West Vancouver, British Columbia – Columbia Yukon Explorations Inc. (the “Company”) is pleased to announce that it has received additional assay results for a further seven holes in its ongoing 2007 drill program on the Company’s “Storie” Molybdenum Property located in northern British Columbia. The Storie Property lies south of the former Cassiar Mine townsite. The property is accessible by paved highway to Cassiar and then 5 kilometres of all weather gravel road.
As part of its 2007 drilling program, the Company has thus far completed 50 drill holes (17,000 metres of core drilling). The Company reported assay results for its first group of nine drill holes in its news release dated September 11, 2007 and will continue to report assay results as they are received. At this time the Company is pleased to report assay results for the second group of seven drill holes, which results are summarized as follows:
HOLE Number |
FROM
(metres) |
TO
(metres) |
INTERVAL
(metres) |
INTERVAL
(feet)* |
MoS2
(%) |
ST07-30 |
57 |
126 |
69 |
226.3 |
0.088 |
ST07-31 |
36 |
90 |
54 |
177.1 |
0.180 |
ST07-32 |
0 |
71 |
71 |
232.9 |
0.067 |
ST07-33 |
51 |
60 |
9 |
29.5 |
0.238 |
and |
219 |
240 |
21 |
68.9 |
0.067 |
ST07-34 |
15 |
54 |
39 |
127.9 |
0.070 |
ST07-35 |
21 |
57 |
36 |
118.1 |
0.055 |
ST07-41 |
23 |
101 |
78 |
255.8 |
0.125 |
and |
21.5 |
224.5 |
6 |
19.7 |
0.143 |
and |
241 |
257.5 |
16.5 |
54.1 |
0.090 |
*conversion factor: 1 metre = 3.28 feet
Except for drill hole ST07-41, all of the drill holes are east and south of the initial resources area, and therefore, were not used in the calculation of the NI 43-101 Mineral Resource estimate prepared by Watts, Griffis & McOuat Ltd., Consulting Geologists and Engineers of Toronto, Ontario (see the Company’s news release dated July 5, 2007).
Also, in an attempt to evaluate the loss of molybdenite in the core splitting process, the Company twinned hole ST06-20 with hole ST07-41. Hole ST07-41 was not split and the whole core was sent to the laboratory; whereas, hole ST06-20 was cut in half with a saw and half of the core was sent to the laboratory for assay analysis. The following comparison of the assay results of the two holes shows significantly higher MoS2 contained in the core that was not split (Hole ST07-41):
HOLE Number |
FROM
(metres) |
TO
(metres) |
INTERVAL
(metres) |
INTERVAL
(feet)* |
MoS2
(%) |
ST06-20 |
27 |
114 |
87 |
285.4 |
0.093 |
ST07-41 |
23 |
101 |
78 |
255.8 |
0.125 |
Previously reported 2007 drill hole results are as follows:
HOLE
Number |
FROM
(metres) |
TO
(metres) |
INTERVAL
(metres) |
INTERVAL
(feet) |
MoS2 (%) |
ST07-21 |
17 |
92 |
75 |
246.0 |
0.080 |
ST07-22 |
139 |
214 |
75 |
246.0 |
0.080 |
ST07-23 |
231 |
273 |
42 |
137.8 |
0.085 |
ST07-24 |
267 |
300 |
33 |
108.2 |
0.052 |
ST07-25 |
134 |
167 |
33 |
108.2 |
0.020 |
ST07-26 |
187 |
265 |
78 |
255.8 |
0.072 |
ST07-27 |
110 |
190 |
80 |
262.4 |
0.082 |
ST07-28 |
171 |
228 |
57 |
187.0 |
0.058 |
ST07-29 |
66 |
123 |
57 |
187.0 |
0.100 |
The Company currently has four drills operating on the Property which are drilling infill holes within the initial resource area for the purpose of upgrading the current inferred resource to an indicated and measured resource. When the infill drilling is completed, the drills will continue testing the east and west extensions to the initial resource area.
The Company currently has a geophysical crew on the Property completing an Induced Polarization (“IP”) Survey. The IP survey is intended to locate the position of other mineralizing structures similar to the Crone Fault. The primary structure to be tested will be the X-Fault, which is to the south of the Crone Fault.
This news release has been reviewed and approved by John Kowalchuk, P. Geo., who is acting as Qualified Person for the Storie Property Project in accordance with regulations under NI 43-101.
For further information, contact Mr. Clive Shallow, investor communications at 604-922-2030 or visit the Company’s website at www.columbiayukon.com.
Columbia Yukon Explorations Inc.
“Ronald A. Coombes”
_________________________________
Ronald A. Coombes, President
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release. |
