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Jasper Mining Corporation announces a high grade molybdenum interval of 7.3 metres grading 0.889% molybdenum on the McFarlane property
Jasper Mining Corporation announces a high grade molybdenum interval of 7.3 metres grading 0.889% molybdenum on the McFarlane property.
About this update from Tuktu Resources Ltd
[{"type":"text","content":"\n\n\n\nTrading Symbol: JSP (TSX-V)\n\n\nCALGARY, July 4 /CNW/ - Jasper Mining Corporation (the "Company")\nannounces results from its recently completed diamond drill program on its\nMcFarlane property located immediately west of Kootenay Lake near the\ncommunity of Gray Creek, BC. The property is adjacent to and is contiguous\nwith the Company's Lydy property. Together the Lydy and McFarlane properties\ncomprise a composite property of 10,524 acres encompassing an area 11 km\neast-west by 4 km north-south. Both the Lydy property (2,968 acres) and the\nMcFarlane property ( 7,556 acres) are 100% owned by the Company and are\ninterpreted to have potential for molybdenum plus copper and/or gold\nmineralization.\n\n\nThe recently completed drill program was intended to test a series of\naggressive EM and/or magnetic anomalies identified by Aeroquest Limited at the\nCompany's request. Hole 2 of the program returned a number of high grade but\nvery narrow width assays.\n\n\nOf particular interest to the Company are the results of hole 4 drilled\napproximately 180 metres south-southeast of Pad 3 (holes 5 to 7) from the 2006\ndrill program (see Press Release dated July 27, 2006) returning a very high\ngrade 7.3 metre interval having a weighted average grade of 0.889% Mo. Some of\nthe data from hole 4 is contained below:\n\n\n\n -------------------------------------------\n Hole From To Width Mo\n (m) (m) (m) (%)\n -------------------------------------------\n 4 201.5 208.8 7.3 0.889\n -------------------------------------------\n including 204.5 205.6 1.1 1.386\n -------------------------------------------\n 207.1 208.8 1.7 1.993\n -------------------------------------------\n\n The core comprising the sampled intervals was split in half with one\n half submitted for analysis and one half retained for subsequent\n analysis. The core was submitted to Acme Analytical Laboratory Ltd in\n Vancouver, BC for Group 1DX analysis. Sampled intervals averaged\n approximately 1.52 metres (5 feet) except for a number of high grade\n mineralized intervals for which shorter sample intervals were\n utilized.\n\n High grade Mo (greater than 2000 ppm) results were re-analyzed using\n the Group 7KP package.\n\n Note: The recent market price for Molybdenum is approximately\n US$35 per pound.\n\n\n\nAs a result of these high grade results drill c...