Columbia Yukon Explorations has issued encouraging new assays from its Storie molybdenum project near Cassiar in northern British Columbia. The company has assay results from eight new holes drilled this year, and six yielded substantial intersections.
The best result came from hole ST08-103, which produced a 457-metre interval averaging 0.065 percent molybdenum, including 69- and 81-metre intervals averaging 0.095 and 0.14 percent respectively. Five other holes yielded molybdenum assays averaging between 0.058 percent and 0.07 percent over intervals ranging from 120 metres to 410 metres.
All six tests were drilled outside the NI 43-101-compliant resource area. Two additional tests yielded lower values of molybdenum, below the stated cut-off of 0.03 percent. Columbia Yukon drilled these holes well beyond the currently defined resource.
Objective's view:
We believe the latest assays show Columbia Yukon has significant potential to expand its molybdenum resource substantially, to levels hypothesised in our initiation note. Further, the latest tests continue to show evidence of a potentially continuous higher-grade zone running through the centre of the deposit. This zone is the focus of additional drilling currently under way. We believe the latest assays support our base-case and optimistic valuations for the Storie project and Columbia Yukon.
