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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 29, 2008
#08-06
Tenajon Commences
Mobilization of 2008 Drilling Program for the Moly Brook Molybdenum Project,
Newfoundland
Significant Two-Drill Program to Delineate and Expand
Existing Deposit
Tenajon
Resources Corp. (TSX-V: TJS) (the ?Company?) is pleased to announce that it has
begun mobilization of equipment to allow drilling to commence early this spring on its Moly Brook molybdenum
property. The two-drill program will consist of a minimum of
6,100
metres of
diamond drilling with the objectives of delineating the area of known
mineralization, along strike and down dip of the currently defined Moly Brook Zone (the ?zone?). The 2007 exploration program yielded significant success and showed that
Moly Brook has the potential to host a significant bulk tonnage open pitable
molybdenum deposit. The Moly Brook
property is located 2.5 km from the
hamlet of Grey River on the south coast of Newfoundland, less than 4
km from a deep water, ice free, navigable fjord.
Tenajon acquired the Moly Brook
property in April 2007 and, in November of last year, completed a
very successful 12 hole drill program
totaling 3,633 metres in length. 2007 drilling encountered consistent, near surface,
higher grade molybdenum intercepts over significant widths. The program extended the Moly Brook Zone to the north of the Moly Brook fault,
as well as to the south of historical drilling carried out by Royal Oak Mines
Inc. in the mid 1990?s. Based on
drilling to date, the zone has a strike length of approximately 750 metres and is open along strike and
dip. Width is variable to 400
metres with the ultimate width of the zone not determined as several of the
holes ended in significant mineralization. Significant historical drill results
on trend, approximately 2km to the
south of the Moly
Brook Zone, further highlight the size potential
of this deposit.
?Based on a very encouraging 2007 drill program, a
significant multi-drill follow up program is warranted in order to quickly delineate
the extent of the mineralized zone at Moly Brook,? said Bruce McLeod, President & CEO of Tenajon. ?In addition to encountering several
higher grade molybdenum intersections with very little overburden, we are
particularly encouraged by the size potential of the Moly Brook deposit.? Exploration by previous operators and company personnel has shown a
1.8 km long trend of molybdenum mineralization to extend southwards from the
Moly
Brook Zone. In 1964, Buchans Mining completed
two short packsack, small diameter drill holes at the south end of the
trend. Both holes intersected
anomalous molybdenum values with one of the holes averaging 0.057% Mo (0.095%
MoS2) over its entire length of 27.53 metres. The last 7.61 metres of the
hole averaged 0.118% Mo (0.197% MoS2). The Buchans drilling was completed
before the implementation of NI 43-101 and
Tenajon has no way of verifying the results In addition grab samples of
molybdenum bearing veins located approximately 1100 metres to the south of the zone
returned values of up to 0.297% Mo.
Some of these targets will be followed up on in the 2008 drill
program. Highlights of the 2007 drill
program are below while complete
results are attached at the end of this press
release.
Hole |
From (metres) |
To (metres) |
Interval
(metres) |
Mo (%) |
MoS2 (%) |
|
|
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 |
|
|
|
|
|
|
|
|
MB
2007-4 |
14.02 |
392.35 |
378.33 |
0.078 |
0.130 |
|
Incl. |
14.02 |
35.36 |
21.34 |
0.100 |
0.167 |
|
|
53.64 |
84.12 |
30.48 |
0.081 |
0.135 |
|
|
87.12 |
108.51 |
21.39 |
0.100 |
0.167 |
|
or |
53.64 |
108.51 |
54.87 |
0.085 |
0.142 |
|
and |
148.13 |
211.84 |
63.71 |
0.122 |
0.203 |
|
and |
248.72 |
276.15 |
27.43 |
0.091 |
0.152 |
|
and |
336.50 |
392.35 |
55.85 |
0.091 |
0.152 |
|
|
|
|
|
|
|
|
MB
2007-8 |
30.78 |
304.80 |
274.02 |
0.085 |
0.142 |
|
Incl. |
80.47 |
91.14 |
10.67 |
0.142 |
0.237 |
|
|
110.95 |
120.09 |
9.14 |
0.177 |
0.295 |
|
or |
74.37 |
291.39 |
217.02 |
0.097 |
0.162 |
|
Incl. |
182.88 |
291.39 |
108.51 |
0.125 |
0.208 |
|
|
|
|
|
|
|
|
MB07-09 |
165.48 |
265.48 |
100.48 |
0.055 |
0.092 |
|
Incl. |
195.35 |
231.95 |
36.60 |
0.087 |
0.145 |
|
|
295.05 |
311.20 |
13.11 |
0.051 |
0.083 |
|
At the Moly Brook Property molybdenite occurs
primarily along the rims of a series
of north trending, subvertical sheeted veins and fracture faces over an up to
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. Up to 3% combined pyrite and
chalcopyrite are commonly associated the
molybdenite.
