Tenajon Resources Corp.
TSX VENTURE : TJS

Tenajon Resources Corp.

July 08, 2008 08:30 ET

Tenajon Announces High Grade Near Surface Results From Moly Brook, Newfoundland

Results Include 213.47 Metres Averaging 0.100% Molybdenum

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 8, 2008) - Tenajon Resources Corp. (TSX VENTURE:TJS) (the "Company" or "Tenajon") today announced that it has received the results for Holes MB-08-15 to MB-08-19 and the remainder of Hole MB-08-14 from it's Moly Brook Molybdenum Property, located on the south coast of Newfoundland.

Holes MB-08-15 to MB-08-19 were part of an initial 6100 metre Phase 1 drill program designed to test the along strike and dip extensions of the molybdenum mineralization outside of the central core of molybdenum mineralization previously identified. Due to the favorable results in the Phase 1 drill program the Company has commenced and is currently completing a 3050 metre Phase 2 drill program.

Holes MB-08-15, MB-08-17 and MB-08-19 were drilled to define the western limits of the Moly Brook Zone. Holes MB-08-14, MB-08-16 and MB-08-18 were completed to test the eastern third of the zone at depths of up to 300 metres below surface. All of the holes intersected widespread molybdenum values.

Hole MB-08-15 intersected a 360.37 metre section, commencing from surface, averaging 0.074% molybdenum. Within the intercept there is a 213.47 metre high grade section averaging 0.100% molybdenum, which correlates with a 222.50 metre intercept averaging 0.076% molybdenum located in Hole MB-08-13, 80 metres to the south. Hole MB-08-17, drilled to test the continuity of the high grade intercept in Hole MB-08-15, 80 to 130 metres up dip, intersected a 109.76 metre section averaging 0.054% molybdenum. Within the intercept, there are high grade sections of 15.25 and 18.3 metres respectively averaging 0.091% and 0.100% molybdenum. Hole MB-08-19, located 80 metres north of Hole MB-08-17 was drilled to test the along strike extension of the mineralization observed in Hole MB-08-17 and the up dip extension to the western half of Hole MB-07-2 (205metres averaging 0.078% molybdenum). Anomalous molybdenum values were encountered throughout the length of the hole, with the hole intersecting a 286.51 metre section averaging 0.044% molybdenum. Within the hole there are higher grade intercepts including a 67.05 metre section averaging 0.071% molybdenum that correlates well with a high grade intercept of 109.73 metres averaging 0.097% molybdenum located in hole MB-07-02.

"The Moly Brook property continues to deliver high grade, near surface results from this year's drill program," said Bruce McLeod, President & CEO of Tenajon. Mr. McLeod adds, "We have consistently seen wide intercepts of near surface molybdenum mineralization over a broad area. The Moly Brook deposit is demonstrating all the key ingredients of a potential bulk tonnage and open pittable deposit."

Hole MB-08-16 and MB-08-19 respectively tested at depth the eastern third of the Moly Brook Zone 100 and 180 metres along strike from Hole MB-08-14. Hole MB-08-14 intersected a 262.22 metre intercept averaging 0.074% molybdenum including a 76.49 metre high grade intercept averaging 0.131% molybdenum. Both holes intersected extensive zones of anomalous values up to 300 metres below surface. Hole MB-08-18 intersected a 246.98 metre section averaging 0.048% molybdenum. Within the intercept there are higher grade intersections including a 57.9 metre section averaging 0.061% molybdenum. Hole MB-08-16 intersected sections of 54.88 and 60.97 metres respectively averaging 0.065% and 0.053% molybdenum at depths of up to 300 metres below surface. The results for Holes MB-08-13 to MB-08-19 along with that from Hole MB-08-14 are reported at the end of this press release. For current drill hole locations along with detailed cross sections please view the accompanying maps:

http://www.tenajon.com/i/maps/MolyBrook/2008-07-08DHLocationMap.jpg

http://www.tenajon.com/i/maps/MolyBrook/2008-07-08Section.jpg

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. Drill moves are completed using tracked equipment.

