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Halo Resources Ltd. Website:
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Exchange: TSX
Venture
Market Cap:
16.64 Million
Outstanding Shares:
20.8 Million
52 Low / High : $
0.60 / $ 1.59
Price August 5, 2005
$ 0.80
HLO Recent Stock
Quote and News:
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Information As
Of August 5, 2005 |
"To further diversify
the Company's portfolio of advanced projects and further
increase shareholder value the company is carrying out an
on-going program of property identification, examination and
acquisition."
Overview
Halo Resources Ltd is a Canadian based mineral
company engaged in the acquisition of near production precious
and base metal deposits. The company's initial acquisition and
primary project is the Duport Gold Property located near
Kenora, Ontario. The Duport Property hosts a well-defined gold
deposit with exceptional exploration upside. Increasing known
reserves through further drilling and advancing the Duport
Gold Property towards commercial production are key
objectives. Halo is operated by an experienced management team
and backed by a strong network of resource exploration and
mining financiers. To further diversify the Company's
portfolio of advanced projects and further increase
shareholder value the company is carrying out an on-going
program of property identification, examination and
acquisition
Investment Highlights
- Significant assays at Bachelor Lake: drill intercepts
include 22.30 g/t gold over 1.60 meters. Main zone has
been substantially extended and remains open at depth and
along strike. New assay results from the 13,200 meter
underground drilling program were returned from the Main,
A and B mineralized zones (deep extension below level 12).
Highlights from drill intercepts included 22.30 g/t Au
over 1.60 meters, 10.50 g/t Au over 3.48 m and 11.69 g/t
Au over 3.60 m. Recent drilling suggests that the
horizontal and vertical components of the main zone have
been substantially extended, and remain open at depth and
along strike to the west. At Bachelor Lake, NI 43-101
compliant resource estimates stand at 421,000 tonnes of
ore averaging approximately 8.9 Grams per ton.
- Halo is engaged in the acquisition of advanced stage,
near production precious and base metal deposits. The
Company acquires properties that have proven resources,
host mineral rich zones and are in areas that are known
for successful gold exploration and project development.
Business Strategy
Halo's business strategy is to identify and acquire near
production properties with known deposits. In addition,
properties targeted for future acquisition will contain
favorable geology for the expansion of reserves based on
limited historical exploration. Going forward, the company
plans to joint venture its properties with larger mining
firms when the appropriate milestones have been met.
Environmental Policy
Management believes in protecting the environment and
promotes prudent environmental stewardship. Management is
committed to working with local communities to address
environmental issues in a proactive and socially responsible
manner.
Properties
Duport Gold Property Overview
Comprising 67 mineral claims occupying 3,012 acres, the
Duport Gold Property is located at Shoal Lake some 20 km
south of the Trans-Canada highway, just east of the
Manitoba/Ontario Provincial boundary. Shoal Lake is near the
Lake of the Woods area, some 40 km southwest of the town of
Kenora.
The region has a long tradition of gold mining. The Lake
of the Woods area was the scene of Canada's first gold rush
dating back to 1850, and between 1890 to 1910 the area
accounted for over 55% of Ontario's gold production.
Work on the Duport property was first recorded in 1897
and has continued intermittently since that time. Three
separate mineralized zones have been identified within the
Duport property: the "Main Zone", the "East Zone" and the
"Northern Hanging Wall Zone" (a northern extension of the
Main Zone)
The underground drilling program at Duport involved 157
holes for a total of 45,100 ft, and covered a strike length
of 1,700 ft. Analysis of the data indicates a fairly steep
plunge of the Main Zone to the north, with continuity
established to a depth of 1,600 ft. A total of 162
intersections with grades and widths exceeding cut-off
limits were obtained. Individual intercepts ranged up to 1.0
oz au/ton (cut) over 23.0 ft, with a weighted average of
0.46 oz au/ton over 5.1 ft for all intersections.
The Bachelor Lake Property Overview
Halo Resources Ltd. has signed a Heads of Agreement
Wolfden Resources Inc. whereby Halo will be granted the
option to acquire a 50% interest in the Bachelor Lake
Property, owned by Metanor Resources Inc., located of
Québec. The Bachelor Lake Property, which is located in
Lesueur Township of the Abitibi region of Quebec, is
comprised of 50 mining claims and two mining concessions
covering a total area of 1,840 hectares. The Bachelor Lake
Property contains infrastructure to support production - an
office, a shop, a dry, a compressor room, a headframe, and a
500 ton per day mill with a cyanidation plant and crusher
room and the following non NI 43-101 compliant gold resource
estimate (see NI 43-101 disclaimer):
The Quarter Moon Lake Gold property Overview
The measured and indicated resources at Bachelor Lake
amount to 421 139 st @ 0,287 oz/t Au. (Main vein: 315 109 st
@ 0,273 oz/t Au; B vein: 78,913 st @ 0.339 oz/t Au; A vein:
27 117 st @ 0,288 oz/t Au). The inferred resources amount to
256 285 st @ 0,304 oz/t Au. (Main vein: 184 295 st @ 0,284
oz/t Au; B vein: 71 990 st @ 0,354 oz/t Au).
The property comprises 5 mining claims covering a total
of 1072 hectares. It is located in north-central Manitoba,
75 km northeast of Flin Flon and 61 km northwest of Snow
Lake.
