Columbia Yukon Explorations Inc.: 100 Metre Step Out At Storie
Deposit Hits 150 metres Grading 0.117% Moly!
WEST VANCOUVER, BRITISH COLUMBIA--(Marketwire - October 28, 2008) -
Columbia Yukon Explorations Inc. (the "Company" or "Columbia Yukon")
(TSX VENTURE: CYU)(FRANKFURT: VOR) is extremely pleased to further
announce the ongoing expansion of the known mineralized zone at the
Company's "Storie" property molybdenum deposit located near Cassiar
in northern British Columbia.
Six additional drill holes (ST08-113, 115, 116, 118, 119 and 122)
were completed and all six intersected significant molybdenum
mineralization (five of which are located outside of the known NI
43-101 resource).
Drill hole ST08-113 (located 150 metres west of the known Indicated
resource), intersected 171 metres grading 0.063% Mo;
Drill hole ST08-115 (located 350 meters west of the known Indicated
resource and 100 meters south of previously reported hole ST08-111),
intersected 10 metres grading 0.260% Mo and 81 metres grading 0.041%
Mo;
Drill hole ST08-116 (located 150 metres west of the known Indicated
resource), intersected 268 metres grading 0.075% Mo;
Drill hole ST08-118 (located 100 metres west of the known Indicated
resource), intersected 371.3 metres grading 0.070% Mo, including 150
metres grading 0.117% Mo;
Drill hole ST08-119 (infill hole located within the known deposit),
intersected 267 metres grading 0.069% Mo, including 140 metres
grading 0.092% Mo; and
Drill hole ST08-122, an exploration hole, (located 100 metres south
of the known Indicated resource), intersected 164 metres grading
0.033% Mo, including 10 meters grading 0.150% 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 22 drill holes. 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 Columbia
Yukon.
The assay results for the six drill holes referred to above are as
follows:
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Average Average
From To Interval Grade Grade
Hole Number (metres) (metres) (metres) (Mo%) (MoS2%)(i)
-------------------------------------------------------------------------
ST08-113 225 396 171 0.063 0.105
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ST08-115 125 135 10 0.260 0.433
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and 333 414 81 0.041 0.068
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ST08-116 132 400 268 0.075 0.125
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including 136 184 48 0.090 0.150
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including 288 388 100 0.113 0.188
-------------------------------------------------------------------------
ST08-118 67 438.3 371.3 0.070 0.117
-------------------------------------------------------------------------
including 232 382 150 0.117 0.195
-------------------------------------------------------------------------
ST08-119 45 312 267 0.069 0.115
-------------------------------------------------------------------------
including 45 185 140 0.092 0.153
-------------------------------------------------------------------------
ST08-122 32 196 164 0.033 0.055
-------------------------------------------------------------------------
including 32 42 10 0.150 0.250
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(i) conversion factor: 1% MoS2 equals 0.5999% Mo
The current NI 43-101 Mineral Resource estimate report, as prepared
by Watts, Griffis and McOuat Limited, Consulting Geologists and
Engineers of Toronto, Ontario, and Mintec, Inc. of Tucson, Arizona,
has been prepared in compliance with NI 43-101 and presents a review
of the geology and Mineral Resources of Columbia Yukon's Storie
property molybdenum deposit. The Company has filed the NI 43-101
report on www.SEDAR.com and on its website at www.columbiayukon.com.
All of the above holes were drilled using hydraulic drills producing
NQ size core. The core was sawn in half by a diamond bit rock saw and
half of the core was retained and stored in the core box for
permanent record or later reference. The other half was bagged and
sent to Loring Labs of Calgary, Alberta, where it was crushed and
pulverized. A one gram sample was then split out and dissolved in a
four acid complete dissolution and analyzed for molybdenum using an
"AA" (atomic absorption) finish. In addition to both Loring Labs' and
Columbia Yukon's internal QA/QC, every 20th sample reject pulp is
being sent to Acme Analytical Laboratories of Vancouver, B.C. for
inter-laboratory analysis.
This news release has been reviewed and approved by Mr. Arnold
Pollmer, P.Geo., who is acting as the Qualified Person for the
Company's Storie molybdenum 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. The Storie
property is situated about 6 km southwest of Cassiar, British
Columbia. Cassiar is located 15 km (by road) west of Highway 37,
which provides access to Watson Lake, Yukon, to the north and Dease
Lake and Stewart, British Columbia, to the south.
Columbia Yukon Explorations Inc.
Ronald A. Coombes, President & CEO
The TSX Venture Exchange has not reviewed this news release and does
not accept responsibility for the adequacy or accuracy this release.
Contacts:
Columbia Yukon Explorations Inc.
Mr. Clive Shallow
Investor Communications
(604) 922-2030
(604) 922-2037 (FAX)
Website: www.columbiayukon.com.
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
