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Channel Resources hits 2.12 g/t gold over 72 metres at Mankarga 5 deposit, Burkina Faso

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Channel Resources (CVE:CHU) Monday reported additional assay results from its 15,000 metre drilling program on the Mankarga 5 gold deposit at its Tanlouka gold project in Burkina Faso, West Africa.

Most of the results are from infill holes along nominal 100 metre spaced lines and are targeting extensions of previously encountered mineralized structures.

Highlighted intersections from this set of results include holes Tan12-DD67 and Tan12-DD68, both drilled on section 600SW and collared approximately 50 metres apart.

With Tan12-DD67 undercutting Tan12-DD68, these holes intersected the main mineralized structure at 125 metres vertical depth - 72 metres of 2.12 g/t gold in hole Tan12-DD67 - and 75 metres vertical depth - 66 metres of 1.18 grams per tonne (g/t) gold in hole Tan12-DD68, respectively.

The main mineralized zone on this section is believed to extend from surface to a minimum 150 metres vertical depth.

Meanwhile, results from sections 900SW to 1500SW may indicate that the Mankarga 5 structure could be turning to take on a more westerly orientation, the company said.

Future drill programs will test this theory, following on trends established by regional gold-in-soil anomalies, and a possible link to the Mankarga 1 target, where previous reverse circulation drilling encountered high grade mineralization including intersections of 3.09 g/t gold over 38 metres in Tan10-RC10 and 21.25 g/t gold in Tan10-RC12 over 12 metres.

Hole Tan12-DD62, collared on section 1300NE and to the northwest of the main drilled trend, encountered numerous mineralized intersections from surface to 219.5 metres down-hole, the best being 1.77 g/t gold over 18 metres, including 12.17 g/t gold over 1.5 metres.

Future surface trenching and drilling programs will investigate this possible northeastward extension of the Mankarga 5 deposit, where geophysical interpretations indicate potential for a further 500 metres of strike length, the company said.

The drilling program has so far delineated a mineralized zone that is over two kilometres long and up to 300 metres wide on the northeast-trending Mankarga 5 structure.

The main objectives of this program have been to provide a geological and structural context for the deposit, to further expand the zone and to support the deposit's maiden resource estimate, which is expected later in the spring of 2012.

The deposit remains open along strike and to-depth, with mineralization encountered to a vertical depth of approximately 200 metres in the current program.

Further details can be found at http://www.channelresources.ca

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