www.columbiayukon.com
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.
Columbia Yukon Exploration expects big increase in resource estimate at Storie Molybdenum Project
It has been a series of good news from Columbia Yukon Exploration Inc (TSX.V: CYU, Frankfurt: VOR.F) since the turn of 2009. Assay results from seven additional drill holes (ST08-138, 139, 140, 141, 142, 143 and 144) completed during the Company’s 2008 drilling programme have confirmed that all seven intersected significant molybdenum mineralization. Interestingly, four of these holes are located outside of the known NI 43-101 Resource.
Each hole returned impressive grades as described below. To decipher these grades, a deposit greater than 0.5% is considered to be a viable deposit while 0.07% Mo is considered to be attractive with the ability to host an economic molybdenum mine!
Drill hole ST08-138, a shallow dipping exploration hole intersected 54 metres grading 0.094% Mo, including 15 metres grading 0.137% Mo;
Drill hole ST08-139, a shallow dipping exploration hole intersected 342 metres grading 0.050% Mo, including 33 metres grading 0.091% Mo and 15 metres grading 0.200% Mo;
Drill hole ST08-140 intersected 72 metres grading 0.053% Mo;
Drill hole ST08-141, a shallow dipping exploration hole intersected 384 metres grading 0.082% Mo, including 210 metres grading 0.102% Mo;
Drill hole ST08-142, a shallow dipping exploration hole intersected 195 metres grading 0.058% Mo, including 63 metres of 0.096% Mo and 21 metres of 0.097% Mo;
Drill hole ST08-143 intersected 276 metres grading 0.065% Mo, including 36 metres grading 0.150% Mo,
Drill hole ST08-144 intersected 282 metres grading 0.049% Mo, including 42 metres grading 0.084% 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 all 49 drill holes.
Assay results 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.
As the world economy recovers, demand for molybdenum is expected to bounce back. 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 have suffered a temporary blip but are bound to recover at some stage, thus keeping moly at the forefront.
