• 83.5 metres grading 0.94 grams gold / tonne (“g/t Au”) including 40 metres grading 1.37 g/t Au and 10 metres grading 3.11 g/t Au
• 48 metres grading 1.17 g/t Au including 26 metres grading 1.98 g/t Au

Channel Resources Ltd. reported on partial drilling results from a Phase I Reverse Circulation (“RC”) drilling program on the Tanlouka Gold Project in Burkina Faso, West Africa.  This is the first drilling program to be conducted on the project apart from a historical, shallow RAB program and results indicate that a significant gold discovery has been made.

Exploration at Tanlouka has been focused on the Mankarga Zone (“Mankarga”), a five square kilometer area in the south end of the 105 square kilometer permit on which Channel has conducted semi-detailed soil sampling, induced polarization (IP) / resistivity and ground magnetic surveys.  Initial drilling has tested five discrete target areas based on the presence of geochemical anomalies, high resistivity and chargeability structures, magnetic anomalies, as well as extensive artisanal workings.

Assay results from three of the five target areas drilled have been received thus far, indicating a significant new discovery at ‘Mankarga 5’, and good exploration potential remaining for the discovery of additional mineralization within other target areas. A drill-hole location map is provided at http://www.channelresources.ca/i/pdf/chu_tanlouka_Phase1results.pdf.
 

Mankarga 5

Two holes were collared in Mankarga 5, 250 metres along strike from each other on the northeast trending zone. Both holes, (T2010-7 and T2010-8) intersected two mineralized horizons including an upper low-grade zone, and a lower and wider higher grade zone. 

Both holes were drilled with an azimuth of 300 degrees and a -50 degree dip; hole T2010-7 to a depth of 100 metres and hole T2010-8 to a depth of 141.5 metres ending in mineralization (0.61 g/t Au over 2 metres).  The mineralized environment is a sheared and possibly mylonitized contact zone between a gabbroic unit and metasediments with a steep dip to the southeast. 

“The two intersections in Mankarga 5 exhibit very similar geology and gold mineralization suggesting good continuity in the structure over the 250 metres between drill holes.” commented Colin McAleenan, President and CEO of the Company. “The presence of artisanal workings along the trend indicates an apparent strike length for this shear zone of over 1,000 metres.”  
 
Mankarga 3

The Mankarga 3 target area consists of artisanal workings in an area of soil geochemical anomalies.  Results from three holes drilled in the area indicate the presence of disseminated, low-grade mineralization within multiple zones up to 44 meters wide.

Holes T2010-4 and T2010-5 were not completed to design depth due to mechanical problems. Further work is warranted in the Mankarga 3 area to follow up on these anomalous results and to investigate their relationship to higher-grade mineralization mined by the artisanal miners in the area.

Other Targets

Holes T2010-1, T2010-2 and T2010-6 were drilled into the Mankarga 4 target to test an area of strong coincident chargeability and resistivity anomalies outlined in IP surveys. These holes encountered quartz veins, and granite in contact with metasediments carrying no significant gold values.

Results are expected in the near future from Mankarga 2 where one hole was drilled to test structures being worked by artisanal miners, and from Mankarga 1 where two holes were completed within coincident chargeability, resistivity and soil geochemistry anomalies as well active artisanal workings and mineralization encountered in historical shallow RAB drill holes.

Of the 20 holes and 2,500 metres planned for this Phase I RC program, only 11 holes and 1,108 metres were completed due to mechanical issues and the onset of the rainy season.  Channel intends to continue drilling at Tanlouka after the rainy season to follow up on these results as well as to complete the Phase I testing of the targeted areas within the Mankarga Zone.

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