West Vancouver, British Columbia – March 10, 2008 – Columbia Yukon Explorations Inc. (the “Company” or “Columbia Yukon”) is pleased to report assay results for ten additional drill holes for the Company’s “Storie” Molybdenum Property, located 5km south of Cassiar in Northern British Columbia.
“We are extremely pleased with the ongoing assay results that we have been receiving from our 2007 drill program on the Storie Property, and in particular, the higher molybdenum grade assays results that we believe will enable us to establish a significant higher grade zone within the initial NI 43-101 resource area,” said Ronald Coombes, President and CEO of Columbia Yukon.
In 2007, Columbia Yukon completed 76 drill holes (23,000 metres or 75,460 feet 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 58 of the 76 drill holes. By this news release, the Company is reporting assay results for an additional ten drill holes (ST07-79 to ST07-88), which results are summarized as follows:
HOLE
Number |
FROM
(metres) |
TO
(metres) |
INTERVAL
(metres) |
INTERVAL
(feet)* |
Mo
(%) |
MoS2
(%)** |
|
ST07-79 |
180 |
342 |
162 |
531 |
0.085 |
0.142 |
|
including |
222 |
342 |
120 |
394 |
0.093 |
0.156 |
|
ST07-80 |
59 |
326 |
267 |
876 |
0.070 |
0.117 |
|
including |
131 |
326 |
195 |
640 |
0.081 |
0.135 |
|
and |
185 |
326 |
141 |
462 |
0.090 |
0.150 |
|
ST07-81 |
93 |
141 |
48 |
157 |
0.051 |
0.085 |
|
and |
203 |
329 |
126 |
420 |
0.062 |
0.103 |
|
ST07-82 |
202 |
331 |
129 |
423 |
0.077 |
0.128 |
|
including |
238 |
331 |
93 |
305 |
0.089 |
0.148 |
|
ST07-83 |
249 |
381 |
132 |
433 |
0.057 |
0.095 |
|
ST07-84 |
132 |
262 |
130 |
426 |
0.066 |
0.110 |
|
ST07-85 |
112 |
220 |
108 |
354 |
0.076 |
0.127 |
|
ST07-86 |
68 |
263 |
195 |
640 |
0.065 |
0.108 |
|
including |
68 |
182 |
114 |
374 |
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 |
*conversion factor: 1 metre = 3.28 feet
** conversion factor 1% MoS2 = 0.5999 %Mo
Except for drill hole ST07-87 (which twinned drill hole ST06-05), all of the above holes were drilled to the east of the higher grade area which was referred to in the Company’s recent news releases. Six of the above drill holes continue to outline and expand a significant area with considerably higher molybdenum grades than the average grade reported in the NI 43-101 inferred resource estimate for the Storie Property Molybdenum Deposit (as prepared by Watts, Griffis and McOuat, Consulting Geologists and Engineers of Toronto, Ontario, and announced by Columbia Yukon on July 5, 2007). The three remaining drill holes (ST07-79, ST07-82 and ST07-83) are along the northern edge of the initial resource area.
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 (131,233 feet) 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.
About Columbia Yukon Explorations Inc.:
Columbia Yukon is a Canadian mineral exploration company focused on the development of its Storie Molybdenum Property deposit located in northern British Columbia.
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 & CEO
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release.
