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Wednesday, 21 November 2012
Channel Resources outlines new exploration targets on Burkina Faso's Tanlouka Project
Channel Resources Ltd. (CVE:CHU) Wednesday outlined major new gold anomalies at the Tanwaka exploration target on its Tanlouka Gold Project in Burkina Faso.
The company said that a a soil sampling survey showed signatures that are approximately twice the size of those that led to the discovery of the Mankarga 5 deposit.
Tanwaka is located approximately 10 km north of the Mankarga Zone along a 12 km-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.
"The Tanwaka soil grid has generated gold-in-soil anomalies that have a strength and a continuity that are very compelling," Channel's president and CEO Colin McAleenan said.
"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."
An oval-shaped central area of six square kilometres, measuring approximately 3 km in a NNE direction and 2 km in an EW direction, has been identified in the central/east portion of the grid with background gold-in-soils concentration of 10 parts per billion.
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, 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 by 300 metres with gold in soil values exceeding 50 parts per billion gold and with a maximum of 1,300 parts per billion gold.
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 per cent of the strike length of Mankarga 5, clearly identified the mineralized shear zone.
The 50 parts per billion gold contour proved to be particularly important in identifying the surface outline of individual mineralized structures as later defined through drilling and used in the NI 43-101 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 parts per billion gold contour at Tanwaka is approximately twice the size of that at Mankarga 5.