Tenajon Resources Corp.
TSX VENTURE : TJS

Tenajon Resources Corp.

December 15, 2008 09:00 ET

Tenajon Announces Results for the Final Three Holes and the Completed Trenching Program at Moly Brook

Drill Results Include 76.22 metres averaging 0.091% Molybdenum Trench Results Include 75 metres averaging 0.105% Molybdenum

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2008) - Tenajon Resources Corp. (TSX VENTURE:TJS) (the "Company" or Tenajon) today announced that it has received the final exploration results from the 2008 program at its Moly Brook Molybdenum Property located on the south coast of Newfoundland.

Hole MB08-37 was an infill hole located between Hole 95-01 (204 metres averaging 0.061% molybdenum including 94 metres averaging 0.080% molybdenum) and Hole MB 07-4 (378.33 metre section averaging 0.078% molybdenum including 63.71 metres averaging 0.122 molybdenum and 52.45 metres averaging 0.093% molybdenum). Hole MB08-37 intersected a 365.86 metre section averaging 0.060% molybdenum. Within this section there are higher grade intercepts including sections of 70.12, 24.39 and 21.34 metres respectively averaging 0.079%, 0.083% and 0.084% molybdenum.

Hole MB08-38 was located 40 metres north of Hole MB 07-4, and 50 metres south of Hole MB 07-7. Hole MB07-7, drilled largely within the Moly Brook Fault Zone, intersected several narrow molybdenum bearing sections including intercepts of 20.87 and 16.14 metres respectively averaging 0.064% and 0.056% molybdenum. In addition to testing the along strike continuity of the zone, Hole MB08-38 tested in part the down dip continuity of the zone intersected in Hole MB07-8 (247 metres averaging 0.085% molybdenum). Hole MB 08-38 intersected a 350.65 metre section averaging 0.059% molybdenum. Within the intercept there are higher grade intersections including a 76.22 metre section averaging 0.091% molybdenum.

Hole MB08-39 was located 45 metres north of Hole 96-06 (100 metres averaging 0.044% molybdenum including 68 metres averaging 0.050% molybdenum) and 55 metres south of Hole MB07-5 (285 metres averaging 0.074% molybdenum). The western portion of Hole 08-39 tested the down-hole continuity of the zone interested in Hole MB 08-13 (409 metres averaging 0.060% molybdenum including a 54.94 metre section averaging 0.094% molybdenum).

Hole MB 08-39 intersected a 381.1 metre section averaging 0.044% molybdenum. Within the intersection are higher grade intersections including 57.92, 12.19 and 60.97 metre sections respectively averaging 0.066%, 0.162% and 0.069% molybdenum. The drilling has shown the Moly Brook Zone to exhibit good continuity along strike and at depth. The results for the final three holes are summarized below.



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Length From To Int. Mo MoS2
Hole (m) (m) (m) (m) (%) (%)
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MB 08-37 495.12 37.8 403.66 365.86 0.060 0.100
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inc 37.8 86.59 48.79 0.068 0.113
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or 37.80 50.00 12.2 0.093 0.155
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and 77.44 86.59 9.15 0.085 0.142
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or 132.32 324.39 192.07 0.068 0.113
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inc 132.32 202.44 70.12 0.079 0.132
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and 226.83 251.22 24.39 0.083 0.138
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and 272.56 293.9 21.34 0.084 0.140
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MB 08-38 473.78 46.95 443.29 396.34 0.055 0.092
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or 86.59 440.24 350.65 0.059 0.098
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inc 144.51 391.96 247.45 0.070 0.117
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or 144.51 293.90 148.49 0.078 0.130
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and 217.68 293.90 76.22 0.091 0.152
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and 315.24 330.49 15.25 0.093 0.155
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MB 08-39 511.59 100.00 481.10 381.10 0.044 0.073
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inc 209.76 267.68 57.92 0.066 0.110
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or 209.76 218.90 9.14 0.093 0.155
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and 255.49 267.68 12.19 0.162 0.270
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and 307.32 316.44 9.14 0.076 0.127
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inc 368.29 481.15 112.81 0.061 0.102
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or 377.44 438.41 60.97 0.069 0.115
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and 456.71 475.00 24.39 0.074 0.123
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In 2008, 4 backhoe trenches, totaling 651 metres in length, were completed across portions of the Moly Brook Zone at approximately 100 metre intervals between 105N and 108N. The purpose of the program was to determine whether the mineralization intersected in several drill holes projected to surface. In all cases the length of the trenches was determined by topographic conditions. Trenches 106N, 107N and 108N intersected widespread molybdenum values. The most northerly and lowermost trench, 108N, intersected a 156 metre section averaging 0.072% molybdenum of which 21 metres had to be assigned a grade of 0% molybdenum as the trench was water covered. Within the intercept there is a 75 metre section averaging 0.105% molybdenum. Trench 107N located 100 metres to the south intersected a 75 metre section averaging 0.060% molybdenum including a 21 metre section averaging 0.081% molybdenum. Trench 106N intersected anomalous molybdenum values throughout its length including a 36 metre section averaging 0.067% molybdenum in which there is an 18 metre section averaging 0.100% molybdenum. Anomalous, greater than 0.020%, molybdenum values were still being intersected at the western end of all three trenches. In addition anomalous molybdenum values were intersected at the eastern end of Trench 106N with the easternmost sample assaying 0.059% molybdenum with 0.16% copper. Trench 105N intersected narrow sections containing 0.01-0.04% molybdenum with the best section being a 3 metre zone assaying 0.040% molybdenum with 0.37% copper. Trench 105N is interpreted to be located to the west of and the main trend of surface mineralization. Limited rock chip sampling has identified anomalous molybdenum values in outcrop to Line 104N along the main trend of molybdenum values with seven of twelve grab samples assaying greater than 0.050% molybdenum to a maximum value of 0.650% molybdenum. The results of the trenching program are summarized below.



