Trading Symbol: JSP (TSX-V)
CALGARY, Nov. 29 /CNW/ - Jasper Mining Corporation (the "Company") is
pleased to announce preliminary results from the 2006 field program on its
100% owned Erie Creek property. The property consists of eight mineral tenures
comprising 3,708 ha (9,163 acres), located north of Salmo and south of Nelson.
The claims are located southwest of the former Second Relief Mine (BC MINFILE
Number 082FSW 187), the "... third largest gold-enriched skarn producer in the
province", in an area with abundant previously documented mineralized
occurrences. The most significant point with regard to the Company's
preliminary evaluation of the property is the description for the Hattie
occurrence (BC MINFILE 082FSW 226) along Erie Creek:
"Mineralization on the property occurs roughly in four concentric zones.
An inner quartz-molybdenum plus scheelite zone followed by a chalcopyrite
zone, a pyrite-pyrrhotite zone and an outer sphalerite-galena zone. The
inner zone is approximately 600 metres in diameter and is centered on the
east side of Erie Creek. The host rocks are quartz monzonite dykes,
stocks and white rhyolite. The chalcopyrite zone occurs over an area of
1.5 to 2 kilometres and occurs in quartz and sulphide veinlets as
fracture coatings and in shear veins with pyrite, pyrrhotite and minor
amounts of scheelite. The best copper values obtained, up to 1.3 per
cent, were from vein and dump samples mainly from old workings on the
west side of Erie Creek (Drum Lummon, Cooper King, Dora, Homestake).
Pyrite and pyrrhotite, in an area about 1.5 by 2.5 kilometres, occur
finely disseminated and as fracture coatings. Sphalerite and galena with
some gold occur in shear veins beyond the inner zone, such as the Arnold
(082FSW301) and Ben Hassen (082FSW300) showings.
The inner quartz-molybdenite plus or minus scheelite zone is
approximately centered on the Hattie or June 2 claim. Host rocks are
quartz monzonite dykes and stock, and white rhyolite. Grades in the zone
range from 0.01 to 0.059 per cent molybdenum; 0.0166 to 0.196 per cent
copper and 0.005 to 0.14 per cent tungsten (Assessment Report 15510).
Best results reported by McIntyre Porcupine Mines were 85 metres of
0.115 per cent MoS and 0.05 per cent copper, including 30 2 metres of
41.14 grams per tonne silver (Assessment Report 15510)". The concluding
statement from the BC MINFILE report for the Hattie occurrence states:
"The mineralization is believed to be part of a zoned porphyry-type
deposit which has a central quartz vein stockwork zone containing
molybdenum-copper-tungsten mineralization and a peripheral zone with
veins containing copper, lead, zinc and silver mineralization. This
showing is interpreted as occurring in the central stockwork zone".
In 2005, the Company undertook a Fugro Airborne Surveys ("Fugro")
geophysical survey of the property (see Press Release dated Mar. 7, 2006),
resulting in "... a total of 15 high priority (Grade 5 to 7) geophysical
anomalies, with an additional 51 moderate and 161 low grade anomalies. Of a
total of 332 geophysical anomalies identified in all categories, fully 224
were interpreted to represent discrete Bedrock Conductors. In general, the
results are interpreted to support the possibility of a buried porphyry in the
southern part of the property, localized at, or near, surface in the vicinity
of the Hattie MINFILE occurrence, as well as possible vein- and/or skarn-type
potential similar to that associated with the former Second Relief Mine (BC
MINFILE Number 082FSW 187), located immediately to the northeast".
Of considerable interest to the Company is the fact that the range in
conductivity varies from 25 to in excess of 40,000 ohm-m on the 56,000 Hz
(i.e. near surface) Resistivity map. This range of greater than 40,000 ohm-m
(or three orders of magnitude) is large and considered very unusual.
During the 2005 field season, a total of 583 soil samples were recovered
from the property. Individual samples were collected along seven separate
contour soil lines ranging from 3 to 9 km in length, located along the major
drainages throughout the property, with sample sites spaced 50 m apart.
Samples were collected from the "B" horizon, placed in kraft bags and
submitted to Acme Analytical Laboratories Ltd. for Group 1DX (39 element ICP)
analysis, using SS80 sample preparation.
