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JASPER MINING CORPORATION April 14, 2008 NEWS RELEASE JASPER MINING CORPORATION - FURTHER RESULTS FOR HOLE 26 DOCUMENT 271.25 M GRADING 0.27% CU.EQ. FROM DIAMOND DRILL PROGRAM ON ISINTOK PROPERTY 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 2008 holes, full or partial results have now been released from only 18 of these holes to date. The objective of the 2008 drill program was to evaluate sub-surface, porphyry style mineralization corresponding with coincident surface soil and Induced Potential (geophysical) anomalies. Hole 26 was drilled from the eastern flank of the coincident anomaly, drilled to the west at an azimuth of 263 degrees at an inclination of -65 degrees. As such, the hole is interpreted sub-parallel to mineralization controlled by steeply, generally west dipping structures. Therefore, the hole is interpreted to have been drilled at a relatively shallow angle to the controlling 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% MoS2) over 0.32 m and composite intervals grading 0.055% Mo (0.092% MoS2) 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 hole 26, in its entirety . Note: Consistent with recent News Releases, only results for individual intervals greater than 1.00% copper, 1.00% MoS2 and/or a copper equivalency value greater than 0.2% (for composite intervals) have been tabulated below. |
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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 MoS2 is 1.6681. Preliminary copper equivalency (Cu. EQ.) results for Hole 26 is presented below: |
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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))) ÷ (20*$Cu) where $Cu = $1.70/lb, $MoO3 = $12.00/lb, Ag = $10.00/oz and Au = $808.00/oz. Note: The resulting Cu. EQ. value assumes 100% recovery of all metals. As announced in a previous News Release (dated Dec. 12, 2008) the Company has revised the metal prices used in the above Cu. EQ. calculation to reflect prices at that time. Note: the resulting copper equivalency is, essentially, a qualitative number in that it is not based on metallurgical studies and does not address metal recovery and a host of other considerations. Hole 26 was drilled on the northeastern flank of the coincident surface soil and IP anomaly. The anomaly has been tested by a total of 54 diamond drill holes to date. Management wishes to emphasize: 1. that the holes document mineralization from 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, and 2. There are many high grade copper +/- molybdenum +/- silver +/- gold sample intervals in many 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 over multiple holes and are considered worthy of further evaluation, particularly with respect to silver and, to a lesser degree, tungsten. Management is very encouraged by continued high grade (Cu +/- Mo) results from the majority of drill results released to date from those 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 high grade, copper +/- molybdenum +/- silver +/- gold +/- tungsten subsurface mineralization spatially coincident with, and underlying, surface soil and IP survey results. The 2008 drill program has been completed, however, 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. For further information contact: - 30 - The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |