Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (30940)	1/8/2009 2:51:30 PM
From: LoneClone	Read Replies (3) \| Respond to of 194794

Columbia Yukon Explorations Inc.: 100 Metre Step Out at Storie Deposit Hits 45 Metres Grading 0.16% Moly! Thu Jan 8, 12:25 PM ca.news.finance.yahoo.com WEST VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 8, 2009) - Columbia Yukon Explorations Inc. (the "Company" or "Columbia Yukon") (TSX VENTURE: CYU.V)(FRANKFURT: VOR.F) is extremely pleased to announce additional assay results from the Company's "Storie" property molybdenum deposit located near Cassiar in northern British Columbia. Seven additional drill holes (ST08-117, 120, 123, 124B, 125, 128 and 129) were completed during the Company's 2008 drilling program and all seven holes have intersected significant molybdenum mineralization (six of which are located outside of the known NI 43-101 resource). Drill hole ST08-117 (located 250 metres west of the known Indicated resource) intersected 30 metres grading 0.078% Mo; Drill hole ST08-120 (located 100 metres west of the known Indicated resource) intersected 84 metres grading 0.054% Mo; Drill hole ST08-123 (located 150 metres west of the known Indicated resource) intersected 32 metres grading 0.064% Mo, including 10 metres grading 0.124% Mo; Drill hole ST08-124B, a shallow dipping exploration hole (located 100 metres south of the known Indicated resource) intersected 62 metres grading 0.034% Mo; Drill hole ST08-125 (located 100 metres west of the known Indicated resource) intersected 430 metres grading 0.075% Mo, including 117 metres grading 0.092% Mo and 40 metres grading 0.163% Mo; Drill hole ST08-128 (located 100 metres west of the known Indicated resource) intersected 467 metres grading 0.055% Mo, including 24 metres grading 0.097% Mo, 21 metres grading 0.096% Mo and 45 metres grading 0.160% Mo; and Drill hole ST08-129 (an infill hole designed to move the known deposit from an Indicated category to a Measured category) intersected 123 metres grading 0.116% Mo and 39 metres grading 0.063% Mo. A total of 49 drill holes were completed by Columbia Yukon in its 2008 drilling program on the Storie property. To date, assay results have been received and reported for 34 drill holes. The assay results for the remaining 15 drill holes will be reported by the Company as they are received and analyzed. "Drilling of the potential extensions to the resource (identified in the 3-D modeling completed in 2008 by Mintec, Inc.) continues to intersect impressive lengths of molybdenum mineralization. We continue to be extremely pleased with the assay results from the 2008 drilling program, which indicate molybdenum mineralization well beyond the boundaries of the known resource area. The Company believes that these results are going to expand the deposit size significantly and substantially increase the overall mineral resource for the Storie property project," said Ronald Coombes, President and CEO of Columbia Yukon. The assay results for the seven drill holes referred to above are as follows: ------------------------------------------------------------------------ Average Average Grade Hole From To Interval Grade (MoS2%) Number (metres) (metres) (metres) (Mo%) (i) ------------------------------------------------------------------------ ST08-117 86 116 30 0.078 0.130 ------------------------------------------------------------------------ ST08-120 196 280 84 0.054 0.090 ------------------------------------------------------------------------ ST08-123 40 72 32 0.064 0.107 ------------------------------------------------------------------------ including 44 54 10 0.124 0.207 ------------------------------------------------------------------------ ST08-124B 68 130 62 0.034 0.057 ------------------------------------------------------------------------ ST08-125 54 484 430 0.075 0.125 ------------------------------------------------------------------------ including 273 390 117 0.092 0.153 ------------------------------------------------------------------------ including 444 484 40 0.163 0.272 ------------------------------------------------------------------------ ST08-128 14 481 467 0.055 0.092 ------------------------------------------------------------------------ including 122 146 24 0.097 0.162 ------------------------------------------------------------------------ including 280 301 21 0.096 0.160 ------------------------------------------------------------------------ including 436 481 45 0.160 0.267 ------------------------------------------------------------------------ ST08-129 109 232 123 0.116 0.193 ------------------------------------------------------------------------ and 329 368 39 0.063 0.105 ------------------------------------------------------------------------ (i) conversion factor: 1% MoS2 equals 0.5999% Mo The current NI 43-101 Mineral Resource estimate report, as prepared by Watts, Griffis and McOuat Limited, Consulting Geologists and Engineers of Toronto, Ontario ("Watts Griffis"), and Mintec, Inc. of Tucson, Arizona ("Mintec"), has been prepared in compliance with NI 43-101 and presents a review of the geology and Mineral Resources of Columbia Yukon's Storie property molybdenum deposit. The Company has filed the NI 43-101 report on www.SEDAR.com and on its website at www.columbiayukon.com. The assay results from the Company's 2008 drilling program are being reviewed and analyzed by Watts Griffis and Mintec in connection with the preparation of a further updated NI 43-101 report, the results of which will be announced by the Company when completed. All of the above holes were drilled using hydraulic drills producing NQ size core. Most of the core was sawn in half by a diamond bit rock saw and half of the core was retained and stored in the core box for permanent record or later reference. The other half was bagged and sent to Loring Labs of Calgary, Alberta, where it was crushed and pulverized. A one gram sample was then split out and dissolved in a four acid complete dissolution and analyzed for molybdenum using an "AA" (atomic absorption) finish. In addition to both Loring Labs' and Columbia Yukon's internal QA/QC, every 20th sample reject pulp is being sent to Acme Analytical Laboratories of Vancouver, B.C. for inter-laboratory analysis. With the core that was not split, such core was from certain infill drill holes that were surrounded by split core holes. This measure was taken to confirm the Company's core handling procedure and to determine whether a variance exists between the assay results from such core samples. This news release has been reviewed and approved by Mr. Arnold Pollmer, P.Geo., who is acting as the Qualified Person for the Company's Storie molybdenum project in accordance with regulations under NI 43-101. About Columbia Yukon Explorations Inc.: Columbia Yukon is a Canadian mineral exploration company focused on the development of its Storie property molybdenum deposit. The Storie property is situated about 6 km southwest of Cassiar, British Columbia. Cassiar is located 15 km (by road) west of Highway 37, which provides access to Watson Lake, Yukon, to the north and Dease Lake and Stewart, British Columbia, to the south. Columbia Yukon Explorations Inc. Ronald A. Coombes, President & CEO The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy this release. Contacts Mr. Clive Shallow Columbia Yukon Explorations Inc. Investor Communications (604) 922-2030 (604) 922-2037 (FAX) Website: www.columbiayukon.com