great news They continue to add to their discovery at the Tanlouka Gold Project in Burkina Faso, West Africa. It is still early but there is plenty to like with this play. 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.
Only half of the planned Phase I holes were completed before the program was terminated due to the onset of seasonal heavy rains. Holes planned but not drilled include two to three more holes in Mankarga 2, four holes in Mankarga 1 North, two to three holes in Mankarga 1 South. Some adjustment of the targets of the remaining holes will likely be made in light of the two new gold discoveries at Mankarga 1 South and Mankarga 5 but the reconnaissance nature of the program will be retained when the program resumes in November.
At Fox Creek, Alberta , 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.
This company is a very speculative play, but they are positioned in a "sweet spot" in the market right now with a nice GOLD property in Burkina Faso and an interesting LITHIUM play in Alberta. I already own shares in CHU, so my opinion may seem kind of bias.