Tenajon Resources Corp.
TSX VENTURE : TJS

Tenajon Resources Corp.

January 15, 2008 08:30 ET

Tenajon Intersects More High Grade Molybdenum Values at Moly Brook Including 0.125% Molybdenum (Mo) over 108.51 Metres and 0.122% Mo over 63.71 Metres

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 15, 2008) - Tenajon Resources Corp. (TSX VENTURE:TJS) (the "Company") is pleased to announce that assay results have been received for five additional holes from the recently completed 12 hole drill program at its Moly Brook Property located on the south coast of Newfoundland. Hole MB 07-8 intersected a 217.02 metre section averaging 0.097% Mo (0.162% MoS2). Within the intercept is a 108.51 metre intercept averaging 0.125% Mo (0.208% MoS2). Hole MB 07-4 intersected 378.33 metres averaging 0.078% Mo (0.130 MoS2). Within the section are several intersections grading better than 0.100% Mo including a 63.71 metre intercept averaging 0.122% Mo (0.203% MoS2). The latest results extend the Moly Brook Zone to a strike length in excess of 500 metres with significant mineralization being encountered over a 300 metre elevation. Results for the final four holes are pending. In addition, the Company has reviewed historical reports from the property which show two short holes located 1.8 kilometers on trend to the south from the Moly Brook Zone intersected molybdenum values. Results included a 27.43 metre long hole averaging 0.057% Mo with the last 7.61 metres averaging 0.118% Mo (non 43-101 compliant).

"The 2007 drill campaign has resulted in consistent near surface, high grade molybdenum intercepts over significant widths, showing that the Moly Brook deposit has the potential to host a significant bulk tonnage molybdenum deposit. Significant historical drill results on trend and approximately 2km to the south of the Moly Brook Zone further highlight the size potential of this molybdenum deposit," said Bruce McLeod, President & CEO of Tenajon. "This acquisition has proved to be a valuable asset for Tenajon and complements the Ajax Molybdenum deposit which hosts an inferred resource of 448 million tonnes averaging 0.063% molybdenum (623.4 million pounds) and an indicated mineral resource of 38.8 million tonnes averaging 0.064% molybdenum (56.4 million pounds). We are currently in the planning phase of a multi-drill follow up program on Moly Brook which is to commence early this Spring."

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. Holes MB 07-4 through 8 tested the Moly Brook Zone on strike from Holes MB 07-2 and 3. Hole MB 07-7 tested the northern extension of the eastern portion of the Moly Brook Zone north of the Moly Brook Fault. All of the holes intersected similar styles of mineralization over varying widths. In part due to capacity of the drill rigs, some of the holes ended while in significant molybdenum mineralization. The latest results are summarized below, while complete results for the latest 8 drill holes are attached at the end of this press release.



-------------------------------------------------------------------
Length From To Interval Mo MoS2
Hole (metres) (metres) (metres) (metres) (%) (%)
-------------------------------------------------------------------
MB 2007-4 392.35 14.02 392.35 378.33 0.078 0.130
-------------------------------------------------------------------
inc 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 336.5 392.35 55.85 0.091 0.152
-------------------------------------------------------------------

-------------------------------------------------------------------
MB 2007-5 317.91 31.39 317.91 285.52 0.074 0.123
-------------------------------------------------------------------
Inc 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 128.93 152.1 23.17 0.099 0.165
-------------------------------------------------------------------
208.18 317.91 109.73 0.085 0.142
-------------------------------------------------------------------
Inc 238.65 272.19 33.54 0.106 0.177
-------------------------------------------------------------------
And 296.57 317.91 21.34 0.088 0.147
-------------------------------------------------------------------

-------------------------------------------------------------------
MB 2007-6 303.58 196.9 218.26 21.36 0.071 0.118
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242.62 260.91 18.29 0.091 0.152
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285.29 300.52 15.23 0.050 0.083
-------------------------------------------------------------------
Or 196.9 300.58 103.68 0.046 0.077
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-------------------------------------------------------------------
MB 2007-7 283.77 81.07 101.94 20.87 0.064 0.107
-------------------------------------------------------------------
131.97 145.08 13.11 0.055 0.092
-------------------------------------------------------------------
190.8 206.96 16.18 0.056 0.093
-------------------------------------------------------------------
255.42 283.77 28.35 0.038 0.063
-------------------------------------------------------------------
inc 280.11 283.77 3.66 0.124 0.207
-------------------------------------------------------------------

-------------------------------------------------------------------
MB 2007-8 307.85 30.78 304.8 274.02 0.085 0.142
-------------------------------------------------------------------
inc 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
-------------------------------------------------------------------
inc 182.88 291.39 108.51 0.125 0.208
-------------------------------------------------------------------


The results to date show the Moly Brook Zone hosts significant molybdenum values over a 550 metre strike length with the zone being open on strike and to depth. Hole MB 07-7 intersected molybdenum values north of the Moly Brook Fault with anomalous values occurring throughout the last 200 metres. Hole MB 07-08 is the deepest test of the Moly Brook Zone to date. Incorporating the results of Hole MB 07-2 with those of Hole MB 07-8, the deposit shows high grade molybdenum values have been encountered at the Moly Brook Zone over 300 metres in vertical distance. The ultimate width of the zone has not been determined as several of the holes ended in significant mineralization. A drill plan can be found by following the enclosed link: http://www.ccnmatthews.com/docs/TENAmap115.JPG.

A recent review of assessment reports shows Buchans Mining Corp. drilled two pack sack drill holes into a series of molybdenum bearing quartz veins located approximately 1.8 kilometers to the south of the Moly Brook Zone. These veins appear to be on trend with the a series of molybdenum bearing quartz veins located 800 metres to the north, just south of Long Pond where previous sampling by the Company returned values of up to 0.297% molybdenum in grab samples. The historic results are summarized below.



------------------------------------------------------------------
Length From To Interval Mo MoS2
Hole (metres) (metres) (metres) (metres) (%) (%)
------------------------------------------------------------------
GR-18 30.48 0 30.48 30.48 0.046 0.077
------------------------------------------------------------------
or 3.05 25.92 22.87 0.052 0.087
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------------------------------------------------------------------
GR-19 27.53 0 27.43 27.43 0.057 0.095
------------------------------------------------------------------
inc 7.62 27.43 19.81 0.066 0.110
------------------------------------------------------------------
or 19.82 27.43 7.61 0.118 0.197
------------------------------------------------------------------


Historic exploration data was collected before the introduction of NI 43-101, and is presented for information purposes only. The Company has no way of verifying the results. Investors are cautioned that recent independent verification has not been completed and the historical data should not be relied upon.

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 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 Induced Couple Plasma (ICP). 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 15, 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 182.58 391.97 209.73 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 336.5 392.35 55.85 0.091 0.152
------------------------------------------------------

------------------------------------------------------
MB 2007-5 31.39 317.91 285.52 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 128.93 152.1 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 2007-6 196.9 218.26 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 196.9 300.58 103.68 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
------------------------------------------------------
190.8 206.96 16.18 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 30.78 304.8 274.02 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
------------------------------------------------------


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Tenajon Resources Corp.
    D. Bruce McLeod
    President
    (604) 687-7545 or Toll Free: 1-888-338-2200
    (604) 689-5041 (FAX)
    Email: info@northair.com
    Website: www.tenajon.com