Channel Resources Ltd (fka CHU)

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Channel VP Cyrus Ameli on Burkina Faso gold assays of 1.28 g/t over 30m

Channel Resources Ltd TSXV:CHU announced assays from the Mankarga 5 deposit of its Tanlouka gold project in Burkina Faso, West Africa. Results include

1.12 g/t gold over 3.1 metres
1.14 g/t over 12 metres (including 17.6 g/t over 0.4 metres)
0.74 g/t over 52.5 metres (including 1.9 g/t over 10.5 metres)
1.28 g/t over 30 metres
0.61 g/t over 57 metres (including 1.3 g/t over 6 metres)
0.81 g/t over 60 metres (including 2.07 g/t over 6 metres)
1.32 g/t over 1.5 metres
2.58 g/t over 3 metres

Senior VP Cyrus Ameli tells ResourceClips.com, “We have just completed the 15,000-metre core drilling program that was focused on one deposit on our Tanlouka project called ManKarga 5. That has been the primary focus of our drilling with the objective of putting out a resource estimate. We’re expecting [the resource estimate] over the next few months—as soon as we get all the results in from that drilling program.

Read the rest of this article. http://resourceclips.com/2012/03/12/channel-vp-cyrus-ameli-on-burkina-faso-gold-assays-of-1-28-gt-over-30m/

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Channel CFO Cyrus Ameli on Burkina Faso gold assays of 1.99 g/t over 70m

Channel Resources Ltd TSXV:CHU announced assays from its Tanlouka Gold Project in Burkina Faso. Results include 1.99 g/t gold over 70 metres (including 6.47 g/t over 13.5 metres), 1.1 g/t over 108 metres (including 2.32 g/t over 20 metres), 0.92 g/t over 98.7 metres (including 1.15 g/t over 30 metres), 1.2 g/t over 52.5 metres (including 5.67 g/t over 4.5 metres) and 0.77 g/t over 64.5 metres (including 1.32 g/t over 11.3 metres).

CFO Cyrus Ameli tells ResourceClips.com, “Tanlouka is actually a property that Channel has had for quite a number of years. We gradually did all the ground proofing that was necessary to delineate some drill targets on it during the market difficulties leading up to last year. Last year, we managed to raise enough money to do a very short drill program. That was enough to make our discovery at a number of different areas on the Tanlouka project, but principally on the Mankarga 5 zone, which is our main focus right now. We’ve been following that up and have been quite fortunate in being able quickly to delineate what is, right now, a 1.85-kilometre-long strike length. We haven’t yet completed any of our geological modelling on it, but we’re fairly confident that we have between a 150- and 200-metre-long width on it as well. That’s something that we’re starting to put together with this transition to the core drilling, the first results of which we put out this morning.

Read the rest of this article: http://bit.ly/mTCcqV

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Back in Burkina
Channel Finds Gold, Stability in W Africa

By Ted Niles

Mining interest in Burkina Faso has grown remarkably over the last two decades. Channel Resources Ltd TSX:CHU has been there from the beginning. “Several significant projects iin Burkina were early Channel discoveries,” says Senior Vice President Cyrus Ameli. “When the price of gold and the whole exploration market really came off in the late 1990s-early-2000s, it was impossible for Channel to properly finance the exploration of these projects. There was a period where the company had to pull back from the projects and optioned a number of them away to different companies. Orezone Gold Corporation’s TSX:ORE Bomboré project was the last one.”

Read the rest of this article: http://bit.ly/nuLZRr