viewChannel Resources Ltd.

Channel Resources bolsters board with new appointment


Channel Resources (CVE:CHU) said Tuesday it has appointed Archibald J. Nesbitt to its board of directors.

Nesbitt has been a founding member, or senior officer and director of a number of publicly traded mining companies, and has been active in the mining industry since 1969.

He holds directorships in several public mining and oil and gas companies, including Golden Band Resources Ltd., Carmen Energy Inc., and Marksman Energy Inc.

Channel Resources is a Canadian listed mineral exploration company that has a 90 percent interest in the Tanlouka gold project in Burkina Faso, West Africa and an option to earn 100 percent in the Fox Creek lithium/potash brine project in Alberta.

At Tanlouka, Channel has recently discovered multiple mineralized zones that are now being explored and expanded through a 15,000 metre core drilling program, with a maiden resource estimate for the Mankarga 5 deposit expected in the spring of 2012.

At Fox Creek, a bulk sample of brine sourced from producing natural gas wells is undergoing process testing to find the most efficient method of producing various industrial minerals from the brine, including lithium carbonate, potash, bromine and borates.

The company said it is financed to advance both projects through their current programs.

Quick facts: Channel Resources Ltd.

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Market: TSX-V
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