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Jasper Mining Corporation announces drill results from McFarlane property
Jasper Mining Corporation announces drill results from McFarlane property.
About this update from Tuktu Resources Ltd
[{"type":"text","content":"\n\n\n\n\nTrading Symbol: JSP (TSX-V)\n\nCALGARY, July 27 /CNW/ - Jasper Mining Corporation (the \"Company\") is\npleased to announce the latest results from its diamond drill program on the\nCompany's 100% owned McFarlane property, located immediately west of Kootenay\nLake near the community of Gray Creek, BC. The property lies approximately 1\nkm west of the Company's Lydy property and is interpreted to have potential\nfor molybdenum (Mo) + copper +/- tungsten +/- gold mineralization.\nThe property overlies the eastern edge of the Crawford Stock, an\nintrusion of biotite granite of Cretaceous age correlated to the Bayonne\nMagmatic Belt. Many of the Cretaceous intrusions of the Bayonne Magmatic Belt\nare characterized by strong aeromagnetic signatures, either within the\nintrusion itself or as a halo in the surrounding host rocks, and are\nassociated with anomalous molybdenum mineralization. The Crawford Stock has a\nprominent magnetic anomaly associated with the intrusion, evident on regional\ngeophysical maps. Previous soil and diamond drill programs have documented\nanomalous Mo (+/- W) in the area currently covered by the property.\nFurthermore, the property's western boundary is located approximately 1 km\nwest-southwest of the 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 (Eagle Plains Press Release May 9, 2006). The resource is\nassociated 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\".\nThe Company is in receipt of the analytical results from its initial\ndiamond drill program on the property. A total of seven holes, comprising\napproximately 1,820 metres, were completed on three pads located in the\nwestern portion of the claims, in the vicinity of the old Ben Derby (MINFILE\n082FNE125) molybdenite occurrence. A relatively large number of high grade,\nnarrow molybdenum-bearing veins were identified and sampled. The veins are\ngenerally characterized by sericitic margins, up to approximately 6 cm thick,\non either side of the vein.\nHoles 1 and 2 were drilled from a single set-up (Pad 1). Holes 3 and 4\nwere drilled from Pad 2 and holes 5 to 7 were drilled from Pad 3. The ho...