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Jasper Mining announces mobilization of drill onto McFarlane property
Jasper Mining announces mobilization of drill onto McFarlane property.
About this update from Tuktu Resources Ltd
[{"type":"text","content":"\n\n\n\n\nCALGARY, May 30 /CNW/ - Jasper Mining Corporation (the \"Company\") is\npleased to announce mobilization of a diamond drill onto the Company's 100%\nowned McFarlane property. The property is located approximately 7 km west of\nthe Company's Lydy property and is believed to have similar potential for\nmolybdenum + copper +/- gold mineralization as Eagle Plains Sphinx property\n(see Eagle Plains Press Release dated May 9, 2006).\nThe McFarlane property has had previous work completed which resulted in\nidentification of surface soil anomalies for molybdenum, copper, lead, zinc\nand limited tungsten between McFarlane and Birkbeck creeks. Subsequent\nsub-surface diamond drilling in 1981 returned anomalous molybdenum values,\nincluding\n\n>\n\nThe best hole was DK - 81 - 9, in which a 12 m interval from 26.52 to\n38.40 returned an average grade of 1,200 ppm (0.12%) Mo. Molybdenum\nmineralization is reportedly hosted by quartz veins between 1 and 100 cm thick\nwhich are most abundant along the \"... eastern contact of the main quartz\nmonzonite intrusion ...\". A total of ten diamond drill holes were completed in\nthe 1981 program to test surface geochemical and/or geophysical (Induced\nPolarization) anomalies.\nManagement is encouraged by the documented presence of molybdenum\nmineralization on the McFarlane property, only 7 km west of the Company's Lydy\nproperty along the eastern edge of a prominent aeromagnetic anomaly associated\nwith the Crawford Stock, a biotite granite intrusion of Cretaceous age\ncorrelated to the Bayonne Magmatic Belt. Many of the Cretaceous intrusions of\nthe Bayonne Magmatic Belt have strong aeromagnetic signatures and are\nassociated with anomalous molybdenum mineralization.\nOf considerable interest to the Company is the Inferred Resource recently\nannounced by EaglePlains Resources Ltd on their Sphinx property, located\nimmediately northwest of, and contiguous with, the Company's Lydy property. In\na Press Release dated May 9, 2006, Eagle Plains reports an Inferred Resource\nof 62,005,615 tonnes grading 0.035% Mo. An airborne geophysical survey\ncompleted by Eagle Plains in 2004 \"... outlines a large intrusive feature\nassociated with the previously-defined soil anomaly\".\nThe proposed drill program for the McFarlane property is intended to\nprovide preliminary data from a total of 3 sites, ...