Jasper Mining Corporation - Further results document 159.40 m grading 0.18% Cu.EQ. from diamond drill program on Isintok property
Mon Apr 20, 6:58 PM
ca.news.finance.yahoo.com
Trading Symbol: JSP (TSX-Venture)
CALGARY, April 20 /CNW/ - Jasper Mining Corporation (the "Company") is pleased to release analytical results from samples for holes IS-08-27, 28, 29, 32, 37 and 46 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 drill holes have been completed by the Company on the property to date, with 38 of those holes completed as part of the Company's highly successful 2008 exploration program. Of the holes released to date, full or partial results have now been released from 24 of these holes. The objective of the 2008 drill program was to evaluate Cu-Mo porphyry style mineralization corresponding with coincident surface soil and Induced Potential (geophysical) anomalies.
The holes from which the results (below) were obtained were drilled from three pads located on the western flank of the coincident anomaly, drilled east at variable azimuths and inclinations. As such, the holes are interpreted to be moderately to highly oblique to mineralization controlled by steeply, generally west dipping structures.
Management wishes to emphasize that although 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 4.985% Mo (8.315% 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.
In particular, determination of a copper equivalency value ("Cu. EQ.") indicates that consistent silver values throughout many of the individual holes reported to date contribute significantly to the overall Cu. EQ. grade for these holes. In management's opinion, the contribution of copper +/- molybdenum +/- silver and, to a lesser degree, gold values over significant thicknesses has resulted in preliminary Cu. EQ. grades of interest over potential bulk tonnage intervals.
Copper equivalency (Cu. EQ.) results determined for Holes 27, 28, 29, 32, 37 and 46 are presented below:
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Hole From To Width Cu. EQ.1
Number (m) (m) (m) (%)
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IS-08-27 94.97 131.73 36.76 0.32
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IS-08-28 78.33 157.02 79.19 0.17
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including 78.33 117.96 40.13 0.23
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IS-08-29 4.50 138.38 133.88 0.21
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including 15.39 98.75 83.36 0.31
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IS-08-32 5.15 92.26 87.11 0.32
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including 12.99 55.78 42.79 0.35
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including 12.99 37.36 24.37 0.52
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IS-08-37 4.57 163.97 159.40 0.18
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IS-08-46 41.61 106.07 64.46 0.45
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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 = $2.20/lb, $MoO3 = $12.00/lb, Ag
= $12.00/oz and Au = $900.00/oz. Note: The
resulting Cu. EQ. value assumes 100% recovery of all metals.
As directed by Jasper management, the Company has used the commodity prices indicated above to calculate a preliminary copper equivalency (Cu EQ.) value. Commodity prices are constantly fluctuating and will be corrected by the Company from time to time. Note: the copper equivalency determined is, essentially, a semi-quantitative number in that it is not based on metallurgical studies and does not address metal recovery and a host of other production considerations.
The following table is a compilation of high grade analytical results for copper +/- molybdenum +/- silver +/- gold for holes 27, 28, 29, 32, 37 and 46. Note: Consistent with recent News Releases, only results for individual intervals greater than 1.00% copper, 1.00% MoS(2) and/or a copper equivalency value greater than 0.2% (for composite intervals) have been tabulated below.
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Hole From To Width Cu(1) Mo MoS(2)(2) Ag Au
Number (m) (m) (m) (%) (%) (%) (g/t) (g/t)
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IS-08-27 3.05 188.85 185.80 0.04 0.01 0.01 0.42 0.01
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including 7.61 133.35 125.74 0.05 0.01 0.02 0.49 0.01
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including 94.97 131.73 36.76 0.13 0.02 0.03 1.13 0.02
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IS-08-28 78.33 157.02 79.19 0.07 0.01 0.02 0.55 0.01
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including 78.33 117.96 40.13 0.10 0.01 0.02 0.78 0.01
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IS-08-29 4.50 138.38 133.88 0.05 0.02 0.03 0.53 0.01
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including 15.39 98.75 83.36 0.06 0.03 0.05 0.74 0.01
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including 239.02 240.33 1.31 0.148 1.167 1.947 2.8 0.053
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IS-08-32 5.15 92.26 87.11 0.08 0.03 0.05 0.75 0.01
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including 12.99 55.78 42.79 0.12 0.03 0.04 1.17 0.02
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including 12.99 37.36 24.37 0.17 0.04 0.06 1.71 0.03
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including 34.07 34.43 0.36 0.637 1.75 2.919 5.9 0.095
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including 35.29 35.72 0.43 1.985 0.443 0.739 15.5 0.422
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including 35.72 35.91 0.19 5.655 0.151 0.252 69.2 1.653
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IS-08-37 4.57 163.97 159.40 0.04 0.02 0.03 0.44 0.01
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IS-08-46 41.61 106.07 64.46 0.24 0.02 0.04 1.25 0.02
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including 42.65 42.83 0.18 1.132 0.071 0.118 6.0 0.072
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including 64.94 65.16 0.22 3.847 0.135 0.225 15.0 0.172
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including 71.30 71.66 0.36 9.127 0.001 0.002 29.1 0.165
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including 72.54 73.51 0.97 5.975 0.194 0.324 5.7 0.022
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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 and/or molybdenum values
greater than 1.0% were reported in the table above.
2 - Conversion factor from Mo to MoS(2) is 1.6681.
Hole 27, 28, 29, 32, 37 and 46 were drilled from three separate pads
located on the western flank of a coincident surface soil and Induced
Potential ("IP") anomaly. The anomaly immediately east of the pads undergoes a
very abrupt change in direction as documented by the IP survey. In general,
the orientation of both segments of the IP anomaly are consistent with linear
breaks evident on the Fugro airborne geophysical survey flown in 2006 and are
interpreted to represent structural breaks. The area tested by the drill holes
reported herein is tentatively interpreted to represent the intersection
between two structural breaks and, therefore, an area of enhanced fluid flow
which may have been available for precipitation of mineralization. Preliminary
evaluation of drill results from holes testing this proposed structural
intersection have returned higher grade mineralization.
Management wishes to emphasize that:
1. All holes drilled to date document near surface mineralization,
immediately below a thin cover of overburden (up to 4 m thick) to
depths up to 395.6 m down-hole or approximately 280 m vertically
below surface;
2. There are abundant sampled intervals containing high grade copper +/-
molybdenum +/- silver +/- gold +/- tungsten in the majority of the
holes completed to date, with hundreds of analytical results
exceeding 0.2% copper and/or 0.03% molybdenum;
3. Highly anomalous gold, silver and/or tungsten values have been
documented over hundreds of intervals, from multiple holes and are
considered worthy of further evaluation, particularly with respect to
silver and, to a lesser degree, tungsten;
4. Many holes drilled to date document intervals having a Cu. EQ. value
in excess of 0.16%, which is the minimum cut-off the Company is
tentatively using to define a potential mineralized volume of
interest, and
5. The mineralized volume defined to date is open to the north and
south, as well as down-dip to the west.
Management is very encouraged by continued high grade (Cu +/- Mo) analytical results from the majority of drill holes completed in 2008 to test the coincident IP - soil anomaly. Furthermore, Management is unreservedly encouraged by continued analytical results returned from the 2008 field program, confirming high grade copper +/- molybdenum +/- silver +/- gold +/- tungsten mineralization spatially coincident with, and underlying, surface soil and IP survey results. The 2008 drill program has been completed and further analytical results will be reported as received.
Rick Walker, consultant for Jasper Mining Corporation, a qualified person as defined by National Instrument 43-101, prepared the technical information in this release.
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 |
