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Jasper Mining Corporation announces results of airborne geophysical survey on Lydy property
Jasper Mining Corporation announces results of airborne geophysical survey on Lydy property.
About this update from Tuktu Resources Ltd
[{"type":"text","content":"\n\n\n\n\nTrading Symbol: JSP (TSX-V)\n\nCALGARY, Aug. 1 /CNW/ - Jasper Mining Corporation (the \"Company\") is\npleased to announce the latest results from the Company's 100% owned Lydy\nproperty, located west of Kootenay Lake near the community of Gray Creek, BC.\nThe property lies approximately 1 km east of the Company's McFarlane property\n(see Press Release dated July 27, 2006). The Lydy property is interpreted to\nhave similar potential for molybdenum + copper +/- gold mineralization.\nThe property is 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 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\".\nAn Aeroquest International (\"Aeroquest\") airborne geophysical survey was\nrecently completed on the Lydy property and the Company is in receipt of the\npreliminary data, comprised of electromagnetic and magnetic data.\nElectromagnetic (\"EM\") data is intended to identify and delineate possible\nconductors, which may include faults, mineralized veins and/or porphyry-style\nmineralization. Magnetics is expected to allow differentiation of intrusive\nphases within sedimentary strata hosting the intrusions and, therefore, allow\npossible identification of at least one possible control to mineralization.\nThe preliminary data documents prominent magnetic and EM, generally\nelongate to linear anomalies within the north-trending mapped geology. Eagle\nPlains has reported their Inferred Resource to be associated with a quartz\nmonzonite having a very small surface exposure approximately 1,300 m north of\nthe Lydy property. The sub-surface projection of the mineralized qua...