viewChannel Resources Ltd.

Channel expands Mankarga 5 Zone on Tanlouka project


Channel Resources (CVE:CHU) said Wednesday that positive drill results have expanded the Mankarga 5 Zone on its Tanlouka gold project in Burkina Faso.

The results are from the company's ongoing 15,000-metre definition drill program on the property, designed to follow up on a reverse circulation drill program completed earlier last year.

Channel had previously extended the deposit by 500 metres along strike, for a total deposit strike length of 2,350 metres.

Among the latest results, hole Tan11-DD53, which was collared to the northwest of the first hole drilled on section 1300SW, intersected 10.3 metres grading 0.52 grams per tonne (g/t) gold and 6.7 metres at 0.38 g/t gold.

Holes Tan11-DD55 and Tan11-DD26 were drilled to extend the Mankarga 5 Zone further and to establish the continuity between sections 800SW and 1300SW. Though a narrow zone of low-grade mineralization was intersected in Tan 11-DD55, neither hole hit the main mineralized zone, Channel said.

It is currently awaiting the results of two follow-up holes on the sections.

Meanwhile, results from hole Tan11-DD28, drilled on section 450NE, include 26.1 metres at 0.74 g/t gold, 1.37 g/t gold over 18.0 metres, and 45.0 metres grading 0.68 g/t gold.

Taken together, these results expand the horizontal width of the Mankarga 5 Zone to about 270 metres, Channel said.

Tan11-DD33, which was drilled on section 650NE, intersected 1.9 g/t gold over 27.0 metres. Along with eight previously reported holes that were drilled on the same section, this hole has confirmed the approximate 200-metre horizontal width of the zone.

To date, 87 percent of the company's drill program on the Mankarga 5 Zone has been completed - that is, 60 holes covering 13,000 metres.

The drilling of the last 2,000 metres in the program is expected to be completed this month, targeting the northeast and southwest ends of the  Mankarga 5 Zone, which appears to remain open to the northeast, the southwest, and to-depth, the company added.

On the TSX-Venture Exchange, Channel shares rose 5.88 percent to $0.18, as of 2:43 pm EDT.

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