Trading Symbol: JSP (TSX-Venture)
CALGARY, Oct. 15 /CNW/ - Jasper Mining Corporation (the "Company") has received further analytical results 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.
Hole IS-08-51 is currently being drilled to continue the Company's exploration program to evaluate sub-surface mineralization corresponding to coincident surface soil and Induced Potential anomalies. Holes 23 and 24 were drilled on the east flank of the coincident anomaly, into mineralization interpreted to be controlled by steeply west dipping structures. As a result, the holes are interpreted to have been drilled at a shallow angle to the controlling structures which has the result of diluting vein density while exaggerating the thickness of any mineralized interval.
Hole IS-08-34 was drilled from the west side of the coincident soil/IP anomaly and was oriented to the east. As a result, it is the first hole drilled of the 2008 program to be drilled at a high angle to structures interpreted to control mineralization. Furthermore, 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 .
Management also wishes to emphasize 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 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 (0.442% over 0.86 m) have also been documented.
The following table is a compilation of high grade analytical results for copper +/- molybdenum +/- silver +/- gold for holes IS-08-23, 24 and 34.
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Hole From To Width Cu Mo MoS(2)(1) Ag Au
Number (m) (m) (m) (%) (%) (%) (g/t) (g/t)
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IS-08-23 25.32 31.41 6.09 0.346 0.030 0.050 6.55 0.091
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including 28.23 29.16 0.93 1.612 0.190 0.317 29.8 0.411
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including 29.16 29.87 0.71 0.141 0.004 0.007 3.7 0.073
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including 29.87 31.41 1.54 0.230 0.002 0.003 2.9 0.051
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47.79 48.16 0.38 0.449 0.000 0.000 4.3 0.047
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70.73 80.19 9.46 0.155 0.002 0.003 0.71 0.023
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including 70.73 71.75 1.02 0.107 0.002 0.003 0.4 0.006
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including 71.75 72.64 0.89 1.180 0.002 0.003 5.8 0.224
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including 74.05 74.52 0.47 0.138 0.000 0.000 0.5 0.005
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115.82 116.69 0.87 0.257 0.047 0.078 0.8 0.012
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116.69 118.26 1.57 0.259 0.017 0.028 1.2 0.012
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IS-08-24 52.73 54.25 1.52 0.067 0.134 0.223 0.4 0.008
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94.88 95.47 0.59 0.281 0.042 0.070 4.3 0.131
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95.47 96.92 1.45 0.138 0.081 0.135 2.0 0.056
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106.07 106.34 0.27 0.104 0.020 0.033 1.7 0.053
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199.94 208.19 8.25 0.103 0.002 0.003 0.91 0.023
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including 199.94 200.55 0.61 0.559 0.005 0.008 4.6 0.183
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including 205.05 205.54 0.49 0.122 0.002 0.003 0.9 0.008
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including 206.64 208.19 1.55 0.127 0.004 0.007 1.4 0.018
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IS-08-34 147.64 242.31 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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(less
than)
244.98 245.35 0.37 0.001 0.158 0.264 0.1 0.006
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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. 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 - Conversion factor from Mo to MoS(2) is 1.6681.
To date, core sampling has emphasized both visually high grade intervals and thicker mineralized zones within holes evaluated to date. Further sampling will be undertaken on each hole reported so as to complete sampling over the entire length of each hole recovered. As such, relatively short, high grade intercepts documented to date will be incorporated into thicker composite intervals, with both a reduction in overall grade and a corresponding increase in mineralized thickness.
An initial copper equivalency calculation utilizes current prices and assumes 100% recovery for all metals. As a result, the resulting copper equivalency values are presented herein solely for initial discussion purposes. Further work will be undertaken on the copper equivalency equation so as to produce more meaningful values in future releases.
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-08-34 147.64 242.31 94.67 0.339
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1 - The equation used to calculate the copper equivalent is as follows:
Cu. EQ (%) (equal sign) ((Cu(%)(x)20(x) $Cu)+((Mo%(x)20(x)1.5(x)$MoO3))+((Ag(x)($Ag/34.2857))+(Au(x)($Au/34.2857)))/(20(x)$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 utlized for the metals was taken from the September 8 - 14 Northern Miner and so does not address expected trends in metal prices.
Management continues to be very excited by high grade results from the Isintok property. Management is very encouraged by additonal results as they continue to confirm sub-surface mineralization, at higher grades, documented by previous drill programs.
Management is unreservedly encouraged by results returned from the 2008 program, confirming coincident surface soil and IP survey results, together with high grade, sub-surface mineralization. Drilling continues on the property and additional 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.