It’s a long moly Storie for Columbia Yukon (November 17, 2008)

Vancouver — Stepout drilling at the Storie molybdenum deposit continues to return long mineralized intercepts for Columbia Yukon Explorations (CYU-V, CYUXF-o).

In the summer, the first resource estimate for the project, which sits near Cassiar in northern British Columbia, came in at 98.3 million indicated tonnes grading 0.064% molybdenum and 30.9 million inferred tonnes grading 0.059% moly. Drilling of late has focused on expanding the resource to the west and mineralized intercepts hundreds of metres in length have become the norm.

A set of six drill holes released at the end of October include a 371- metre intercept grading 0.07% moly from hole 118, which was collared 100 metres west of the known resource. Other intercepts of note from that set include 267 metres grading 0.069% moly, including 140 metres at 0.092% moly, starting at 45 metres depth in infill hole 119. And hole 116, a stepout hole collared 150 metres west of the defined deposit returned 268 metres of 0.075% moly from 132 metres depth, including 48 metres of 0.09% moly and 100 metres of 0.113% moly.

Earlier in the month, another set of results included three long intercepts. Hole 110 hit 342 metres of 0.064%, hole 111 returned 365 metres of 0.041% moly, and hole 112 cut 264 metres of 0.033% moly.

And in September, hole 108 cut a 362-metre intercept averaging 0.06% moly in another 150-metre stepout to the west, while hole 106 returned 294 metres of 0.082% moly.

But the longest intercepts came in August, when hole 101 cut 473 metres grading 0.l06% moly and hole 103 hit 457 metres averaging 0.108% moly.

The company is confident these mega-intercepts will expand the deposit size, and the Storie mineral resource, significantly.

And early-stage metallurgical testing indicates that ore from Storie is non-refractory and thus saleable concentrate can be produced via conventional flotation methods. Preliminary tests found molybdenum recoveries of 69% to produce a concentrate grading 53% molybdenum. A second, larger phase of testing is now under way.

Columbia Yukon’s share price slid considerably in October, tracking the falling markets. At presstime, the company’s stock traded at 21, with a 52-week trading range of 17-$1.35. Columbia Yukon has 40.8 million shares issued.