West Vancouver, British Columbia – October 28, 2008 – Columbia Yukon Explorations Inc. (the “Company” or “Columbia Yukon”) is extremely pleased to further announce the ongoing expansion of the known mineralized zone at the Company’s “Storie” property molybdenum deposit located near Cassiar in northern British Columbia.
Six additional drill holes (ST08-113, 115, 116, 118, 119 and 122) were completed and all six intersected significant molybdenum mineralization (five of which are located outside of the known NI 43-101 resource).
Drill hole ST08-113 (located 150 metres west of the known Indicated resource), intersected 171 metres grading 0.063% Mo;
Drill hole ST08-115 (located 350 meters west of the known Indicated resource and 100 meters south of previously reported hole ST08-111), intersected 10 metres grading 0.260% Mo and 81 metres grading 0.041% Mo;
Drill hole ST08-116 (located 150 metres west of the known Indicated resource), intersected 268 metres grading 0.075% Mo;
Drill hole ST08-118 (located 100 metres west of the known Indicated resource), intersected 371.3 metres grading 0.070% Mo, including 150 metres grading 0.117% Mo;
Drill hole ST08-119 (infill hole located within the known deposit), intersected 267 metres grading 0.069% Mo, including 140 metres grading 0.092% Mo; and
Drill hole ST08-122, an exploration hole, (located 100 metres south of the known Indicated resource), intersected 164 metres grading 0.033% Mo., including 10 meters grading 0.150% Mo.
A total of 49 drill holes were completed by Columbia Yukon in its 2008 drilling program on the Storie property. To date, assay results have been received and reported for 22 drill holes. The assay results for the remaining 27 drill holes will be reported by the Company as they are received.
“Drilling of the potential extensions to the resource (identified in the 3-D modeling completed earlier this year by Mintec, Inc.) continues to intersect impressive lengths of molybdenum mineralization. We continue to be extremely pleased with this year’s assay results, which indicate molybdenum mineralization well beyond the boundaries of the known resource area. The Company believes that these results are going to expand the deposit size significantly and substantially increase the overall mineral resource for the Storie property project,” said Ronald Coombes, President and CEO of Columbia Yukon.
The assay results for the six drill holes referred to above are as follows:
|
Hole
Number |
From
(metres) |
To
(metres) |
Interval
(metres) |
Average Grade
(Mo%) |
Average Grade
(MoS2%)* |
|
ST08-113 |
225 |
396 |
171 |
0.063 |
0.105 |
|
ST08-115 |
125 |
135 |
10 |
0.260 |
0.433 |
|
and |
333 |
414 |
81 |
0.041 |
0.068 |
|
ST08-116 |
132 |
400 |
268 |
0.075 |
0.125 |
|
including |
136 |
184 |
48 |
0.090 |
0.150 |
|
including |
288 |
388 |
100 |
0.113 |
0.188 |
|
ST08-118 |
67 |
438.3 |
371.3 |
0.070 |
0.117 |
|
including |
232 |
382 |
150 |
0.117 |
0.195 |
|
ST08-119 |
45 |
312 |
267 |
0.069 |
0.115 |
|
including |
45 |
185 |
140 |
0.092 |
0.153 |
|
ST08-122 |
32 |
196 |
164 |
0.033 |
0.055 |
|
including |
32 |
42 |
10 |
0.150 |
0.250 |
*conversion factor: 1% MoS2 = 0.5999% Mo
The current NI 43-101 Mineral Resource estimate report, as prepared by Watts, Griffis and McOuat Limited, Consulting Geologists and Engineers of Toronto, Ontario, and Mintec, Inc. of Tucson, Arizona, has been prepared in compliance with NI 43-101 and presents a review of the geology and Mineral Resources of Columbia Yukon’s Storie property molybdenum deposit. The Company has filed the NI 43-101 report on www.SEDAR.com and on its website at www.columbiayukon.com.
All of the above holes were drilled using hydraulic drills producing NQ size 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 was bagged and sent to Loring Labs of Calgary, Alberta, where it was crushed and pulverized. A one gram sample was then split out and dissolved in a four acid complete dissolution and analyzed for molybdenum using an “AA” (atomic absorption) finish. In addition to both Loring Labs’ and Columbia Yukon's internal QA/QC, every 20th sample reject pulp is being sent to Acme Analytical Laboratories of Vancouver, B.C. for inter-laboratory analysis.
This news release has been reviewed and approved by Mr. Arnold Pollmer, P.Geo., who is acting as the Qualified Person for the Company’s Storie molybdenum 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 property molybdenum deposit. The Storie property is situated about 6 km southwest of Cassiar, British Columbia. Cassiar is located 15 km (by road) west of Highway 37, which provides access to Watson Lake, Yukon, to the north and Dease Lake and Stewart, British Columbia, to the south.
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 this release. |
