Thursday 1st December 2022 Font size:

Tenajon Resources Corp

Thursday, September 13th, 2007

Tenajon Resources Corp announce the results for the first three diamond drill holes from the 2007 exploration program at its Ajax Molybdenum Property. The Ajax Molybdenum Property is located near Kitsault, northwestern British Columbia. Results include a 109.49 metre intercept averaging 0.126% Mo from the westernmost drill hole completed to date within the deposit. The 2007 diamond drill program is designed to:
1. Improve confidence in near surface mineralized zones;
2. Convert resources from the inferred to the measured and indicated category;
3. Test the theory which suggests that the grade of the deposit may have been underreported due to the orientation of most of the drill holes completed during previous drilling campaigns.
The Ajax Property hosts one of North America’s largest undeveloped molybdenum deposits. At a 0.040% Mo cut-off the deposit hosts inferred resources of 448.8 million tonnes grading 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 of molybdenum is approximately US$32.125/lb.
Prior to the commencement of the 2007 drill program the Company contracted Dr. N. C. Carter, P. Eng., one of Canada’s foremost experts on porphyry molybdenum deposits, to undertake a review of the Ajax Property. In Carter’s study he states “The previous work on the Ajax Property suggests an area of enhanced grade may be related to an east-northeast trending fault zone near the northern limits of the current molybdenum zone.” According to Carter this concept was originally proposed by Newmont geologists in 1966 but was not acted upon. Furthermore he concluded “Most of the holes completed on the Ajax Property have been inclined holes drilled on west southwest orientations essentially parallel to zones thought to contain enhanced molybdenum grades. A review of the results to date suggests that intervals of better molybdenum grade are contained in holes drilled within 100 metres of the east northeast fault zone.”
Holes, 2007-1 to 3, tested a 300 metre long section of the deposit at 150 metre intervals which was identified as potentially hosting higher grade molybdenum values as proposed by Dr. Carter. All three holes intersected extensive sections hosting anomalous molybdenum values adjacent to fault zones. The results are summarized below.
Hole, Length(m), From(m), To(m), Interval(m), Mo(%), MoS2 %
2007-1 313.64 109.42 287.14 177.72 0.056 0.093
Incl. 149.35 283.16 131.24 0.064 0.107
2007-2 294.14 103.99 217.44 113.45 0.050 0.083
Incl. 153.93 187.45 33.52 0.067 0.112
2007-3 260.61 3.05 239.27 236.22 0.091 0.152
Incl. 21.29 44.20 22.91 0.098 0.163
and 129.78 239.27 109.49 0.126 0.210
Hole 2007-1 is the easternmost hole drilled, hole 3 the westernmost. The results show the zone continues to be open along strike and dip. Additional drilling is ongoing to further define the above trend and other areas of potential high grade molybdenum within the Ajax Deposit.
The work at Ajax is being completed by Apex Geoscience under the supervision of Dave Visagie, P. Geo., a Qualified Person as defined by NI 43-101.
At Ajax, drill core is sawn into halves with one half being sent for analysis the other kept for future reference. All samples are prepared and analyzed at Acme Analytical Labs using a four acid digestion with analysis by Induced Couple Polarization. A stringent program of check, blank and duplicate sampling is employed throughout with duplicates standards and blanks being entered into the sample stream at regular intervals In addition a limited amount of samples were sent to ALS Chemex to determine the reproducibility of the results between labs.

< go back