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Jasper Mining Corporation announces use of proceeds for recent financing
Jasper Mining Corporation announces use of proceeds for recent financing
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[{"type":"text","content":"\n\n\n\nJan. 7, 2010 (Canada NewsWire Group) -- CALGARY, Jan. 5 /CNW/ -- Jasper Mining Corporation (\"Jasper\") is pleased to announce that during 2009 it raised $1,050,000 by flow-through share placements. These proceeds will be used by Jasper on the following projects, namely:(a) Jasper's McFarlane molybdenum property has 20 diamond drill coresto split and assay. A total of 100 diamond drill holes have beencompleted on McFarlane and approximately 20 remain to be split andassayed. As part of the current assaying, some of the holes willbe assayed from top to bottom in order to determine the presenceof disseminated molybdenum between the high grade intersections.(b) Jasper's Isintok copper/molybdenum/silver/gold property as 18diamond drill cores to split and assay. A total of 59 holes havebeen drilled on Isintok and 18 of the holes remain to be split andassayed. It is Jasper's intention to drill several deep holes fromthe surface at Isintok from the west of the current drilling areain an easterly direction at a decline of greater than 60 degreesto a depth of approximately 1200 meters with the hope ofintersecting high grade mineralization below the present depthsdrilled by Jasper. The existing drill cores have been drilled to adepth of 300 meters. As reported in Jasper's news release (No.09-216-06) dated April 27, 2009 a 224.64 meter intersection grading0.31% Cu.EQ from hole 50 and a 271.25 meter intersection grading0.27% Cu. EQ from diamond drill hole 26 as reported in Jasper'snews release (No.09-214-04) dated April 14, 2009 are regarded byJasper management as very encouraging.(c) Drill 2 to 3 diamond drill holes on Jasper's Faith gold propertyas indicated by the gold in soils data collected by Jasper.(d) Drill 2 to 3 diamond drill holes on Jasper's Sawyer lead/zincproperty where indicated by assayed surface samples and airbornegeophysical anomalies.The assaying of the existing cores will begin immediately with the drilling to commence as weather permits.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy of this release.\n\n\n\n","length":2547,"tagName":"div"}]