J-Pacific Reports Drill Results from Montgolfier Project



    VANCOUVER, Oct. 7 /CNW Telbec/ - J-Pacific Gold Inc. ("J-Pacific";
TSXV - JPN) today reported final assay results from the 10,000-metre core
drilling program at its Montgolfier Project. Located in the Casa Berardi
greenstone belt of northwestern Quebec, the Montgolfier Project is 85
kilometres west of Matagami and 40 kilometres east of the Casa Berardi Mine.

    PROGRAM SUMMARY

    The 2008 program was designed to test the lateral and depth extension of
gold mineralization explored in 2007 (see updated technical report filed on
SEDAR). The program focused on three main target areas spanning 16 kilometres
of strike length along the Casa Berardi Fault ("CFB"). Maps detailing the
drill holes are available for download on the J-Pacific website.
    Complete assay results have been received for the 16 holes (totalling
9,225 metres) drilled during the 2008 program, which followed up on
encouraging results from the 2007 drill program (see updated technical report
filed on SEDAR). Salient assay results are shown in Table 1, important
highlights of which include the following core length intervals:

    
      Hole JPN08-28 intersects 1.88g Au/t over 3.0 metres
      Hole JPN08-29 intersects 3.91g Au/t over 1.0 metre
      Hole JPN08-33 intersects 4.40g Au/t over 1.0 metre
      Hole JPN08-39 intersects 0.86g Au/t over 8.0 metres
    

    Five diamond drill holes were drilled in the western part of the property
to pursue positive results from Hole JPN07-04, that intersected a 7.1-metre
section grading an average of 2.85g Au/t in a broad zone of
quartz-muscovite-pyrite-altered metasedimentary rocks. The 2008 boreholes
tested the strike and down-dip extensions of this promising alteration and
mineralization envelope on a 100- to 150-metre step-out pattern. Holes
JPN08-27 and JPN08-29 were drilled approximately 100 metres west and east,
respectively, of Hole JPN07-04. JPN08-27 intersected the target horizon
between 240 and 322 metres down the hole but did not intersect notable gold
mineralization. JPN08-29 intersected the same thick metasedimentary rock
package, including four distinctively muscovite-altered sections carrying up
to five percent pyrite. Assay results yielded between 0.4 and 3.9g Au/t over
core length intervals up to 5.0 metres.
    Holes JPN08-28, JPN08-30 and JPN08-32 were drilled approximately
200 metres behind the above-mentioned holes and targeted the main
quartz-muscovite-pyrite alteration zone, approximately 150 metres below the
previous holes as well as along strike. The holes intersected the targeted
alteration zone, with the best assay results yielding 1.88g Au/t over 3.0
metres in Hole JPN08-28. A second alteration zone was intersected in all three
boreholes to the south of the main quartz-muscovite-pyrite target. Hole
JPN08-34 was drilled approximately 150 metres behind JPN08-28, to test the
depth continuity of this new zone; the hole intersected 4.4g Au/t over 1.0
metre. There is insufficient information to determine if the reported core
length intervals represent true widths.
    By the end of this year's drilling program a total of eight holes had
been drilled in this prospective area, intersecting a large, variably
mineralized quartz muscovite pyrite alteration zone over a strike length of
200 metres to a depth of 150 metres. This zone is open along strike and at
depth and remains an attractive exploration target.
    Hole JPN08-31 was drilled in the easternmost portion of the property, to
follow up on quartz-tourmaline-arsenopyrite mineralization and alteration
intersected in JPN07-01. The borehole was drilled from the north to
investigate the interpreted northern limit of the Taibi Basin and the CBF. The
hole intersected largely unaltered and unmineralized basalt to a depth of
140 metres before progressing into a largely metasedimentary package. The CBF
was encountered at a depth of approximately 210 metres. While JPN08-31
intersected a 12.8-metre core length interval grading 0.6g Au/t in an intense
silica alteration zone adjacent to a graphitic fault, it did not intersect the
targeted quartz-tourmaline-arsenopyrite veining.
    The remaining nine holes of the 2008 program were drilled along a
1.5 kilometre section of the CBF in the eastern part of the property, and in
the general area where Holes JPN07-16 and JPN07-21, drilled in 2007, returned
10.42g Au/t and 6.44g Au/t over core length intervals of 1.0 and 3.2 metres,
respectively.
    In this area, the CBF dips slightly to the north and is believed to
transect the northern limit of the Taibi Basin; therefore, all 2008 boreholes
were drilled from the north to investigate the northern limit of the
sedimentary basin. A thick package of mafic metavolcanic rocks was intersected
north of the CBF, with predominantly metasedimentary rock farther down the
holes, confirming that the CBF broadly marks the northern limit of the Taibi
Basin.
    All boreholes intersected altered metasedimentary rocks variably
impregnated with pyrite and minor quartz-pyrite veining in close proximity to
the CBF. These alteration zones are anomalous in gold, except Hole JPN08-40A,
which encountered no significant gold mineralization. Holes JPN08-36 and
JPN08-37A yielded the most promising results, respectively 0.92g Au/t over
6.3 metres, including 1.2g Au/t over 4.6 metres; and a broad 19.0-metre core
length interval averaging 0.35g Au/t, including 0.6g Au/t over 7.9 metres. The
gold mineralization is associated with silica-carbonate alteration with minor
pyrite in close proximity to the CBF. Other anomalous core lengths intervals
are shown in Table 1.
    The results from the 2008 drilling program are being compiled and
integrated with the project database. In the western portion of the project,
drilling on three sections spaced 100 metres apart outlined two corridors of
strong quartz-muscovite-pyrite alteration developed south of the CBF and
discontinuously auriferous. Although the 2008 drilling did not successfully
replicate the encouraging assay results obtained in 2007, both corridors that
remain open along strike and at depth suggest the presence of a significant
gold-related alteration system.
    In the eastern portion of the project, the 2008 drilling suggests that
the CBF does mark the northern boundary of the Taibi Basin with mafic volcanic
rocks. This contact is characterized by strong silica, carbonate and pyrite
alteration and graphitic faults. Drilling over a 1,400-metre strike length
suggests that the mafic volcanic rocks are mostly unaltered and barren of gold
mineralization. All hydrothermal alteration and gold mineralization are
restricted to the immediate vicinity of the CBF and the metasedimentary rocks
to the south. The data collected from this drill program confirms the
conceptual geological model in this area of the project, and will be used to
develop new exploration targets.

