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Projects Overview
Ajax Moly Project
Moly Brook Project
Burn Project
Kansas Claim Project
Summit Lake Project
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Ajax Molybdenum Property
The Ajax molybdenum deposit is one of North America's largest undeveloped molybdenum deposits and occupies a surface area of approximately 600 by 650 metres. The Company began actively exploring Ajax in 2005, and, since this time, has successfully delineated a significant molybdenum resource. At a 0.040% Mo cut-off the deposit hosts a 43-101 compliant inferred resource of 448.8 million tonnes grading 0.063% Mo (623.4 million pounds) and an indicated mineral resource of 38.8 million tonnes averaging 0.064% Mo (56.4 million pounds). In October 2007, Tenajon completed a 13 hole drill program totaling 2,639 metres of diamond drilling on the Ajax deposit. The goal of the drill program was to improve confidence in near surface mineralized zones, convert resources from the inferred to the measured and indicated category, and to test the theory which suggests that the grade of the deposit may have been underreported due to the orientation of most of the drill holes completed during previous drilling campaigns.
Moly Brook Molybdenum Property
Tenajon has a 100% interest in the Moly Brook property which is located 2.5 km from the Hamlet of Grey River on the southern coast of Newfoundland, less than 4 kilometres from a deep water, ice free navigable fjord. Molybdenum was first discovered at Moly Brook in 1995 by the now defunct Royal Oak Mines Inc. while exploring for gold. On the basis of just four drill holes, Royal Oak was satisfied that it had discovered a significant porphyry-style molybdenum deposit. In October 2007, Tenajon completed a 12 hole drill program totaling 3,633 metres in length. The program was designed to follow-up on the results of geochemical and geophysical surveys that expanded the area of potential molybdenum-copper mineralization previously defined by Royal Oak Mines Inc.
Burn Molybdenum Property
Tenajon has a 100% property interest in the Burn Property which is an under explored molybdenum project located 4 km northwest of Kispiox, B.C. Infrastructure is excellent as the property is road accessible, there is a railhead at Hazelton, 14 km to the south, and power passes to within 1 km of the property boundaries. The Burn Property saw limited exploration completed on it in the mid 1970's and early 1980's by Noranda and Amoco Canada Petroleum. Historical work included geological, geochemical and geophysical surveys along with limited drilling. In November 2007, Tenajon completed a 5 hole drill program totaling 1,500 metres in length. The program was designed to follow-up on the results of recently completed geochemical and geophysical surveys, as well as historical surveys.
Kansas Gold Property
The Kansas Claim is a joint venture agreement between Tenajon (40%), Pinnacle Mines Ltd. (30.6%), and Mountain Boy Minerals Ltd. (29.4%). Kansas is situated within the Silver Coin property which is being advanced by JV partners Pinnacle Mines and Mountain Boy Minerals. The project is located in the prolific Stewart mining camps in northwestern British Columbia. Based on drilling to date, the Silver Coin and Kansas Claim projects boast a significant gold resource. The total Measured and Indicated resource has been calculated to contain 423,002 ounces of gold, of which 355,924 ounces or approximately 84% of the total is within the Kansas claim. The total Inferred resource is 947,988 ounces of gold, of which 707,605 ounces or approximately 74% of the total is hosted on the Kansas claim. The project's potential is highlighted by its close proximity to a number of former successful mining operations such as the Silbak-Premier mine to the south and the Big Missouri mine to the north.
Summit Lake Gold Property
The Summit Lake Gold Property is 100% owned by Tenajon and is located 30 km north of Stewart, B.C. The property hosts several zones of gold mineralization similar to that at the nearby past producing Snip Mine. From 1981 through 1985, the Summit Lake Gold Property produced 95,426 ounces of gold from 201,462 tons milled at an average grade of 0.474 oz/t gold (16.20 g/t). Thirteen zones of high grade gold veining have been located both underground and on surface with past production coming from just three of the zones. 2004 -- 2006 drill programs conducted by Tenajon returned significant results from just six target zones. Further exploration is required to assess the Summit Lake property. An independent NI 43-101 resource estimate is currently being calculated.
