Tenajon Resources Corp.: Moly Brook Compilation Complete
Tuesday May 29, 8:30 am ET
Historic Molybdenum Grades of Over 0.75% Mo
Drill Program Proposed for Moly Brook Property
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VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 29, 2007) - Tenajon Resources Corp. (TSX VENTURE:TJS - News; the "Company") is pleased to announce that data compilation of the Moly Brook Property has been completed. The review of all available information has confirmed the company's initial impression that the Moly Brook property has excellent potential to host a significant porphyry style molybdenum deposit. An initial summer drill program consisting of prospecting, mapping, geophysical surveying and a minimum of 10,000 feet of diamond drilling has been proposed to evaluate the property.
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. Previous exploration completed in 1995 and 1996 by Royal Oak Mines outlined a 450 x 1,100 metre area hosting molybdenite and chalcopyrite in outcrop. Soil geochemistry identified a 50 ppm Mo in soil contour outlining an up to 500 metre wide by 1,200 metre long and open anomaly that is coincidental with the observed mineralization. Eleven of the 46 sites comprising the anomaly returned values of greater than the detection limit of 220 ppm molybdenum. In the northern third of the anomaly a copper in soil copper anomaly occurs with the maximum value being 570 ppm. In addition to the molybdenum/copper anomalies, highly anomalous tungsten values of up to a maximum of 440 ppm occur partially coincidental and peripheral to the southern two thirds of the molybdenum anomaly.
Three small diameter sized drill holes drilled by Royal Oak Mines Inc. in 1995 and 1996 tested a 300 metre segment of the higher grade soil molybdenum/copper anomaly. All of the holes intersected molybdenum/copper mineralization with several sections containing high grade molybdenum values. In addition, all three holes ended in significant molybdenum mineralization leaving the zone open in all directions. Highlights are tabulated below.
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From To Interval Interval Mo MoS2 Cu
Hole (metres) (metres) (metres) (feet) (%) (%) (%)
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95-01 25.0 229.8 204.8 682 0.061 0.098 0.03
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Incl. 75.0 119.0 44.0 144 0.111 0.178 0.03
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and 173.0 219.0 46.0 151 0.059 0.094 0.01
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95-04 113.0 225.0 112.0 367 0.065 0.104 0.06
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Incl. 127.0 157.0 30.0 98 0.075 0.120 0.08
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and 167.0 213.0 46.0 151 0.081 0.130 0.05
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96-06 78.0 264.3 186.3 611 0.039 0.062 0.04
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Incl. 78.0 82.0 4.0 13 0.175 0.280 0.13
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and 144.0 154.0 10.0 33 0.061 0.098 0.02
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and 176.0 244.0 68.0 223 0.050 0.080 0.03
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In Hole 95-01 there is a 16 metre section grading 0.188% Mo, which includes a 2 metre high grade section of over 0.75% Mo. Hole 95-04 had 6 and 2 metre intervals grading 0.123% and 0.25% Mo, respectively. In addition to molybdenum and copper, Hole 96-06 had sections containing anomalous tungsten values as determined by I.C.P. analysis with individual samples assaying up to 0.068% tungsten over 2 metres.
Historic drill hole grades were significant; however, there is reason to believe that the grade was under-reported. Testing of selected samples from Holes 95-01 and 95-04 by Royal Oak Mines using a 0.6 kilogram vs. the original 0.2 kilogram split resulted in increased molybdenum and copper grades. In the case of Hole 95-01 the average increase for molybdenum was 28% whereas for copper it was 37%. In Hole 95-04 the increase was 1% for molybdenum and 3% for copper. The variances occur throughout the length of the holes. Some of the more significant changes are listed below.
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Mo (%) Mo (%) Cu (%) Cu (%)
Width 0.2 kg 0.6 kg % 0.2 kg 0.6 kg %
Hole (metres) Split Split Change Split Split Change
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95-01 2 0.192 0.304 58.8 0.129 0.213 64.5
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2 0.131 0.192 46.6 0.036 0.045 24.4
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2 0.779 1.000 28.4 0.026 0.027 0.4
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2 0.352 0.618 75.6 0.078 0.094 19.9
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2 0.289 0.251 -13.2 0.016 0.021 21.9
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2 0.124 0.168 35.6 0.042 0.055 29.3
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95-04 2 0.340 0.217 -36.2 0.062 0.059 -6.2
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2 0.085 0.108 27.5 0.057 0.070 22.0
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2 0.245 0.424 73.1 0.031 0.031 2.0
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The limited work completed at Moly Brook shows the property to have excellent potential to host a significant porphyry molybdenum deposit. It has a setting, mineralogy and alteration pattern similar to that at major deposits located elsewhere. In order to further evaluate the property, the company has contracted Geoscott Consultants of St. John's Newfoundland to manage the proposed exploration program. The program will consist of prospecting, mapping and sampling along the trend of mineralization. Geophysical surveying consisting of Induced Polarization and magnetics is to be completed over the main trend to further define the targets. Finally, a first phase 10,000 foot diamond drilling program will be completed to test the continuity of the zone along strike and down dip using NQ sized core. The program is expected to commence in early July.
Additional Information
Additional information on Tenajon can be found on the company website at tenajon.com.
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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
Contact:
D. Bruce McLeod
Tenajon Resources Corp.
President
(604) 687-7545 or Toll Free: 1-888-338-2200
(604) 689-5041 (FAX)
Email: info@northair.com
Website: www.tenajon.com
Source: Tenajon Resources Corp. |
