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JASPER MINING CORPORATION October 20, 2008 NEWS RELEASE JASPER MINING CORPORATION ANNOUNCES FURTHER HIGH GRADE MOLYBDENUM RESULTS FROM MCFARLANE PROPERTY McFarlane |
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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 the sampled intervals was split, with one half submitted for analysis and one half retained for subsequent analysis. Core was submitted to Acme Analytical Laboratory Ltd in Vancouver, BC for Group 1DX analysis. Samples that returned Mo results greater than 2,000 ppm were re-submitted for re-analysis. Group 7KP - 0.50 gm analysis was utilized for more quantitative determination of high grade Mo results. 1 - Conversion factor from Mo to MoS2 is 1.6681. Holes 21, 22, 23, 25, 47 and 53 were drilled in the central core of the property and included a number of short holes intended to test the surface trace of the vein (and/or vein system) projected between the Ben Derby and eastern adits. Holes 18 to 26 were drilled from a single pad as a series of fans, both plan and section. Hole 21 was drilled at an inclination of -45 toward azimuth 340, Hole 22 at an inclination of -60 toward azimuth 335, Hole 23 at an inclination of -45 toward azimuth 315 and Hole 25 at an inclination of -45 at an azimuth of 360. The pad for these holes was located approximately 100 m west - southwest of the eastern adit and approximately 380 m east of the Ben Derby adit. Hole 47 was located approximately 160 m north - northeast of the pad for holes 18 to 26 and drilled at an inclination of -45 toward azimuth 130. Hole 53, located approximately 120 m east of holes 18 to 26 and 160 m south of Hole 47, was drilled at an inclination of -45 toward azimuth 340. Drill core recovered from the program continues to be evaluated and sampled, with samples submitted for analysis to Acme Laboratories Ltd in Vancouver, BC. Quantitative analytical results will continue to be released as received and evaluated by the Company. Jasper management is encouraged with the McFarlane drilling results and expects to have sufficient information to undertake an independent resource evaluation for the property in early 2009. The property is adjacent to and is contiguous with the Company’s Lydy property. Together the Lydy and McFarlane properties comprise a composite property of 4,259 ha (10,524 acres), encompassing an area 11 km east-west by 4 km north-south. Both the Lydy and McFarlane properties are 100% owned by Jasper with potential for molybdenum plus copper plus/minus gold mineralization. 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. |