Trading Symbol: JSP (TSX-V)
CALGARY, July 27 /CNW/ - Jasper Mining Corporation (the "Company") is
pleased to announce the latest results from its diamond drill program on the
Company's 100% owned McFarlane property, located immediately west of Kootenay
Lake near the community of Gray Creek, BC. The property lies approximately 1
km west of the Company's Lydy property and is interpreted to have potential
for molybdenum (Mo) + copper +/- tungsten +/- gold mineralization.
The property overlies the eastern edge of the Crawford Stock, an
intrusion of biotite granite of Cretaceous age correlated to the Bayonne
Magmatic Belt. Many of the Cretaceous intrusions of the Bayonne Magmatic Belt
are characterized by strong aeromagnetic signatures, either within the
intrusion itself or as a halo in the surrounding host rocks, and are
associated with anomalous molybdenum mineralization. The Crawford Stock has a
prominent magnetic anomaly associated with the intrusion, evident on regional
geophysical maps. Previous soil and diamond drill programs have documented
anomalous Mo (+/- W) in the area currently covered by the property.
Furthermore, the property's western boundary is located approximately 1 km
west-southwest of the Sphinx property, for which an Inferred Resource of
62,005,615 tonnes grading 0.035% Mo, using a cut-off grade of 0.01% Mo, was
recently announced (Eagle Plains Press Release May 9, 2006). The resource is
associated with an interpreted Cretaceous age intrusive body, with
mineralization occurring as "disseminations and within quartz-pyrite stockwork
veins hosted by both sedimentary and intrusive rocks".
The Company is in receipt of the analytical results from its initial
diamond drill program on the property. A total of seven holes, comprising
approximately 1,820 metres, were completed on three pads located in the
western portion of the claims, in the vicinity of the old Ben Derby (MINFILE
082FNE125) molybdenite occurrence. A relatively large number of high grade,
narrow molybdenum-bearing veins were identified and sampled. The veins are
generally characterized by sericitic margins, up to approximately 6 cm thick,
on either side of the vein.
Holes 1 and 2 were drilled from a single set-up (Pad 1). Holes 3 and 4
were drilled from Pad 2 and holes 5 to 7 were drilled from Pad 3. The holes
were drilled at a high angle to the orientation of the host sediments at
surface, east of the mapped contact of the Crawford Stock and intersected
intrusive lithologies in the near sub-surface. All samples were taken from an
intrusive host. Pertinent drill hole data is tabulated below.
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Hole Total
Number Easting Northing Azimuth Inclination Depth (m)
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MC-06-01 516512 5495092 087 degrees -45 degrees 219.44
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MC-06-02 516512 5495092 107 degrees -65 degrees 300.82
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MC-06-03 516520 5494371 108 degrees -45 degrees 245.96
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MC-06-04 516520 5494371 114 degrees -60 degrees 224.32
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MC-06-05 516977 5494957 114 degrees -45 degrees 131.36
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MC-06-06 516977 5494957 114 degrees -65 degrees 316.06
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MC-06-07 516977 5494957 000 degrees -90 degrees 382.81
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The diamond drill holes completed in 2006 represent the initial holes
drilled on the property by the Company and were intended to follow up the
results of a limited soil sampling program completed on the property in 2005.
Further soil sampling has been completed during the 2006 field program and
will be combined into a database with the results of previous soil sampling
and diamond drill programs as documented in available Assessment Reports.
Compilation of previous results is underway.
The following is a tabulation of all analyses that returned Mo values
greater than 400 ppm (representing approximately 27% of the analyses
received). Note that molybdenum values are in ppm. Silver values are given in
ppm, except those in bold text which are in oz/t.
