Channel Resources (CVE:CHU) Wednesday reported final assay results from its recent drilling program on the Mankarga 5 gold deposit, part of the Tanlouka project in Burkina Faso, West Africa.
Results from the core drilling program,
completed in February of 2012, include over 15,400 metres in 71 holes,
all of which have now been reported.
The latest results,
together with those of 58 reverse circulation (RC) holes for 7,096
metres drilled previously at Mankarga 5 will form the basis of a maiden
resource estimate currently being prepared by AMEC Americas Ltd.
most recent results are from infill holes along nominal 100 metre
spaced lines targeting previously intersected mineralized structures.
Highlighted results include holes Tan11-DD39 and Tan12-DD41, Channel
Hole DD39 intersected 37.5 metres of 1.38 grams per tonne
(g/t) gold and hole DD41 intersected 25.5 metres of 1.47 g/t gold. Hole
DD50 intersected 28.5 metres at 1.21 g/t gold.
Last month, the
company noted that other drill hole intersections, including those on
sections 1200SW, 700SW, 400SW, 100SW, 100NE and 750NE, have widths and
grades largely in line with expectations for these parts of the deposit.
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 goals of the program were to
provide a geological and structural context for the deposit, to further
expand the zone, and to support the deposit's maiden resource estimate.
Mankarga 5 deposit remains open along strike and to-depth, with
mineralization found to a maximum vertical depth of around 260 metres in
the current program.
Channel said its activities at the Tanlouka
gold project are focused on both advancing the Mankarga 5 deposit as
quickly as possible through to feasibility and development, and
demonstrating the exploration potential of the Mankarga 5 deposit and
the remainder of the permit.
The company expects to report on
numerous work programs in the near future, including metallurgical
testing on oxidized and non-oxidized samples from the Mankarga 5
With 2,000 metres of core drilling recently completed in
the area of the Mankarga 1 target, Channel said it intends to follow up
on previous high-grade discovery holes drilled in 2010, and also to
investigate possible mineralized continuity between Mankarga 5 and
The company noted that soil sampling programs are
underway on the Manesse and Tanawaka target areas to the north of the
Mankarga Zone on the 79-square-kilometre Tanlouka permit.
drill programs and other exploration activities are being planned for
Mankarga 5 and other targets on the Tanlouka project based on the
results of current programs and will be announced as the news becomes
The mineral explorer also said at the end of April
that it has earned its 100 per cent stake in the Fox Creek mineral brine
project, in Alberta.