Tenajon Drilling On Ajax Continues to Intersect Near Surface Molybdenum (Mo) Mineralization
February 05 2008 - 7:30AM
Marketwired Canada
Tenajon Resources Corp. (TSX VENTURE:TJS) (the "Company") today announced that
assay results have been received for the final two holes drilled at its Ajax
Property in 2007. Hole 2007-12 intersected a 143.26 metre intercept averaging
0.058% Mo. Within the intercept are high grade sections of 34.02 metres
averaging 0.086% Mo and 4.87 metres averaging 0.094% Mo. Hole 2007-13
intersected a 38.52 metre section averaging 0.076% Mo within a 130.01 intercept
averaging 0.054% Mo. 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.
"The 2007 drill program was successful in defining near surface Molybdenum
mineralization accessible from surface," said Bruce McLeod, President & CEO of
Tenajon. "Once the updated resource calculation is complete Tenajon will
finalize its plans for advancement of the Ajax Property."
In 2007, thirteen drill holes totaling 2,639 metres in length were completed at
Ajax. The holes were concentrated along the northern portion of the deposit
within an area identified as having the lowest strip ratio of a potential open
pit operation. Assays have now been received for all of the 2007 drill holes.
The data is presently being compiled in preparation for an updated NI 43-101
compliant mineral resource estimate. The results for Holes 2007-12 and 13 are
summarized below, with additional results from the 2007 drill program being
attached.
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Length From To Int Mo MoS2
Hole (metres) (metres) (metres) (metres) (%) (%)
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2007-12 196.90 50.90 194.15 143.26 0.058 0.097
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81.38 155.76 74.38 0.067 0.112
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81.38 115.40 34.02 0.086 0.143
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150.89 155.76 4.87 0.094 0.157
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171.18 177.51 6.35 0.072 0.120
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----------------------------------------------------------------
2007-13 185.02 54.97 185.02 130.01 0.054 0.090
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87.48 126.00 38.52 0.076 0.127
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Hole 2007-12 was drilled orthogonal to a 196.90 metre intercept averaging 0.098%
Mo located approximately 140 metres down-dip intersected in Hole 05-1.
Hole 2007-13 was located to test the continuity of the northwest trending zone
of molybdenum mineralization approximately 50 metres to the southeast of Hole
07-7 (42.67 metres averaging 0.069% Mo). Both holes occur outside of the
proposed open pit. Hole 2007-13 intersected significant molybdenum values over
the final 130.01 metres with a 38.52 metre long high grade near surface
intercept being intersected at 87.48 metres. Combining the results of the 2007
drill program with those of previous programs, significant molybdenum values
have been intersected over a 300 metre strike length along a northwest trend.
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 and 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
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Length From To Interval Mo MoS2
Hole (m) (m) (m) (m) (%) (%)
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2007-01 313.64 109.42 287.14 177.72 0.056 0.093
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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 3.05 260.62 257.6 0.090 0.15
----------------------------------------------------------------
Incl. 21.29 44.2 22.91 0.098 0.163
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And 129.78 239.27 109.49 0.126 0.21
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2007-04 197.21 34.33 166.73 132.4 0.026 0.043
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Incl. 104.73 166.73 62 0.032 0.053
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2007-05 79.25 Abandoned due to ground conditions
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2007-06 244.76 0 244.76 244.76 0.049 0.081
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Incl. 26.96 74.58 47.72 0.06 0.1
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And 134.91 187.45 52.54 0.076 0.127
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2007-07 222.81 0 222.81 228.81 0.039 0.069
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Incl. 162.16 204.83 42.67 0.069 0.115
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And 212.14 222.81 10.67 0.069 0.115
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2007-08 222.7 14.63 70.17 55.54 0.065 0.108
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Incl. 14.63 41.04 26.41 0.071 0.118
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And 58.00 70.17 12.17 0.071 0.118
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2007-09 190.81 0 190.81 190.81 0.077 0.128
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Incl. 44.45 142.04 97.59 0.097 0.162
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or 104.86 151.18 46.32 0.144 0.24
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or 114.61 142.04 27.43 0.194 0.323
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2007-10 186.84 5.59 127.1 121.51 0.075 0.125
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Incl. 12.8 82.18 69.38 0.099 0.165
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or 12.8 64.11 51.31 0.118 0.196
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or 15.01 56.67 41.66 0.126 0.21
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2007-11 118.57 20.76 58.97 38.21 0.019 0.032
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75.78 88.09 12.31 0.015 0.025
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2007-12 196.90 50.90 194.15 143.26 0.058 0.097
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Incl. 81.38 155.76 74.38 0.067 0.112
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or 81.38 115.40 34.02 0.086 0.143
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And 150.89 155.76 4.87 0.094 0.157
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or 171.18 177.51 6.35 0.072 0.120
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2007-13 185.02 54.97 185.02 130.01 0.054 0.090
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Incl. 87.48 126.00 38.52 0.076 0.127
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