Tenajon Announces 2008 Drill Program Underway at Moly Brook Molybdenum Property, Newfoundland
April 15 2008 - 8:30AM
Marketwired Canada
Tenajon Resources Corp. (TSX VENTURE:TJS) (the "Company") is pleased to announce
that the 2008 exploration program has commenced at the Company's 100% owned Moly
Brook Molybdenum Property located in Newfoundland, Canada. A 6,100 metre dill
program will follow up on the exploration successes of 2007, which demonstrated
that the Moly Brook Property has excellent potential to host a bulk tonnage,
high grade and open pittable molybdenum deposit. The objectives of the 2008
program are to test and expand the area of known mineralization along strike and
down dip of the Moly Brook Zone. In addition, drill targets located on trend to
the south of the main mineralized zone will be tested. It is anticipated that a
Stage 2 follow up drill program will take place in the Summer of 2008. The
follow up program will complete additional definition drilling on the zone as
well as focus on other high priority exploration targets.
The Moly Brook property is located 2.5 km from the hamlet of Grey River on the
south coast of Newfoundland, less than 4 km from a deep water, ice free
navigable fjord. The community is serviced daily by provincial ferries. For the
duration of the program the crew will operate out of a recently established 25
person camp centrally located on the property. Drill moves will be completed
using tracked equipment.
Tenajon acquired the Moly Brook property in April 2007 and, in November of last
year, completed a very successful 12 hole drill program totaling 3,633 metres in
length. 2007 drilling encountered consistent, near surface, higher grade
molybdenum intercepts over significant widths. The program extended the Moly
Brook Zone to the north of the Moly Brook fault, as well as to the south of
historical drilling carried out by Royal Oak Mines Inc. in the mid 1990's.
Significant historical drill results on trend, approximately 2 km to the south
of the Moly Brook Zone, further highlight the size potential of this deposit.
At Moly Brook molybdenite occurs primarily along the rims of a series of north
trending, subvertical, sheeted quartz veins and fracture faces along a 2 km long
trend. At the north end of the trend, drilling has traced the main zone for 750
metres along strike with the zone being open along strike and dip. Drilling has
also shown that the Moly Brook deposit is variable in width with section 108+50N
of the deposit having a minimum width of 370 metres and remaining open as
several of the drill holes ended in significant mineralization. Some of the
significant intersections from the 2007 drill program are listed below, while
complete results are attached.
---------------------------------------------------------------
Length From To Interval Mo MoS2
Hole (metres) (metres) (metres) (metres) (%) (%)
---------------------------------------------------------------
---------------------------------------------------------------
MB 07-2 391.97 18.89 391.97 373.08 0.066 0.110
---------------------------------------------------------------
Inc. 18.89 40.23 21.34 0.134 0.223
---------------------------------------------------------------
and 226.16 335.89 109.79 0.097 0.162
---------------------------------------------------------------
---------------------------------------------------------------
MB 07-3 315.16 107.9 315.16 207.26 0.084 0.140
---------------------------------------------------------------
Inc. 132.28 244.15 111.87 0.108 0.180
---------------------------------------------------------------
or 150.57 217.63 67.06 0.138 0.230
---------------------------------------------------------------
---------------------------------------------------------------
MB 07-4 392.35 14.02 392.35 378.33 0.078 0.130
---------------------------------------------------------------
Inc. 14.02 35.36 21.34 0.100 0.167
---------------------------------------------------------------
and 87.12 108.51 21.39 0.100 0.167
---------------------------------------------------------------
and 148.13 211.84 63.71 0.122 0.203
---------------------------------------------------------------
and 248.72 276.43 27.43 0.091 0.152
---------------------------------------------------------------
and 336.50 392.35 52.22 0.093 0.155
---------------------------------------------------------------
---------------------------------------------------------------
MB 07-5 317.91 31.39 317.91 285.52 0.074 0.123
---------------------------------------------------------------
Inc. 31.39 37.49 6.05 0.137 0.228
---------------------------------------------------------------
and 55.78 83.21 27.43 0.095 0.158
---------------------------------------------------------------
and 128.93 152.10 23.17 0.099 0.165
---------------------------------------------------------------
and 208.18 317.91 109.8 0.085 0.142
---------------------------------------------------------------
and 296.57 317.91 21.34 0.088 0.147
---------------------------------------------------------------
---------------------------------------------------------------
MB 07-8 307.85 30.78 304.8 274.02 0.085 0.142
---------------------------------------------------------------
Inc. 80.47 91.14 10.67 0.142 0.237
---------------------------------------------------------------
and 110.95 120.09 9.14 0.177 0.295
---------------------------------------------------------------
or 74.47 291.39 217.02 0.097 0.162
---------------------------------------------------------------
Inc. 182.88 291.39 108.51 0.125 0.208
---------------------------------------------------------------
Exploration by previous operators has shown a 1.8 km long trend of molybdenum
mineralization extends southwards from the Moly Brook Zone. In 1964, Buchans
Mining completed two short packsack, small diameter drill holes at the south end
of the trend. Both holes intersected anomalous molybdenum values with one of the
holes averaging 0.057% Mo (0.095% MoS2) over its entire length of 27.53 metres.
