Channel Resources Reports Metallic Screen Assay Results From Tanlouka Gold Project, Burkina Faso
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 7, 2011) -Channel Resources Ltd. ("Channel" or the "Company") (TSX VENTURE:CHU)is pleased to report on the results of metallic screen assays that wereperformed on selected intersections from previously reported drill holesin the Mankarga Zone of the Tanlouka Gold Project. These resultsconfirm the presence of coarse gold in both Mankarga 1 and Mankarga 5target areas, demonstrating the need for adjustments in sample analysismethods in future drill programs.
A total of 78 samples from three holes in theMankarga Zone were re-submitted to Abilab Burkina SARL (ALS LaboratoryGroup) in Ouagadougou. The metallic screen method separates 1000 gramsof the final prepared pulp over a 100-micron dry screen. Coarse (+100micron) and fine (-100 micron) fractions are then analyzed separatelyusing standard fire assay procedures and the weighted average grade isthen computed. This sampling method more accurately assesses gold gradesin rock types where coarse gold is present that would not necessarilybe represented in the standard fire assay method.
Mankarga 1
Forty six samples (each representing a two-metresample interval) were re-assayed from Tan10-RC12 and Tan 10-RC13 in theMankarga 1 target area. The results from Tan10-RC12 show an average 50%increase in the metallic screen assays over those from standard fireassays for the 20 samples tested. An average increase of 10% wassimilarly indicated for the 26 samples tested from hole Tan10-RC13.
Of the total forty six samples, 38 samples fromMankarga 1 which graded lower than 1 gram per tonne gold (g/t Au) in theoriginal fire assays showed an average 13% increase in grade and theremaining 8 samples, grading over 1 g/t Au, showed an average 18%increase in grade in the metallic screen assays. Please refer toAppendix 1 for a comparison of each sample analysis.
Mankarga 5
Thirty two samples were re-assayed from Tan10-RC21 inthe Mankarga 5 target area and showed an average 10% overall increasein grade using the metallic screen assay method over the standard fireassay method. Twenty seven of these samples with a grade lower than 1g/t Au showed an average increase of 6% in the metallic screen versusstandard fire assay methods, while five samples that grade over 1 g/t Aushowed a 27% increase in grade using the metallic screen method. Pleaserefer to Appendix 1 for a comparison of each sample analysis.
Detailed methodology used ALS Chemex for Metallic Screen Analysis:
Sample Decomposition: Fire Assay Fusion (FA-FUS05)
Analytical Method: Gravimetric
The sample pulp is passed through a 100 micron (Tyler150 mesh) stainless steel screen. Any material remaining on the screen(+) 100 microns is retained and analyzed in its entirety by fire assaywith gravimetric finish and reported as the Au (+) fraction. Thematerial passing through the screen (-) 100 micron fraction) ishomogenized and two sub-samples (50g) are analyzed by fire assay withAAS finish (Au-AA26 and Au-AA26D). The average of the two AAS results istaken and reported as the Au (-) fraction result. All three values areused in calculating the combined gold content of the plus and minusfractions. The gold values for both the (+) 100 and (-) 100 micronfractions are reported together with the weight of each fraction as wellas the calculated total gold content of the sample.
Channel Resources Ltd. is a Canadian TSX.V listedmineral exploration Company which has an option to earn a 90% interestin the Tanlouka Gold Project in Burkina Faso, West Africa, the terms ofwhich the Company has already satisfied, and an option to earn 100% inthe Fox Creek Lithium / Potash Brine Project in Alberta. At Tanlouka,Channel has recently discovered multiple mineralized zones that are nowbeing explored and expanded through a 10,000 metre reverse circulationdrilling program. At Fox Creek, a bulk sample of brine sourced fromproducing natural gas wells is undergoing process testing to determinethe most efficient method of producing various industrial minerals fromthe brine, including lithium carbonate, potash, bromine and borates. TheCompany is financed to advance both projects through their currentprograms, and is actively searching for additional opportunities toexpand its project portfolio.
Some of the statements contained herein areforward-looking statements which involve known and unknown risks anduncertainties. Without limitation, statements regarding potentialmineralization and resources, exploration results, and future plans andobjectives of the Company are forward looking statements that involvevarious degrees of risk. The following are important factors that couldcause the Company's actual results to differ materially from thoseexpressed or implied by such forward looking statements: changes in theprice of minerals, general market conditions, risks inherent in mineralexploration, risks associated with development, construction and miningoperations, the uncertainty of future profitability and the uncertaintyof access to additional capital. The Company undertakes no obligation toupdate publicly or otherwise revise any forward-looking statements orthe foregoing list of factors, whether as a result of new information orfuture events or otherwise. Further disclosure on risk factors isavailable in the Company's various corporate filings at www.sedar.com.