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From To Interval Mo(1) Ag
(m) (m) (m) (ppm) (ppm)
Hole 1
94.12 94.29 0.17 1813.6 0.2
107.98 108.21 0.23 632.5 (less than)0.1
123.00 123.22 0.22 3500 (less than)0.1
146.20 146.36 0.16 678.1 0.1
Hole 2
221.88 222.11 0.23 565.7 1.3
Hole 3
66.51 66.63 0.12 4880 0.6
66.63 66.96 0.33 2720 0.2
84.79 85.02 0.23 2130 0.3
147.80 147.90 0.10 615.9 0.2
147.90 148.00 0.10 1017.9 1.0
163.22 163.57 0.35 1012.3 0.5
Hole 4
44.57 45.11 0.54 1493.7 8.6
150.70 150.88 0.18 1628.9 0.4
Hole 5
121.00 121.10 0.10 5610 0.2
125.64 125.88 0.24 1364.5 1.7
Hole 6
41.81 41.85 0.04 1151.7 0.1
95.02 95.80 0.78 7770 0.2
98.55 98.90 0.35 1629 0.1
129.06 129.27 0.21 13060 0.2
132.15 132.55 0.40 1973.1 (less than)0.1
135.49 135.85 0.36 2980 0.2
158.03(2, 4) 158.77 0.74 1640 354.24
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189.03(2, 4) 189.91 0.88 900 1.88
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191.31(2, 4) 192.31 1.00 5180 5.04
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203.29 203.39 0.10 4270 0.3
204.36 204.51 0.15 4060 0.2
204.84 204.93 0.09 693.4 (less than)0.1
211.36 211.77 0.41 474.4 0.2
233.46 233.86 0.40 648.9 0.1
246.53(2, 4) 247.35 0.82 0.156 7.91
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253.73 253.86 0.13 6320 (less than)0.1
258.55 258.81 0.26 897.5 0.2
262.09(2, 4) 262.79 0.70 910 9.85
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Hole 7
130.00(2, 4) 137.71 7.71 0.217 2.50
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159.96 160.32 0.36 3300 0.9
164.87 165.06 0.19 26240 0.2
187.31(2, 4) 189.86 1.05 0.478 21.42
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194.87(2, 4) 196.91 2.04 0.316 3.08
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202.18 202.50 0.32 6140 0.3
212.47 212.92 0.45 3450 0.4
212.92 213.04 0.12 2940 1.6
372.62 373.06 0.44 665.2 0.4
Notes: 1. High grade molybdenum analyses were documented to a maximum
value of 2.62%
2. Values underlined represent weighted average values over the
intervals specified
3. All values for Mo in ppm (1,000 ppm (equal sign) 0.1 %)
4. Values for Ag in ppm, except those with underlined text which
are in oz/t
>>
Of note in the above tabulation is that there are a relatively large
number of high grade, narrow molybdenum intercepts, with the thickest
intercept returning a weighted average values of 0.217 ppm Mo over 7.71 m
(25.30 feet). Furthermore, many of the intervals for which weighted average
values were calculated returned high grade silver as well, to a maximum of
354.24 oz/t over 0.74 m in hole No. 6.
The core comprising the sampled intervals was cut with a rock saw, with
one half submitted for analysis and one half retained for subsequent analysis.
The core was submitted to Acme Analytical Laboratory Ltd in Vancouver, BC for
Group 1DX analysis. Samples that returned Mo results greater than 2000 ppm,
the upper detection limit for the Group 1DX package, were re-submitted for
Group 7KP - 0.50 gm analysis for determination of more quantitative results.
The results of this preliminary drill program confirm previous reports of
narrow, high grade molybdenum values previously reported from the property.
Descriptions of the host rock around these high grade veins suggests there may
be lower grade, molydenum bearing haloes around some or all of the intervals
sampled. Further sampling of the drill core is being considered to ascertain
background values for molybdenum, as well as whether low grade haloes might be
present around the high grade veins documented (thereby increasing the
thickness, but lowering the overall grade, of a given mineralized interval).
Further sampling of the core will be considered for the fall.
This press release has been prepared by Richard T. Walker, B.Sc., M .Sc.,
P. Geo., the "Qualified Person" under National Instrument 43-101.
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The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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