Halo Resources drills 100 m at 0.88 to 9.84 g/t Au

2008-12-04 10:49 ET - News Release

Ms. Lynda Bloom reports

HALO REPORTS GOLD MINERALIZATION IN 50M-ZONE AT BRIDGET LAKE

Halo Resources Ltd. is providing the results of a phase one drill program and detailed channel sampling at the Bridget Lake target area, on the Red Lake Gold Mines-Halo West Red Lake (WRL) joint venture property.

Five diamond drill holes were completed in an area where no drilling has previously been reported. Mineralized veins were intersected over a 100-metre interval in hole RL08-06 over narrow widths with grades varying from 0.88 to 9.84 grams per tonne gold. Hole RL08-06 cuts Area 1 that was also channel sampled in detail (see figure).

Area 1 is located within a 600-metre-long zone of gold-enriched surface samples collected in 2008 (see the company's news in Stockwatch on Jan. 30, 2008). Results received so far show excellent gold values (up to 8.6 grams over one metre) and good continuity over a 50-metre-by-five-metre area. Gold mineralization was consistently reported along a mafic-ultramafic contact that is similar to the environment hosting the high-grade zones in the Red Lake camp, where the ultramafics act as an impermeable cap for gold-bearing fluids. Close-spaced channel samples were also collected from an additional eight areas north of Bridget Lake, and assays are pending.

"The systematic evaluation of the West Red Lake property is demonstrating that we can unlock the value in this gold district using detailed sampling and field observation. The continuity of gold grades in channel samples over several metres is particularly encouraging and emphasizes the importance of focusing on the structural interpretation in a complex terrain," says Lynda Bloom, president and chief executive officer.

Technical highlights, Bridget Lake drill program

Five diamond drill holes were completed, for a total of 788 metres. All holes were drilled at 45 degrees in a south or westerly direction. The holes are located within a relatively small area of 250 by 300 metres in the vicinity of 2007 field samples where elevated gold, copper and nickel values were reported. Elevated gold values over narrow widths were reported in holes RL08-06 and RL08-10, as listed in the table entitled, "Elevated gold values." Hole RL08-06 is in the vicinity of Area 1, where channel samples also returned favourable gold assays. Hole RL08-10 is located farther south, near areas 7 and 8, where channel samples were collected but assays have not been received. True width is not known.

           ELEVATED GOLD VALUES             

               From      To   Width    Gold
Hole ID          (m)     (m)     (m)   (g/t)

RL08-06        97.9    98.3     0.4    1.32
and           112.5   112.8     0.3    1.36
and           128.5   129.3     0.8    2.32
and           135.2   136.2     1.0    0.88
and           188.2   190.1     1.9    1.89
includes      189.8   190.1     0.3    9.84
RL08-10       175.0   182.0     7.0    0.31
includes      175.0   176.0     1.0    1.15
includes      179.0   180.0     1.0    0.97
and           190.0   191.6     1.6    0.50
includes      190.0   190.4     0.4    0.95

To view the map accompanying this release please see the company's website.

Sample handling and assaying are as reported in the technical highlights section of the company's Nov. 28, 2008, news in Stockwatch. Selected sample pulps, for samples where the presence of sulphides was reported, will be submitted for base metal assays.

Technical highlights, channel sampling

An extensive surface-trenching and channel-sampling program consisting of nine stripped areas and 757 channel samples was undertaken on the Red Lake gold project. The purpose of this program was to gain an understanding of the complex structural and lithological controls for gold mineralization in the western portion of the Red Lake gold camp. Assays within Area 1 that have been received include those results listed in the table entitled, "Assays within Area 1," which fall within the inset area on the accompanying figure, and are listed from east to west.

ASSAYS WITHIN AREA 1

                         Weighted-
Sample   Width    Gold     average    Length
No.       (m)    (g/t)   gold (g/t)     (m)

19117      1.0    5.35
19118     0.86    1.55        3.59      1.86
19119      1.1    5.04
19120      1.2    1.75
19121     0.75    4.43        3.60      3.05
19122     0.85    0.42
19123      1.0    1.16
19124     1.05    2.34
19126      1.0    3.26        1.86       3.9
19128      0.9    1.75
19129      1.0    1.34
19130      0.9    1.90        1.65       2.8
19132     0.95    2.46
19133      1.0    2.17
19134      0.8    2.40        2.34      2.75
19138      1.0    4.92
19139      1.0    1.75        3.34      2.00

Channel samples were laid out on the stripped and cleaned out crops at a nominal one-metre interval, but samples vary from 0.5 to 1.4 metres, based on changes in lithology. Samples were taken using a masonry saw with a diamond blade. Two parallel saw cuts were made approximately five to eight centimetres apart and to a depth of 10 centimetres. Samples were then chipped out using a hammer and cold chisel, with care being taken to avoid weathered material.

Samples range from one to three kilograms and were submitted to SGS Laboratories in Red Lake for gold analysis. Assaying and quality control procedures are consistent with those reported in the technical background of the the company's news reported in Stockwatch on Nov. 28, 2008.

The above information has been prepared under the supervision of Ms. Bloom (PGeo), who is designated as a qualified person with the ability and authority to verify the authenticity and validity of the data.

We seek Safe Harbor.