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Jasper Mining Corporation - Management discussion on latest high grade molybdenum results from McFarlane property; 0.889% Mo over 7.3 m.
Jasper Mining Corporation - Management discussion on latest high grade molybdenum results from McFarlane property; 0.889% Mo over 7.3 m..
About this update from Tuktu Resources Ltd
[{"type":"text","content":"\n\n\n\nTrading Symbol: JSP (TSX-V)\n\n\nCALGARY, July 12 /CNW/ - Jasper Mining Corporation recently announced a\nsignificant high grade molybdenum intercept from its McFarlane property\nlocated immediately west of Kootenay Lake near the community of Gray Creek,\nBC. The property is adjacent to and is contiguous with the Company's Lydy\nproperty. Together the Lydy and McFarlane properties comprise a composite\nproperty of 10,524 acres encompassing an area 11 km east-west by 4 km\nnorth-south. The Lydy property and the McFarlane property are 100% owned by\nJasper and have potential for molybdenum plus copper and/or gold\nmineralization.\n\n\nA 7.3 metre interval (may not represent a true width) drilled at a -45\ndegree inclination returned a weighted average value of 0.889% molybdenum\ncomprised of quartz plus pyrite plus molybdenum vein(s) within a granite host\n(see News Release dated July 4, 2007). Hole 5(07) was drilled approximately\n180 m south of 2006 Holes 5 to 7 (see Press Release dated July 27, 2006)\nspecifically to test for the presence of this vein horizon. The results of\nHole 5(07) are interpreted to indicate the vein is continuous or part of an en\nechelon vein array over the 180 m between last year's Holes 5 to 7 (Pad 3) and\nthe recently completed Hole 5(07).\n\n\nThe emphasis of the 2006 drill program was to test for disseminated\nmineralization for a possible high tonnage deposit. The combined 2006-07\nresults are interpreted to indicate possible potential for a high grade\ndeposit of unknown tonnage. The structural control on mineralization is\nuncertain at this time. Further work will be undertaken on both the 2006 and\n2007 drill core including further sampling of small molybdenum-bearing veins\nin the 2006 core in order to obtain a better understanding of these controls.\nMany of these small mineralized veins from the 2006 drilling season were not\nsampled.\n\n\nPrevious programs on the property returned similarly narrow but high\ngrade molybdenum-bearing intervals up to 0.8% over 1.22 m. The results of the\nCompany's 2006-07 program has confirmed similar high grade mineralization over\nsmall intervals (1.993% over 1.70 m).\n\n\nThe property overlies the eastern edge of the Crawford Stock, a\nCretaceous intrusion correlated to the Bayonne Magmatic Belt. The intrusion is\nevidenced on the Company's Aeroques...