Tenajon Resources Corp.
TSX VENTURE : TJS

Tenajon Resources Corp.

October 15, 2008 08:30 ET

Tenajon Announces Drill Results, Extends Drill Program at Moly Brook Property

Drill Results Include 54.88 metres averaging 0.091% Molybdenum

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 15, 2008) - Tenajon Resources Corp. (TSX VENTURE:TJS) (the "Company" or "Tenajon") today announced it has received the results for five additional diamond drill holes at its Moly Brook Molybdenum Property, located on the south coast of Newfoundland. The Company is also extending the program by drilling two additional holes totaling 915 metres in order to complete a mineral resource inventory.

The latest drill holes were part of a 10,000 metre drill program designed to determine the limits of the Moly Brook Zone and test along strike to the south and width of the zone including dip extensions of the molybdenum mineralization outside of the central core of molybdenum mineralization previously identified on the property.

Holes MB08-34 and MB08-36 were scissor holes drilled to confirm the orientation of the eastern half of the Moly Brook Zone. Both holes intersected molybdenum bearing sections, validating the Company's interpretation of the zone. Hole MB08-34 intersected a 97.56 metre section averaging 0.072% molybdenum. Within the section is a high grade intercept averaging 0.091% molybdenum over 54.88 metres. The zone corresponds with a 94 metre section averaging 0.088% molybdenum intersected in Hole FC95-01. Hole MB08-36 intersected a 33.54 metre section averaging 0.039% molybdenum that corresponds with a 30.48 metre section averaging 0.040% molybdenum intersected in Hole MB08-22. In addition, Hole MB08-22 intersected a 51.83 metre section averaging 0.057% molybdenum. The intersection occurs 250 metres to the east of a 106.72 metre section averaging 0.045% molybdenum intersected in Hole MB08-22. The intersection confirms the Company's interpretation that the zone is deepening to the south. Hole MB08-28 was drilled above Hole MB08-22 to test whether the grade of molybdenum mineralization increased up dip. The hole intersected similar grade material over narrower widths. The results appear to show the zone increasing in grade and width with depth. Hole MB08-32, drilled to test the up dip continuity of the lowermost section of the mineralization intersected in Hole MB08-29 (210.37 metres averaging 0.054% molybdenum), intersected anomalous molybdenum values to 151.52 metres that correspond with the projection of the zone. Included are sections of 24.3 and 15.24 metres respectively averaging 0.033 and 0.034% molybdenum. Hole MB08-35, drilled to test the up dip continuity of the zone intersected in Hole MB08-17 (109.76 metres averaging 0.054% molybdenum), intersected anomalous molybdenum values 0.01 to 0.027%, corresponding with the projection of the zone.

The Moly Brook Zone is one of three zones of molybdenum mineralization located within a 2.2 km long trend. The zone is located on the north side of Long Pond, the Wolf and the Chimney Zones are to the south. Long Pond lies along an east-west fault. It is interpreted that the fault has resulted in the southern bloc being shifted upwards resulting in molybdenum values occurring at surface at the Wolf and Chimney Pond Zones. The Wolf Pond Zone is located 800 metres south of the Moly Brook Zone. Recent sampling and mapping at the Wolf Pond Zone has identified molybdenum within a sheeted quartz vein system within a 200 metre long by up to 250 metre wide zone. Sixty-three grab, channel and chip samples were initially collected from outcrop and sub crop. Thirty-two of the samples assayed greater than 0.050% molybdenum with grab samples assaying up to 0.22% molybdenum while channel and chip samples respectively assayed up to 0.122% molybdenum over 2.5 metres and 0.191% molybdenum over 3 metres. Additional channel and chip sampling has been completed with the results pending.

The Chimney Pond Zone is located 1.5 km south of the Moly Brook Zone. Previous work in the 1960's outlined an extensive molybdenum in soil anomaly. Both pack sack holes drilled into the zone intersected widespread molybdenum values with one of the holes averaging 0.057% molybdenum over its 27.44 metre length with the last 7.62 metres averaging 0.118% molybdenum.

For current drill hole locations along with detailed cross sections please view the accompanying maps:

http://www.tenajon.com/i/maps/MolyBrook/2008-10-14DHLocationMap.jpg

http://www.tenajon.com/i/maps/MolyBrook/2008-10-14SectionE.jpg

http://www.tenajon.com/i/maps/MolyBrook/2008-10-14SectionF.jpg



The following is a listing of the results for the holes reported above.

----------------------------------------------------------
Length From To Int. Mo MoS2
Hole (m) (m) (m) (m) (%) (%)
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MB08-28 447.00 17.380 26.520 9.14 0.059 0.098
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117.99 121.04 3.05 0.176 0.292
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224.7 279.57 54.87 0.036 0.060
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224.7 236.89 12.19 0.082 0.136
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MB08-32 240.50 32.62 47.87 15.25 0.024 0.040
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72.26 96.65 24.3 0.033 0.055
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90.55 96.65 6.10 0.067 0.111
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136.28 151.52 15.24 0.034 0.056
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148.48 151.52 3.04 0.092 0.153
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----------------------------------------------------------
MB08-34 356.22 12.8 229.27 216.50 0.048 0.080
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52.44 229.27 173.80 0.054 0.090
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98.17 153.05 54.88 0.091 0.151
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98.17 119.51 21.34 0.127 0.211
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MB08-35 167.07
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MB08-36 414.94 21.65 30.79 9.14 0.044 0.073
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171.04 189.33 18.29 0.062 0.103
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204.57 222.87 18.30 0.036 0.060
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296.04 347.87 51.83 0.051 0.085
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296.04 317.38 21.34 0.059 0.098
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378.35 387.5 9.15 0.057 0.095
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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. The community is serviced daily by provincial ferries. For the duration of the program the crew is operating out of a recently established 25 person camp, centrally located on the property.

The Moly Brook Zone is located at the north end of a 2.5 km long trend of sheeted quartz veining, stockwork and fracturing in which molybdenum occurs. At the Moly Brook Zone drilling has intersected molybdenum within sheeted quartz veins, in quartz vein stockwork and along fracture faces. Drilling has traced the zone along strike for 750 metres to depths of up to 300 metres below surface. The zone is open to the north and south and at depth. Assuming a general sub vertical orientation to the zone, the width is variable to 500 metres. Based on the data, the zone appears to be oval shaped. The central portion of the zone is exposed on surface while the western portion dips under cover.

The drill program at Moly Brook is being 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 Accurassay Labs' prep facility in Gambo, Newfoundland using a 600 gram split with the resultant pulp being analyzed at Accurassay Labs, Thunder Bay, Ontario using a 4 acid digestion with analysis by Induced Couple Polarization (ICP). A stringent program of check, blank and duplicate sampling is employed.

The Company would like to thank the Government of Newfoundland and Labrador for provincial financial assistance through its Mineral Incentive Program. The funds have been used to help complete the exploration program at its Moly Brook Property.

On Behalf of the Board of Directors

TENAJON RESOURCES CORP.

D. Bruce McLeod, President

Cautionary Statement Regarding Forward-Looking Information

All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.

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

Contact Information

  • Tenajon Resources Corp.
    Bruce McLeod
    Investor Contact
    (604) 687-7545
    (604) 689-5041 (FAX)
    or
    Tenajon Resources Corp.
    Chris Curran
    Investor Contact
    (604) 331-2288
    Website: www.tenajon.com