Trading Symbol: JSP (TSX-V)
CALGARY, Sept. 28 /CNW/ - Jasper Mining Corporation (the "Company")
recently reported final results from the initial 2006 diamond drill program on
its 100% owned Isintok property (see Press Releases dated August 11, August 28
and September 26, 2006). The tenures comprising the property cover an area of
approximately 60.3 square km (23.3 square miles), or 6,029 ha (14,898 acres)
at the height of land between McNulty and Isintok creeks, approximately 27 km
west-southwest of Summerland, BC and 20 km north of Hedley.
The Company's diamond drill results from the property continue to
document copper (Cu) +/- molybdenum (Mo) +/- gold (Au) +/- silver (Ag) from
the area of current interest. This area was previously identified during an
initial drill program in 1972, with subsequent holes in 1981 and 1997 (see
Press Release dated Mar. 15, 2006 for a tabulation of significant results from
the property to that date). A total of 63 percussion and diamond drill holes
have been documented on the property, with 28 percussion and diamond drill
holes in the area of interest, which extends 960 m north-south by 440 m
east-west.
A total of 10 diamond drill holes were completed by the Company on the
property as part of the preliminary 2006 exploration program. The Company's
drill holes are within an area approximately 200 m east-west by 565 m
north-south. The area currently being drilled is located on the fringe of
coincident magnetic and resistivity anomalies identified from a Fugro airborne
geophysical survey (see Press Release dated Nov. 16, 2006). This area is
characterized by anomalous mineralization as documented in previous programs.
The drill program was temporarily suspended in late July due to significant
delays in receiving analytical data. The purpose of the delay is to allow
sufficient time for receipt of full analytical results from the initial drill
program so as to allow identification of any mineralized zones in the
sub-surface and ascertain how they lie with regard to adjacent holes. This
information was considered sufficiently important to further drilling that the
program was temporarily suspended.
In addition, the results of a limited surface soil sampling program have
also been received and are being evaluated with regard to the airborne
geophysical and sub-surface drill results. The soil data received confirm a
spatial association between surface soil anomalies and underlying sub-surface
mineralized zones. The data document anomalous geochemical (i.e. copper)
results extending both north and south of the area currently being drilled.
On the basis of all results to date, the ongoing objective of the
Company's exploration program is to define a copper-molybdenum +/- silver
+/- gold porphyry style deposit similar to the Brenda mine, located
approximately 40 km north of the Isintok property, west of Peachland. "The
Brenda mine began production in early 1970 with measured geological (proven)
reserves of 160,556,700 tonnes grading 0.183 per cent copper and 0.049 per
cent molybdenum at a cutoff of 0.3 per cent copper equivalent (eCu (equal sign) % Cu +
(3.45 x % Mo))" (B C MINFILE 092HNE047) (Note: reported prior to
implementation of, and therefore not compliant with, National Instrument
43-101).
Weighted averages have been presented for all holes completed during the
initial 2006 drill program to demonstrate the consistent grade of the
mineralization in the holes. As a preliminary interpretation of the results,
it appears there may be a near surface mineralized zone (possibly representing
a supergene effect), with up to two zones of anomalous copper +/- molybdenum
+/- silver +/- gold at depth. As a generalization, molybdenum values were
greater in the holes to the south and bornite appears to be increasing in
abundance to the north. Gold has been documented in many of the samples, with
some very high grade values (to 3945 ppb) returned. A large proportion of the
samples have silver values, allowing a weighted average to be determined for
entire holes and select intervals. Finally, a number of high grade tungsten
values have been documented, to 0.33% W, from scheelite bearing quartz veins.
Evaluation of drill core suggests there may be a later, barren intrusive
phase associated with the strong magnetic anomaly documented immediately to
the west, and cored in Hole ISIN-06-09 and the upper part of Hole 10.
Anomalous copper mineralization was subsequently documented in the lower part
of Hole 10 (see Press Release dated Sept. 26, 2006). On the basis of these
results, the Company intends to continue the 2006 drill program by re-entering
Hole 09 and deepening it to the second expected mineralized zone at slightly
greater depth. The objective of the next phase of drilling is to move
northward from the current area of interest so as to extend the area of
anomalous mineralization and higher grade mineralized zones farther to the
north. The mineralized zones are interpreted to be steeply west dipping, so
the optimal angle for drilling is believed to be -45 degrees toward Az 045
degrees.
The Company is currently actively investigating the possibility of having
an Induced Potential (IP) survey on the property. The survey proposed consists
of 18 east-west lines spaced 100 m apart and approximately 1 km in length. As
a result, the survey would extend 1.8 km north from 2006 pad 1 (see Press
Release dated Sept. 26, 2006 for location) and entirely cover the area
currently being drilled and extend north toward the location of last years
Hole ISIN-06-01.
The Company continues to be very encouraged by the results of the 2006
drill program. The results continue to document anomalous copper-molybdenum
+/- silver +/- gold porphyry style mineralization. Holes ISIN-06-09 and 10
represent the deepest holes completed on the property to date and documented
anomalous mineralization at depth. Mineralization currently identified remains
open at depth and in all directions (north/south/east/west).
The Company will be re-mobilizing to continue the diamond drill program
on the property on or about October 6th, 2006.
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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