CHU Channel Resources Ltd.

Channel Resources Ltd. (TSX VENTURE:CHU) -



--  Multiple mineralized structures indicated within a six square kilometre
    prospective envelope 
--  Gold anomalies coincident with magnetic features 
--  Rock grab samples up to 35.1 grams gold per tonne ("g/t Au") collected
    from artisanal workings within the anomalous structures 
--  Soil anomalies encompass an area approximately twice the size of the
    Mankarga 5 Deposit 
--  Illustrative maps and photos available at
    www.channelresources.ca/i/pdf/112112nrmaps.pdf 



Channel Resources Ltd. ("Channel" or the "Company") is pleased to report that a
soil sampling survey at the Tanwaka exploration target on the Tanlouka Gold
Project has outlined major new gold anomalies that, together with other
exploration activities undertaken to-date, shows signatures that are
approximately twice the size of those that led to the discovery of the Mankarga
5 deposit for which the Company has recently announced a first resource
estimate. 


The Tanwaka zone is located approximately ten kilometres north of the Mankarga
Zone along a 12 kilometre long anomalous trend. A soil-sampling program was
conducted on a nine square kilometre grid with lines 100 metres apart and 25
metre sample intervals. A total of 4,280 samples, including check samples, were
analyzed for gold. 


Tanwaka Soil Anomalies Established Over Six Square Kilometre Prospective Area

Map 1: Identified structures labeled on gold-in-soil contours

Map 2: Identified structures on high resolution magnetic gradients

Map 3: Rock samples (grabs) and artisanal workings with identified structures

www.channelresources.ca/i/pdf/112112nrmaps.pdf

An oval shaped central area of six square kilometres, measuring approximately 3
kilometres in a NNE direction and 2 kilometres in an EW direction, has been
identified in the central/east portion of the grid with background gold-in-soils
concentration of 10 ppb. Within this area are numerous zones encompassed by the
50 ppb gold contour, most of which are focused in two "corridors" labeled C1 and
C2 and in three areas labeled M1, M2 and M3 (Map 1). Peak gold values within
each of these areas are 1300 ppb in C1, 1815 ppb in C2, 2220 ppb in M1, 641 ppb
in M2, and 1145 ppb in M3. (n.b.: 1000 ppb = 1 g/t Au).


Corridor C1 is a 400 metre-wide structural feature clearly identified on
magnetic gradient maps (Map 2) and hosts numerous NNW trending gold anomalies
with over 1,600 metres of strike length. C2 is a 250 metre wide feature that is
also identifiable on magnetic gradient maps and contains numerous NS trending
gold anomalies along a strike length of 1,300 metres. Quartz veins within both
C1 and C2 corridors have the same orientation as the contoured gold anomalies
within each corridor. The orientation of the contoured gold trends within C1 and
C2 is similar to that of subsidiary structures contained within the bounding
faults of a classic shear zone system. Grab samples taken from quartz vein
material at artisanal mining sites within C1 and C2 returned gold values up to
3.06 g/t Au (Map3) (Cautionary Note: grab sample results are indicative only and
do not represent average grades). 


The highest concentration of gold anomalies in the area can be found where the
NW trending C1 and NE trending C2 corridors intersect. In this area (area 'A' on
Map 3) artisanal miners are exploiting multiple mineralized quartz veins that
are hosted by granodiorite and diorite to the west and mafic schist to the east,
indicating that an intrusive margin is also present. In this junction area there
is a prospective EW trending rectangular block measuring 800 metres X 300 metres
with gold in soil values exceeding 50 ppb Au and with a maximum of 1300 ppb Au. 


Gold-in-soil anomalies labeled M1, M2 and M3 coincide clearly with magnetic
highs (Map 2). Within the M1 anomaly, mineralized quartz veins found in
artisanal workings (B, C, D and E on Map 3) have a roughly NE orientation
parallel to the magnetic trend. Grab samples of quartz vein material hosted in
granodiorite from these sites returned values ranging up to 35.1 g/t Au (Map 3).



