Trading Symbol: JSP (TSX-V)
CALGARY, Sept. 5 /CNW/ - Jasper Mining Corporation (the "Company") is
pleased to announce it has mobilized a diamond drill to its 100% owned Irony
property, located approximately 94 km northwest of Revelstoke, BC and
southwest of Mica Dam. The property consists of sixteen mineral tenures,
comprising a total of approximately 6,028 ha (14,895 acres), located at the
headwaters of Oliver and Ruddock Creeks.
The Irony property is contiguous with, and immediately south of Selkirk
Metals Corp.'s ("Selkirk") Ruddock Creek property, on which active exploration
programs have been completed over the past two years. The results of these
programs are summarized in a number of Press Releases and a Technical Report
filed for Selkirk's Ruddock Creek property (available through SEDAR at
http://www.sedar.com). Briefly, previous work by Cominco and Falconbridge
resulted in identification of an extensive mineralized zone. Diamond drilling
by Selkirk over the past two years has confirmed mineralization associated
with the "E Zone" and the "E Zone Extension", localized within the "Ruddock
Creek Massive Sulphide Horizon" (RCMSH).
The Company recently completed an Aeroquest airborne electromagnetic and
magnetic survey of the Irony property (see Press Release dated May 31, 2006),
comprised of a total of 564 line km flown over the entirety of the property.
The final report and maps have been received by the Company and are currently
under review. The final data confirms the apparent geophysical signature
believed to correlate to the western extension of the RCMSH (as identified
from Aeroquest geophysical data released by Selkirk) extending west into the
Oliver Creek valley. With regard to other anomalies on the Irony property,
anomalies identified and previously discussed from the preliminary magnetic
data are identical on the final data.
The final data documents two strong linear anomalies on the west side of
Oliver Creek, interpreted to correlate to the RCMSH and consistent with
previous projections for the location of the mineralized horizon. Three
separate drill pads have been proposed to test the most prominent of the
anomalies on the west side of Oliver Creek. Two additional pads have been
proposed to test a prominent set of anomalies immediately south of the "E
Zone", having a similar magnetic signature to that reported for the "E Zone".
Preliminary reconnaissance in the immediate vicinity of the drill pads
has been completed. The first two pads to be drilled are positioned to test a
prominent pair of anomalies immediately south of the "E Zone". An extensive
pair of relatively thick, iron-stained horizons have been noted which appear
to correspond spatially to the magnetic anomalies. The horizons extend across
the full width of the valley at the headwaters of Ruddock Creek. The upper
horizon appears to be a minimum of 15 m thick (apparent thickness defined on
the basis of prominent iron staining) and has a geophysical signature at least
1.8 km in length. The lower horizon is estimated to be a minimum of 25 m thick
and extends approximately 1.1 km in length. The upper anomaly will be tested
by holes drilled from pad 1. The lower anomaly will potentially be tested by
holes from both pads 1 and 2. Initial structural measurements taken in the
area are broadly consistent with, and are interpreted to indicate, a
relatively simple structural setting for these target horizons.
A prominent linear magnetic anomaly is evident on the west side of Oliver
Creek in a location for the RCMSH anticipated from projections previously made
from available structural data. On the magnetic maps, the anomaly appears to
be cutting topographically upward to the south. On the First Vertical
Derivative map, the anomaly is cross-cut by at least two slightly oblique
magnetic anomalies. The strong, primary anomaly is interpreted to potentially
represent the RCMSH. The nature of the secondary anomalies is uncertain at
this time but they may represent obliquely cross-cutting mafic dykes and/or
faults. A total of three pads are proposed to test the primary anomaly at
three locations along the length of this anomaly.
The drill program is proposed to rapidly test three of the more prominent
magnetic anomalies before the end of the season. Due to the high elevation of
the property, poor weather is anticipated as early as mid-September when
helicopter support for drilling is expected to be strongly compromised by
weather. Therefore, the holes comprising this initial program are expected to
be relatively short (a maximum of approximately 300 m) with the possibility of
only a single hole from each pad. The intent is to provide a means of
quantitatively evaluating and prioritizing the numerous geophysical anomalies
evident on the property for subsequent drill programs. Obviously, the primary
objective for each hole is, ideally, to intersect the RCMSH. Realistically,
the holes are expected to provide valuable structural and stratigraphic
information with which to attempt correlations with the RCMSH as documented by
Selkirk and thereby provide more confidence in planning future drill programs.
With Selkirk Metals having traced the mineralized horizon, distinguished
by a prominent magnetic signature and surface soil geochemistry, westward into
Oliver Creek, management believes there is sufficient geophysical and/or
geochemical evidence suggesting the RCMSH extends onto the Irony property.
Given the presence of a prominent gossan along the projection of the
mineralized horizon in the headwaters of Oliver Creek, and a similar gossan in
the headwaters of Ruddock Creek, management believes the Irony property has
the potential for identification of one (or more) mineralized horizons similar
to, or correlated with, the Ruddock Creek Massive Sulphide Horizon previously
reported by Selkirk.
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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