Preliminary results are very encouraging with regard to continued
evaluation of porphyry potential. Tungsten (less than 100 ppm) and molybdenum
(greater than 84.8 ppm) appear to clearly delineate the informally named Erie
Creek Stock, which straddles Erie Creek and hosts the Hattie MINFILE
occurrence. Copper values between 100 and 1600 ppm also appear to be
preferentially localized within the Erie Creek Stock, as defined above. Copper
values decrease outward toward strongly anomalous lead / zinc values to the
west and northwest. The Copper King MINFILE occurrence is located on the west
side of Erie Creek, opposite the Hattie occurrence, coincident with a moderate
copper anomaly having values between 20 and 400 ppm. Previous work has
included limited drilling in an area with 10 adits and two shafts (Assessment
Report 15, 510) and has been "... interpreted as occurring in the peripheral
zone" (to a zoned porphyry), since there is no documented evidence of
molybdenum or tungsten mineralization.
Lead and zinc returned background to low within the Erie Creek Stock and
the immediately adjacent host rocks, however, a strongly anomalous zone was
delineated on two contour lines west of Erie Creek and north of Grassy Creek.
The two lines define a coincident lead-zinc anomaly 3 km long x 2 km wide,
oriented north-northwest - south-southeast. The anomaly is defined by lead
values greater than 50 ppm and zinc greater than 150 ppm. A higher grade core
is evident, defined by lead greater than 150 ppm and zinc greater than 500 ppm
(maximum values of 1882.7 Pb and 1245 Zn).
This area broadly coincides with the location of the Arnold MINFILE
occurrence, as well as five adits and five shafts documented in Assessment
Report 15,510. "Cominco drilled several holes in this area in 1926-1927. Old
reports document galena, pyrite, sphalerite and chalcopyrite in a poorly
defined "zone" of altered volcanics. In 1987, sphalerite and galena were found
in shear veins on the Arnold Reverted Crown Grant. Two samples from a quartz
vein in an old adit at elevation 1402 metres assayed 41.4 grams per tonne
silver, 0.049 grams per tonne gold and 67.3 grams per tonne silver, 0.032
grams per tonne gold, respectively (Assessment Report 15510)" (MINFILE
082FSW301).
As a result, an apparent metal zonation is evident along Erie Creek.
Molybdenum, tungsten and high grade copper values appear to be localized
within, or immediately adjacent to, the Erie Creek Stock. Copper decreases
outward (presumably away from the Erie Creek Stock) coincident with increasing
lead and zinc, spatially associated with a pyrite-pyrrhotite zone. These
observations support interpretations documented in earlier Assessment Reports
(and MINFILE)
In addition, a number of strongly anomalous gold values were documented,
with multiple values between 10 and 50 ppb within, and adjacent to, the Erie
Creek Stock. These are interpreted to support the interpretations above
regarding the presence of a zoned porphyry localized within the Erie Creek
Stock, with associated anomalous metals in the surrounding host rocks.
Of particular interest is the presence of 9 gold values exceeding 50 ppb,
with 4 between 1000 and 1500 ppb, immediately west of Erie Creek at the
northeastern margin of the prominent lead-zinc anomaly surrounding the Arnold
occurrence. The values are at the northern end of a soil line and may,
therefore, extend farther north. Weakly anomalous gold values were documented
on the east side of Erie Creek, directly to the east, however, only background
values were returned on the next (topographically higher) line to the west.
Further work is proposed for 2007 to further evaluate this gold anomaly.
The Company is very encouraged by the results of the 2006 soil program,
which appears to have successfully delineated both a zoned porphyry intrusion
and a large base metal geochemical anomaly. A third, highly anomalous gold
anomaly will require further work to evaluate in 2007.
The Company has a permit approved for diamond drilling on the Erie Creek
property, which will be amended on the basis of the soil results (discussed
above) for the 2007 field season. The proposed diamond drill program will
initially emphasize evaluation of the Erie Creek Stock and possible Cu-Mo+/-
Au +/-W potential. Further field work is proposed in an attempt to determine
the nature of the lead-zinc anomaly and, therefore, the optimal orientation
for subsequent drill testing.
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.
