A
NORTHAIR GROUP COMPANY
SUITE
860
- 625
HOWE STREET
VANCOUVER, BC
V6C 2T6 CANADA TEL:
604-687-7545 FAX:
604-689-5041
PRESS RELEASE
FOR IMMEDIATE
RELEASE
February 05, 2008
#08-04
Tenajon Drilling On Ajax Continues to Intersect Near Surface
Molybdenum (Mo) Mineralization
Results include 0.086% Molybdenum over 34.02 Metres and 0.076% Mo
over 38.52 Metres
Tenajon Resources Corp (TSX-V: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.
Hole |
Length
(metres) |
From
(metres) |
To
(metres) |
Int
(metres) |
Mo (%) |
MoS2
(%) |
2007-12 |
196.90 |
50.90 |
194.15 |
143.26 |
0.058 |
0.097 |
|
|
81.38 |
155.76 |
74.38 |
0.067 |
0.112 |
|
|
81.38 |
115.40 |
34.02 |
0.086 |
0.143 |
|
|
150.89 |
155.76 |
4.87 |
0.094 |
0.157 |
|
|
171.18 |
177.51 |
6.35 |
0.072 |
0.120 |
|
|
|
|
|
|
|
2007-13 |
185.02 |
54.97 |
185.02 |
130.01 |
0.054 |
0.090 |
|
|
87.48 |
126.00 |
38.52 |
0.076 |
0.127 |
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.
Per: D.
Bruce
McLeod
D. Bruce
McLeod, President
FOR MORE INFORMATION CONTACT THE COMPANY AT
1-604-687-7545 or Toll Free 1-888-338-2200
Internet:
www.tenajon.com Email: info@northair.com
_________________________________________________________________________________________________________________________________________________
The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or accuracy of
this press release. 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
Hole |
Length (m) |
From (m) |
To (m) |
Interval (m) |
Mo
(%) |
MoS2
(%) |
|
|
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 |
257.6 |
0.090 |
0.15 |
|
|
Incl. |
21.29 |
44.2 |
22.91 |
0.098 |
0.163 |
|
|
And |
129.78 |
239.27 |
109.49 |
0.126 |
0.21 |
|
|
|
|
|
|
|
|
|
2007-04 |
197.21 |
34.33 |
166.73 |
132.4 |
0.026 |
0.043 |
|
|
Incl. |
104.73 |
166.73 |
62 |
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 |
0.06 |
0.1 |
|
|
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 |
0.24 |
|
|
or |
114.61 |
142.04 |
27.43 |
0.194 |
0.323 |
|
|
|
|
|
|
|
|
|
2007-10 |
186.84 |
5.59 |
127.1 |
121.51 |
0.075 |
0.125 |
|
|
Incl. |
12.8 |
82.18 |
69.38 |
0.099 |
0.165 |
|
|
or |
12.8 |
64.11 |
51.31 |
0.118 |
0.196 |
|
|
or |
15.01 |
56.67 |
41.66 |
0.126 |
0.21 |
|
|
|
|
|
|
|
|
|
2007-11 |
118.57 |
20.76 |
58.97 |
38.21 |
0.019 |
0.032 |
|
|
|
75.78 |
88.09 |
12.31 |
0.015 |
0.025 |
|
|
|
|
|
|
|
|
|
2007-12 |
196.90 |
50.90 |
194.15 |
143.26 |
0.058 |
0.097 |
|
|
Incl. |
81.38 |
155.76 |
74.38 |
0.067 |
0.112 |
|
|
or |
81.38 |
115.40 |
34.02 |
0.086 |
0.143 |
|
|
And |
150.89 |
155.76 |
4.87 |
0.094 |
0.157 |
|
|
or |
171.18 |
177.51 |
6.35 |
0.072 |
0.120 |
|
|
|
|
|
|
|
|
|
2007-13 |
185.02 |
54.97 |
185.02 |
130.01 |
0.054 |
0.090 |
|
|
Incl. |
87.48 |
126.00 |
38.52 |
0.076 |
0.127 |
|