Trading Symbol: JSP (TSX-Venture)
CALGARY, Nov. 19 /CNW/ - Jasper Mining Corporation (the "Company") has received additional analytical results from the top of holes 34 and 36, as well as additional infill sampling for hole 18 (previously released) from its 100% owned Isintok property. The property comprises approximately 2,839 ha (7,015 acres or approximately 11.0 square miles), covering the drainage divide between McNulty and Isintok creeks. The property is located west of the Okanagan Valley in south-central British Columbia, approximately 27 km west-southwest of Summerland and 20 km north of Hedley.
A total of 54 holes have been drilled by the company, with a total of 16 completed as part of the Company's preliminary evaluation program and a further 38 completed as part of the highly successful 2008 exploration program. The 2008 holes were completed to evaluate sub-surface mineralization, of the porphyry mineralized resource corresponding to coincident surface soil and Induced Potential (geophysical) anomalies.
Hole IS-08-34 was drilled from the west side of the coincident soil/IP anomaly and oriented to the east (65 degrees) at -75 degrees. Vein density visually documented in the hole was the greatest of any hole recovered to date. As a result, Hole 34 is considered the discovery hole for a potential Cu- Mo +/- Ag +/-Au deposit at Isintok. Additional results have recently been received for the top portion of Hole 34. The following table includes all significant results from the hole to date.
Hole 36 was also drilled from the west flank of the coincident anomaly, from the same pad as Hole 34, oriented northeastward (45 degrees) at -60 degrees into mineralization controlled by steeply, generally west dipping structures. It is interpreted to have been drilled at a moderate angle to the controlling structures. Additional results have recently been received for the top portion of Hole 36. Again, the following table includes all significant results from the hole to date.
Results for hole 18 were previously released (see News Release dated September 3, 2008), however, additional sampling has been completed so as to complete sampling of mineralized intervals. Hole 18 was drilled from the east side of the coincident anomaly in a westerly direction at 270 degrees at -60 degrees. Hole 18 is approximately 250 metres southeast of holes 34 and 36. The Company is awaiting results from re-sampling in the middle portion of the hole so as to complete sampling of the hole from bedrock to the end of the hole. These results will be released when received. Hole 18 was the second hole completed of the 2008 program.
Management also wishes to emphasize the point that while the project is currently being evaluated as a Cu - Mo porphyry deposit, numerous very high grade molybdenum intercepts have been documented, with single sample intervals to 3.985% Mo (6.647% MoS(2)) over 0.32 m and composite 2 intervals grading 0.055% Mo (0.092% MoS(2)) over 44.58 m. Local high grade values for silver (40.30 g/t over 1.18 m), Au (2.591 g/t over 1.18 m) and tungsten (0.25% over 1.12 m) have also been documented.
The following table is a compilation of high grade analytical results for copper +/- molybdenum +/- silver +/- gold for holes (IS-08-18, 34 and 36).
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Hole From To Width Cu(2) Mo MoS(2)(3) Ag Au
Number (m) (m) (m) (%) (%) (%) (g/t) (g/t)
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IS-08-18 7.00 12.23 5.23 0.092 0.015 0.025 1.02 0.346
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including 7.43 7.64 0.21 0.077 0.242 0.404 1.10 0.031
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including 10.82 11.71 0.89 0.320 0.021 0.035 3.80 0.123
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including 11.71 12.23 0.52 0.239 0.013 0.022 1.6 0.050
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24.26 69.31 45.05 0.562 0.047 0.078 2.538 0.074
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including 51.97 52.68 0.71 0.360 0.070 0.117 1.900 0.034
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including 56.99 58.51 1.52 0.891 0.007 0.012 2.900 0.104
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including 58.51 58.87 0.36 11.218 0.118 0.197 40.30 2.592
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including 59.91 60.04 0.13 1.092 0.005 0.008 5.000 0.019
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including 60.04 61.31 1.27 1.334 0.004 0.007 10.30 0.144
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including 61.89 62.49 0.60 5.151 0.035 0.058 33.10 0.645
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including 62.49 63.34 0.85 1.186 0.047 0.078 12.90 0.080
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including 64.62 66.14 1.52 2.927 0.667 1.113 16.60 0.217
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including 66.14 67.66 1.52 4.862 0.534 0.891 8.00 0.359
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69.48 69.63 0.15 0.487 0.002 0.003 1.80 0.021
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85.37 85.59 0.22 1.044 0.000 0.003 2.20 0.048
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96.62 108.68 12.06 0.437 0.042 0.070 2.674 0.099
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including 97.64 97.88 0.24 1.363 0.004 0.007 9.00 0.109
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including 98.14 99.66 1.52 0.553 0.041 0.068 3.80 0.051
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including 99.66 101.18 1.52 0.300 0.024 0.040 1.90 0.025
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including 102.71 104.23 1.52 0.400 0.005 0.008 2.90 0.036
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including 104.23 105.76 1.53 0.692 0.053 0.088 3.80 0.048
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including 105.76 106.87 1.11 0.209 0.009 0.015 3.80 0.704
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including 106.87 107.42 0.55 1.237 0.378 0.631 2.40 41.60
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including 107.42 108.50 1.08 0.337 0.079 0.132 0.90 0.018
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including 107.42 108.50 0.18 0.348 0.002 0.003 0.80 0.017
