curve in the midbrain of the embryo. along the western margin of the Stevens Island sub-volcanic complex. This flexure is spatially related to a zone of intense deformation, defined as the Duport Deformation Zone (DDZ DDZ Deutsches Diabetes Zentrum (German) ). The DDZ is a reverse fault system, several hundred feet wide, trending northeasterly north·east·er·ly adj. 1. Situated toward the northeast. 2. Coming or being from the northeast. north·east over a strike length of 9 miles. At Duport, historical surface and underground drilling has defined mineralization over a strike length of 4,000 ft to a vertical depth of 1,600 ft., where it remains open. The immediate exploration plans are as follows: - Continue additional in-fill and resource expansion drilling to investigate the Main and East Zones at depth and along strike to the southwest. - Complete a 70 line km of grid work and detailed geophysical surveying Geophysical survey refers to the systematic collection of geophysical data for spatial studies. Geophysical surveys may use a great variety of sensing instruments, and data may be collected from above or below the Earth's surface or from aerial or marine platforms. in order to map and define structural complexities immediately north and south of Duport. Geophysical anomalies will receive priority ranking and will be aggressively targeted for follow-up drill testing. - Using existing and new drill hole data, complete a geological model to form the basis for a new, NI 43-101 compliant resource estimate - Complete an internal scoping study to establish the economic viability of a short term production start-up. It is anticipated that a positive study result would result in the immediate continuation of the proposed exploration program from the already extensive underground workings.
Table 1. Summary of Recent Results from Main and East Zones
Note: Assay grades greater than 1.0 opt Au have been cut to 1.0 opt
ASSAY
HOLE SECTION TARGET FROM TO LENGTH (Opt GRADE
(ft) (ft) (ft) Au) (Opt Au - ft)
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05-01 10,200N North Main 655.8 656.8 1.0 0.366
656.8 657.8 1.0 1.550 0.788 - 3.0
657.8 658.8 1.0 1.090 (cut)
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05-02 8,400N South Main 240.0 242.0 2,0 0.739
242.0 244.0 2.0 1.314
244.0 246.0 2.0 0.723
246.0 247.0 1.0 0.186 0.535 - 13.0
247.0 249.0 2.0 0.370 (cut)
249.0 251.0 2.0 0.313
251.0 253.0 2.0 0.243
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05-03 8,400N HW Main 411.0 413.0 2.0 0.130
413.0 414.0 1.0 0.138 0.134 - 3.0
South Main 570.5 573.0 2.5 0.049
573.0 575.0 2.0 0.009 0.041 - 5.5
575.0 576.0 1.0 0.086
East Zone 636.0 638.0 2.0 0.190
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05-04 8,400N South Main 1028.0 1030.0 2.0 0.109
1030.0 1032.0 2.0 0.179 0.146 - 5.0
1032.0 1033.0 1.0 0.156
East Zone 1071.0 1072.2 1.2 0.454
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05-05 9,100N HW Main 784.0 785.0 1.0 0.470
Central Main 972.0 974.0 2.0 0.320
974.0 975.0 1.0 0.013 0.337 - 4.0
975.0 976.0 1.0 0.693
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Note: Assay grades greater than 1.0 opt Au have been cut to 1.0 opt
Assaying is conducted on sawn NQ-sized half core sections by Accurassay Laboratories using conventional fire assay procedure. Standards and blanks are included in each sample batch submitted for analysis. The field work is supervised by Kevin Leonard, the project Qualified Person under the definition of NI 43-101. Halo Resources Ltd. (TSX.V:HLO; OTC.BB:HLOSF; FSE:HRL) is a Canadian-based resource company focused on the acquisition of near production base and precious base metal deposits. The Company is operated by an experienced management team and backed by a strong network of mining financiers. Currently the Company has a treasury of $5 million, to carry forward its operations. The Company's growth strategy is to develop a diversified portfolio of advanced mining projects. Website: www.halores.com ON BEHALF OF THE BOARD "Marc Cernovitch" President & CEO The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Except for the historical statements contained herein, this news release presents forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve inherent risks and uncertainties. Although the management and officers of Halo Resources Ltd. believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, they give no assurance that their expectations will be achieved. Certain risks and uncertainties inherent in the Company's operations include political, economic, environmental and geological issues, including but not limited to, the continued need for additional capital, the competition within the mining industry, and other risks detailed from time to time in the Company's periodic reports filed with the British Columbia Securities Commission The British Columbia Securities Commission (BCSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of British Columbia. External links
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