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Gold/Mining/Energy : Channel Resources (CHU T)
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From: canucklehead8010/13/2011 7:17:17 PM
   of 29
 
Channel CFO Cyrus Ameli on Burkina Faso gold assays of 1.99 g/t over 70m

Channel Resources Ltd TSXV:CHU announced assays from its Tanlouka Gold Project in Burkina Faso. Results include 1.99 g/t gold over 70 metres (including 6.47 g/t over 13.5 metres), 1.1 g/t over 108 metres (including 2.32 g/t over 20 metres), 0.92 g/t over 98.7 metres (including 1.15 g/t over 30 metres), 1.2 g/t over 52.5 metres (including 5.67 g/t over 4.5 metres) and 0.77 g/t over 64.5 metres (including 1.32 g/t over 11.3 metres).

CFO Cyrus Ameli tells ResourceClips.com, “Tanlouka is actually a property that Channel has had for quite a number of years. We gradually did all the ground proofing that was necessary to delineate some drill targets on it during the market difficulties leading up to last year. Last year, we managed to raise enough money to do a very short drill program. That was enough to make our discovery at a number of different areas on the Tanlouka project, but principally on the Mankarga 5 zone, which is our main focus right now. We’ve been following that up and have been quite fortunate in being able quickly to delineate what is, right now, a 1.85-kilometre-long strike length. We haven’t yet completed any of our geological modelling on it, but we’re fairly confident that we have between a 150- and 200-metre-long width on it as well. That’s something that we’re starting to put together with this transition to the core drilling, the first results of which we put out this morning.

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