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 July 2008 NI 43-101 compliant Indicated resource of 98.3 M/tonnes grading 0.064% and 30.9 M/tonnes of Inferred resource grading 0.059% Mo at a 0.030% cut off.
Columbia Yukon Explorations Inc - 150 metres Grading 0.117% Molybdenum
Markets may waver but it is gratifying to see the progress Canadian Venture listed Columbia Yukon Explorations Inc. (TSX.V: CYU) continues to make at its Storie molybdenum deposit located near Cassiar in northern British Columbia. The company continues to expand the known mineralized zone at the “Storie” and has completed six additional drill holes (ST08-113, 115, 116, 118, 119 and 122) with all six intersecting significant molybdenum mineralization. Interestingly, five of them are located outside of the known NI 43-101 resource.
The most significant however is results from drill hole ST08-118 (located 100 metres west of the known Indicated resource), which intersected 371.3 metres grading 0.070% Mo, including 150 metres grading 0.117% Mo. Other Drill holes have also returned grades in some cases as high as 0.150% Mo (Drill hole ST08-122, 164 metres grading 0.033% Mo., including 10 meters grading 0.150% Mo).
There is room for more good news from CYU. Of the total of 49 drill holes completed by CYU in its 2008 drilling programme, only results for 22 drill holes have been received and reported to date. 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 CYU.
While the market for commodities may have weakened over the last few months the long term outlook for moly remains strong. Moly is used in a wide variety of applications such as the manufacture of airline parts, bridge structures, pipelines and oil-rigs. It is also a major component in the manufacture of high-strength steel. Demand for all these applications may well have suffered a temporary blip but are bound to recover at some stage, thus keeping moly at the forefront.
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, 5km south of the Hwy from the former Cassiar Mine townsite. www.columbiayukon.com
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Other Columbia Yukon Explorations articles
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19/11/08 Columbia Yukon Explorations – High Moly Grades and Recoveries from Sample Flotation Tests
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30/09/08 Columbia Yukon is one to watch
Other Columbia Yukon Explorations news
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19/11/08 Columbia Yukon says Stories drilling further extends mineralised zone
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10/10/08 Columbia Yukon intersects 264 metres @ 0.033% Molybdenum
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