VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 3, 2008) - Tenajon Resources Corp. (TSX VENTURE:TJS) (the "Company") is pleased to announce that assay results have been received for Hole MB 07-3 from the recently completed 12 hole drill program at its Moly Brook Property located on the south coast of Newfoundland. Hole MB 07-3 intersected a 207.26 metre section averaging 0.084% molybdenum (0.140 MoS2) including a 67.06 metre intercept averaging 0.138% molybdenum (0.230 MoS2). The hole extends the eastern high grade portion of the Moly Brook Zone to a depth of 150 metres below surface with the zone open along strike and down dip. To date, assay data for three drill holes have been reported and the results of nine drill holes are pending.
"Results from the first drill holes have successfully tested a section of the Moly Brook deposit over both width and depth with the zone demonstrating excellent continuity. Results show that Moly Brook has the potential to host a significant bulk tonnage molybdenum deposit. In addition, both current and historic drilling indicate that molybdenum mineralization occurs near surface with very little overburden," said Bruce McLeod, President & CEO of Tenajon. Mr. McLeod adds, "Moly Brook also benefits from being located in a mining friendly district with very good nearby infrastructure including being situated 2.5 km from the Hamlet of Grey River, less than 4 kilometres from a deep water, ice free navigable fjord on the southern coast of Newfoundland."
In 2007, Tenajon completed twelve holes totaling 3,633 metres in length at Moly Brook. The holes tested the target zone over 750 metres of strike length. Hole MB 07-2 successfully tested the up dip extension of the mineralization in Royal Oak hole 95-01 and the along strike extension to that in Royal Oak hole 95-04. Results included a 373.08 metre intercept averaging 0.066% Mo. Within this intercept there is a 109.73 metre section averaging 0.097% Mo, corresponding with the western high grade portion of the Moly Brook Zone, and a 21.34 metre section averaging 0.133% Mo occurring in the eastern half. Hole MB 07-3 tested the eastern half of the Moly Brook Zone approximately 75 metres below Royal Oak hole 95-01. Due to the limited depth capacity of the drill, the western portion of the Moly Brook Zone as intersected in Hole MB 07-2 could not be tested at depth. Hole MB 07-3 intersected similar style mineralization with the intersections being wider and higher grade than those in holes MB 07-2 and Royal Oak hole 95-01. The results for hole MB 07-3 are summarized below, while additional assay results for the recently completed drill program are attached.
----------------------------------------------------------------------- Length From To Interval Mo MoS2 Hole (metres) (metres) (metres) (metres) (%) (%) ----------------------------------------------------------------------- MB 07-3 315.16 107.90 315.16 207.26 0.084 0.140 ----------------------------------------------------------------------- Incl. 132.28 244.15 111.87 0.108 0.180 ----------------------------------------------------------------------- or 150.57 217.63 67.06 0.138 0.230 ----------------------------------------------------------------------- Hole MB 07-3 demonstrates that mineralization intersected in Royal Oak hole 95-01 can be traced from surface to in excess of 150 metres below surface with the zone being open in all directions. Overall there is a good correlation of results between Royal Oak hole 95-01 (204.81 metres of 0.061% Mo - non 43-101 compliant) and MB 07-2 (109.73m of 0.097% Mo). For current drill hole locations along with a detailed cross section, please view the accompanying maps:
To view maps please click on the following link: http://www.ccnmatthews.com/docs/TJS0103.pdf
At the Moly Brook Property molybdenite occurs primarily along the rims of a series of north trending, subvertical sheeted veins and fracture faces over a 450 x 1,100 metre area. On occasion quartz vein stockwork is formed with molybdenite occurring in all of the vein orientations. Molybdenite also occurs as disseminations within the intrusion. The style of mineralization appears to be similar to that at Thompson Creek Metal's Endako Mine in British Columbia where the majority of molybdenite occurs within a sheeted vein and fracture system. Soil sample results, using the 25 ppm Mo in soil contour, outlines a 1,200 metre long and up to 700 metre wide anomaly. Coincidental with the soil anomaly is a 1,500 metre long and up to 800 metre wide zone of high chargeability, as defined by I.P. surveying.
The work at Moly Brook was completed by GeoScott Exploration Consultants under the supervision of Dave Visagie, P. Geo., a Qualified Person as defined by NI 43-101.
At Moly Brook, drill core is sawn into halves with one half being sent for analysis and the other kept for future reference. All samples are prepared at Eastern Analytical using a 600 gram split with the resultant pulp being analyzed at Acme Analytical Labs using a 4 acid digestion with analysis by Inductively Coupled Plasma Mass Spectrometry (ICP-MS). 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.
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.
2007 Moly Brook Drill Results To accompany Tenajon Resources News Release Dated January 3, 2008 -------------------------------------------------------------------- From To Interval Mo MoS2 Hole (metres) (metres) (metres) (%) (%) -------------------------------------------------------------------- MB 07-1 4.27 7.32 3.05 0.037 0.062 -------------------------------------------------------------------- and 46.93 62.17 15.24 0.029 0.048 -------------------------------------------------------------------- and 119.48 123.13 3.65 0.048 0.080 -------------------------------------------------------------------- -------------------------------------------------------------------- MB 07-2 18.89 391.97 373.08 0.066 0.110 -------------------------------------------------------------------- Incl. 18.89 40.23 21.34 0.134 0.227 -------------------------------------------------------------------- and 226.16 335.89 109.73 0.097 0.162 -------------------------------------------------------------------- or 182.58 391.97 209.39 0.077 0.128 -------------------------------------------------------------------- -------------------------------------------------------------------- MB 07-3 107.90 315.16 207.26 0.084 0.140 -------------------------------------------------------------------- Incl. 132.28 244.15 111.87 0.108 0.180 -------------------------------------------------------------------- or 150.57 217.63 67.06 0.138 0.230 --------------------------------------------------------------------
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