A set of seven drill holes from the Storie molybdenum deposit near Cassiar in northern British Columbia keep spirits high at Columbia Yukon Explorations (CYU-V).
All seven of the holes from the Vancouver-based junior’s 2008 drill program intersected significant molybdenum mineralization and six of them were collared between 100-250 metres outside the known National Instrument 43-101 resource on the property.
Highlights include drill hole 128, collared 100 metres west of the known indicated resource, which cut 467 metres grading 0.055% moly, including 24 metres grading 0.097% moly, 21 metres grading 0.096% moly and 45 metres grading 0.160% moly.
Other intercepts of note include drill hole 125, 100 metres west of the known indicated resource, which returned 430 metres grading 0.075% moly, including 117 metres grading 0.092% moly and 40 metres grading 0.163% moly. Hole 129 (an infill hole designed to move the known deposit from the indicated to measured category) intersected 123 metres grading 0.116% moly and 39 metres grading 0.063% moly.
Columbia Yukon is still awaiting assay results from the final 15 drill holes of its 49 drill-hole program last year. Much of that drilling, which demonstrates molybdenum mineralization extends well beyond the boundaries of the known resource area, was designed to expand the resource to the west.
The Storie property is about 6 km southwest of Cassiar. The town of Cassiar is 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.
At press-time, Columbia Yukon was trading at 13.5¢ per share. The explorer has traded in a 52-week band of 10¢-95¢ per share and has 40.83 million shares outstanding.
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