UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of NOVEMBER, 2007.
Commission File Number: 0-30196
HALO RESOURCES LTD
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(Translation of registrant's name into English)
#1305 - 1090 West Georgia Street, Vancouver, British Columbia, V6E 3V7, Canada
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F: FORM 20-F [X] FORM 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): _______
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): _______
Indicate by check mark whether the registrant by furnishing the information
contained in this Form, is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
YES [ ] NO [X]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3- 2(b): 82-_____________
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf of the
undersigned, thereunto duly authorized.
HALO RESOURCES LTD.
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Date: November 22, 2007 /s/ Marc Cernovitch
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Marc Cernovitch
Chairman
HALO RESOURCES LTD.
#2900A - 25 KING STREET
YORK, ON M9N 1K8
TEL: (416) 368-7045 FAX: (416) 368-9805
TSXV SYMBOL: HLO OTCBB SYMBOL: HLOSF
FRANKFURT EXCHANGE: HRL
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HALO REPORTS NI 43-101 COMPLIANT RESOURCES ESTIMATE FOR
JUNGLE LAKE DEPOSIT, SHERRIDON, MANITOBA
TORONTO, ONTARIO, NOVEMBER 22, 2007 -- LYNDA BLOOM, PRESIDENT AND CEO OF HALO
RESOURCES LTD. (TSX:HLO; OTC.BB:HLOSF; FSE:HRL) is pleased to announce the
results of a preliminary National Instrument 43-101 compliant resource estimate
of the Jungle Lake copper-zinc deposit at its Sherridon project in Manitoba. The
Technical Report was coauthored by Scott Wilson Roscoe Postle (Scott Wilson RPA)
and Giroux Consultants Ltd. (GCL) for Halo to substantiate the historical
resource reported for the deposit. The resources estimated by GCL at Jungle Lake
have been classified as Indicated and Inferred. It is assumed that the Jungle
Lake Deposit would probably be mined by a combination of both open pit and
underground methods. The results of the resource estimate are as follows:
------------------------------- ------------------------------------------------
Grade Contained Metal
Potential Resource ------------------------------- ------------------------------------------------
Mining Method Class Tonnage Cu Zn Au Ag Cu Zn Au Ag
- ------------- --------- (t) (%) (%) (g/t) (g/t) (lb) (lb) (oz) (oz)
Open Pit Indicated 830,000 0.99 0.73 0.39 6.70 18,115,000 13,358,000 10,000 179,000
Underground Indicated 495,000 1.46 1.06 0.52 11.43 15,933,000 11,568,000 8,000 182,000
--------- ------------------------------- ------------------------------------------------
TOTAL 1,325,000 1.17 0.85 0.44 8.47 34,048,000 24,925,000 19,000 361,000
========= =============================== ================================================
Open Pit Inferred 1,347,000 0.85 0.60 0.41 6.24 25,242,000 17,818,000 18,000 270,000
Underground Inferred 830,000 1.28 0.78 0.36 10.78 23,422,000 14,273,000 10,000 288,000
--------- ------------------------------- ------------------------------------------------
TOTAL 2,177,000 1.01 0.67 0.39 7.97 48,664,000 32,090,000 27,000 558,000
========= =============================== ================================================
(1) Open pit Cut-off NSRUS$20 above the 218 m level
(2) Underground Cut-off NSR US$40 below the 218 m level.
(3) All quantities rounded to the nearest 1000
The total tonnage of 1,325,000 tonnes in the Indicated resource category has an
overall grade of 1.17% copper, 0.85% zinc and precious metal credits. The
cut-off grades were calculated on the basis of all four commodities based on the
Net Smelter Return ("NSR") assumptions included under Technical Highlights. In
addition, there are 2,177,000 tonnes in the Inferred resource category with an
overall grade of 1.10% copper, 0.67% zinc and precious metal credits.
Tom Healy, Senior Vice-President & COO of Halo says: "We consider the results of
the resource as a major milestone in the future development of the Sherridon
copper-zinc project. The resource estimate reinforces our confidence in
historical estimates that were carried out almost 50 years ago and highlights
the potential for open pit mining operations at Jungle Lake and the other known
deposits."
Halo owns or controls five known deposits (Jungle, Bob, Cold/Lost, Fidelity and
Park) within a 4 km by 4 km area. The Jungle report is the first of several
planned NI43-101 compliant resource calculations which will be used to define
sufficient Measured and Indicated resources to justify pre-feasibility studies.
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The fact that potential open pit resources have been defined at Jungle Lake
indicates that the other near-surface deposits drilled by Halo in 2007, such as
Bob Lake and Cold Lake, are also important potential contributors to the total
required tonnage. More importantly, the grades being reported for drill hole
intersections at the Bob Lake North extension (1.5% copper and 3% zinc) and for
Cold/Lost Lake (2% copper and 6% zinc) are higher than at Jungle Lake, offering
further encouragement.
