| To view this news release in PDF form please Click Here
All News Releases and Filing News Releases November 19, 2008: November 13, 2008: November 4, 2008: November 3, 2008: October 28, 2008: October 27, 2008: October 20, 2008: October 15, 2008: September 29, 2008: September 29, 2008: September 25, 2008: September 4, 2008: September 2, 2008: August 28, 2008: August 21, 2008: July 23, 2008: July 11, 2008: July 8, 2008: July 2, 2008: June 24, 2008: June 20, 2008: May 29, 2008: May 26, 2008: May 6, 2008: May 2, 2008: April 11, 2008: April 8, 2008: April 4, 2008: April 2, 2008: March 12, 2008: March 7, 2008: March 4, 2008: Febuary 25, 2008: January 21, 2008: December 19, 2007: December 11, 2007: December 6, 2007: November 19, 2007: November 5, 2007: October 26, 2007: October 25, 2007: October 5, 2007: September 19, 2007: August 9, 2007: July 12, 2007: July 4, 2007: June 28, 2007: May 28, 2007: May 15, 2007: April 27, 2007: April 9, 2007: March 27, 2007: March 9, 2007: February 16, 2007: February 9, 2007: January 23, 2007: December 21, 2006: December 14, 2006: December 12, 2006: December 11, 2006: November 29, 2006: November 10, 2006: November 1, 2006: October 25, 2006: October 18, 2006: October 17, 2006: September 29, 2006: September 28, 2006: September 26, 2006: September 6, 2006: September 5, 2006: September 5, 2006: August 29, 2006: August 28, 2006: August 11, 2006: August 10, 2006: August 3, 2006: August 1, 2006: June 26, 2006: |
|
JASPER MINING CORPORATION December 9, 2008 NEWS RELEASE JASPER MINING CORPORATION - SIGNIFICANT HIGH GRADE RESULTS FROM DIAMOND DRILL PROGRAM ON ISINTOK PROPERTY A total of 54 drill holes have been completed 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 been released from only 10 of these holes to date. Therefore, results for a further 28 drill holes have yet to be received. The 2008 holes were completed to evaluate subsurface, porphyry style mineralization corresponding to coincident surface soil and Induced Potential (geophysical) anomalies. Hole IS-08-26 (see News Release dated Sept. 28, 2008) was drilled from the east side of the coincident soil / IP anomaly and drilled toward the west into mineralization controlled by steeply, generally west dipping structures. Hole 26 represents the northernmost hole drilled on the east side of the anomaly and drilled along the northern edge of the anomaly as defined by the IP response. The hole is interpreted to have been drilled sub-parallel to the controlling structures which may dilute vein density. Hole 39 was drilled from the west flank of the coincident anomaly, from a pad approximately 50 metres south of Hole 34 (see News Release dated Oct. 15, 2008) and, again, was oriented eastward into 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% 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 holes 26 and 39. Note: In contrast to previous News Releases, only results for individual intervals greater than 1.00% copper and/or 1.00% MoS2 have been tabulated below. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
*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. Furthermore, in reviewing results for hole 26, a significant thickness of anomalous tungsten (“W”) was noted. To date, anomalous tungsten has been noted and reported in several holes from both the 2006 and 2008 programs. Hole 26 had numerous intervals that returned anomalous tungsten values in excess of 100 ppm. A composite interval of weighted average values for anomalous tungsten is presented below. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
The presence of a considerable thickness of anomalous tungsten suggests the possibility of a metal zonation associated with the host intrusion. Tungsten and molybdenum results reported in 2006 were spotty. Molybdenum reported in 2008 has been much more consistently anomalous in the holes reported to date, while tungsten has, for the most part, continued to be spotty. Hole 26 represents an apparent change in the tenure of tungsten mineralization, spatially associated with the northern edge of the IP anomaly, as defined. The intent of the 2008 drill program was to document a mineralized deposit having large 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 commodity prices quoted in the September 8 - 14, 2008 issue of The Northern Miner. (Note: commodity prices have fallen considerably since then, however, the same commodity prices have been utilized in the following table so as allow direct comparison of copper equivalency values between holes reported previously and those contained herein). In addition, the copper equivalency calculation assumes 100% recovery for all metals. As a result, the resulting values are presented herein solely for discussion purposes. Further work will be undertaken on the equivalency equation so as to produce more meaningful values in the future. Preliminary copper equivalency (Cu. EQ.) results for Holes 26 and 39 are presented below: |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 = $3.26/lb, $MoO3 = $33.75/lb, Ag = $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. 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. Based upon the drilling to date, management’s opinion is that the mineralized deposit at Isintok is longer than 2000 meters, wider than 500 meters and deeper than 300 meters. Further the mineralization remains open in all directions and at depth. Drilling confirms that soils and IP coincident anomalies contain massive tonnage. Jasper plans a compliant resource calculation in the next few months. This news release has been prepared by Richard T. Walker, B.Sc., M.Sc., P. Geo., the “Qualified Person” under National Instrument 43-101. 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. |