🕐07.04.11 - 19:00 Uhr
Channel Resources Reports Metallic Screen Assay Results From Tanlouka Gold Project, Burkina Faso
April 7, 2011
CHANNEL RESOURCES
NEWS RELEASE
CHANNEL RESOURCES REPORTS METALLIC SCREEN ASSAY RESULTS FROM
TANLOUKA GOLD PROJECT, BURKINA FASO
Vancouver, BC - Channel Resources Ltd.
(“Channel” or the
“Company”, TSX.V:CHU) is pleased to report on the results of metallic
screen assays that were performed on selected intersections from
previously reported drill holes in the Mankarga Zone of the Tanlouka Gold
Project.
These results confirm the presence of coarse gold in both
Mankarga 1 and Mankarga 5 target areas, demonstrating the need for
adjustments in sample analysis methods in future drill programs.
A total of 78 samples from three holes in the Mankarga Zone were
re-submitted to Abilab Burkina SARL (ALS Laboratory Group) in Ouagadougou.
The metallic screen method separates 1000 grams of the final prepared pulp
over a 100-micron dry screen.
Coarse (+100 micron) and fine (-100 micron)
fractions are then analyzed separately using standard fire assay
procedures and the weighted average grade is then computed.
This sampling
method more accurately assesses gold grades in rock types where coarse
gold is present that would not necessarily be represented in the standard
fire assay method.
Mankarga 1
Forty six samples (each representing a two-metre sample interval) were
re-assayed from Tan10-RC12 and Tan 10-RC13 in the Mankarga 1 target area.
The results from Tan10-RC12 show an average 50% increase in the metallic
screen assays over those from standard fire assays for the 20 samples
tested.
An average increase of 10% was similarly indicated for the 26
samples tested from hole Tan10-RC13.
Of the total forty six samples, 38 samples from Mankarga 1 which graded
lower than 1 gram per tonne gold (g/t Au) in the original fire assays
showed an average 13% increase in grade and the remaining 8 samples,
grading over 1 g/t Au, showed an average 18% increase in grade in the
metallic screen assays.
Please refer to Appendix 1 for a comparison of
each sample analysis.
Mankarga 5
Thirty two samples were re-assayed from Tan10-RC21 in the Mankarga 5
target area and showed an average 10% overall increase in grade using the
metallic screen assay method over the standard fire assay method.
Twenty
seven of these samples with a grade lower than 1 g/t Au showed an average
increase of 6% in the metallic screen versus standard fire assay methods,
while five samples that grade over 1 g/t Au showed a 27% increase in grade
using the metallic screen method.
Please refer to Appendix 1 for a
comparison of each sample analysis.
Detailed methodology used ALS Chemex for Metallic Screen Analysis:
Sample Decomposition: Fire Assay Fusion (FA-FUS05)
Analytical Method: Gravimetric
The sample pulp is passed through a 100 micron (Tyler 150 mesh) stainless
steel screen.
Any material remaining on the screen (+) 100 microns is
retained and analyzed in its entirety by fire assay with gravimetric
finish and reported as the Au (+) fraction.
The material passing through
the screen ( ) 100 micron fraction) is homogenized and two sub-samples
(50g) are analyzed by fire assay with AAS finish (Au AA26 and Au AA26D).
The average of the two AAS results is taken and reported as the Au (-)
fraction result.
All three values are used in calculating the combined
gold content of the plus and minus fractions.
The gold values for both
the (+) 100 and (-) 100 micron fractions are reported together with the
weight of each fraction as well as the calculated total gold content of
the sample.
For further information:
Colin McAleenan, President and CEO
Cyrus Ameli, CFO and VP Corporate Affairs
Telephone 604.684.7098
www.channelresources.ca
Channel Resources Ltd.
is a Canadian TSX.V listed mineral exploration
Company which has an option to earn a 90% interest in the Tanlouka Gold
Project in Burkina Faso, West Africa, the terms of which the Company has
already satisfied, and an option to earn 100% 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 10,000 metre reverse circulation drilling program.
At
Fox Creek, a bulk sample of brine sourced from producing natural gas wells
is undergoing process testing to determine the most efficient method of
producing various industrial minerals from the brine, including lithium
carbonate, potash, bromine and borates.
The Company is financed to advance
both projects through their current programs, and is actively searching for
additional opportunities to expand its project portfolio.
Some of the statements contained herein are forward-looking statements
which involve 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Appendix 1
Mankarga 1
TAN11-RC12
Sample #
Standard Fire Assay (g/t Au)
Metallic Screen Analysis (g/t Au)
1032
0.01
0.01
1033
38.2
50.2
1034
34.7
37.8
1035
51.2
92.5
1036
3.00
2.83
1037
0.08
0.12
1041
0.01
0.01
1042
0.08
0.01
1043
0.01
0.01
1044
0.20
0.18
1045
0.01
0.05
1046
0.02
0.07
1047
0.01
0.11
1051
0.02
0.01
1052
0.02
0.11
1053
0.01
0.11
1054
3.09
3.35
1055
0.07
0.05
1056
0.16
0.06
1057
0.12
0.07
Mankarga 1
TAN11-RC13
Sample #
Standard Fire Assay (g/t Au)
Metallic Screen Analysis (g/t Au)
1135
0.37
0.88
1136
0.55
0.89
1137
0.05
0.23
1141
0.01
0.01
1142
0.03
0.33
1143
0.01
0.01
1144
0.01
0.01
1145
2.65
2.80
1146
0.01
0.00
1147
0.68
0.32
1148
0.11
0.11
1149
0.09
0.06
1150
0.20
0.19
1151
0.30
0.26
1152
0.35
0.28
1153
0.25
0.16
1154
0.01
0.01
1155
0.18
0.16
1156
1.56
1.98
1157
2.59
2.23
1161
0.24
0.30
1162
0.10
0.11
1163
0.14
0.17
1164
0.06
0.07
1165
0.09
0.08
1166
0.07
0.05
Mankarga 5
TAN11-RC21
Sample #
Standard Fire Assay (g/t Au)
Metallic Screen Analysis (g/t Au)
B0061
0.24
0.20
B0062
0.17
0.15
B0063
0.47
0.33
B0064
0.47
0.67
B0065
0.50
0.51
B0066
0.43
0.46
B0067
0.46
0.45
B0068
0.31
0.41
B0069
0.73
0.79
B0070
0.05
0.05
B0071
0.02
0.01
B0072
0.03
0.01
B0073
0.32
0.42
B0074
0.51
0.65
B0075
0.05
0.05
B0076
0.11
0.13
B0077
0.25
0.26
B0081
0.70
0.68
B0082
0.72
0.79
B0083
0.96
1.12
B0084
2.21
2.53
B0085
0.26
0.35
B0086
0.38
0.23
B0087
1.12
1.77
B0088
2.32
2.73
B0089
2.85
3.41
B0090
0.67
0.41
B0091
0.71
0.41
B0092
0.45
0.49
B0093
0.41
0.01
B0094
0.69
0.30
B0095
0.23
1.04
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