Tenajon Resources Corp.
TSX VENTURE : TJS

Tenajon Resources Corp.

February 29, 2008 10:46 ET

Tenajon Commences Mobilization of 2008 Drilling Program for the Moly Brook Molybdenum Project, Newfoundland

Significant Two-Drill Program to Delineate and Expand Existing Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 29, 2008) - Tenajon Resources Corp. (TSX VENTURE:TJS) (the "Company") is pleased to announce that it has begun mobilization of equipment to allow drilling to commence early this spring on its Moly Brook molybdenum property. The two-drill program will consist of a minimum of 6,100 metres of diamond drilling with the objectives of delineating the area of known mineralization, along strike and down dip of the currently defined Moly Brook Zone (the "zone"). The 2007 exploration program yielded significant success and showed that Moly Brook has the potential to host a significant bulk tonnage open pitable molybdenum deposit. 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.

Tenajon acquired the Moly Brook property in April 2007 and, in November of last year, completed a very successful 12 hole drill program totaling 3,633 metres in length. 2007 drilling encountered consistent, near surface, higher grade molybdenum intercepts over significant widths. The program extended the Moly Brook Zone to the north of the Moly Brook fault, as well as to the south of historical drilling carried out by Royal Oak Mines Inc. in the mid 1990's. Based on drilling to date, the zone has a strike length of approximately 750 metres and is open along strike and dip. Width is variable to 400 metres with the ultimate width of the zone not determined as several of the holes ended in significant mineralization. Significant historical drill results on trend, approximately 2km to the south of the Moly Brook Zone, further highlight the size potential of this deposit.

"Based on a very encouraging 2007 drill program, a significant multi-drill follow up program is warranted in order to quickly delineate the extent of the mineralized zone at Moly Brook," said Bruce McLeod, President & CEO of Tenajon. "In addition to encountering several higher grade molybdenum intersections with very little overburden, we are particularly encouraged by the size potential of the Moly Brook deposit." Exploration by previous operators and company personnel has shown a 1.8 km long trend of molybdenum mineralization to extend southwards from the Moly Brook Zone. In 1964, Buchans Mining completed two short packsack, small diameter drill holes at the south end of the trend. Both holes intersected anomalous molybdenum values with one of the holes averaging 0.057% Mo (0.095% MoS2) over its entire length of 27.53 metres. The last 7.61 metres of the hole averaged 0.118% Mo (0.197% MoS2). The Buchans drilling was completed before the implementation of NI 43-101 and Tenajon has no way of verifying the results In addition grab samples of molybdenum bearing veins located approximately 1100 metres to the south of the zone returned values of up to 0.297% Mo. Some of these targets will be followed up on in the 2008 drill program. Highlights of the 2007 drill program are below while complete results are attached at the end of this press release.



---------------------------------------------------------------
From To Interval Mo MoS2
Hole (metres) (metres) (metres) (%) (%)
---------------------------------------------------------------
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 336.50 392.35 55.85 0.091 0.152
---------------------------------------------------------------

---------------------------------------------------------------
MB 2007-8 30.78 304.80 274.02 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
---------------------------------------------------------------

---------------------------------------------------------------
MB07-09 165.48 265.48 100.48 0.055 0.092
---------------------------------------------------------------
Incl. 195.35 231.95 36.60 0.087 0.145
---------------------------------------------------------------
295.05 311.20 13.11 0.051 0.083
---------------------------------------------------------------


At the Moly Brook Property molybdenite occurs primarily along the rims of a series of north trending, subvertical sheeted veins and fracture faces over an up to 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. Up to 3% combined pyrite and chalcopyrite are commonly associated the molybdenite.

A surface route has been established which has allowed a dozer and excavator to travel from Grey River to the Moly Brook property so that drilling will be able to proceed using tracked equipment to move the drills. A camp is being established and drilling is scheduled to commence in early April.

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 was sawn into halves with one half being sent for analysis and the other kept for future reference. All samples were 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 was 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 February 29, 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 182.58 391.97 209.39 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 336.50 392.35 55.85 0.091 0.152
---------------------------------------------------------------

---------------------------------------------------------------
MB 2007-5 31.39 317.91 286.52 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 128.93 152.10 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 2007-6 196.90 218.26 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 196.90 300.58 103.68 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
---------------------------------------------------------------
190.80 206.96 16.16 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 30.78 304.80 274.02 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
---------------------------------------------------------------

---------------------------------------------------------------
MB07-09 165.48 265.48 100.48 0.055 0.092
---------------------------------------------------------------
Incl. 195.35 231.95 36.60 0.087 0.145
---------------------------------------------------------------
295.05 311.20 13.11 0.051 0.083
---------------------------------------------------------------

---------------------------------------------------------------
MB07-10 No Significant Results
---------------------------------------------------------------

---------------------------------------------------------------
MB07-11 205.74 227.08 21.34 0.054 0.090
---------------------------------------------------------------

---------------------------------------------------------------
MB07-12 206.09 242.62 36.58 0.055 0.092
---------------------------------------------------------------
Incl. 209.09 220.37 11.28 0.104 0.173
---------------------------------------------------------------


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