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Length From To Int. Mo MoS2 Cu
Trench (m) (m) (m) (m) (%) (%) (%)
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105N 204 108W 114W 6 0.023 0.038 less than
0.010
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141W 147W 6 0.025 0.042 0.358
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106N 129 0W 9W 9 0.035 0.058 0.140
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33W 39W 6 0.030 0.050 0.130
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93W 129W 36 0.067 0.112 0.100
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102W 120W 18 0.100 0.167 0.120
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102W 117W 15 0.109 0.182 0.130
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120W 129W 9 0.037 0.062 0.103
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107N 141 3W 9W 6 0.002 0.003 0.065
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18W 24W 6 0.076 0.127 0.073
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39W 114W 75 0.060 0.100 0.016
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69W 114W 45 0.065 0.108 0.123
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93W 114W 21 0.081 0.135 0.164
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114W 126W 12 0.025 0.042 0.263
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126W 132W NS (i) (i) (i)
--------------------------------------------------------------------------
132W 141W 9 0.022 0.037 0.116
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108N 177 12W 21W 9 0.020 0.033 0.098
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21W 177W 156 0.072 0.120 0.157
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33W 108W 75 0.105 0.175 0.240
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33W 72W 39 0.130 0.217 0.274
--------------------------------------------------------------------------
48W 72W 24 0.168 0.280 0.265
--------------------------------------------------------------------------
108W 129W NS (i) (i) (i)
--------------------------------------------------------------------------
129W 177W 48 0.063 0.105 0.107
--------------------------------------------------------------------------
(i) not sampled due to water


The Moly Brook Zone is one of three zones of molybdenum mineralization located within a 2.5 km long trend that also includes the Wolf and Chimney Pond Zones. Within the zones molybdenum occurs within sheeted and quartz vein stockwork and along fracture faces. At the Moly Brook Zone sheeted quartz veining is dominant at the higher elevations passing into stockwork at depth. Drilling at the Moly Brook Zone has traced the zone along strike for 750 metres to depths of up to 320 metres below surface. The zone is open along strike and at depth. Width is variable to 500 metres. Overall the zone appears to be oval shaped. The northern portion of the zone surfaces with the plunge of the zone being to the south.

The Moly Brook Zone is located north of Long Pond while the Wolf and Chimney Ponds are located to the south. Long Pond lies along an east-west fault. It is interpreted that the fault has resulted in the southern block being shifted upwards resulting in molybdenum values occurring within sheeted veining similar to that at the higher elevations on the Moly Brook Zone.

The Wolf Pond Zone is located 800 metres south of the Moly Brook Zone. Sampling and mapping at the Wolf Pond Zone has identified a 270 metre wide x 200 metre long zone of sheeted, molybdenum bearing, quartz veining. In 2008 96 grab, chip and channel samples were collected from the zone of which 40 returned values in excess of 0.05% molybdenum. Grab samples assay up to 0.220% molybdenum while chip sample results include 3, 2.5 and 3 metre samples respectively assaying 0.191%, 0.204% and 0.148% molybdenum. Channel sample results include 2.5 and 3 metre samples assaying 0.122% and 0.185% molybdenum. The Wolf Pond Zone has never been drilled.

The Chimney Pond Zone is located approximately 600 metres south of the Wolf Pond Zone. In the 1960's, work at the Chimney Pond Zone outlined a molybdenum in soil anomaly approximately 400 metre long by 300 metre wide. Results of two packsacks drill holes, which tested the zone, intersected anomalous molybdenum values throughout their entire length 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. This historic data was collected before the implementation of NI-43-101 and is presented only for information purposes. The Company has no way of verifying the results. Investors are cautioned that recent independent verification has not been completed and the historical results cannot be relied upon. In 2008 limited sampling was completed within the boundaries of the soil anomaly. Of the ten samples collected, four returned assays in excess of 0.050% molybdenum. Grab samples assayed up to 0.087% molybdenum while channel sample results include a 3 metre sample assaying 0.057% molybdenum.

Limited sampling completed between Chimney and Wolf Ponds has returned encouraging results with grab samples assaying up to 0.146% molybdenum with chip sample results including a two metre sample assaying 0.030% molybdenum.

Please follow the link below to view a map identifying the Moly Brook trenching area for the 2008.

http://www.tenajon.com/i/maps/MolyBrook/2008-12-15TrenchMap.jpg

Presently all of the data is being compiled. A preliminary resource calculation is expected to be completed in the first quarter of 2009.

The Company also announces that Mr. Reginald J. Stranks has retired as a Director of the company. "The Board of Directors and management of Tenajon would like to thank Reg for his years of outstanding service with the company, and wish him health and success in his future endeavors," said Bruce McLeod, President & CEO of Tenajon Resources Corp.

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.
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, 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 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 does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 or Toll Free: 1-888-338-2200
    (604) 689-5041 (FAX)
    or
    Tenajon Resources Corp.
    Chris Curran
    Investor Contact
    (604) 331-2288
    Website: www.tenajon.com