Channel Resources Ltd. (CHU.V) today provided an update on its Tanlouka gold project in Burkina Faso, West Africa.
Channel has made significant progress in advancing Tanlouka since it first began exploratory drilling activities in 2010. After making its initial gold discovery, the Company delineated a sizeable initial resource (425,000 oz gold Indicated, 729,000 oz gold Inferred) at Tanlouka's Mankarga 5 deposit.
Exploration work conducted to date indicates excellent potential to expand the resource at Mankarga 5, the company said in a statement. The 2,000 metre long Whittle pit shell that constrains the resource has an average depth of only 160 metres, with the mineralized structures remaining open to depth. It is anticipated that additional drilling below the current resource blocks will result in an increase in resource gold ounces, as it has for a similar nearby gold deposit in Burkina Faso whose planned pit depth exceeds 450 metres. The Mankarga 5 structure also has potential for along-strike extensions, presenting additional opportunities to increase resources.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
