Tenajon Resources Corp.
TSX VENTURE : TJS

Tenajon Resources Corp.

November 08, 2005 09:00 ET

Tenajon Resources Corp.: Underground Drilling at Summit Lake Encounters High Grade Zones 5 Feet of 3.555 oz/t '121.29 g/t' Gold

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 8, 2005) - Tenajon Resources Corp. (TSX VENTURE:TJS) is pleased to announce that results from an underground drill program have successfully expanded three high grade gold zones at the Summit Lake Property, located 50 km north of Stewart, B.C. The program successfully expanded the zones along strike and down-dip. Nineteen diamond drill holes, totaling 6,651 feet in length, were completed. Highlights included: 5.0 ft averaging 3.555 oz/t gold (121.29 g/t), 5.2 ft averaging 1.008 oz/t gold (34.44 g/t) and 3.8 ft averaging 1.043 oz/t gold (35.63 g/t).

From 1981 through 1985, the Summit Lake Gold Property produced 95,426 ounces of gold from 201,462 tons milled at an average grade of 0.474 oz/t gold (16.20 g/t). At shutdown, mine personnel calculated the geological resource within the mine to be 132,306 tons averaging 0.560 oz/t gold (19.13 g/t). This calculation was completed prior to the implementation of National Instrument 43-101 and is only listed as a historical reference.

The property hosts several zones of gold bearing pyrite-pyrrhotite quartz veining. Within these zones, high grade gold values occur in steeply plunging shoots. Production from the Summit Lake Property was mainly from one shoot within the M Zone between the 3000 and 3700 Levels. The length of this shoot ranges from 80 to 300 feet and the width ranges from 5 to 8 feet.

Of the three zones tested this year by underground drilling (the "L", "M" and "N" zones), the M Zone is considered to have the best potential for hosting additional significant reserves. In 2005, three areas to the east and west of the main M Zone workings were tested for their potential to host significant reserves. The results of the program are summarized below.



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Hole # From To Int. Oz/t g/t Comments
Feet Feet Feet Gold Gold
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720 279.7 281.9 2.2 0.197 6.73 M Zone - East of workings-
below the 3000 Level
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721 325.2 327.5 2.3 0.205 7.00 M Zone - East of workings-
below the 3000 Level
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729 93.8 107.5 13.7 0.296 10.11 M Zone - West of workings-
below the 3000 Level
---------------------------------------------------------------------
Inc 93.8 97.6 3.8 1.043 35.63
---------------------------------------------------------------------
730 188.8 215 26.2 0.721 24.63 M Zone - West of workings-
below the 3000 Level
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Inc 210.0 215.0 5.0 3.555 121.29
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733 No Significant Values M Zone - West of workings-
below the 3000 Level
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735 284.6 286.3 1.7 0.423 14.45 M Zone - West of workings-
below the 3000 Level
---------------------------------------------------------------------
722 Redrilled as 723 due to
technical problems.
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723(i) 325.0 337.1 12.1 0.824 28.15 M Zone - West of workings-
above the 3000 Level
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724 434.0 438.4 4.4 0.102 3.49 M Zone - West of workings-
above the 3000 Level
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731 N.S.V.M Zone - West of workings-
above the 3000 Level
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732 346 357.4 11.4 0.492 16.81 M Zone - West of workings-
above the 3000 Level
---------------------------------------------------------------------
Inc 352.2 357.4 5.2 1.008 34.44
---------------------------------------------------------------------
734 264.3 269.4 5.1 0.173 5.91 M Zone - West of workings-
above the 3000 Level
---------------------------------------------------------------------

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725 193.5 217.0 26.5 0.166 5.67 N Zone
---------------------------------------------------------------------
Inc 193.5 201.0 7.5 0.334 11.41 N Zone
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726 204.8 211.2 6.4 0.245 8.37 N Zone
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727 No Significant Values N Zone
---------------------------------------------------------------------
728 280.3 288.7 8.4 0.236 8.06 N Zone
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717(i) 312.7 314.7 2.0 0.139 4.75 L Zone
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718(i) 349.6 354.0 4.4 0.201 6.87 L Zone
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719(i) 353.7 362.4 8.7 0.106 3.62 L Zone
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(i) Previously released on September 19, 2005.


Drilling of the M Zone above the 3000 Level to the west of the workings has intersected significant gold values over a 250 feet length between the 3000 and 3800 Levels. The zone is open to the west, with Hole 732 (5.2 feet averaging 1.008 oz/t gold - 34.44 g/t) being the most westerly drilled to date. Limited drilling completed in the 1980's on the 3800 Level returned encouraging results, including 13.5 feet averaging 0.250 oz/t gold (8.54 g/t) and 3.3 feet averaging 0.97 oz/t gold (33.14 g/t). The zone is exposed on surface between the 4000 and 4100 Levels. Below the 3000 Level, high grade gold values occur over a 500 foot strike length to the 2780 level. Along strike to the west the zone is open. Limited drilling below the 2780 Level intersected the zone however the gold values are lower.

The N Zone is located 200 feet south of the M. During operations, limited production was achieved from a 100-200 foot long shoot between the 3000 and 3300 Levels. In 2004, a hole was drilled that averaged 1.305 oz/t gold (44.59 g/t) over 3.80 feet on the 2880 Level. In 2005, 4 holes were drilled into the N Zone to test the continuity of this intercept along strike and down dip. The results show the zone to be continuous to at least the 2700 Level (Hole 728). Along strike to the east the zone was intersected at depth in hole 727 however the grades were low. No drilling has been completed below the 2700 Level or to the west of Hole 728.

The L Zone is located 350 feet south of the M Zone. The zone has been traced along strike for 400 feet and over a 200 foot dip length with the zone open in all directions. Previous drill results include 2.5 feet averaging 2.036 oz/t gold (69.56 g/t) and 0.475 oz/t gold (16.23 g/t) over 6.7 feet. Hole 719 is the most westerly hole drilled into the zone.

The 2005 underground and surface drill programs (see surface drilling results released on October 24, 2005) have successfully shown the Summit Lake Property to have excellent potential to host significant reserves outside of the historic mineral inventory. All of the zones tested in 2005 are open and require additional drilling and development to determine their ultimate potential. Presently the Company is compiling all data and formulating plans for 2006.

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 involving the introduction of one blank and one standard for every 20 samples is employed by Tenajon.

The technical information is this news release has been prepared in accordance with Canadian regulatory requirements and reviewed by Dave Visagie, P Geo, Northair Group Exploration Manager (a Qualified Person under NI 43-101). The exploration program at the Summit Lake Property was supervised by him.

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)
    www.tenajon.com