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Market: TSX-V
Sector: Mining
EPIC: CHU
Latest Price: 0.10  (42.86% Ascending)
52-week High: 0.36
52-week Low: 0.07
Market Cap: 11.93M
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Channel Resources
www.channelresources.ca

Channel Resources is a Canadian exploration Company advancing two primary assets: the Tanlouka Gold Project in Burkina Faso, West Africa and the Fox Creek Lithium/Potash Brine Project in Alberta, Canada.

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Channel continues to define Mankarga 5 Zone at Tanlouka gold project

6th Feb 2012, 2:32 pm by Olivia D'Orazio
Channel continues to define Mankarga 5 Zone at Tanlouka gold project

Channel Resources (CVE:SHU) said Monday that drill results from the Mankarga 5 zone at its Tanlouka gold project, located in Burkina Faso, West Africa, continues to define the zone.

The 15,441-metre drill program has now been completed throughout 71 holes on the property, and assays have been received for about 55 percent of total drilling.

Significant results from the program include hole Tan11-DD25, which intersected 58.5 metres grading 1.03 grams per tonne
(g/t) gold, including nine metres at 2.32 g/t gold, as well as six metres at 1.94 g/t gold.

Hole Tan11-DD49 intersected 35.0 metres grading 1.25 g/t gold, including 1.5 metres at 6.49 g/t gold.

The program was designed to follow-up on a 7,100-metre reverse circulation (RC) drill program completed on the northeast-trending zone a year ago, and to further expand the zone and support the deposit's initial NI 43-101 resource estimate, which is expected for release in spring of this year.

Other notable results include hole Tan11-DD24, which intersected 9.6 metres at 0.96 g/t gold, including 1.5 metres grading 3.25 g/t gold. Hole Tan 11-DD30 intersected 0.71 g/t gold over 6.7 metres, and 0.41 g/t gold over 29.6 metres, including 3.9 metres grading 0.96 g/t gold, while hole Tan11-DD31 hit 15 metres at 1.2 g/t gold, including three metres at 2.19 g/t gold.

So far, the program has delineated a mineralized zone measuring 2.35 kilometres long and up to 250 metres wide. The deposit remains open along strike and to depth.

On the TSX-Venture Exchange, Channel shares rose 5.88 percent to $0.18, as of 12:44 pm EDT.

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