Trading Symbol: JSP (TSX-Venture)
www.jaspermining.com
CALGARY, May 28 /CNW/ - Jasper Mining Corporation (the "Company" or "Jasper") announces additional 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.
During February and April 2007, Jasper completed a preliminary 10 hole, 2,904 metre diamond drill program in an area of approximately 1,750 metres length by 340 metres width, recovering thick to very thick intervals of moderate to high grade mineralization documented in multiple holes. Furthermore, short intervals of high grade mineralization were documented, including molybdenum (Mo) greater than 0.2% over 1.18 metres, copper (Cu) up to 3.62% over 0.20 metres and tungsten (W) up to 0.32% over 1.52 metres. Note: Thicknesses quoted are not considered true widths.
Approximately $480,000 in exploration expenditures have been made on the Erie Creek property to date. Jasper Management is very encouraged by the initial results from the property and considers it a property of great interest, particularly with the value of molybdenum ranging between US$25.50 to US$30.25 per pound over the past year. The Erie Creek assays also contain significant tungsten and low grade gold and silver. Further work is proposed, including additional soil sampling, prospecting and geological mapping, followed by additional diamond drilling in 2007. Particulars of these results are explained in further detail below.
Results were previously released for Holes 1, 2 and 5 (see Press Release dated April 27, 2007). Analyses have been received for holes 3, 7B, 8 and 9, together with high grade (greater than 100ppm or 0.01%) tungsten results from earlier drill holes. High grade tungsten values are pending for the end of hole 3, as well as holes 8 and 9 and will be released once received.
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 38.71 44.80 6.09 0.063 0.016 0.113
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212.44 224.63 12.19 0.034 0.014 0.052
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221.58 227.67 6.09 0.040 0.026 0.097
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7B 185.00 200.24 15.24 0.041 0.017 0.003
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8 0.61 32.61 32.00 0.043 0.036 N/A
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including 8.23 32.61 24.38 0.043 0.047 N/A
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92.05 274.92 182.87 0.048 0.018 N/A
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including 92.05 153.00 60.65 0.026 0.037 N/A
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including 92.05 122.52 30.47 0.026 0.053 N/A
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including 130.14 153.00 22.86 0.027 0.028 N/A
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including 188.05 247.49 59.44 0.075 0.010 N/A
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including 207.86 238.34 30.48 0.081 0.011 N/A
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9 13.11 29.87 16.76 0.044 0.068 N/A
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45.11 69.49 24.38 0.026 0.042 N/A
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115.21 125.88 10.67 0.113 0.021 N/A
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174.64 193.10 18.46 0.020 0.019 N/A
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251.60 296.56 24.04 0.027 0.030 N/A
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339.23 349.89 10.66 0.016 0.024 N/A
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377.35 386.18 8.84 0.021 0.014 N/A
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The core comprising the sampled intervals was cut 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 m (5 ft) 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 results not yet available.
A number of single or short sample intervals returned high to very high grade molybdenum values. As additional molybdenum may be present above and/or below these intervals, additional sampling will be undertaken so as to provide a continuous sample sequence throughout the hole. Further analysis bracketing these samples is expected to result inidentification of thicker mineralized intervals. Single samples taken from intervals with obvious molybdenum mineralization returned high grade values, as follows:
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Hole From To Interval Mo
Number (m) (m) (m) (%)
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9 34.38 35.96 1.58 0.033
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35.96 37.49 1.53 0.035
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87.78 89.30 1.52 0.035
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89.30 90.83 1.53 0.025
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97.80 99.40 1.60 0.095
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102.00 103.50 1.50 0.092
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105.70 107.30 1.60 0.108
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109.11 110.64 1.53 0.070
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169.83 170.30 0.47 0.055
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Holes 1 to 5 were drilled almost parallel to Erie Creek. Single holes were drilled from each pad, with pads separated by 160 to 320 metres (north-northwest - south-southwest) overapproximately 1.12 km. Holes 6 to 10 were drilled along the Erie Creek Forest Service Road on the east side of Erie Creek over a distance of approximately 1.75 km, with pads separated by 200 to 340 m (north-south). Distance between pads in an east-west direction varied between 120 and 340 metres northeast - southwest. The area drilled, therefore, was approximately 1.75 km in length (north-northwest - south-southeast) by 340 m northeast-southwest.
Mineralization appears to increase from holes 4 to 6, southernmost holes which were weakly mineralized, to the northwest (holes 1 to 3) and, in particular, northward to holes 8 and 9 (reported below). The results of the program are considered encouraging in that this preliminary program, utilizing the existing road network to undertake an initial evaluation of both airborne geophysics and surface soil results, documented highly anomalous molybdenum, tungsten and copper mineralization in multiple holes.
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.