Columbia Yukon Explorations Inc, a Vancouver-based junior resource company with a promising molybdenum project in northern British Columbia, now has the results of its 2009 exploration programme on the Storie property.
Although the company did no drilling this year because of a cash conservation programme to deal with the recession, detailed mapping and prospecting has allowed Columbia Yukon to outline what may be a feeder pipe for the huge Storie deposit. This zone, previously classified as waste rock, may represent a significant amount of new mineralisation. As a result, Columbia Yukon is currently planning for an aggressive exploration programme for 2010.
In other recent developments, the company has signed a knowledge protocol with the local First Nations groups in the area. This is an important first step in obtaining eventual agreements with the First Nations groups, which would smooth the permitting process for a Storie mine.
Objective's view:
Our previous model for Storie incorporated a significant “blue-sky” potential for the future delineation of additional mineralisation. Much of this potential has been realized in an updated NI 43-101-compliant resource estimate for Storie, prepared earlier this year, but the potential new feeder zone may allow for further expansion of the resource.
