JBA-v...in the news:
Cons Jaba acquires Redrock project; grants options
Thu 12 Sept 2002
Mr. Paul Matysek reports
JABA ACQUIRES THE REDROCK CANYON PROJECT, A CARLIN STYLE DI ...
Consolidated Jaba has acquired 100-per-cent interest in the Redrock Canyon
gold project in Cochise county, Arizona. The project consists of 1.5 square
miles of Arizona state prospecting permits/leases.
The project targets disseminated Carlin-style gold of potentially
significant grade in the lower Paleozoic sedimentary formations that have
hosted disseminated hydrothermal mineralization in various large mines
throughout southeastern Arizona. Redrock Canyon has been the subject of
previous exploration activity by junior exploration companies which have
defined strong geochemical anomalies for gold and other indicator metals.
Also, previous technical work by Jaba under joint ventures with Phelps
Dodge Copper Corporation and North Mining Company have defined a large gold
zone surrounding what appears to be a porphyry copper centre defined by
geophysics, geochemistry and interpretive geology. A recent master geology
thesis supported by Jaba has refocused attention on the area. Gold values
in feeder veins show up to 1.6 ounces per ton in at least three samples.
Widespread lower but still significant values in the parts per million
range gold in silicified areas, jasperoid bodies, decalcified limestone and
fresh appearing limestone suggest potential for large bodies of
disseminated gold, perhaps of significant grades at depth, in favourable
porous horizons. Induced polarization (IP) surveys run by Phelps Dodge in
1990 have been re-examined and suggest responsive targets corresponding to
surface geology and gold anomalies at a depth of 300 to 700 feet. New
computer software can now more closely define these anomalies. In an area
not tested by IP surveys, disseminated gold in the 0.1 ounce per ton range
is indicated by vertical air rotary holes to 100 feet. Favourable porous
sediments underlie this area, which has plus one ounce gold feeders at the
surface, by an estimated 200 feet.
Jaba, subject to a technical report, proposes to further refine the
existing targets and to test the area with a series of diamond drill holes.
To that end, Jaba has retained registered professional geologist and
qualified person Jonathan DuHamel to review the data and prepare a
technical report with specific recommendations for a phased exploration
program for the project area. He will work with Zonge Engineering, the
geophysicists who provided the IP surveys for Phelps Dodge in 1990, and
with Shea Clark Smith of MEG Inc., to define respectively a geophysical and
geochemical program. Mr. Duldamel is retired from the Phelps Dodge company
where he performed successful exploration programs over a period of 27
years. He conceptualized and performed geologic mapping and sampling that
identified some of the strong gold anomalies at Redrock Canyon before his
retirement."
Further, Jaba has granted incentive stock options to a consultant in the
amount of 200,000 shares at a price of 10 cents for a period of five years.
The options are subject to acceptance by the TSX Venture Exchange. |