    http://files.newswire.ca/357/Montgolfier_.doc

    
    Table 1: Salient Assay Results from 2008 Drill Program

    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Hole ID    UTM_E     UTM_N   Azi- Plun- Len-  From   To   Len- Gra-  Ver-
                                muth    ge  gth    (me- (me-  gth   de tical
                                (deg- (deg- (me-   tre) tre)   (*)  (g depth
                                 ree)  ree) tre)              (me-  Au/  (me-
                                                              tre)  t)   tre)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    JPN08-27  658,000  5,496,750  350 -50 323.0  177.0  181.0  4.0  0.21  137
    -------------------------------------------------------------------------
    JPN08-28  658,100  5,496,625  350 -50 558.0   80.0   81.0  1.0  0.44   62
    and                                          193.0  195.0  2.0  0.37  149
    and                                          386.0  389.0  3.0  1.88  297
    -------------------------------------------------------------------------
    JPN08-29  658,180  5,496,850  350 -62 351.0   98.0  101.0  3.0  1.01   88
    and                                          107.0  108.0  1.0  3.91   95
    and                                          208.0  213.0  5.0  0.40  186
    -------------------------------------------------------------------------
    JPN08-30  658,000  5,496,600  350 -50 558.0   59.6   60.6  1.0  0.62   46
    and                                          197.0  200.8  3.8  0.80  152
    and                                          423.1  423.7  0.5  1.00  324
    JPN08-31  655,800  5,496,850  180 -50 534.0  273.0  274.5  1.5  0.56  210
    and                                          316.2  329.0 12.8  0.60  247
                                           incl. 0.86g Au/t over 5.2 m
    JPN08-32  658,195  5,496,640  350 -50 547.0  458.0  463.8  5.8  0.41  353
                                           incl. 1.9g Au/t over 0.66 m
    -------------------------------------------------------------------------
    JPN08-33  672,500  5,499,925  180 -50 634.0  574.5  575.4  0.9  3.05  440
    and                                          619.3  620.0  0.7  1.90  475
    -------------------------------------------------------------------------
    JPN08-34  658,125  5,496,475  350 -50 801.0  664.0  665.0  1.0  0.55  509
    and                                          672.0  673.0  1.0  4.40  515
    -------------------------------------------------------------------------
    JPN08-35  672,700  5,499,825  180 -50 630.0  429.0  433.0  4.0  0.56  330
    and                                          438.0  440.0  2.0  0.80  336
    and                                          554.5  558.5  4.0  0.85  426
                                           incl. 2.66g Au/t over 1.0 m
    -------------------------------------------------------------------------
    JPN08-36  672,400  5,499,825  180 -50 633.0  439.8  446.0  6.3  0.92  339
                                           incl. 1.2g Au/t over 4.6 m
    and                                          504.1  506.9  2.8  0.52  387
                                           incl. 1.5g Au/t over 0.5 m
    -------------------------------------------------------------------------
    JPN08-37A 673,400  5,499,870  180 -50 699.0  339.0  342.0  3.0  0.58  261
    and                                          465.3  467.5  2.2  0.98  357
    and                                          478.0  497.0 19.0  0.35  373
                                           incl. 0.6g Au/t over 7.9 m
    and                                          509.3  509.6  0.3  1.74  390
    and                                          606.4  612.0  5.6  0.52  467
                                           incl. 1.16g Au/t over 1.0 m
    and                                          639.0  641.0  2.0  0.49  490
    -------------------------------------------------------------------------
    JPN08-38  672,100  5,499,800  180 -50 559.0  398.0  399.0  1.0  0.47  305
    and                                          461.0  463.4  2.4  0.79  354
    and                                          471.0  476.0  5.0  0.55  363
    -------------------------------------------------------------------------
    JPN08-39  673,300  5,499,750  180 -55 597.0  254.0  255.0  1.0  1.85  208
    and                                          399.0  401.0  2.0  0.81  328
    and                                          418.0  426.0  8.0  0.86  346
                                           incl. 1.4g Au/t over 3.0 m
    and                                          517.0  519.0  2.0  0.44  424
    -------------------------------------------------------------------------
    JPN08-40  672,600  5,499,800  180 -50 207.0    NSV
    -------------------------------------------------------------------------
    JPN08-40A 672,600  5,499,800  180 -51 463.3    NSV
    -------------------------------------------------------------------------
    JPN08-41  673,000  5,499,825  180 -50 570.0  454.8  455.7  1.0  0.79  354
    and                                          477.0  478.3  1.3  0.99  371
    and                                          496.0  505.0  9.0  0.25  389
    and                                          511.0  514.0  3.0  0.40  398
    -------------------------------------------------------------------------
    JPN08-42  673,500  5,499,750  180 -55 561.0  398.0  399.0  1.0  0.49  326
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    (*) Core length intervals. There is insufficient information to determine
        if the reported core length intervals represent true widths. However,
        assuming the intervals are sub-vertical true widths are estimate at
        between sixty and seventy-five percent of reported intervals.
    

