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Columbia Yukon
Explorations'
Perspectives
The November 16, 2007 Press Release
On November 16, 2007, Columbia
Yukon Explorations released the assay results from four holes
drilled in the 2007 program and updated results from a hole that was twinned
to demonstrate the potential reduction of assay results when core is split. This
is in addition to the assay results for nine holes reported on September 11,
2007 and seven holes reported on October 1, 2007. To date, assay results for
a total of 20 holes of the 76 holes drilled in 2007 have now been reported. Results
for 56 holes are pending and will be released as they become available.
Holes ST07-36 and ST07-38 are on the western edge of the resource. The
results are excellent and hole ST07-38 results are
nearer the surface which might indicate a different structure at work. Holes
ST07-37 and ST07-39 are located to the south and west of the resource and are
also significant. These positive results, in combination with the earlier
holes reported, increase the degree of confidence that the resource is as
good as or better than Watts Griffis & McOuat's NI 43-101 compliant Mineral Resource estimate of
an inferred resource of 101.6 million tonnes grading 0.112% MoS2 (0.067% Mo)
as reported in the Company's news release of July 5, 2007.
Of particular interest are the updated results from hole ST07-41. On October 1, 2007 the Company reported that it had twinned hole ST06-20 with hole ST07-41 in order to measure the
impact of the core splitting process on assay results. Because of the nature
of molybdenum and the host rock in which it usually occurs, there is a school
of thought that splitting the core results in a loss of molybdenum that
produces a lower grade on assay. Splitting the core is the generally accepted
industry standard because it preserves half the core for retesting assay
results should questions arise in the future. As a result, ST06-20 was
drilled, split and assayed in 2006. ST07-41, on the other hand, was drilled
in 2007 but not split prior to testing. The results reported on October 1st
and November 16th show the following:
Hole
#
From
To
Interval
Interval MoS2
(metres)
(metres)
(metres)
(feet)
(%)
ST06-20
27
114
87
285.4
0.093
ST07-41
23
101
78
255.8
0.125
ST07-41
23
101
78
256
0.140
The increase in grade from 0.125% MoS2 to 0.140% MoS2 reported on
November 16, 2007 resulted from check assays of over-limit ICP analyses
received since the October 1, 2007 release. ICP or Inductively Coupled Plasma
Emission Spectrometry is a method for providing grade estimates up to 2000
parts per million or 0.2% which is as high as the spectrometry reading
measures. The actual cut-off used was 300 ppm or 0.03%. As there were results
in excess of this cut-off, a check assay was done which ultimately resulted
in the higher grade. The initial increase to 0.125% from 0.093% MoS2 was an
improvement of 34.4% and the most recently revised grade of 0.140% MoS2 is an
increase of 50.5%. Although the amount of data is insufficient to draw any
conclusions from this single test, the Company has twinned additional holes
that were first drilled in 2006 and these additional results will be reported
as they are received.
This is a summary only and, accordingly, we refer you to the Company's
news release of November 16, 2007 for more complete information and details.
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