Tenajon Drilling On Ajax Continues to Intersect Near Surface High-Grade Molybdenum (Mo) Mineralization
10 Janvier 2008 - 1:30PM
Marketwired Canada
Tenajon Resources Corp. (TSX VENTURE:TJS) (the "Company") today announced assay
results for Holes 2007-10 and 11 drilled at its Ajax Property. Hole 2007-10
intersected significant high-grade molybdenum mineralization located in the
southwest corner of the near surface mineralized zone. Commencing at 5.59 metres
below surface, the hole averaged 0.075% molybdenum over 121.51 metres including
a 41.66 metre high grade intercept averaging 0.126% molybdenum. Ajax, one of
North America's largest undeveloped molybdenum deposits, is located 14 km north
of Alice Arm in northwestern British Columbia. Infrastructure in the area is
very good with both tidewater access and hydro electric power situated at
Kitsault 16km to the south.
"We are very pleased with these additional drill results. Hole 2007-10 was
drilled within the boundaries of a potential open pit and we continue to
intersect near surface high-grade molybdenum mineralization," said Bruce McLeod,
President & CEO of Tenajon. "It appears that results to date are confirming Dr.
Nick Carter's hypothesis that the grade of the deposit may be improved by
drilling the deposit perpendicular to structures that are thought to control the
mineralization."
Thirteen drill holes totaling 2,639 metres in length were completed in 2007.
Assay results for the final two holes are pending. Once all the results have
been received, an updated NI 43-101 compliant mineral resource estimate will be
undertaken. The results for Holes 2007-10 and 11 are summarized below, while
additional results from the 2007 drill program are attached.
--------------------------------------------------------------
Length From To Int Mo MoS2
Hole (metres) (metres) (metres) (metres) (%) (%)
--------------------------------------------------------------
2007-10 186.84 5.59 127.10 121.51 0.075 0.125
--------------------------------------------------------------
Incl. 12.80 82.18 69.38 0.099 0.165
--------------------------------------------------------------
or 12.80 64.11 51.31 0.118 0.196
--------------------------------------------------------------
or 15.01 56.67 41.66 0.126 0.210
--------------------------------------------------------------
--------------------------------------------------------------
2007-11 118.57 20.76 58.97 38.21 0.019 0.032
--------------------------------------------------------------
75.78 88.09 12.31 0.015 0.025
--------------------------------------------------------------
Hole 2007-10, is located in the southwest corner of a possible open pit. The
hole was drilled to test a northwest trending zone of molybdenum mineralization
previously intersected in Hole 07-07, which was drilled 50 metres to the
southeast and intersected 60.65 metres averaging 0.065% Mo, and in historic
drill Hole 66-31, which is located 170 metres to the southeast and intersected
82.3 metres averaging 0.063% Mo (not 43-101 compliant). The results show the
northwest trend has the potential to host near surface high grade molybdenum
mineralization amenable to open pit mining.
Hole 2007-11 tested the zone outside of the possible open pit and was drilled to
test the along strike extension to the intersection in Hole 2007-08 (55.54
metres averaging 0.065% Mo) located 120 metres to the east. Due to topographic
conditions the collar for Hole 2007-11 is 140 metres higher than that for
2007-08. Hole 2007-11 intersected weakly anomalous molybdenum values
corresponding with the deeper higher grade projection of the zone.
A plan showing the Ajax drill hole locations is available in the map gallery on
the Company's website at www.tenajon.com.
The Ajax Property hosts one of North America's largest undeveloped molybdenum
deposits. At a 0.04% Mo cut-off the deposit hosts inferred resources of 448
million tonnes averaging 0.063% Mo (623.4 million pounds) and an indicated
mineral resource of 38.8 million tonnes averaging 0.064% Mo (56.4 million
pounds). The estimate was prepared by Giroux Consultants Ltd., an independent
consulting firm (released March 5, 2007). The current price for molybdenum is
approximately $32.75 per pound.
The work at the Ajax Property was completed by Apex Geoscience under the
supervision of Dave Visagie, P. Geo., Tenajon's Qualified Person as defined by
NI 43-101.