The Quarter Moon Lake Gold property includes the recently
discovered Emily gold showing. The Emily gold showing
comprises gold mineralization in leucogabbro, associated
with disseminated pyrrhotite and arsenopyrite in upper
amphibolite facies, deformed gneisses of the Early
Proterozoic Kisseynew gneiss belt. The zone of gold bearing
sulphide mineralization is exposed intermittently over a
strike length of 29 metres. In 2004 the showing was opened
by blasting in three places and grab samples from the blast
pits returned values from a few ppb to 29 g/t gold.
EL's ground magnetic, lithogeochemical and soil
geochemical surveys suggest that the north striking and east
dipping zone is open along strike and down dip. EL
discovered the zone in 2002 when searching for the sources
of extensive gold anomalies in lake sediments along the
important Loonhead Lake-Snow Lake fault system. This
regional fault system is closely associated with several
gold deposits and showings (New Britannia/Noracme, Puffy
Lake, Nokomis Lake, Evans Lake, Wood Lake).
A 1600 metre program of diamond drilling is planned to
test the Emily showing in the winter and early spring of
2005. A program of detailed mapping and soil sampling is
planned for the summer of 2005 to evaluate covered portions
of the potentially mineralized Loonhead Lake fault system on
the Quarter Moon Lake property.
Recent News and Press Releases
Management Team
Marc Cernovitch, President & CEO
Educated at McGill University, in Economics.
He started his career in the financial sector as a stockbroker
and has lived and worked in Montreal, Calgary, Vancouver and
most recently, New York. Since leaving the brokerage industry,
Marc has focused on corporate development, funding and
building companies primarily in the resource and energy
technology fields. He has a strong background in corporate
governance, finance, as well as all other aspects of business
development.
Tom H.A. Healy, Senior VP & COO
Mr. Healy is a professional mining engineer,
is a graduate of the University of Melbourne and holds a post
graduate degree from the Royal School of Mines. He has 30
years' of open pit and underground mine design, operations,
and management experience for base and precious metals, coal,
oil sands, diamonds and industrial minerals projects. He has
an in-depth understanding of the minerals industry, gained
from a blend of operating, consulting and EPCM experience. Mr.
Healy is also President of Kamcot International Ltd., an
independent company providing management and engineering
services to the international mining community.
Ewan Downie, Director
Mr. Downie is the president and chief
executive officer of Wolfden Resources Inc., a Toronto Stock
Exchange traded company and chairman of Sabina Resources Inc.,
a TSX Venture Exchange traded company . Since 1989, Mr. Downie
has been the owner of Vytyl Exploration Services, a
contracting business in mineral development and exploration
for a wide variety of major and junior mining companies.
Wolfden recently received the 2003 Bill Dennis Prospector of
the Year Award for its success in exploration, having made
several significant mineral discoveries in 2003. Wolfden and
Sabina combined raised more than $50-million.
Nick DeMare, CFO & Chairman of the Board
Mr. DeMare holds a Bachelor of Commerce degree
from the University of British Columbia and is a member in
good standing of the Institute of Chartered Accountants of
British Columbia. Since May, 1991, Mr. DeMare has been the
President of Chase Management Ltd., a private company which
provides a broad range of administrative, management and
financial services to private and public companies engaged in
mineral exploration and development, gold and silver
production, oil and gas exploration and production and venture
capital.
Contacts
Halo Resources Ltd.
Suite 1280
625 Howe Street
Vancouver, BC
Canada V6C 2T6
Telephone: 604-484-0068
Fax: 604-484-0069
Toll Free: 1-866-841-0068
SEDAR Filings
HLO filings with Sedar can be found
here. All
Fillings are current and the Company is fully reporting.
FORWARD LOOKING
STATEMENTS
This report includes forward-looking
statements that reflect Halo Resources Ltd. current
expectations about its future results, performance, prospects
and opportunities. Halo Resources Ltd. has tried to identify
these forward-looking statements by using words and phrases
such as "may," "will," "expects," "anticipates," "believes,"
"intends," "estimates," "plan," "should," "typical,"
"preliminary," "we are confident" or similar expressions.
These forward-looking statements are based on information
currently available and are subject to a number of risks,
uncertainties and other factors that could cause Halo
Resources Ltd. 's actual results, performance, prospects or
opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements. These risks,
uncertainties and other factors include, without limitation,
the Company's growth expectations and ongoing funding
requirements, and specifically, the Company's growth prospects
with scalable customers, and those outlined above. Other risks
include the Company's limited operating history, the Company's
history of operating losses, consumers' acceptance, the
Company's use of licensed technologies, risk of increased
competition, the potential need for additional financing, the
terms and conditions of any financing that is consummated, the
limited trading market for the Company's securities, the
possible volatility of the Company's stock price, the
concentration of ownership, and the potential fluctuation in
the Company's operating results.
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site and other publicly available sources deemed reliable. For
more information see our disclaimer section, a link of which
can be found on our web site. This document contains
forward-looking statements, particularly as related to the
business plans of the Company, within the meaning of Section
27A of the Securities Act of 1933 and Sections 21E of the
Securities Exchange Act of 1934, and are subject to the safe
harbor created by these sections. Actual results may differ
materially from the Company's expectations and estimates. This
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