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Jasper Mining Corporation acquires additional tenures between Lydy and McFarlane properties
Jasper Mining Corporation acquires additional tenures between Lydy and McFarlane properties.
About this update from Tuktu Resources Ltd
[{"type":"text","content":"\n\n\n\nTrading Symbol: JSP (TSX-V)\n\n\nCALGARY, March 9 /CNW/ - Jasper Mining Corporation (the "Company") is\npleased to announce the recent acquisition of two additional mineral tenures\naround its Lydy property. The claims surround the Lydy property along the\nwest, south and eastern boundaries. The addition of the western tenure makes\nthe Lydy and McFarlane properties contiguous, comprising a composite property\nof 4,259 ha (10,524 acres), encompassing an area 11 km east-west by 4 km\nnorth-south. Both the Lydy property (1,201 ha: 2,968 acres) and the McFarlane\nproperty (3,058 ha; 7,556 acres) are 100% owned by the Company and are located\neast of Kootenay Lake near the community of Gray Creek in southeastern British\nColumbia. The properties are interpreted to have potential for molybdenum +\ncopper +/- gold mineralization.\n\n\nThe properties are located east of a prominent aeromagnetic anomaly\nassociated with the Crawford Stock, a biotite granite intrusion of Cretaceous\nage correlated to the Bayonne Magmatic Belt. Many of the Cretaceous intrusions\nof the Bayonne Magmatic Belt have strong aeromagnetic signatures and are\nassociated with anomalous molybdenum mineralization. Furthermore, the property\nis located immediately south of, and contiguous with, Eagle Plains Resources\nLtd.'s ("Eagle Plains") Sphinx property, for which an Inferred Resource of\n62,005,615 tonnes grading 0.035% Mo, using a cut-off grade of 0.01% Mo, was\nrecently announced (see their Press Release dated May 9, 2006). The resource\nis associated with an interpreted Cretaceous age intrusive body, with\nmineralization occurring as "disseminations and within quartz-pyrite stockwork\nveins hosted by both sedimentary and intrusive rocks".\n\n\nAn airborne geophysical program, completed by Aeroquest International in\n2006, documented strong conductors oriented north-south, interpreted to\nrepresent a steeply dipping stratigraphic sequence correlated to the uppermost\nPurcell Supergroup and lowermost Horsethief Creek Group. As previously\nreported (see Press Release dated August 3, 2006), a prominent and very strong\nmagnetic anomaly is evident on the Aeroquest data, extending essentially\nnorth-south and has a sharp, possibly faulted, eastern termination. Underlying\nthe majority of the property is a broad magnetic low, su...