    BACKGROUND

    The Montgolfier Project straddles the Casa Berardi Tectonic Zone,
approximately 40 kilometres east of the Casa Berardi Mine, where Aurizon
Mines Ltd. has outlined proven and probable mineral reserves of 3.087 million
tonnes grading 9.3g Au/t (918,000 oz Au); a measured and indicated mineral
resource of 3.613 million tonnes holding 662,000 oz Au; and an inferred
mineral resource of 5,484 million tonnes holding 1,214,000 oz Au (Source:
Aurizon Mines Ltd. website).
    The presence of gold reserves and resources at the Casa Berardi Mine does
not necessarily indicate that gold reserves and resources will be delineated
on the Montgolfier Project. However, SRK Consulting Ltd. ("SRK") has
extrapolated similarities in the stratigraphy and structural setting of the
Montgolfier Project to those of the Casa Berardi Mine, as well as to other
occurrences of gold mineralization in the Casa Berardi Tectonic Zone.
    Assay samples were collected from NQ-size core cut in half lengthwise
with a diamond saw. Assay sample lengths vary from 0.2 to 2.0 metres,
depending on geology. Gold assays were performed using fire assay procedures
with an atomic absorption finish on a 30-gram charge. Assay results grading
above 1.0g Au/t were repeated with a gravimetric finish. J-Pacific employs
industry best practices quality assurance and quality control procedures for
all its exploration programs. All assays were conducted by Laboratoire Expert
Inc. of Rouyn-Noranda, Quebec, which is independent, maintains an internal
quality control program, and participates annually in the CANMET round-robin
proficiency testing, but is not ISO certified. Analytical quality control
measures included the use of replicate assays, and certified reference samples
and blanks in all batches of assayed samples.
    The drilling was performed by Major Drilling Group International Inc.
On-site geological expertise was provided by IOS Services Géoscientifiques
Inc., a Quebec-based geological consulting company, under the supervision of
SRK's Dr. Jean-Francois Couture, P.Geo, J-Pacific's qualified person for this
project for the purpose of NI 43-101, who has reviewed and approved this news
release.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.




For further information:

For further information: visit www.jpgold.com, or call or e-mail: Media
Inquiries: Victor Webb/Madlene Olson Marston, Webb International, (212)
684-6601, Fax: (212) 725-4709, marwebint@cs.com; Investor Relations: Renmark
Financial Communications Inc.: Neil Murray-Lyon:
nmurraylyon@renmarkfinancial.com; Jen Power: jpower@renmarkfinancial.com,
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com; J-Pacific Gold
Inc.: 1-888-236-5200, Fax: (604) 684-6678, info@jpgold.com

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