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 depths to over 300 metres below surface. The zone is open to the north and south. Assuming a general sub vertical orientation to the zone the width is variable to 500 metres.

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 on 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.

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.



Table of Results for Moly Brook Property Holes MB-08-13 to MB-08-19

---------------------------------------------------------------------
Length From To Interval Mo MoS2
HOLE (m) (m) (m) (m) (m) (m)
---------------------------------------------------------------------
MB-08-13 410.67 1.53 410.67 409.14 0.061 0.102
---------------------------------------------------------------------
or 108.81 349.6 240.79 0.074 0.123
---------------------------------------------------------------------
inc 127.15 157.58 30.48 0.119 0.198
---------------------------------------------------------------------
inc 215.49 270.43 54.94 0.094 0.157
---------------------------------------------------------------------
inc 307.01 322.17 15.16 0.092 0.153
---------------------------------------------------------------------
inc 340.64 349.6 8.61 0.099 0.165
---------------------------------------------------------------------
386.28 404.57 18.29 0.071 0.118
---------------------------------------------------------------------

---------------------------------------------------------------------
MB-08-14 401.4 87.48 349 262.22 0.069 0.115
---------------------------------------------------------------------
inc 87.43 114.91 27.43 0.073 0.122
---------------------------------------------------------------------
or 200.03 337.5 137.47 0.092 0.153
---------------------------------------------------------------------
inc 200.03 276.52 76.52 0.131 0.218
---------------------------------------------------------------------
and 316.16 337.5 21.34 0.08 0.133
---------------------------------------------------------------------

---------------------------------------------------------------------
MB-08-15 1.5 361.89 360.37 0.074 0.123
---------------------------------------------------------------------
130.18 343.6 213.47 0.1 0.167
---------------------------------------------------------------------
or 151.52 239.94 88.42 0.118 0.197
---------------------------------------------------------------------
and 291.77 343.6 51.83 0.107 0.178
---------------------------------------------------------------------

---------------------------------------------------------------------
MB-08-16 215.55 276.52 60.97 0.053 0.088
---------------------------------------------------------------------
355.79 438.11 82.32 0.052 0.087
---------------------------------------------------------------------
inc 377.13 432.01 54.88 0.065 0.108
---------------------------------------------------------------------
or 377.13 386.28 9.15 0.156 0.26
---------------------------------------------------------------------
and 419.82 432.01 12.4 0.07 0.117
---------------------------------------------------------------------

---------------------------------------------------------------------
MB-08-17 72.56 182.32 109.76 0.054 0.09
---------------------------------------------------------------------
or 96.95 182.32 85.47 0.062 0.103
---------------------------------------------------------------------
inc 96.95 112.2 15.25 0.092 0.153
---------------------------------------------------------------------
and 139.63 182.32 42.59 0.074 0.123
---------------------------------------------------------------------
inc 139.63 157.93 18.3 0.1 0.167
---------------------------------------------------------------------

---------------------------------------------------------------------
MB-08-18 133.2 380.18 246.98 0.049 0.082
---------------------------------------------------------------------
inc 133.2 188.06 48.75 0.065 0.108
---------------------------------------------------------------------
212.45 264.33 51.88 0.056 0.093
---------------------------------------------------------------------
313.11 331.4 18.39 0.063 0.105
---------------------------------------------------------------------
355.79 380.18 24.4 0.065 0.108
---------------------------------------------------------------------

---------------------------------------------------------------------
MB-08-19 81.99 368.5 286.5 0.044 0.073
---------------------------------------------------------------------
inc 109.43 176.48 87.05 0.071 0.118
---------------------------------------------------------------------
or 109.43 124.66 15.23 0.1 0.167
---------------------------------------------------------------------
161.24 176.48 15.23 0.099 0.165
---------------------------------------------------------------------
280.11 301.45 21.34 0.065 0.108
---------------------------------------------------------------------

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