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110.24 111.86 1.62 0.504 0.039 0.065 7.40 0.215
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IS-08-34 14.87 37.78 22.91 0.136 0.038 0.064 1.143 0.033
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including 16.09 16.75 0.66 1.173 0.067 0.112 4.2 0.432
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including 18.47 19.01 0.54 0.282 0.053 0.088 5.4 0.049
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including 29.36 30.03 0.67 0.930 0.128 0.213 6.4 0.283
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including 31.32 31.74 0.42 0.364 0.275 0.459 3.2 0.081
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including 35.66 36.20 0.54 0.276 0.009 0.015 2.6 0.026
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including 36.20 36.87 0.67 0.471 0.830 1.384 4.6 0.055
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including 142.85 143.01 0.16 0.199 0.004 0.007 1.8 0.054
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including 147.64 242.31 94.67 0.086 0.015 0.026 0.77 0.024
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including 151.56 151.94 0.38 0.215 0.001 0.002 2.9 0.185
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including 166.19 166.40 0.31 0.176 0.003 0.005 2.3 0.322
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including 169.66 170.05 0.39 0.146 0.004 0.007 1.3 0.112
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including 175.30 175.90 0.60 0.189 0.029 0.048 1.7 0.093
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including 175.90 176.91 1.01 0.169 0.050 0.083 1.7 0.100
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including 176.91 178.02 1.11 0.115 0.021 0.035 1.3 0.052
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including 185.61 187.11 1.50 0.128 0.026 0.043 0.7 0.014
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including 185.61 187.11 1.50 0.128 0.026 0.043 0.7 0.014
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including 187.11 188.66 1.55 0.112 0.029 0.048 0.6 0.005
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including 188.66 189.88 1.22 0.216 0.046 0.077 2.5 0.136
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including 189.88 190.68 0.80 0.146 0.075 0.125 1.3 0.032
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including 191.59 192.54 0.95 0.190 0.053 0.088 0.8 0.036
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including 192.54 193.17 0.63 0.278 0.072 0.120 1.3 0.042
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including 193.17 194.76 1.59 0.183 0.022 0.037 1.1 0.016
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including 194.76 196.26 1.50 0.118 0.015 0.025 0.7 0.019
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including 196.26 197.53 1.27 0.335 0.041 0.068 3.3 0.056
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including 197.53 198.29 0.76 0.258 0.115 0.192 2.3 0.131
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including 198.29 199.96 1.67 0.100 0.002 0.003 1.6 0.050
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including 199.96 200.85 0.89 0.307 0.029 0.048 2.1 0.055
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including 200.85 202.35 1.50 0.141 0.024 0.040 1.0 0.019
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including 202.35 203.90 1.55 0.174 0.040 0.067 1.4 0.020
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including 216.78 218.28 1.50 0.181 0.010 0.017 2.2 0.058
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including 222.48 224.02 1.54 0.198 0.022 0.037 1.6 0.017
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including 224.02 224.26 0.24 0.103 0.032 0.053 1.2 0.053
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including 226.78 228.28 1.50 0.118 0.010 0.017 0.8 0.032
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including 228.85 229.15 0.30 0.159 0.005 0.008 1.1 0.019
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including 231.84 232.45 0.61 0.444 0.051 0.085 3.2 0.061
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including 242.15 242.31 0.16 0.204 0.013 0.022 1.9 0.073
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244.98 245.35 0.37 0.001 0.158 0.264 below 0.1 0.006
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IS-08-36 14.48 14.93 0.45 0.496 0.001 0.002 3.2 0.042
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including 17.63 193.49 175.86 0.079 0.030 0.049 0.694 0.018
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including 17.63 17.88 0.25 0.489 0.003 0.005 1.0 0.063
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including 17.88 18.05 0.17 0.202 0.013 0.022 0.6 0.032
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including 19.34 19.48 0.14 0.822 0.075 0.125 3.5 0.033
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including 23.38 23.98 0.60 0.547 0.113 0.188 3.1 0.084
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including 28.72 28.85 0.13 0.864 2.171 3.621 6.5 0.066
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including 28.85 30.35 1.50 0.221 0.009 0.015 1.1 0.008
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including 32.53 33.80 1.27 0.211 0.096 0.160 2.4 0.022
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including 43.87 44.03 0.16 0.355 0.564 0.941 6.0 0.066
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including 46.83 47.14 0.31 0.215 0.246 0.410 1.6 0.016
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including 49.25 49.60 0.35 0.210 0.028 0.047 1.9 0.025
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including 59.55 60.44 0.89 2.716 2.649 4.419 32.5 0.938
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including 78.85 79.03 0.18 0.202 0.776 1.294 2.0 0.026
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including 88.18 88.53 0.35 0.212 0.340 0.567 1.8 0.025
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including 88.53 89.57 1.04 0.305 0.008 0.013 4.0 0.043
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including 89.57 89.80 0.23 1.586 0.011 0.018 15.5 0.193
