Columbia Yukon Explorations Inc.
TSX VENTURE : CYU

Columbia Yukon Explorations Inc.

January 09, 2007 10:34 ET

Columbia Yukon Explorations Inc.: Additional Significant Moly Assays Received

WEST VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 9, 2007) - Further to its news release of December 11, 2006, Columbia Yukon Explorations Inc. (the "Company") (TSX VENTURE:CYU) is pleased to announce that it has received assay results for 5 additional core holes of its recently completed 20-hole core drilling program on the Company's "Storie" molybdenum property located in northern British Columbia. The Storie Property lies south of the former Cassiar mine townsite and is accessible by paved highway to Cassiar and then 5 kilometres of all weather gravel road.

In its 2006 drilling program, the Company completed 5,000 metres of core drilling in 20 holes. The Company has now received assay results for 12 of the 20 drill holes. The Company will report the rest of the assays upon receipt and review; however, the results of the 5 additional drill holes are as follows:



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HOLE FROM TO INTERVAL INTERVAL Mo
Number (metres) (metres) (metres) (feet)(i) %
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ST06- 07 87 171 84 276 0.080
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ST06- 09 9 204 195 640 0.054
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ST06- 10 24 165 141 462 0.081
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ST06- 11 36 84 48 157 0.067
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STO6-12 18 123 105 344 0.066
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including 18 36 18 59 0.117
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(i)conversion factor: 1 metre equals 3.28 feet


Drill holes STO6-07 and ST06-10 were collared near the "Crone Fault" which is the footwall to the higher grade of mineralization intersected in the other holes. Drill holes ST06-11 and ST06-12 were drilled to test the potential for mineralization below the Fault and were successful in locating favorable mineralization below the Crone Fault.

As referred to in the Company's news releases of November 24 and December 11, 2006, the assay results for the first 7 drill holes were as follows:



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HOLE FROM TO INTERVAL INTERVAL Mo
Number (metres) (metres) (metres) (feet)(i) %
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ST06- 01 122 287 165 541 0.080
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ST06- 02 192 336 144 472 0.084
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STO6-03 162 297 135 443 0.087
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STO6-04 201 330 130 426 0.092
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ST06 -05 117 276 159 522 0.104
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ST06 -06 127 244 117 384 0.054
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STO6-08 33 219 186 610 0.098
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The intervals in the above table reflects a zone of mineralization greater than 0.04% Mo. All 12 holes intersected molybdenite mineralization from top to bottom. The results are similar in thickness and grade to the holes that were drilled by Shell Canada Resources Ltd. ("Shell") in 1979 and 1980.

The historical resource estimate for the Storie Property molybdenum deposit is 100,500,000 tonnes @ 0.077% Mo or 0.129 % MoS2. The resource calculated by Shell in 1981, is a historical resource and does not meet National Instrument 43-101 standards and as such can not be relied upon. The Company's Qualified Person, John Kowalchuk, P.Geo., has not reviewed the calculation for the historical resource; however, believes that it has been calculated by competent engineers to the standards of the period. The historical resource estimate was based on 86 drill holes, covering an approximate 1000-metre (3,280 feet) strike length, over a 300 to 400 metre (980 to 1,310 feet) width and to a vertical depth of 150 metres (492 feet).

The Company is very encouraged by its results to date and is planning an aggressive drill program of between 10,000 to 20,000 metres (33,000 to 65,000 feet) for 2007. The 2007 drill program will further test the strike extent of the mineralization, as well as the northern and southern structural and geophysical targets. In 2006, the Company raised in excess of $4.4 million for the Company's planned exploration of the Storie Property and has sufficient financing to conduct its intended 2007 program.

John Kowalchuk, P.Geo., has reviewed this release and is acting as the Qualified Person for this project.

For a map of the drill collar locations, please refer to this news release on our website.

Columbia Yukon Explorations Inc.

Ronald A. Coombes, President

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

Contact Information

  • Columbia Yukon Explorations Inc.
    Mr. Clive Shallow
    Investor Communications
    (604) 922-2030
    Website: www.columbiayukon.com