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news release:
Tenajon Resources Corp.: Ajax Molybdenum Property Drill Results
in Higher than Historic Grades
Vancouver, B.C., Oct. 17: Tenajon Resources Corp. (TSX
VENTURE:TJS) is pleased to announce the final results from this summer's drilling program at its Ajax
molybdenum Property, located 14 kilometres from Alice Arm, in northwestern British
Columbia.
The 2005 drill program was successful in determining that the historically estimated
grade of the deposit could be increased using large, HQ and NQ-2 sized drill core and that
the zones extended vertically beyond previous drill holes. Three holes totaling 1165 metres
were drilled. All three holes were drilled to the limit of the drill's capability and all bottomed in
significant Mo mineralization.
The Ajax Molybdenum Property hosts a large porphyry style molybdenum deposit. Between
1965 and 1967, 26 diamond drill holes, totaling 8,101 metres were drilled at Ajax.
At the time, the grade was considered to be lower than would be expected due in part to the small size of the drill core and poor recoveries. Until this
year's program no other drilling had been completed on the deposit.
In addition to molybdenum, thirty samples were analyzed for rhenium (Re). Because of its very high melting point, rhenium is used to make high temperature alloys. It is also used to make lead-free gasoline. In addition, rhenium and molybdenum alloys are superconductors of electricity at very low temperatures. The current price for rhenium is approximately US$32/gram. Eight of the thirty samples assayed greater than 0.1 g/t Re (up to 0.3g/t). As there is a direct correlation between Mo and Re, Tenajon plans to analyze for Re all samples with significant Mo values. This will allow the Company to evaluate the potential value of Re credits in the Ajax deposit.
The Company has commenced to remodel the resource estimate for Ajax and is planning for a comprehensive drilling program to begin in 2006.
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