Isintok, British Columbia
Copper, Molybdenum, Gold Silver
The Isintok property consists of 3,007 ha (7,432 acres), located approximately 25 km west of the Okanagan Valley and the community of Summerland. It is also approximately 20 km north of the Nickel Plate Mine at Hedley and 40 km south of the former Brenda Mine at Peachland. Previous work by Anaconda Canada Exploration Ltd and Canex Aerial Exploration Ltd. resulted in identification of possible reserves of 22,994,985 tonnes grading 0.067 % MoS2 (0.040 % Molybdenum) and 0.161 % Copper. (Note: reported prior to implementation of, and therefore not compliant with, National Instrument 43-101). Of particular significance to the Company’s evaluation of the property is that “... reserves are based on 14 widely-spaced diamond and percussion-drill holes drilled by Anaconda Canada Exploration Ltd. in 1981. The 14 holes average about 90 metres in depth with many of the holes stopped in ore grade material. The area encompassed measures about 1000 by 300 metres with a vertical mineralized interval of 27 metres” (MINFILE 092HNE100). The documented fact that many of the holes stopped in material considered to be “ore grade”, at that time, suggests strong potential to increase the size and possible grade of the reported resource.
Based upon results of the 2005 Fugro Airborne Surveys (“Fugro”) geophysical survey of the Isintok property, additional surrounding claims, comprised of 9 tenures totalling 1,237 ha, were acquired from a prospector in the spring. The claims are believed to provide sufficient additional surface area in which to evaluate the numerous airborne geophysical anomalies identified from the Fugro survey.
As part of the 2006 exploration program, the additional tenures acquired were flown by Fugro. The resulting 2006 airborne data are consistent with the 2005 data, in that anomalies previously identified along the margins were confirmed by the 2006 survey, either extending their length and/or providing closure to anomalies at the margins of the 2005 survey. As a result, the Company now has complete airborne geophysical coverage of the entire Isintok property, with numerous anomalies identified for further evaluation. In particular, a prominent resistivity linear, trending northeast-southwest, extends throughout the centre of the property. It has been tested by a single drill hole (ISIN-05-01) which documented low grade copper mineralization in a vertical hole.
In addition, a total of 16 diamond drill holes were completed in two phases during the 2006 field program, holes 1 through 10 during the summer and 11 through 16 in the fall. The holes were intended to continue the Company’s evaluation of sub-surface mineralization in an area identified by previous drill programs in 1982 and 1996-1997.
Holes 15 and 16 were collared approximately 50 m south and north, respectively, of percussion hole PD-11, which documented 42.7 m of 0.28% copper and 315 ppm molybdenum. PD-11 is tentatively interpreted to have been drilled down, and within, a mineralized vein system and, therefore, to have been mineralized along virtually the entire length of the hole. Holes 15 and 16 were intended to document the same mineralized system passing, however, from the west side to the east and thereby allowing a determination of its thickness and orientation.
Hole 14 was drilled in an attempt to define one or more mineralized systems identified in, and farther to the north of, previous drilling. The hole did, indeed, intersect three visually identified, separate and distinct mineralized intervals, associated with stronger alteration.
Given the occurrence of multiple short intervals of semi-massive to massive chalcopyrite in holes 15 and 16, together with three intervals of mineralization in Hole 14, management believes the results of these three holes to be material. The strength of the mineralization is visually better than that noted (or described) in any previous hole completed by the Company and may be comparable only to previously drilled hole PD-11. In addition, the greater extent of alteration associated with mineralization is tentatively interpreted to indicate a location relatively closer to an, as yet unidentified, mineralized source.
Coincident with drilling, the Company completed soil sampling and an IP survey. The results of soil sampling are very encouraging. In particular, the Company’s Grid B returned a high proportion of anomalous results for elements of interest, including copper (Cu), molybdenum (Mo), silver (Ag), tungsten (W) and gold (Au). Virtually the entirety of Grid B (consisting of 15 separate lines between 1.0 and 1.3 km in length, oriented east-west, totalling approximately 16.5 line kilometres) returned anomalous values for these metals, with a relatively high grade core oriented north-south. This core is a minimum of 1.3 km north-south by 400 m east-west and remains open to the south.
Management believes these soil results are very encouraging as they are supported by sub-surface mineralization as documented by drill results, from previous programs as well as those completed by the Company. Furthermore, preliminary interpretation of drill results appears to support a generally north-south trend to the mineralization, as documented by the soils. Finally, drilling to date has utilized the existing road network, with all holes drilled on, or west of, a north-south access road to the drill area. The high grade soil anomaly is located east of the road to the south and crosses the road at a shallow oblique angle to the north, passing across the road to the west side. As a result, the mineralized intercepts documented to date may represent lower grade mineralization on the west side of the mineralized zone, as defined by soil results.
A relatively small IP survey was also completed on Grid B, utilizing the existing soil lines and totalling 16.5 line km. The results of the IP survey independently delineated a prominent anomaly spatially coincident with the surface soil anomaly and sub-surface mineralization. The combination of surface soil, surface IP and sub-surface diamond drill hole data is interpreted to support the presence of a mineralized system in the near sub-surface and that drilling to date may have collared above the anomaly, tested the near surface mineralization and subsequently drilled away from the system.
Management is unreservedly encouraged by the results of the 2006 field program and, in particular, results of surface soil, IP and analytical results from holes 14 through 16. Further work will be completed on the property during the 2007 field season and will include expansion of the existing grids to the south west and northwest as well as additional diamond drilling.
Jasper Mining Corporation, trading symbol: JSP
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