Trading Symbol: JSP (TSX-V)
CALGARY, Sept. 29 /CNW/ - Jasper Mining Corporation (the "Company") is
pleased to announce preliminary airborne geophysical results from the
Company's 100% owned Sawyer property, located east of Kootenay Lake,
approximately 70 km west-northwest of Cranbrook, BC. The property comprises
approximately 1,566 ha (3,870 acres) located immediately south of the
St. Mary's River. The property is underlain by sediments related to
Proterozoic strata of the uppermost Purcell Supergroup and lower Horsethief
Creek Group intruded by a small Cretaceous age intrusion related to the
Bayonne Magmatic Suite. Previous work completed on these intrusions by the BC
Geological Survey Branch suggested they may have intrusion-related gold
potential.
An Aeroquest International ("Aeroquest") airborne geophysical survey was
recently completed on the Crawford property and the Company is in receipt of
the preliminary data, comprised of electromagnetic, magnetic and radiometric
data. Electromagnetic ("EM") data is expected to identify and delineate
possible conductors, which may include faults and/or mineralized veins.
Magnetics is expected to allow differentiation of intrusive phases from
sedimentary strata hosting the intrusions and, therefore, allow identification
of one possible control to mineralization. Finally, the radiometric portion of
the survey detects the response of three radioactive elements, specifically,
potassium, thorium and uranium. Again, radiometrics may allow the Company to
differentiate separate intrusive phases.
The magnetic data documents one large, and several smaller, magnetic
anomalies on either side of a small east flowing tributary into Sawyer Creek.
Cretaceous intrusions correlated to the Bayonne Magmatic Suite are associated
with both strong magnetic anomalies over the corresponding intrusions (i.e Fry
Creek Batholith) and magnetic haloes surrounding the intrusion (i.e. White
Creek Batholith). Therefore, these anomalies are tentatively interpreted to
correlate to the intrusion.
The Electromagnetic data document a number of small EM anomalies on both
Z- and X-axis data, although the Z-axis data appears to document several
larger anomalies on the south side of the tributary, south of the magnetic
anomalies and the interpreted location of the intrusive phases. Of particular
interest is the correlation of coincident Z- and X-axis EM anomalies with a
UTEM anomaly identified by previous operators in 1997. A ground based UTEM
survey identified "... two conductors or conductive zones striking across the
small survey grid. The westerly (weak) conductor ... appears to be dipping
shallowly to the east ... and has a depth extent of approximately 200 m. The
second conductor ... shallow to the east and appears to have a conductance
more than 50 siemens and a depth extent of at least 500 m." Trenching and/or
drilling was recommended to further evaluate these anomalies.
The radiometric data appears to document the intrusive lithologies, with
correlation between potassium (K), thorium (Th), uranium (U) and Total Count
(TC) data. The data appears to indicate east-northeast trending anomalies,
moderately to highly oblique to the mapped trend of the host strata. The
radiometric anomalies appear to correlate moderately well with the magnetic
data, interpreted to suggest that intrusive lithologies occupy topographic
highs on the property, possibly associated with more resistant lithologies.
The preliminary results of the Aeroquest survey are very interesting,
particularly with respect to the previous small UTEM survey results. In
addition, previous, rather limited, exploration programs resulted in
identification of lead-zinc mineralization, from which small hand samples
returned grades up to 9.06% lead, 19.87% zinc and 10.05 oz/ton silver. Float
"... samples from scree indicate the mineralized horizon is broadly segregated
into a lead rich band, combined lead and zinc, and a zinc rich band. The
sulphides are contained within well defined bedding planes, with evidence of
minor remobilization."
Initial interpretation of the preliminary airborne geophysical data,
together with limited data from previous programs, strongly suggest further
evaluation of the property is warranted. The Company is awaiting the final
report from Aeroquest with interpretation of results and identification of
favourable anomalies from the survey. The final report is expected within the
next two to four weeks. A review of the all the Company's East Kootenay
airborne geophysical survey data with representatives of Aeroquest is
scheduled in the near future.
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.
