Moly Brook Property
Tenajon has a 100% interest in the Moly Brook Molybdenum Property, located 2.5 km from the Hamlet of Grey River on the southern coast of Newfoundland.
Highlights
- 2009 Resource Estimate of Moly Brook Zone includes an Indicated Resource of 86.8 million tonnes grading 0.065% Mo (124.6 million pounds) and an Inferred Resource of 31.2 million tonnes grading 0.056% Mo (38.6 million pounds) at a 0.04% cutoff grade (NI 43-101 compliant)
- 2009 Resource Estimate report outlines Indicated Resources of 120.0 million pounds of molybdenum and Inferred Resources of 32.1 million pounds of molybdenum are contained within a pit shell, which has an estimated strip ratio of 2.03:1, including the potential for a higher grade starter pit with an estimated strip ratio of 1.09:1 hosting Indicated Resources of 43.4 million pounds of molybdenum and Inferred Resources of 4.3 million pounds of molybdenum
- 2009 metallurgical work completed was successful in determining that in bench scale tests rougher stage molybdenum recoveries in excess of 90% can be achieved
- In 2008, a drill program totaling 11,640 metres and a trenching program successfully expanded the size, defined and confirmed the molybdenum mineralization, which projects to surface and is open at strike and at depth
- In 2007, an initial drill program totaling 3,633 metres successfully encountered consistent near surface, high grade molybdenum over significant widths
- Located in a mining friendly district on the southern coast of Newfoundland, less than 4 kilometres from a deep water, ice free, navigable fjord with access to electric power 80 kilometres to the north, a freshwater source and a favourable mining infrastructure
- Significant historical drill results (not 43-101 compliant) at Chimney Pond Zone on trend and approximately 2km to the south of the Moly Brook Zone highlights the size potential of this molybdenum deposit
Project History
The Moly Brook Property is located 2.5 km from the Hamlet of Grey River on the south coast of Newfoundland, less than 4 km 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. However, due to extremely low molybdenum prices at the time and Royal Oak's deteriorating financial situation, they discontinued all exploration in Eastern Canada shortly after the discovery.
2009 Mineral Resource Estimate
The Moly Brook deposit contains an Indicated Resource of 86,.8 million tonnes grading 0.065% molybdenum (124.6 million pounds) and an Inferred Resource of 31.2 million tonnes grading 0.056% molybdenum (38.6 million pounds) at a 0.04% cutoff grade (NI 43-101 compliant). A summary of the Indicated and Inferred Mineral Resources at the Moly Brook deposit at various cut-off grades is tabulated below:
| |
|
Indicated
Resources |
|
|
|
|
Inferred
Resources |
|
|
|
Cut-Off
Grade
Mo (%) |
Tonnes >
cut-off |
Mo
(%) |
Million
lbs Mo |
Cu
(%) |
Million
lbs Cu |
Tonnes
>
cut-off |
Mo
(%) |
Million
lbs Mo |
Cu
(%) |
Million
lbs
Cu |
| 0 |
147,778,487 |
0.050 |
161.3 |
0.035 |
114.7 |
52,066,544 |
0.046 |
52.3 |
0.0267 |
30.7 |
| 0.04 |
86,781,029 |
0.065 |
124.6 |
0.034 |
65.8 |
31,263,359 |
0.056 |
38.6 |
0.0272 |
18.8 |
| 0.05 |
61,449,819 |
0.074 |
99.7 |
0.035 |
47.3 |
17,332,754 |
0.065 |
25.0 |
0.0302 |
11.5 |
| 0.06 |
42,250,759 |
0.082 |
76.8 |
0.036 |
33.8 |
8,913,550 |
0.076 |
15.0 |
0.033 |
6.5 |
| 0.07 |
27,742,365 |
0.092 |
56.2 |
0.038 |
23.2 |
4,779,313 |
0.087 |
9.1 |
0.0353 |
3.7 |
| 0.08 |
17,458,367 |
0.102 |
39.4 |
0.038 |
14.7 |
2,695,434 |
0.096 |
5.7 |
0.0377 |
2.2 |
| 0.09 |
11,233,188 |
0.113 |
27.9 |
0.037 |
9.2 |
1,635,951 |
0.105 |
3.8 |
0.0432 |
1.6 |
| 0.10 |
7,150,216 |
0.123 |
19.4 |
0.037 |
5.8 |
1,035,629 |
0.111 |
2.5 |
0.0474 |
1.1 |
The Resource estimate report completed by Kirkham Geosystems Ltd under the direction of Garth Kirkham, an independent qualified person as defined by National Instrument 43-101.