West Vancouver, British Columbia – January 30, 2008 – Columbia Yukon Explorations Inc. (the “Company” or “Columbia Yukon”) is pleased to report assay results for five additional drill holes for the Company’s “Storie” Molybdenum Property.
In 2007, Columbia Yukon completed 76 drill holes (23,000 metres of core drilling) on the Storie Property. The Company is continuing to report assay results as they are received. Prior to this news release, Columbia Yukon has reported assay results from 31 of the 76 drill holes. By this news release, the Company is reporting assay results for an additional five drill holes (ST07-52 to ST07-56), which results are summarized as follows:
|
HOLE
Number |
FROM
(metres) |
TO
(metres) |
INTERVAL
(metres) |
INTERVAL
(feet)* |
Mo
(%) |
MoS2
(%)** |
|
ST07-52 |
180 |
328 |
133 |
436 |
0.049 |
0.082 |
|
including |
234 |
328 |
94 |
308 |
0.057 |
0.095 |
|
ST07-53 |
161 |
372 |
111 |
364 |
0.057 |
0.095 |
|
including |
278 |
372 |
94 |
308 |
0.070 |
0.117 |
|
ST07-54 |
83 |
302 |
220 |
722 |
0.133 |
0.222 |
|
ST07-55 |
167 |
284 |
117 |
384 |
0.066 |
0.110 |
|
including |
191 |
284 |
93 |
305 |
0.078 |
0.130 |
|
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 |
*conversion factor: 1 metre = 3.28 feet
** conversion factor 1% MoS2 = 0.5999 %Mo
Of the five drill holes referred to above, ST07-54 and ST07-56 are located in the higher grade area which was referred to in the Company’s news release dated January 17, 2008. These two drill holes, combined with previously released holes in this area, continue to outline an area significantly higher in grade than the average grade reported in the NI 43-101 inferred resource estimate for the Storie Property Molybdenum Deposit (as prepared by Watt, Griffis & McOuat and announced on July 5, 2007).
The specific locations of the drill holes reported in this and earlier news releases can be viewed in the “Investors” – “Corporate Presentation” section of the Company’s website at www.columbiayukon.com.
All of the above 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 analysed for 30 elements using an inductively coupled plasma emission spectrometer. Samples that ran greater than 350 ppm Mo were assayed using a larger sample size and greater dilution in order to be able to read the higher grade values.
The Company is presently finalizing this year’s exploration drill program for the Storie Property and expects to core drill a minimum of 40,000 metres in 2008. The Company’s 2008 program is being designed in an effort to significantly expand the currently known and sizeable resource. As well, the 2008 exploration program will focus on further resource definition of the new high grade zone discovery.
This news release has been reviewed and approved by John Kowalchuk, P. Geo., who is acting as Qualified Person for the Company’s 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.