At the Ajax Property the drill core is sawn into halves with one half being sent
for analysis, the other kept for future reference. All samples were prepared and
analyzed at Acme Analytical Labs using a 4 acid digestion with analysis by
Induced Couple Polarization (ICP). A stringent program of check, blank and
duplicate sampling was employed throughout with duplicates, standards and blanks
being entered into the sample stream at regular intervals. In addition, a
limited amount of samples are being sent to other labs to determine the
reproducibility of the results.
On Behalf of the Board of Directors
TENAJON RESOURCES CORP.
D. Bruce McLeod, President
This news release may contain forward looking statements which are not
historical facts, such as ore reserve estimates, anticipated production or
results, sales, revenues, costs, or discussions of goals and exploration
results, and involves a number of risks and uncertainties that could cause
actual results to differ materially from those projected. These risks and
uncertainties include, but are not limited to, metal price volatility,
volatility of metals production, project development, ore reserve estimates,
future anticipated reserves and cost engineering estimate risks, geological
factors and exploration results. See the Company's filings for a more detailed
discussion of factors that may impact expected results.
2007 Ajax Property Drill Results
To accompany Tenajon Resources News Release Dated January 10, 2008
------------------------------------------------------------------
Length From To Interval Mo MoS2
Hole (m) (m) (m) (m) (%) (%)
------------------------------------------------------------------
2007-01 313.64 109.42 287.14 177.72 0.056 0.093
------------------------------------------------------------------
Incl. 149.35 283.16 131.24 0.064 0.107
------------------------------------------------------------------
------------------------------------------------------------------
2007-02 294.14 103.99 217.44 113.45 0.050 0.083
------------------------------------------------------------------
Incl. 153.93 187.45 33.52 0.067 0.112
------------------------------------------------------------------
------------------------------------------------------------------
2007-03 260.61 3.05 260.62 257.60 0.090 0.150
------------------------------------------------------------------
Incl. 21.29 44.20 22.91 0.098 0.163
------------------------------------------------------------------
And 129.78 239.27 109.49 0.126 0.210
------------------------------------------------------------------
------------------------------------------------------------------
2007-04 197.21 34.33 166.73 132.4 0.026 0.043
------------------------------------------------------------------
Incl. 104.73 166.73 62.00 0.032 0.053
------------------------------------------------------------------
------------------------------------------------------------------
2007-05 79.25 Abandoned due to ground conditions
------------------------------------------------------------------
------------------------------------------------------------------
2007-06 244.76 0 244.76 244.76 0.049 0.081
------------------------------------------------------------------
Incl. 26.96 74.58 47.72 0.060 0.100
------------------------------------------------------------------
And 134.91 187.45 52.54 0.076 0.127
------------------------------------------------------------------
------------------------------------------------------------------
2007-07 222.81 0 222.81 228.81 0.039 0.069
------------------------------------------------------------------
Incl. 162.16 204.83 42.67 0.069 0.115
------------------------------------------------------------------
And 212.14 222.81 10.67 0.069 0.115
------------------------------------------------------------------
------------------------------------------------------------------
2007-08 222.7 14.63 70.17 55.54 0.065 0.108
------------------------------------------------------------------
Incl. 14.63 41.04 26.41 0.071 0.118
------------------------------------------------------------------
And 58.00 70.17 12.17 0.071 0.118
------------------------------------------------------------------
------------------------------------------------------------------
2007-09 190.81 0 190.81 190.81 0.077 0.128
------------------------------------------------------------------
Incl. 44.45 142.04 97.59 0.097 0.162
------------------------------------------------------------------
or 104.86 151.18 46.32 0.144 0.240
------------------------------------------------------------------
Incl. 114.61 142.04 27.43 0.194 0.323
------------------------------------------------------------------
------------------------------------------------------------------
2007-10 186.84 5.59 127.10 121.51 0.075 0.125
------------------------------------------------------------------
Incl. 12.80 82.18 69.38 0.099 0.165
------------------------------------------------------------------
or 12.80 64.11 51.31 0.118 0.196
------------------------------------------------------------------
or 15.01 56.67 41.66 0.126 0.210
------------------------------------------------------------------
------------------------------------------------------------------
2007-11 118.57 20.76 58.97 38.21 0.019 0.032
------------------------------------------------------------------
75.78 88.09 12.31 0.015 0.025
------------------------------------------------------------------
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