A surface route has been established which has allowed a
dozer and excavator to travel from Grey River to the Moly Brook property so that
drilling will be able to proceed using tracked equipment to move the
drills. A camp is being established
and drilling is scheduled to commence in early April.
The work at Moly Brook was completed by Geoscott
Consultants under the supervision of Dave
Visagie, P. Geo., a Qualified Person as defined by NI
43-101.
At Moly Brook, drill core was sawn into halves with one
half being sent for analysis and the other kept for future reference. All samples were 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 Induced Couple Plasma (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.
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 Moly Brook Drill
Results
To accompany Tenajon
Resources News Release Dated February 29,
2008
Hole |
From (metres) |
To (metres) |
Interval
(metres) |
Mo (%) |
MoS2 (%) |
|
|
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 |
|
|
|
|
|
|
|
|
MB 2007-4 |
14.02 |
392.35 |
378.33 |
0.078 |
0.130 |
|
Incl. |
14.02 |
35.36 |
21.34 |
0.100 |
0.167 |
|
|
53.64 |
84.12 |
30.48 |
0.081 |
0.135 |
|
|
87.12 |
108.51 |
21.39 |
0.100 |
0.167 |
|
or |
53.64 |
108.51 |
54.87 |
0.085 |
0.142 |
|
and |
148.13 |
211.84 |
63.71 |
0.122 |
0.203 |
|
and |
248.72 |
276.15 |
27.43 |
0.091 |
0.152 |
|
and |
336.50 |
392.35 |
55.85 |
0.091 |
0.152 |
|
|
|
|
|
|
|
|
MB 2007-5 |
31.39 |
317.91 |
286.52 |
0.074 |
0.123 |
|
Incl. |
31.39 |
37.49 |
6.10 |
0.137 |
0.228 |
|
and |
55.78 |
83.21 |
27.43 |
0.095 |
0.158 |
|
or |
31.39 |
83.21 |
51.82 |
0.081 |
0.135 |
|
and |
128.93 |
152.10 |
23.17 |
0.099 |
0.165 |
|
|
208.18 |
317.91 |
109.73 |
0.085 |
0.142 |
|
Incl. |
238.65 |
272.19 |
33.54 |
0.106 |
0.177 |
|
and |
296.57 |
317.91 |
21.34 |
0.088 |
0.147 |
|
|
|
|
|
|
|
|
MB 2007-6 |
196.90 |
218.26 |
21.36 |
0.071 |
0.118 |
|
|
242.62 |
260.91 |
18.29 |
0.091 |
0.152 |
|
|
285.29 |
300.52 |
15.23 |
0.050 |
0.083 |
|
or |
196.90 |
300.58 |
103.68 |
0.046 |
0.077 |
|
|
|
|
|
|
|
|
MB 2007-7 |
81.07 |
101.94 |
20.87 |
0.064 |
0.107 |
|
|
131.97 |
145.08 |
13.11 |
0.055 |
0.092 |
|
|
190.80 |
206.96 |
16.16 |
0.056 |
0.093 |
|
|
255.42 |
283.77 |
28.35 |
0.038 |
0.063 |
|
Incl. |
280.11 |
283.77 |
3.66 |
0.124 |
0.207 |
|
|
|
|
|
|
|
|
MB 2007-8 |
30.78 |
304.80 |
274.02 |
0.085 |
0.142 |
|
Incl. |
80.47 |
91.14 |
10.67 |
0.142 |
0.237 |
|
|
110.95 |
120.09 |
9.14 |
0.177 |
0.295 |
|
or |
74.37 |
291.39 |
217.02 |
0.097 |
0.162 |
|
Incl. |
182.88 |
291.39 |
108.51 |
0.125 |
0.208 |
|
|
|
|
|
|
|
|
MB07-09 |
165.48 |
265.48 |
100.48 |
0.055 |
0.092 |
|
Incl. |
195.35 |
231.95 |
36.60 |
0.087 |
0.145 |
|
|
295.05 |
311.20 |
13.11 |
0.051 |
0.083 |
|
|
|
|
|
|
|
|
MB07-10 |
No Significant
Results |
|
|
|
|
|
|
|
|
MB07-11 |
205.74 |
227.08 |
21.34 |
0.054 |
0.090 |
|
|
|
|
|
|
|
|
MB07-12 |
206.09 |
242.62 |
36.58 |
0.055 |
0.092 |
|
Incl. |
209.09 |
220.37 |
11.28 |
0.104 |
0.173 |
|