Jasper Mining Corporation - Further high grade results from diamond drill program on Isintok Property
Mon Nov 3, 1:01 PM
ca.news.finance.yahoo.com
CALGARY, Nov. 3 /CNW/ - Jasper Mining Corporation (the "Company") has received analytical results from the bottom of hole 36, together with additional infill sampling for two holes 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.
Hole IS-08-54 was the final hole drilled for the Company's highly successful 2008 exploration program, bringing to 38 the total number of diamond drill holes completed to date as part of the 2008 exploration program, in addition to the initial 16 hole drill program completed during the 2006 field season. The holes continue the Company's evaluation of sub-surface mineralization corresponding to coincident surface soil and Induced Potential anomalies.
Hole 36 was drilled along the west flank of the coincident anomaly, oriented eastward into mineralization controlled by steeply, generally west dipping structures. As a result, it is interpreted to have been drilled at a moderate angle to the controlling structures.
Results for holes 19 and 20 were previously released (see News Release dated September 18, 2008), however, additional sampling has been completed so as to sample the complete mineralized intervals reported herein. Holes 19 and 20 were drilled on the east flank of the coincident anomaly, with the holes directed to the west.
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 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-08-19, 20 and lower part of 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-08-19 48.44 126.70 78.26 0.137 0.034 0.056 1.02 0.033
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including 49.26 49.79 0.53 0.847 0.078 0.131 3.9 0.145
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including 51.79 52.51 0.72 0.384 0.036 0.060 2.9 0.240
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including 58.29 58.59 0.30 0.295 0.166 0.277 3.2 0.081
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including 58.59 58.90 0.31 0.128 0.001 0.002 2.0 0.030
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including 58.90 59.14 0.24 0.980 0.005 0.008 7.7 0.206
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including 60.04 61.34 1.30 0.136 0.003 0.005 2.0 0.044
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including 63.01 107.59 44.58(1) 0.171 0.055 0.092 1.3 0.044
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including 63.01 63.47 0.46 0.429 0.015 0.025 8.2 0.184
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including 65.12 65.47 0.35 0.397 0.071 0.118 5.6 0.110
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including 65.47 66.14 0.67 0.209 0.008 0.013 2.8 0.088
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including 69.19 70.71 1.52 0.727 0.104 0.173 5.8 0.166
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including 70.71 72.23 1.52 0.530 0.051 0.085 7.2 0.219
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including 77.04 77.32 0.28 0.503 0.013 0.022 2.1 0.008
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including 81.38 82.90 1.52 0.255 0.187 0.312 1.0 0.004
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including 90.52 92.04 1.52 0.331 0.004 0.007 1.4 0.012
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including 101.02 101.34 0.32 0.265 3.985 6.647 6.3 0.024
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including 103.90 104.14 0.24 0.868 0.001 0.002 4.1 0.024
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including 107.29 107.59 0.30 0.465 1.306 2.178 6.6 2.684
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IS-08-20 25.78 57.82 31.27 0.069 0.019 0.031 0.90 0.020
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including 27.20 27.54 0.34 0.418 0.001 0.002 4.4 0.055
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including 27.70 28.05 0.35 0.524 0.005 0.008 3.5 0.308
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including 33.37 33.68 0.31 0.877 0.011 0.018 9.8 0.252
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including 37.63 37.72 0.09 0.230 0.000 0.000 4.0 0.026
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including 44.35 45.11 0.76 0.455 0.055 0.092 5.0 0.077
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including 46.11 46.66 0.55 0.161 0.002 0.004 2.2 0.017
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including 46.66 48.16 1.50 0.152 0.343 0.572 2.1 0.034
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52.72 54.25 1.53 0.134 0.000 0.000 0.8 0.006
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57.30 57.82 0.52 0.127 0.002 0.004 0.8 0.015
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93.87 105.46 11.59 0.096 0.034 0.056 0.4 0.010
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including 94.30 94.89 0.59 0.690 0.645 1.076 3.0 0.063
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140.82 141.75 0.93 0.006 0.050 0.083 0.1 0.000
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141.75 142.00 0.25 0.004 0.096 0.160 0.0 0.000
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152.26 152.85 0.59 0.080 0.672 1.121 1.6 0.021
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204.41 210.02 5.61 0.491 0.002 0.004 6.1 0.117
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including 205.12 206.64 1.52 0.636 0.004 0.007 7.3 0.090
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including 206.64 208.14 1.50 0.649 0.002 0.003 8.2 0.271
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including 208.14 209.69 1.55 0.379 0.000 0.000 4.7 0.048
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259.99 261.51 1.52 0.340 0.000 0.000 4.0 0.048
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278.43 278.88 0.45 0.083 0.123 0.205 0.6 0.017
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278.43 281.21 2.78 0.081 0.173 0.289 0.6 0.016
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including 280.33 280.84 0.51 0.189 0.371 0.619 1.0 0.010
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including 280.84 281.21 0.37 0.175 0.603 1.006 1.3 0.067
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IS-08-36(3) 96.99 193.49 96.50 0.065 0.010 0.017 0.47 0.010
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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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* 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 19 in the table above.
