Tenajon Resources Corp.

Tenajon Resources Corp.

November 19, 2007 08:30 ET

Tenajon Drilling Intersects 0.097% Molybdenum (Mo) Over 97.59 Metres at Ajax

Results include 27.43m of 0.194% Mo and 46.32m of 0.144% Mo

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2007) - Tenajon Resources Corp. (TSX VENTURE:TJS) (the "Company") today announced that high grade assay results have been received for Holes 2007-8 and 9 drilled at its Ajax Property. Both holes intersected significant near surface molybdenum mineralization with Hole 2007-9 intersecting a 97.59 metre section averaging 0.097% Mo. The Ajax Molybdenum Property is located near Kitsault, northwestern British Columbia. Twelve drill holes totaling 2,639 metres were completed in the 2007 exploration drill program. Assay results for the final three drill holes are pending. Once all assay results are received, an updated NI 43-101 compliant mineral resource estimate will be undertaken.

"The primary objective of the 2007 drill program was to further define near surface higher grade mineralized zones within a potential starter pit. With the drill results received to date, we believe that we are a step closer in achieving this goal," said Bruce McLeod, President & CEO of Tenajon. "In addition to intersecting extensive sections hosting near surface and higher grade molybdenum values along a 580 metre strike length, the deposit has demonstrated excellent down dip continuity, further strengthening our hypothesis that the deposit has open pit potential." The results for Holes 2007-8 and 9 are summarized below.

Length From To Int
Hole (m) (m) (m) (m) Mo (%) MoS2
2007-08 222.70 14.63 70.17 55.54 0.065 0.108
Inc. 14.63 41.04 26.41 0.071 0.118
And 58.00 70.17 12.17 0.071 0.118

2007-09 190.81 0 190.81 190.81 0.077 0.128
Inc. 44.45 142.04 97.59 0.097 0.162
or 104.86 151.18 46.32 0.144 0.240
Inc. 114.61 142.04 27.43 0.194 0.323

Holes 2007-1 to 3, 6, 8 and 9 tested for higher grade molybdenum mineralization along a 580 metre long section of the deposit with Hole 2007-08 being the most westerly hole drilled for which assay results have been received. All of the holes have intersected extensive sections hosting molybdenum mineralization adjacent to fault zones. Hole 8 began in resource grade mineralization and is located approximately 80 metres west of Hole 2007-03 (257.6 metres averaging 0.09% Mo including 109.49 metres averaging 0.126% Mo). Hole 2007-9 also began in resource grade mineralization and was drilled approximately 45 metres up dip along section from Hole 2007-03. Drilling has now shown that there is continuity between the high grade molybdenum drilled in Holes 2007-03 and 2007-9.

The Ajax Property hosts one of North America's largest undeveloped molybdenum deposits. At a 0.04% Mo cut-off the deposit hosts inferred resources of 448 million tonnes averaging 0.063% Mo (623.4 million pounds) and an indicated mineral resource of 38.8 million tonnes averaging 0.064% Mo (56.4 million pounds). The estimate was prepared by Giroux Consultants Ltd., an independent consulting firm (released March 5, 2007). The current price for molybdenum is approximately $32.75 per pound.

The work at the Ajax Property was completed by Apex Geoscience under the supervision of Dave Visagie, P. Geo., Tenajon's Qualified Person as defined by NI 43-101.

At the Ajax Property the drill core is sawn into halves with one half being sent for analysis and the other kept for future reference. All samples were prepared and analyzed at Acme Analytical Labs using a 4 acid digestion with analysis by Induced Couple Polarization (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. In addition a limited amount of samples are being sent to other labs to determine the reproducibility of the results.

Exploration Update

At the Company's Moly Brook Molybdenum Property located on the south coast of Newfoundland, 11 drill holes totaling 3,250 metres in length have been completed with drilling on-going. It is anticipated that 13 holes will be completed in this first phase drill program. In addition, the Company has just completed a five drill hole program totaling 1,500 metres in length at the Company's Burn Molybdenum Property located near Hazelton, British Columbia. Assay results for both programs are pending.

On Behalf of the Board of Directors


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.

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
    (604) 687-7545 or Toll Free: 1-888-338-2200
    (604) 689-5041 (FAX)
    Email: info@northair.com
    Website: www.tenajon.com