Tenajon Resources Corp.
TSX VENTURE : TJS

Tenajon Resources Corp.

October 16, 2006 08:30 ET

Tenajon Resources Corp. Commences Surface Drilling at Summit Lake Gold Property

Drilling Continues on Ajax Molybdenum Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 16, 2006) - Tenajon Resources Corp. (TSX VENTURE:TJS) (the "Company") is pleased to announce that surface diamond drilling has commenced on the Summit Lake Gold Property located 30 km north of Stewart, B.C. The drilling is part of an ongoing surface and underground program designed to evaluate the Summit Lake Gold Property. Previous drill programs have identified and expanded several zones of gold bearing mineralization, including those at the formerly producing Summit Lake Mine (production of 96,000 ounces of gold at an average grade of 0.474 ounces per ton, 16.20 gpt Au).

Recent work at the Blueberry Zone, located over 2 km to the northeast of the main mine workings has outlined a 300 metre long and open trend of greater than 100 ppb gold in soil geochemistry anomaly. Of the seventeen samples defining the anomaly, seven assayed greater than 300 ppb Au to a maximum value of 12,500 ppb. The anomaly occurs along the contact between argillite and andesitic volcanics. Within the volcanics, disseminated pyrite and pyrrhotite occur in narrow carbonate veins and chlorite clots. All three grab samples collected from within this anomaly returned anomalous gold values with one of the samples assaying 20.25 gpt gold. A drill hole completed at the north end of this trend in 2005 intersected a 4.97 metre intercept averaging 21.30 gpt Au. The 2006 drill program will test the continuity of this intersection along strike and down-dip.

In addition to the surface work, the Company has just completed a 26 hole, 3,650 metre underground drill program that tested various zones at the Summit Lake Gold Mine. Six holes tested the L Zone, 17 holes tested the M Zone and areas to the west of the zone while one hole tested the N Zone. Two holes tested the potential of the ground to the east of the workings to host mineralized zones similar to those in the Summit Mine. Assays have been received for all the holes completed at L Zone. The results show anomalous gold values to continuously occur over narrow widths with the best result being a 0.46 metre section assaying 5.27 g/t Au. In addition, assays have been received for four of the five holes that were drilled to test the area to the west of the M Zone. Although mineralization similar to that in the main mine workings was encountered, the gold values were insignificant. Results are pending for the remaining 16 holes.

Tenajon continues with the deep drilling program on its 100% owned Ajax Molybdenum Property, located 13 km north of Alice Arm, BC. The program is 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 drilling continues to successfully intersect the Ajax porphyry system and molybdenite mineralization at progressively deeper depths.

To date, approximately 2800 metres of drilling have been completed. Drillhole 06DDH01 tested the system approximately 150m below historical drilling. Drillhole 06DDH02 was abandoned due to drilling difficulties and re-collared as 06DDH03 which tested the deposit approximately 200m below historical drilling. Drillhole 06DDH04 and 06DDH05 tested the deposit roughly 250m down dip from historic drilling. DDH06-06 the deepest hole to be drilled in the current program will test the deposit approximately 300 metres deeper than any historic drilling. To date the company has only received partial assay results for the initial holes. Results will be reported when assays have been received and the results have been compiled.

Ali Shahkar, P. Eng., who is a Qualified Person as defined by NI 43-101, is supervising the Ajax Property exploration program. Drill core is 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.

Dave Visagie P. Geo, Northair Group Exploration Manager, is the Qualified Person for the Summit Lake Project and is supervising the program. At the Summit Lake Property the drill core is sawn in half by company personnel. The core is then delivered to Eco-Tech Labs who prepare and assay the core using a 1 assay ton sample. 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