Channel Resources Reports Metallic Screen Assay Results From Tanlouka Gold Project, Burkina Faso
08 April 2011 - 2:49AM
Marketwired
Channel Resources Ltd. ("Channel" or the "Company") (TSX VENTURE:
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.
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.
Appendix 1
----------
Mankarga 1
TAN11-RC12
--------------------------------------------------
Standard Fire Metallic Screen
Assay Analysis
Sample # (g/t Au) (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
--------------------------------------------------
Standard Fire Metallic Screen
Assay Analysis
Sample # (g/t Au) (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
--------------------------------------------------
Standard Fire Metallic Screen
Assay Analysis
Sample # (g/t Au) (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
--------------------------------------------------
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.
Contacts: Channel Resources Ltd. Colin McAleenan President &
CEO 604.684.7098 Channel Resources Ltd. Cyrus Ameli CFO & VP
Corporate Affairs 604.684.7098 604.684.7079 (FAX)
info@channelresources.ca www.channelresources.ca
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