The last 7.61 metres of the hole averaged 0.118% Mo (0.197% MoS2). The Buchans
drilling was completed before the implementation of NI 43-101 and Tenajon has no
way of verifying the results.
The drill program at Moly Brook is being completed by Geoscott Consultants under
the supervision of Dave Visagie, P. Geo., a Qualified Person as defined by NI
43-101.
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 Moly Brook Drill Results
To accompany Tenajon Resources News Release Dated April 15, 2008
--------------------------------------------------------
From To Interval Mo MoS2
Hole (metres) (metres) (metres) (%) (%)
--------------------------------------------------------
MB 07-1 4.27 7.32 3.05 0.037 0.062
--------------------------------------------------------
and 46.93 62.17 15.24 0.029 0.048
--------------------------------------------------------
and 119.48 123.13 3.65 0.048 0.080
--------------------------------------------------------
--------------------------------------------------------
MB 07-2 18.89 391.97 373.08 0.066 0.110
--------------------------------------------------------
Incl. 18.89 40.23 21.34 0.134 0.227
--------------------------------------------------------
and 226.16 335.89 109.73 0.097 0.162
--------------------------------------------------------
or 182.58 391.97 209.39 0.077 0.128
--------------------------------------------------------
--------------------------------------------------------
MB 07-3 107.90 315.16 207.26 0.084 0.140
--------------------------------------------------------
Incl. 132.28 244.15 111.87 0.108 0.180
--------------------------------------------------------
or 150.57 217.63 67.06 0.138 0.230
--------------------------------------------------------
--------------------------------------------------------
MB 07-4 14.02 392.35 378.33 0.078 0.130
--------------------------------------------------------
Incl. 14.02 35.36 21.34 0.100 0.167
--------------------------------------------------------
53.64 84.12 30.48 0.081 0.135
--------------------------------------------------------
87.12 108.51 21.39 0.100 0.167
--------------------------------------------------------
or 53.64 108.51 54.87 0.085 0.142
--------------------------------------------------------
and 148.13 211.84 63.71 0.122 0.203
--------------------------------------------------------
and 248.72 276.15 27.43 0.091 0.152
--------------------------------------------------------
and 336.50 392.35 55.85 0.091 0.152
--------------------------------------------------------
--------------------------------------------------------
MB 07-5 31.39 317.91 286.52 0.074 0.123
--------------------------------------------------------
Incl. 31.39 37.49 6.10 0.137 0.228
--------------------------------------------------------
and 55.78 83.21 27.43 0.095 0.158
--------------------------------------------------------
or 31.39 83.21 51.82 0.081 0.135
--------------------------------------------------------
and 128.93 152.10 23.17 0.099 0.165
--------------------------------------------------------
208.18 317.91 109.73 0.085 0.142
--------------------------------------------------------
Incl. 238.65 272.19 33.54 0.106 0.177
--------------------------------------------------------
and 296.57 317.91 21.34 0.088 0.147
--------------------------------------------------------
--------------------------------------------------------
MB 07-6 196.90 218.26 21.36 0.071 0.118
--------------------------------------------------------
242.62 260.91 18.29 0.091 0.152
--------------------------------------------------------
285.29 300.52 15.23 0.050 0.083
--------------------------------------------------------
or 196.90 300.58 103.68 0.046 0.077
--------------------------------------------------------
--------------------------------------------------------
MB 07-7 81.07 101.94 20.87 0.064 0.107
--------------------------------------------------------
131.97 145.08 13.11 0.055 0.092
--------------------------------------------------------
190.80 206.96 16.16 0.056 0.093
--------------------------------------------------------
255.42 283.77 28.35 0.038 0.063
--------------------------------------------------------
Incl. 280.11 283.77 3.66 0.124 0.207
--------------------------------------------------------
--------------------------------------------------------
MB 07-8 30.78 304.80 274.02 0.085 0.142
--------------------------------------------------------
Incl. 80.47 91.14 10.67 0.142 0.237
--------------------------------------------------------
110.95 120.09 9.14 0.177 0.295
--------------------------------------------------------
or 74.37 291.39 217.02 0.097 0.162
--------------------------------------------------------
Incl. 182.88 291.39 108.51 0.125 0.208
--------------------------------------------------------
--------------------------------------------------------
MB 07-09 165.48 265.48 100.48 0.055 0.092
--------------------------------------------------------
Incl. 195.35 231.95 36.60 0.087 0.145
--------------------------------------------------------
295.05 311.20 13.11 0.051 0.083
--------------------------------------------------------
--------------------------------------------------------
MB 07-10 No Significant Results
--------------------------------------------------------
--------------------------------------------------------
MB 07-11 205.74 227.08 21.34 0.054 0.090
--------------------------------------------------------
--------------------------------------------------------
MB 07-12 206.09 242.62 36.58 0.055 0.092
--------------------------------------------------------
Incl. 209.09 220.37 11.28 0.104 0.173
--------------------------------------------------------
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