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Additional Information
Market: TSX-V
Sector: General Mining
EPIC: HLO
Latest Price: 0.10  (-9.09% Descending)
52-week High: 0.54
52-week Low: 0.07
Market Cap: 2.90M
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Halo Resources
www.halores.com

Halo is a Canadian-based resource company focused on the acquisition and development of near-production stage gold and base metal deposits. Currently the Company owns or has an interest in 3 projects: the Sherridon VMS  copper-zinc property in Manitoba and the West Red Lake and Duport gold properties in Ontario.

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Halo Resources announces start of 1,250 metre drill program at Lost deposit in Manitoba

9th Sep 2010, 7:14 pm
Halo Resources announces start of 1,250 metre drill program at Lost deposit in Manitoba

Canadian mining company Halo Resources (TSX VENTURE: HLO) (FSE: HRL) has announced that Hudson Bay Mining and Smelting, an affiliate of HudBay Minerals (TSX: HBM), has begun a 1,250 metre drill program at the Lost deposit on its joint venture Sherridon VMS property in Manitoba, as a means to collect representative samples for metallurgical test work from 12 new drill holes.

In December 2009, HudBay signed an option agreement to earn up to a 67.5% joint venture interest in a 1.1 square kilometre area of the 200 square kilometre Sherridon property, which hosts the Cold and Lost mineralization.

Drill programs in late 2009 and early 2010 on the property generated intersections of up to 2% copper and 6% zinc over 11.8 meters.

Preliminary metallurgical sampling by Halo in 2009 returned copper and zinc recoveries in batch cleaner flotation test work in the range of 85 to 88%, copper concentrate grades of 26.5% to 28%, and zinc concentrate grades of 25% to 31%.

These preliminary tests, however, were not optimized for re-grinding or re-agents.

The new metallurgical samples will allow the companies to do a complete assessment of the ore to determine if a saleable concentrate can be produced using a flow sheet that is the same or similar to that currently employed at HudBay's Flin Flon concentrator, said Halo.

Gold and silver assays were also not included as part of Halo's 2009 metallurgical testing, but will be included in the 2010 program, as the gold and silver content of the Lost deposit ore is expected to "enhance the economics of the project".

The current drill program is anticipated to be completed during September and preliminary metallurgical results will be received by the end of October.

Subject to satisfactory metallurgical test results, the findings will help HudBay`s decision on the start of pre-feasibility engineering, which HudBay is expecting by early 2011.

Halo will also continue its summer field program focused on generating high priority drill targets immediately along strike to the east on the property, it said.

Halo is involved in the acquisition of near production base and precious base metal deposits. The company's focus is the 200 sq. km. Sherridon VMS Property, a combination of mature and grassroots volcanogenic massive sulphide, copper, zinc and gold exploration opportunities.

The company also has a joint venture interest in the Duport Property, an advanced gold property near Kenora, Ontario and is the operator for several contiguous joint venture properties in West Red Lake.

Halo climbed more than 4% to $0.24 on Thursday as of 2:05pm ET on the TSX-Venture Exchange. 

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