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including 121.40 165.31 43.91 0.104 0.014 0.024 0.62 0.014
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including 118.50 119.96 1.46 0.035 0.061 0.102 0.3 0.004
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including 122.39 123.44 1.05 0.202 0.004 0.007 0.6 0.001
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including 127.47 127.93 0.46 0.237 0.031 0.052 1.5 0.042
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including 132.12 132.41 0.29 2.052 0.019 0.032 4.1 0.048
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including 133.17 133.41 0.24 0.322 0.163 0.272 2.4 0.105
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including 134.34 135.66 1.32 0.107 0.012 0.020 0.3 0.010
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including 135.66 136.78 1.12 0.298 0.023 0.038 1.4 0.024
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including 136.78 137.46 0.68 0.123 0.006 0.010 0.5 0.007
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including 137.46 138.98 1.52 0.114 0.007 0.012 0.4 0.004
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including 138.98 140.32 1.34 0.158 0.010 0.017 0.6 0.014
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including 140.32 141.70 1.38 0.160 0.020 0.033 0.7 0.006
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including 143.31 144.92 1.61 0.127 0.153 0.255 0.4 0.002
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including 146.51 148.13 1.62 0.125 0.005 0.008 0.8 0.033
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including 148.13 149.65 1.52 0.125 0.008 0.013 1.0 0.022
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including 151.17 152.67 1.50 0.138 0.010 0.017 1.8 0.041
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including 164.87 165.31 0.44 0.115 0.006 0.010 1.0 0.041
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including 167.56 168.18 0.62 0.131 0.004 0.007 1.0 0.041
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including 186.11 187.42 1.31 0.135 0.004 0.007 1.4 0.028
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(x) The angle between the core axis and veins were all at an inclined
angle and so widths are not true widths
Core in each of the sampled intervals was split, 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. Samples returning in excess of 10,000 ppm copper were re-
submitted for Group 7AR analysis. Samples that returned Mo results
greater than 2,000 ppm were re-submitted for Group 7KP - 0.50 gm
analysis.
1 - Only single sample intervals having copper values greater than 0.3%
were reported for Hole 18 in the table above.
2 - Conversion factor from Mo to MoS(2) is 1.6681.
The additional analytical data for holes 18, 34 and 36 allowed determination of thicker mineralized intervals, as reported above. In addition, the results for Hole 34 are only those for the upper and lower portion of the hole, as many of the results for the interval between 37.78 and 130.14 m remain outstanding.
The intent of the 2008 drill program was to document a mineralized deposit having bulk tonnage potential returning an average grade in excess of 0.2% copper. This represents a 200% increase over the objectives of the 2006 program, which reported composite intervals having an average minimum grade of 0.1% Cu. Furthermore, given the significant increase in the relative proportion of molybdenum identified in each hole, together with multiple high grade intercepts and composite intervals reported, in future management will be including a copper equivalent value and reporting intervals having a grade in excess of 0.2% copper equivalent.
An initial copper equivalency calculation utilizes commodity prices quoted in the September 8 - 14, 2008 issue of The Northern Miner. (Note: commodity prices have fallen considerably since then, however, the same commodity prices have been utilized in the following table so as allow direct comparison of copper equivalency values between holes reported previously and those contained herein). In addition, the copper equivalency calculation assumes 100% recovery for all metals. As a result, the resulting values are presented herein solely for discussion purposes. Further work will be undertaken on the equivalency equation so as to produce more meaningful values in the future.
Preliminary copper equivalency (Cu. EQ.) results are presented in the following table:
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Hole From To Width Cu.EQ.(1)
Number (m) (m) (m) (%)
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IS-08-18 7.00 12.23 5.23 0.346
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24.26 69.31 45.05 1.333
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97.64 108.50 10.86 1.238
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IS-08-34 14.87 37.78 22.91 0.747
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147.64 242.31 94.67 0.339
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IS-08-36 17.63 193.49 175.86 0.549
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1 - The equation used to calculate the copper equivalent is as follows:
Cu. EQ (%) (equal sign) ((Cu(%)x20x$Cu)+((Mo%x20x1.5x$MoO3))+
((Ag x($Ag/34.2857))+(Au x($Au/34.2857))) divided by (20x$Cu) where
$Cu (equal sign) $3.26/lb, $MoO3 (equal sign) $33.75/lb,
Ag (equal sign) $13.18/oz and Au (equal sign) $802.50/oz.
Note: The resulting Cu. EQ. value assumes 100% recovery of all metals.
Furthermore, the values utilized for the metals was taken from the
September 8 -14, 2008 Northern Miner and so does not address expected
trends in metal prices.
Management is very excited by continued high grade (Cu +/- Mo) results from drill holes completed in 2008 to test the coincident IP - soil anomaly. Management is unreservedly encouraged by continued results returned from the 2008 field program, confirming coincident surface soil and IP survey results, together with high grade, sub-surface mineralization. Drilling on the property as part of the 2008 field season has been completed, however, further analytical results will be reported as received.
This news 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.