A NW trending placer gold deposit being worked by artisanal miners (area F on
Map 3) features a drainage approximately 800 metres long where sands and gravels
are being washed to recover gold. The pay zones are in the order of 0.30 to 0.75
metres thick and are buried under approximately 2 metres of recent sediments.
Sampling of these gravels returned values ranging from 0.08 g/t Au to 2.45 g/t
Au in material that contained significant quartz vein debris. This seasonally
dry alluvial channel is downstream of the area covered by the anomalous C1 zone
located to the east and south of the placer deposit.


Gold Anomalies at Tanwaka Encompass Twice the Area of Mankarga 5

Map 4: Mankarga 5 gold-in-soil structure relative to drilled structures

www.channelresources.ca/i/pdf/112112nrmaps.pdf

A soil sampling survey was carried out on the Mankarga 5 area in 2011 on a 20
metre by 50 metre grid in order to test the effectiveness of the soil sampling
methods and for evidence of mineralized footwall structures in the deposit. This
survey, which covered approximately 66% of the strike length of Mankarga 5,
clearly identified the mineralized shear zone (Map 4). The 50 ppb Au contour
proved to be particularly important in identifying the surface outline of
individual mineralized structures as later defined through drilling and used in
the NI43-101 Resource Estimate published in July 2012. Assuming a consistent
relationship between mineralized structure and soil anomalies for the full
length of the Mankarga 5 deposit, the area encompassed by the 50 ppb Au contour
at Tanwaka is approximately twice the size of that at Mankarga 5. 


Roadmap to Discovery at Tanwaka

"The Tanwaka soil grid has generated gold-in-soil anomalies that have a strength
and a continuity that are very compelling," commented Colin McAleenan, Channel's
President and CEO. "These soil anomalies align themselves very well with bedrock
structures identified on our high-resolution magnetic gradient map with at least
two mineralization settings suggested. With the benefit of the experience gained
from our successful exploration programs at Mankarga 5 we believe that these
structures at Tanwaka represent exciting drill targets and potential to add to
the initial resource identified at Mankarga 5. Channel will immediately follow
up on these successful results at Tanwaka by trenching segments of identified
structures and outlining specific drill targets."


Experienced personnel employed by Channel Resources Ltd. and its Burkina Faso
subsidiary conducted the soil sampling activities described herein. Garmin GPS
units pre-programmed with sample location UTM coordinates were used to locate
sample points in the field. Two to three kilograms of sample material were
systematically taken at a depth of 50 cm. No samples were taken in areas of
transported material (dried river beds, artisanal spoil heaps etc.). Samples
were bagged and returned to company facilities in Mogtedo where standards and
sample duplicates were inserted. Samples were submitted for analysis at ACTLABS
- Burkina Faso SARL and at Abilab Burkina SARL (ALS Laboratory Group) in
Ouagadougou, Burkina Faso. The soil sampling program was supervised by John
Adams P.Geo., a qualified person as defined by NI 43-101, who has reviewed the
contents of the news release. 


Some of the statements contained herein are forward-looking statements involving
known and unknown risks and uncertainties. Without limitation, statements
regarding potential mineralization and resources, exploration results, and
future plans and objectives of the Company are forward looking statements that
involve various degrees of risk. The following are important factors that could
cause the Company's actual results to differ materially from those expressed or
implied by such forward looking statements: changes in the price of minerals,
general market conditions, risks inherent in mineral exploration, risks
associated with development, construction and mining operations, the uncertainty
of future profitability and the uncertainty of access to additional capital. The
Company undertakes no obligation to update publicly or otherwise revise any
forward-looking statements or the foregoing list of factors, whether as a result
of new information or future events or otherwise. Further disclosure on risk
factors is available in the Company's various corporate filings at
www.sedar.com.



FOR FURTHER INFORMATION PLEASE CONTACT: 
Channel Resources Ltd.
Colin McAleenan
President & CEO
604.684.7098


Channel Resources Ltd.
Cyrus Ameli
Senior VP
604.684.7098
604.684.7079 (FAX)
info@channelresources.ca
www.channelresources.ca

Channel Resources Ltd. (TSXV:CHU)
過去 株価チャート
から 5 2024 まで 6 2024

Channel Resources Ltd. (TSXV:CHU)
過去 株価チャート
から 6 2023 まで 6 2024