Trading Symbol: JSP (TSX Venture)
CALGARY, June 28 /CNW/ - Jasper Mining Corporation (the "Company" or "Jasper") has received additional tungsten results from its 100% owned Erie Creek property, located near Salmo, British Columbia. The property covers a total of 4,805 ha (11,873 acres), consisting of 14 contiguous mineral tenures over an area of approximately 70 square kilometres.
Anomalous Molybdenum-Copper-Tungsten (Mo-Cu-W) results have been previously reported for the first nine holes (see Press Releases dated April 27 and May 28, 2007) from a preliminary 10 hole, 2,904 metre diamond drill program. High grade (greater than 100 ppm or 0.01%) tungsten results were not available for drill holes 8 and 9, as well as the end of Hole 3. These results have been recently received/reviewed by the Company and are tabulated below. Note: The intervals are not considered true widths.
Further work is proposed, including additional soil sampling, prospecting and geological mapping. A follow-up diamond drill program has been initiated, with drilling having commenced June 19. The program will continue to test the mineralized system identified in the previous 10 holes, with an emphasis on drilling slightly farther to the southeast. The program will evaluate Mo-Co-W potential associated with the Erie Creek Stock and surrounding area. In particular, the area east of the surface soil anomaly interpreted to define the surface exposure of the Erie Creek Stock returned abundant Fugro Airborne Geophysical anomalies, specifically electromagnetic conductors, and is an area of considerable interest to the Company.
The recent market price for Molybdenum has exceeded US$30 per pound, Copper has been trading above US$3.00 per pound and Tungsten has been priced over US$12 per pound.
Pertinent results, with specific emphasis on tungsten-bearing intervals having greater than 100ppm or 0.01% W, are tabulated below (Note: includes previous results from Hole 3). Some very high grade results have been returned from Hole 10.
Weighted average values have been determined for select intervals, as follows:
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Hole From To Interval Cu Mo W
Number (m) (m) (m) (%) (%) (%)
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3 17.5 44.80 27.30 0.048 0.007 0.038
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including 38.71 44.80 6.09 0.063 0.016 0.113
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121.00 165.19 44.19 0.029 0.009 0.015
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209.39 227.67 18.28 0.034 0.017 0.036
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including 221.58 227.67 6.09 0.040 0.026 0.097
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5 143.50 156.10 12.60 0.042 0.002 0.015
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230.60 235.30 4.70 0.199 0.002 0.019
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8 8.23 32.61 24.38 0.043 0.047 0.014
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95.09 121.00 25.91 0.026 0.055 0.012
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9 13.11 29.87 16.76 0.044 0.068 0.013
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45.11 69.49 24.38 0.026 0.042 0.007
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115.21 134.90 12.17 0.110 0.020 0.012
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174.64 193.10 18.46 0.020 0.019 0.006
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251.60 296.56 24.04 0.027 0.030 0.009
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339.23 349.89 10.66 0.016 0.024 0.004
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377.35 386.18 8.84 0.021 0.014 0.039
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10 324.00 325.90 1.90 0.031 0.044 0.017
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including 354.20 355.38 1.18 0.138 0.224 0.07
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350.04 355.38 5.08 0.088 0.066 0.017
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The core comprising the sampled intervals was split in half, 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. Sampled intervals averaged
approximately 1.52 metres (5 feet) except for a number of high
grade mineralized intervals for which shorter sample intervals were
utilized.
Notes: N/A - High grade (greater than 100 ppm) tungsten re-analyzed
using Group 7KP analysis.
A number of single sample or short intervals in both Holes 9 and 10 returned high to very high grade molybdenum and/or tungsten values. Several of the intervals in the above table having highly anomalous molybdenum were previously reported for Hole 9 (see Press Release dated May 28, 2007) but have been included again with the corresponding tungsten values for reference. Further sampling of the intervals bracketing these samples is expected to result inidentification of thicker mineralized intervals. The results of the additional sampling are expected in the next two weeks.
Similar high grade molybdenum and/or tungsten intervals in Hole 10 have been returned. Eleven of fifty nine samples from Hole 10 returned tungsten values in excess of 100 ppm (the upper detection limit for the Group 1DX analytical package) and have been re-submitted for more quantitative analysis.
Pending further sampling and analysis, a number of high grade results from Hole 10 are reported below.
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Hole From To Interval Mo W
Number (m) (m) (m) (%) (%)
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10 108.81 110.33 1.52 0.041 0.002
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325.50 325.90 0.40 0.116 0.030
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402.00 403.00 1.00 0.034 0.061
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445.40 445.70 0.30 0.056 0.004
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The results from the preliminary 2007 drill program are considered very encouraging by management. Multiple holes returned moderately to highly anomalous Mo-W-Cu results over multiple intervals within individual holes. A 182.87 m thick interval of moderately high grade molybdenum and moderately anomalous copper (see Press Release dated May 28, 2007) was documented in Hole 8. These results are interpreted to suggest the presence of a mineralized system. The spacing between individual holes is interpreted to suggest potential for size and the results of the Fugro survey document abundant EM conductors immediately east of the surface exposure of the Erie Creek Stock which is interpreted to suggest potential for identification of further sub-surface mineralization.
The diamond drill program proposed for late June - early July is intended to test mineral potential east and southeast of the surface exposure of the Erie Creek Stock in the area characterized by abundant EM anomalies.
This press release has been prepared by Richard T. Walker, B.Sc., M .Sc., P. Geo., the "Qualified Person" under National Instrument 43-101.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.