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Jasper Mining Corporation commences 2008 exploration program on Isintok property
Trading Symbol: JSP (TSX-Venture) CALGARY, July 2 /CNW/ - Jasper Mining Corporation (the "Company...
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[{"type":"text","content":"\n\n\n\nTrading Symbol: JSP (TSX-Venture)\n\n\nCALGARY, July 2 /CNW/ - Jasper Mining Corporation (the "Company") has\nmobilized crew and equipment in support of its 2008 exploration program on its\n100% owned Isintok property. The property comprises approximately 3,007 ha\n(7,433 acres or 11.6 square miles), covering the drainage divide between\nMcNulty and Isintok creeks. The property is located west of the Okanagan\nValley in south-central British Columbia, approximately 27 km west-southwest\nof Summerland and 20 km north of Hedley.\n\n\nThe prior operator, Anaconda Canada Exploration Ltd., calculated reserves\nof 22,994,985 tonnes grading 0.067% MoS(2) (0.040 % Mo) and 0.161 % Cu (Note:\nreported prior to implementation of, and therefore not compliant with,\nNational Instrument 43-101). "... The area encompassed measures about 1000 by\n300 metres with a vertical mineralized interval of 27 metres"\n(MINFILE092HNE100).\n\n\nJasper's exploration program to date is directed toward location, and\ndefinition, of a copper-molybdenum plus/minus gold porphyry -style (i.e. large\ntonnage) deposit similar to the Brenda Mine, located approximately 40 km north\nof the Isintok property, west of Peachland. "The Brenda mine began production\nin early 1970 with measured geological (proven) reserves of 160,556,700 tonnes\ngrading 0.183 per cent copper and 0.049 per cent molybdenum at a cutoff of 0.3\nper cent copper equivalent (eCu (equal sign) % Cu +(3.45 x% Mo))" (BC MINFILE 092HNE047).\nGiven the close proximity of an available work force with supporting\ninfrastructure and using the above grades for reference, the Company believes\nthe Brenda Mine serves as a viable model for a potentially mineable\nmineralized deposit.\n\n\nExploration work completed during the 2006 field season included an\nairborne geophysical survey, 16 diamond drill holes, collection of 1,388 soil\nsamples and an Induced Potential (IP) ground geophysical survey. The results\nof this program were previously released in Press Releases dated August 11,\nAugust 28, September 26, October 25 and December 12, 2006; March 27, 2007\nandsummarized in the Press Release dated April 9, 2007.\n\n\nA total of 16 diamond drill holes were completed in 2006 with the\nmajority of the holes returning Cu values in excess of 0.1% (1,000 ppm), many\nwith accomp...