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Jasper Mining Corporation clarifies news releases
As a result of a review by the Alberta Securities Commission, Jasper Mining Corporation (the "Com...
About this update from Tuktu Resources Ltd
[{"type":"text","content":"\n\n\n\nAs a result of a review by the Alberta Securities Commission, Jasper\nMining Corporation (the "Company") is issuing the following news release\nto clarify our disclosure.\n\n\nTrading Symbol: JSP (TSX-V)\n\n\nCALGARY, March 11 /CNW/ - In previous news releases, the Company\noccasionally referenced an historical mineral reserve estimate for the Isintok\nproperty of 22,994,985 tonnes grading 0.067 per cent MoS2 (0.040 per cent\nmolybdenum) and 0.161 per cent copper. The estimate is from the BC\nGovernment's MINFILE database for MINFILE occurrence 092HNE100.\n\n\nAlthough Jasper has drilled a total of 54 diamond holes on its Isintok\nproperty, Jasper has not reached a position where it can release its own\nresource estimate. Additional analytical data from analysis of drill core from\nthe Isintok property has been received and will be released subsequent to\nreview by management.\n\n\nAlthough first reported by Anaconda Canada Exploration Ltd. in 1981 as a\n"reserve", and quoted verbatim on that basis, the fact that the estimate was\nbased on "... 14 widely-spaced diamond and percussion-drill holes ..."\nsuggests the "estimate", in its entirety, is more comparable to a potential\nmineral deposit that should be the target of further exploration. As such, the\nhistorical estimate is relevant to the Company's proposed exploration program\non the Isintok property.\n\n\nThe "estimate" was also jointly reported on March 5, 1996 by Amcorp\nIndustries Inc. and Verdstone Gold Corporation (VSE). The Company does not\nhave access to the data and reports underlying this historical estimate and\nis, therefore, unable to comment on the assumptions, methods or parameters.\nThere are no more recent estimates known to the Company. A qualified person\nhas not done sufficient work to classify the historical estimate as a current\nmineral resource, the Company is not treating the estimate as a current\nmineral resource, and the historical estimate should not be relied on.\n\n\nDiamond drilling completed by the Company in the area of the historical\nestimate has, however, confirmed grades of mineralization, as documented in\nthe Company's News Releases to date, interpreted to be of interest and worthy\nof further exploration. Mineralization has been documented in many drill holes\ncompleted by t...