BRITISH COLUMBIA – The three holes drilled on the Ajax molybdenum property all bottomed in significant molybdenum mineralization, says TENAJON RESOURCES of Vancouver. The property lies 14 km from Alice Arm in the northwestern part of the province.
The Ajax property contains a large undeveloped porphyry moly deposit. NEWMONT MINING estimated in 1967 that the deposit contains drill-indicated undiluted resources of roughly 175 million tonnes grading 0.123% MoS2. Tenajon’s drill program returned assays of higher grade: 0.165% MoS2 over 196.90 metres (including 0.500% MoS2 over 12.19 metres), 0.143% MoS2 over 287.73 metres, and 0.125% MoS2 over 89.91 metres.
The drill cores were also assayed for rhenium, used to make high-temperature alloys, lead-free gasoline and superconductors. Eight of the 30 samples assayed greater than 0.1 g/t Re. With rhenium selling for US$32/gram, it could be a significant contributor to the economic viability of the project.
More information about the Ajax property is available at www.Tenajon.com.