Tenajon Resources Corp.
TSX VENTURE : TJS

Tenajon Resources Corp.

December 18, 2006 08:00 ET

Tenajon Resources Corp.: Ajax Molybdenum Deposit Extended 500m Vertically, Results Include 145m of 0.064% Molybdenum Including 12.57m at 0.107% Mo

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 18, 2006) - Tenajon Resources Corp. (TSX VENTURE:TJS) (the "Company") today announced that it has received the remaining assay results from the 2006 deep drilling program on its 100% owned Ajax Molybdenum Property located 13 km north of Alice Arm, BC. Results from the deepest hole drilled in the 2006 program (DDH06-06) include 145.83m at 0.064% Mo, including 12.57m at 0.107% Mo. This hole bottomed in mineralization with the final 7.62m assaying 0.099% Mo, extending the known mineralization over 500m below the pre-2006 drilling and doubling the vertical extent of the deposit.

The 2006 drill program was designed to expand the currently defined Inferred Mineral Resource of 345 million tonnes at 0.070% Mo (0.117% MoS2) to depth, and to test for higher grade mineralized zones along the flanks of the system.

The Ajax Molybdenum deposit occupies a surface area approximately 650m by 600m and this summer's drilling has extended the depth of the zone from surface to depths of over 1 kilometer, and remains open at depth. The mineralized system includes several areas of higher grade mineralization and these areas in the upper portion of the deposit are generally structurally controlled by the faulting that occurred during the formation of the deposit. Similar structures were also witnessed in the recent drill program where the holes typically intersect several higher grade zones. With the additional information gained from this program, Tenajon will be able to better target and define areas of higher grade mineralization, as it advances the Ajax project to the next phase of definition drilling. The details of the final three drillholes are discussed below.

Drillhole DDH06-04 was drilled at a dip of -63 degrees, from the same setup as drillhole DDH06-01(-47 dip). The drillhole was terminated at a depth of 449.59m due to drilling difficulties. This hole only intersected the eastern arm of the deposit at approximately 200m below historic drilling.

Drillholes DDH06-05 and DDH06-06 were drilled at dips of -65 and -73 degrees respectively, from the same location as drillhole DDH06-03 (-57 dip). Both holes ended within the mineralized porphyry system, at the drilling capacity of the available rig, over 500 metres below any historic drilling. Please see the attached diagram for 2006 drill hole location map (http://www.ccnmatthews.com/docs/TJS.jpg).

Results for all of the drill holes at Ajax, including those previously released are summarized below:



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Hole From To Length Mo%
(m) (m) (m)
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DDH06-01(i) 312.42 364.24 51.82 0.062
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including 333.4 352.04 18.64 0.081
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DDH06-03(i) 340.77 352.96 12.19 0.068
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AND 418.7 511.67 92.97 0.065
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including 465.73 480.97 15.24 0.083
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AND 523.40 669.95 146.55 0.073
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including 523.40 562.80 39.4 0.095
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DDH06-04 349.00 443.90 94.90 0.065
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including 373.38 385.57 12.19 0.086
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also including 422.15 443.90 21.75 0.086
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DDH06-05 346.86 583.69 236.83 0.057
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including 558.78 562.95 4.17 0.119
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also including 575.31 583.69 8.38 0.100
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AND 702.09 780.22 78.13 0.057
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including 758.34 765.53 7.19 0.089
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DDH06-06 614.04 759.87 145.83 0.064
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including 629.95 642.52 12.57 0.107
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also including 676.05 685.19 9.14 0.082
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also including 706.53 719.42 12.89 0.072
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also including 752.25 759.87 7.62 0.099
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(i) previously released drill hole


Tenajon is currently in the process of data compilation and modeling of the deposit, in preparation for updating the resource estimate.

A preliminary route survey has been completed to reestablish road access to the deposit. In addition, preliminary environmental baseline sampling and metallurgical testing are ongoing.

Ali Shahkar, P. Eng., who is a Qualified Person as defined by NI 43-101, supervised the Ajax Property exploration program. Drill core was sawn in half by company personnel and delivered to Acme Analytical Labs (in Vancouver) for assaying, using their 7TD package (4-acid digestion followed by analysis by ICP-ES). A check sampling program using standards, blanks and duplicates is utilized by the Company.

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.

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