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Market: TSX
Sector: General Mining
Epic: .CYU
News: Latest news
Web Site: Columbia Yukon Explorations
Other Articles: 30-11-200903-11-200912-08-2009

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Columbia Yukon Explorations

Columbia Yukon Explorations

Columbia Yukon Explorations is a mineral exploration company. Its most advanced property is the Storie molybdenum deposit located near the historic mining camp of Cassiar, B.C. The Storie deposit has a February 2009 NI 43-101 compliant Indicated and Measured Resource of 139.82 M/tonnes grading 0.064% and 58.39 M/tonnes of Inferred Resource grading 0.059% Mo at a 0.030% cut off.

Wednesday, March 04, 2009

Columbia Yukon Explorations surges on molybdenum resource estimate for Storie Property

by Ian Mclelland company news image

TSX Venture exchange listed mining junior, Columbia Yukon Explorations (TSX-V: CYU) surged 28% in trading after the company released an updated 43-101 compliant resource estimate for the Storie Property molybdenum deposit in British Columbia.


The resource estimate, prepared by Mintec, took into account an extensive drilling program completed by the company during the 2008 season. The total current estimated total of both the Measured and Indicated Resource categories now stands at 139.82 million tonnes grading 0.064% Molybdenum at a cutoff of 0.030%. A further 58.39 million tonnes grading 0.059% Molybdenum at a cutoff of 0.030% sits in the inferred category.


Columbia Yukon was also keen to point out that the deposit still remains open in the three directions, offering plenty of scope to add further tonnage to the project.


“Columbia Yukon's 2006, 2007 and 2008 work focused on increasing, verifying and upgrading resources which were previously known. Further, to the deposit remaining open, there is at least one untested molybdenum occurrence (the "M" Zone) which merits further investigation,” the company stated.

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