Lynda Bloom, President & CEO, states "We are confident that the planned winter
drill program will further upgrade the quality of the near-surface resources at
several deposits. There are now two diamond drill rigs operating 24 hours, 7
days a week with the current drilling focused on the next two potential
production sources at the Bob Lake and Cold/Lost Lake deposits in preparation
for NI 43-101 resource estimates."
TECHNICAL HIGHLIGHTS
The data base used in the estimate consisted of 54 diamond drill holes
containing 532 down hole surveys and 1,563 samples. The mineralized massive
sulphide lens was plotted on cross sections and a three dimensional geologic
model produced based on drill hole intersects. The grade distributions for each
metal were examined and appropriate capping levels were established. Uniform 1.5
m composites were produced that honoured the massive sulphide lens boundaries. A
block model with blocks 5.0 x 5.0 x 2.0 m in dimension was superimposed on the
geologic 3D solid and the proportion of each block within the mineralized solid
recorded. An estimation of grade was made by ordinary kriging on all blocks with
some percentage within the mineralized solid. Specific gravities used in the
resource estimate utilized measurements made from 96 specific gravity
measurements from samples taken from Halo's 2007 drill holes within the
mineralized solid.
Copper, zinc silver and gold contribute to the economics of the deposit so that
a Net Smelter Return value (NSR) was calculated for each block based on the
estimated grades of copper, zinc, silver and gold, reasonable metal prices, the
estimated recoveries for each metal and common industry values for smelter
terms. The parameters used were as follows:
-------------------------------------------
Metal Price (US$) Recovery (%)
-------------------------------------------
Copper $2.00/lb 85 %
Zinc $0.75/lb 85 %
Gold $600.00/oz 47 %
Silver $8.50/oz 54 %
-------------------------------------------
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The Jungle deposit is located approximately 7 kilometers north-east of the Town
of Sherridon. Halo has the option to earn 100 percent interest in the Jungle
Lake deposit from Hudson Bay through a series of cash and share payments and
escalating work commitments as detailed in the option agreement.
The resource estimate reported in this press release was produced by Gary
Giroux, P.Eng. MASc. a Qualified Person as defined by NI-43-101 who is
responsible for the technical material contained in this news release. As
required by NI 43-101 regulations, the resource estimate report will be filed on
SEDAR in its entirety within 45 days following the date of this press release.
ABOUT THE SHERRIDON VMS PROPERTY
The Sherridon VMS Property covers an area of over 20,876 hectares and hosts the
past-producing Sherridon Mine that was operated by Sherritt Gordon Mines from
1933 to 1950 and produced 7.7 million tonnes of ore grading 2.46%copper and 0.8%
zinc. Results from an airborne geophysical survey completed in the summer of
2006 identified an additional 122 targets. The property is located only 70 km
northeast of the mining and metallurgical complex in Flin Flon operated by
HudBay Minerals Inc. (TSX:HBM). Future development of the property is
facilitated by the presence of an all-weather road and railroad access as well
as a power line and communications tower.
For further information, please contact:
Lynda Bloom, President & CEO or Marc Cernovitch, Chairman
Halo Resources Ltd.
Tel: 416-368-7045 Fax: 416-368-9805
Toll Free: 1-866-841-0068
lbloom@halores.com
ABOUT HALO RESOURCES LTD.
Halo is a Canadian-based resource company focused on the acquisition of near
production base and precious base metal deposits. Currently the Company owns or
has an interest in 3 projects: Duport, which is an advanced stage gold project;
Red Lake, which is a gold exploration project, and the Sherridon project that is
a combination of mature and grassroots volcanogenic massive sulphide (VMS)
copper, zinc and gold exploration opportunities. The Company is operated by an
experienced management team and backed by a strong network of mining financiers.
The Company's growth strategy is to develop a diversified portfolio of advanced
mining projects.
The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release. This news release presents "forward looking
information" within the meaning of the applicable Canadian securities laws that
involve inherent risks and uncertainties. Forward-looking information includes,
but is not limited to, information with respect to the proposed private
placement. Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity,
performance or achievements of Halo to be materially different from those
expressed or implied by such forward-looking information, including but not
limited to: risks related to financings; risks related to the integration of
acquisitions; risks related to joint venture operations; actual results of
current exploration activities; actual results of current or future reclamation
activities; conclusions of economic evaluations; changes in project parameters
as plans continue to be refined; future prices of gold and other minerals and
metals; possible variations in ore reserves, grade or recovery rates; failure of
equipment or processes to operate as anticipated; accidents, labour disputes and
other risks of the mining industry; and delays in obtaining governmental
approvals or financing or in the completion of development or construction
activities. Although the management and officers of Halo Resources Ltd. believe
that the expectations reflected in such forward-looking information are based
upon reasonable assumptions and have attempted to identify important factors
that could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking information Halo does
not undertake to update any forward-looking information referenced herein,
except in accordance with applicable securities laws. Trading in the securities
of Halo Resources Ltd. should be considered highly speculative.
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