2 - Conversion factor from Mo to MOS(2) is 1.6681.
3 - Results for the lower portion of the hole
The additional sampling for holes 19 and 20 allowed determination of thicker mineralized intervals, as reported above. In addition, the results for Hole 36 are only those for the lower portion of the hole, as the results for samples 1 to 85 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 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-08-19 48.44 126.70 78.26 0.680
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IS-08-20 25.78 57.82 32.04 0.369
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93.87 105.46 11.59 0.627
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204.41 210.02 5.61 0.606
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278.43 281.21 2.78 2.783
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IS-08-36 96.99 193.49 96.50 0.229
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including 121.40 165.31 43.91 0.333
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1 - The equation used to calculate the copper equivalent is as follows:
Cu. EQ (%) = ((Cu(%)*20* $Cu)+((Mo%*20*1.5*$MoO3))+
((Ag*($Ag/34.2857))+(Au*($Au/34.2857)))(divided by)(20*$Cu)
where $Cu = $3.26/lb, $MoO3 = $33.75/lb, Ag (equal
sign) $13.18/oz and Au = $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.
The final holes of the 2008 program were intended as a preliminary test of the northwestern IP anomaly, having approximate dimensions 300 m north-south by 200 m east-west. The northwestern IP anomaly is separated (in map view) by an area approximately 120 m wide characterized by a low grade IP from the southern IP anomaly, which has been the focus of the 2008 drill program to date. The southern IP anomaly has a 50 m wide tail, extending approximately 400 m north-south, at which point it flairs outward to the east-northeast for approximately 150 m, resulting in an overall appearance like an inverted "L".
Hole 52, collared midway between the two IP anomalies expressed at surface, documented a near surface dyke swarm that apparently cut out near surface mineralization. At greater depth, the hole documented mineralization visually similar to that documented to the southeast. Holes 53 and 54 represent the first holes drilled by the Company in the northwestern anomaly and both documented similar mineralization (on a visual basis) to that documented in the southern IP anomaly. Qualitatively, there appears to be a lower proportion of bornite, with similar proportions of chalcopyrite and molybdenite, in these first two holes testing the northwestern anomaly.
Hole 52 is considered to be a very important hole in that, by intersecting similar mineralization, it is interpreted to suggest sub-surface continuity in mineralization between the two IP anomalies and, therefore, significantly increase the potential size. On the basis of this interpretation, the area potentially underlain by higher grade copper + molybdenum + silver + gold +/- tungsten mineralization, as documented to date and, in particular by the 2008 results, is approximately 1.06 km north-south by up to 350 m east-west.
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.
Contacts
Gordon F. Dixon
Q.C.
President
Jasper Mining Corporation
Telephone (403) 297-9480
Fax (403) 266-1487
email: xon@telus.net
Investor relations inquiries may be directed to Robert Rowell
Telephone (403) 668-4880
email: ir@beaumontcapital.ca |
