Columbia Yukon provides summary of Storie drill results
2008-04-08 11:14 ET - News Release
Mr. Ronald Coombes reports
COLUMBIA YUKON DOCUMENTS SIGNIFICANTLY ELEVATED MOLY GRADES WITHIN 30 PREVIOUSLY REPORTED "HIGH GRADE ZONE" DRILL CORES AT THE "STORIE" PROJECT
Columbia Yukon Explorations Inc. is presenting a summary table of drill hole results from the higher-grade mineralized zone for the company's Storie molybdenum property, as reported in the company's recent news releases.
This higher-grade zone is approximately 200 metres by 400 metres and 150 metres thick (identified by core drilling, as the western area outlining the NI 43-101 inferred resource). Of particular note, is that the higher-grade zone is currently open to the west. The company believes that the recently discovered higher-grade zone will significantly increase the grade and quality of the NI 43-101 resource. The discovery of the higher-grade zone resulted from the company's 2007 infill drilling program, which was completed on a drill hole spacing of 50-metre centres. The purpose of the infill drilling was to upgrade the resource from inferred to indicated and/or measured. As a result, the company is very optimistic that its upcoming 2008 drilling program (scheduled to begin in May) will further expand this higher-grade zone. As well, any additional mineralization discovered to the west of the known higher-grade zone may have a positive impact on further reducing the current estimated strip ratio of 1.5-to-1 (as reported in the current NI 43-101 resource), as the drill target zone is currently identified as wasterock.
A list of the holes included in the higher-grade zone, with assay results, is provided in the table.
HOLES IN THE HIGHER-GRADE ZONE
Hole From To Interval Interval Mo MoS2
(metres) (metres) (metres) (feet)(i) (%) (%)(ii)
DDH 79-1 189 314 125 410 0.112 0.187
Including 216 314 98 321 0.101 0.168
DDH 79-2 159 277 118 387 0.067 0.112
Including 192 277 85 279 0.074 0.123
DDH 80-14 250 449 199 653 0.094 0.157
Including 145 203 58 190 0.081 0.135
ST06-01 122 287 165 541 0.080 0.133
ST06-02 192 336 144 472 0.084 0.140
ST06-03 162 297 135 443 0.087 0.145
STO6-04 201 330 130 426 0.092 0.153
ST06-07 87 171 84 276 0.080 0.133
ST06-08 33 219 186 610 0.098 0.163
ST06-10 24 165 141 462 0.081 0.135
ST07-36 168 318 150 482 0.094 0.157
ST07-38 87 195 108 354 0.094 0.157
ST07-40 260 446 186 610 0.075 0.125
Including 260 362 102 335 0.090 0.150
and 389 446 57 187 0.076 0.127
ST07-45 82 319 237 777 0.106 0.177
ST07-50 17 288 271 889 0.070 0.117
including 83 206 123 403 0.114 0.189
ST07-51 35 251 216 708 0.107 0.178
including 77 251 174 571 0.112 0.187
including 146 251 105 344 0.147 0.245
ST07-54 83 302 220 722 0.133 0.222
ST07-56 34 331 297 974 0.073 0.122
including 82 331 249 817 0.081 0.135
including 151 331 150 492 0.097 0.162
ST07-60 198 388 190 623 0.084 0.140
ST07-63 207 312 105 344 0.069 0.115
and 375 398 23 75 0.086 0.143
ST07-65 202 365 163 535 0.090 0.150
ST07-69 12 270 258 846 0.083 0.138
including 12 228 216 708 0.091 0.152
and 12 201 189 620 0.098 0.163
ST07-71 5 181 176 577 0.102 0.170
ST07072 59 198 139 456 0.110 0.183
ST07-73 89 278 189 620 0.083 0.138
ST07-74 39 339 300 984 0.063 0.105
including 114 339 225 738 0.073 0.122
ST07-75 12 165 153 502 0.100 0.167
including 12 117 105 344 0.130 0.217
and 39 117 78 256 0.162 0.270
ST07-80 59 326 267 876 0.070 0.117
including 131 326 195 640 0.081 0.135
ST07-87 31 327 296 969 0.071 0.118
including 139 326 187 615 0.089 0.148
ST07-88 22 163 141 462 0.072 0.120
(i) Conversion factor: one metre equals 3.28 feet.
(ii) Conversion factor: 1 per cent MoS2 equals 0.5999 per cent
molybdenum.
A map of the company's 2006 and 2007 drill hole locations for the Storie property can be found on the company's website.
The assay results from the company's 2007 drill program continue to increase the company's confidence of the NI 43-101 inferred resource of 101.6 million tonnes grading 0.067 per cent molybdenum (0.112 per cent MoS2). All of the tabulated holes were drilled using hydraulic drills producing NQ-sized core. The core was sawn in half by a diamond bit rock saw and half of the core was retained and stored in the core box for permanent record, or later reference. The other half of the core was bagged and sent to Acme Analytical Laboratories of Vancouver, B.C., where it was crushed and pulverized. A one-gram sample was dissolved in aqua regia and the solution was analyzed for 30 elements, using an inductively coupled plasma emission spectrometer. Samples that ran greater than 300 parts per million molybdenum were assayed using a larger sample size and greater dilution, in order to be able to read the higher-grade values.
The company's planned 2008 drill program is being designed in an effort to even further expand the currently known and sizable resource. As well, the 2008 exploration program will focus on further resource definition of the new higher-grade zone.
This news release has been reviewed and approved by John Kowalchuk, PGeo, who is acting as qualified person for the company's Storie property molybdenum deposit project, in accordance with regulations under NI 43-101.