West Vancouver, British Columbia – November 27, 2009 – Columbia Yukon Explorations Inc. (the “Company” or “Columbia Yukon”) is pleased to report on the exploration work program completed by the Company in 2009 on its “Storie” Property molybdenum deposit located near Cassiar, British Columbia.
Direct field exploration work in 2009 was conducted by Stefan Wozniak, Eng., the Company’s exploration manager, and two senior geologists, Arnold Pollmer, P.Geo. and Gord Gibson, Geo. The objective of the field exploration program was to better define the geology of the Storie molybdenum deposit and to improve the geological modeling used to interpret the source and location of the mineralization. The field work consisted of surface traverses and field mapping of the various geological units (lithology) and the faults and dikes (structures). Surface samples were taken and soil geochemistry was performed on 86 samples. Previous core was also re-examined to better define the geologic units and to explore the differences between the two types of molybdenum mineralization (ie. stringer and disseminated).
The field program also involved the additional prep and submission of core samples that were not previously assayed but were believed to contain mineralization based on the 2009 NI 43-101 resource model. As a result, 310 metres of previously drilled core were prepped and assayed by Loring Laboratories. These assays were from 6 separate drill holes (ST08-116, ST08-118, ST08-120, ST08-121, ST08-123 and ST08-126). The 310 metres of core that were assayed, were then sampled at 1 metre intervals and 108 of the 1 metre samples returned values above the 0.030% Mo cut-off grade. These results were not included in the 2009 NI 43-101 resource calculation, however, will be updated into Columbia Yukon’s next resource calculation.
Additionally, non-field exploration work was completed in 2009. This enabled the Company to determine and plan for the placement of various mine components such as waste rock, concentrator (mill), tailings and other mine infrastructure. The resulting information will also be used to advance the Company’s upcoming Environmental Assessment (“EA”) submission. As well, additional in-house non-field work consisted of historical research, regional geochem and geological modeling.
Also during 2009, Dillon Consulting, the Company's environmental consultant, continued with its 4th year of environmental baseline studies in the area. As well, Dillon Consulting conducted a number of more specialized tasks and tests that are needed for the Company’s EA submission (ie. consisting of wildlife studies, water quality and flow measurements, TEM mapping (terrain and eco-system mapping), snow surveys etc.).
Overall, the Company believes that its recently completed 2009 exploration work program will greatly assist Columbia Yukon in the selection of future drill targets that could maximize the resource size and economics.
This news release has been approved by Robert Middleton, P.Eng., 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 Property molybdenum deposit situated about 6 km southwest of Cassiar, British Columbia. The Storie Property molybdenum deposit has an April 2009 updated NI 43-101 compliant Measured and Indicated Resource of 139.82 million tonnes grading 0.064% Mo (at a cut-off of 0.030% Mo) and 58.39 million tonnes of Inferred Resource grading 0.059% Mo (at a cut-off of 0.030% Mo). Cassiar, British Columbia is located 15 km by road west of Highway 37 which connects 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”
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Ronald A. Coombes, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed “forward-looking statements”. All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date. |