Appendix 1
| Mankarga 1 |
|
|
| TAN11-RC12 |
|
|
| Sample # |
Standard Fire Assay
(g/t Au) |
Metallic Screen Analysis
(g/t Au) |
| 1032 |
0.01 |
0.01 |
| 1033 |
38.2 |
50.2 |
| 1034 |
34.7 |
37.8 |
| 1035 |
51.2 |
92.5 |
| 1036 |
3.00 |
2.83 |
| 1037 |
0.08 |
0.12 |
| 1041 |
0.01 |
0.01 |
| 1042 |
0.08 |
0.01 |
| 1043 |
0.01 |
0.01 |
| 1044 |
0.20 |
0.18 |
| 1045 |
0.01 |
0.05 |
| 1046 |
0.02 |
0.07 |
| 1047 |
0.01 |
0.11 |
| 1051 |
0.02 |
0.01 |
| 1052 |
0.02 |
0.11 |
| 1053 |
0.01 |
0.11 |
| 1054 |
3.09 |
3.35 |
| 1055 |
0.07 |
0.05 |
| 1056 |
0.16 |
0.06 |
| 1057 |
0.12 |
0.07 |
| Mankarga 1 |
|
|
| TAN11-RC13 |
|
|
| Sample # |
Standard Fire Assay
(g/t Au) |
Metallic Screen Analysis
(g/t Au) |
| 1135 |
0.37 |
0.88 |
| 1136 |
0.55 |
0.89 |
| 1137 |
0.05 |
0.23 |
| 1141 |
0.01 |
0.01 |
| 1142 |
0.03 |
0.33 |
| 1143 |
0.01 |
0.01 |
| 1144 |
0.01 |
0.01 |
| 1145 |
2.65 |
2.80 |
| 1146 |
0.01 |
0.00 |
| 1147 |
0.68 |
0.32 |
| 1148 |
0.11 |
0.11 |
| 1149 |
0.09 |
0.06 |
| 1150 |
0.20 |
0.19 |
| 1151 |
0.30 |
0.26 |
| 1152 |
0.35 |
0.28 |
| 1153 |
0.25 |
0.16 |
| 1154 |
0.01 |
0.01 |
| 1155 |
0.18 |
0.16 |
| 1156 |
1.56 |
1.98 |
| 1157 |
2.59 |
2.23 |
| 1161 |
0.24 |
0.30 |
| 1162 |
0.10 |
0.11 |
| 1163 |
0.14 |
0.17 |
| 1164 |
0.06 |
0.07 |
| 1165 |
0.09 |
0.08 |
| 1166 |
0.07 |
0.05 |
| Mankarga 5 |
|
|
| TAN11-RC21 |
|
|
| Sample # |
Standard Fire Assay
(g/t Au) |
Metallic Screen Analysis
(g/t Au) |
| B0061 |
0.24 |
0.20 |
| B0062 |
0.17 |
0.15 |
| B0063 |
0.47 |
0.33 |
| B0064 |
0.47 |
0.67 |
| B0065 |
0.50 |
0.51 |
| B0066 |
0.43 |
0.46 |
| B0067 |
0.46 |
0.45 |
| B0068 |
0.31 |
0.41 |
| B0069 |
0.73 |
0.79 |
| B0070 |
0.05 |
0.05 |
| B0071 |
0.02 |
0.01 |
| B0072 |
0.03 |
0.01 |
| B0073 |
0.32 |
0.42 |
| B0074 |
0.51 |
0.65 |
| B0075 |
0.05 |
0.05 |
| B0076 |
0.11 |
0.13 |
| B0077 |
0.25 |
0.26 |
| B0081 |
0.70 |
0.68 |
| B0082 |
0.72 |
0.79 |
| B0083 |
0.96 |
1.12 |
| B0084 |
2.21 |
2.53 |
| B0085 |
0.26 |
0.35 |
| B0086 |
0.38 |
0.23 |
| B0087 |
1.12 |
1.77 |
| B0088 |
2.32 |
2.73 |
| B0089 |
2.85 |
3.41 |
| B0090 |
0.67 |
0.41 |
| B0091 |
0.71 |
0.41 |
| B0092 |
0.45 |
0.49 |
| B0093 |
0.41 |
0.01 |
| B0094 |
0.69 |
0.30 |
| B0095 |
0.23 |
1.04 |
FOR FURTHER INFORMATION PLEASE CONTACT:
Colin McAleenan
Channel Resources Ltd.
President & CEO
604.684.7098
OR
Cyrus Ameli
Channel Resources Ltd.
CFO & VP Corporate Affairs
604.684.7098
604.684.7079 (FAX)
info@channelresources.ca
www.channelresources.ca
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracy ofthis release.