Jasper Mining Corporation - Further high grade results from diamond drill program on Isintok property



    Trading Symbol: JSP (TSX-Venture)

    CALGARY, Sept. 18 /CNW/ - Jasper Mining Corporation (the "Company") has
received analytical results from an additional four holes from its 100% owned
Isintok property. The property comprises approximately 2,839 ha (7,015 acres
or approximately 11.0 square miles), covering the drainage divide between
McNulty and Isintok creeks. The property is located west of the Okanagan
Valley in south-central British Columbia, approximately 27 km west-southwest
of Summerland and 20 km north of Hedley.
    Hole IS-08-45 is currently being drilled, bringing to 30 the total number
of diamond drill holes completed to date as part of the 2008 exploration
program, in addition to the intial 16 hole drill program completed during the
2006 field season. The holes continue the Company's evaluation of sub-surface
mineralization corresponding to coincident surface soil and Induced Potential
anomalies.
    The results from the four holes released herein are from holes drilled
along the east flank of the coincident anomaly, all of which were drilled
toward the west into mineralization controlled by steeply, generally west
dipping structures. As a result, they are interpreted to have been drilled
sub-parallel to the controlling structure which has the result of diluting the
vein density but exaggerating the thickness of any mineralized interval.
Management believes the overall result has been essentially a trade-off as
visual results from multiple holes drilled on the western side of the
coincident anomaly are tentatively interpreted to indicate similar (and
potentially better) overall grades. However, management would like to
emphasize that this is an entirely empirical observation at this point,
subject to confirmation through analytical results expected over the next
several weeks.
    Management also wishes to emphasize the point that while 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 3.985% Mo (6.647% MoS(2)) over 0.32 m and composite intervals grading
0.055% Mo (0.092% MoS(2)) 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 (IS-08-19, 20, 21 and
25B).

    
    -------------------------------------------------------------------------
     Hole       From     To      Width  Cu(2)    Mo   MoS(2)(3)   Ag     Au
    Number       (m)     (m)      (m)    (%)     (%)     (%)    (g/t)  (g/t)
    -------------------------------------------------------------------------
    IS-08-19    48.44   52.51     4.07   0.191   0.017   0.029   1.1   0.062
    -------------------------------------------------------------------------
    including   49.26   49.79     0.53   0.847   0.078   0.131   3.9   0.145
    -------------------------------------------------------------------------
    including   51.79   52.51     0.72   0.384   0.036   0.060   2.9   0.240
    -------------------------------------------------------------------------
                58.29   58.59     0.30   0.295   0.166   0.277   3.2   0.081
    -------------------------------------------------------------------------
                58.90   59.14     0.24   0.980   0.005   0.008   7.7   0.206
    -------------------------------------------------------------------------
                63.01  126.70  63.69(1)  0.140   0.039   0.065   1.0   0.032
    -------------------------------------------------------------------------
    including   63.01  107.59  44.58(1)  0.171   0.055   0.092   1.3   0.044
    -------------------------------------------------------------------------
    including   63.01   63.47     0.46   0.429   0.015   0.025   8.2   0.184
    -------------------------------------------------------------------------
    including   65.12   65.47     0.35   0.397   0.071   0.118   5.6   0.110
    -------------------------------------------------------------------------
    including   69.19   70.71     1.52   0.727   0.104   0.173   5.8   0.166
    -------------------------------------------------------------------------
    including   70.71   72.23     1.52   0.530   0.051   0.085   7.2   0.219
    -------------------------------------------------------------------------
    including   77.04   77.32     0.28   0.503   0.013   0.022   2.1   0.008
    -------------------------------------------------------------------------
    including   81.38   82.90     1.52   0.255   0.187   0.312   1.0   0.004
    -------------------------------------------------------------------------
    including   90.52   92.04     1.52   0.331   0.004   0.007   1.4   0.012
    -------------------------------------------------------------------------
    including  101.02  101.34     0.32   0.265   3.985   6.647   6.3   0.024
    -------------------------------------------------------------------------
    including  103.90  104.14     0.24   0.868   0.001   0.002   4.1   0.024
    -------------------------------------------------------------------------
    including  107.29  107.59     0.30   0.465   1.306   2.178   6.6   2.684
    -------------------------------------------------------------------------
    IS-08-20    27.20   27.54     0.34   0.418   0.001   0.002   4.4   0.055
    -------------------------------------------------------------------------
                27.70   28.05     0.35   0.524   0.005   0.008   3.5   0.308
    -------------------------------------------------------------------------
                33.37   33.68     0.31   0.877   0.011   0.018   9.8   0.252
    -------------------------------------------------------------------------
                37.63   37.72     0.09   0.230   0.000   0.000   4.0   0.026
    -------------------------------------------------------------------------
                44.35   57.82  13.47(1)  0.080   0.042   0.070   0.9   0.015
    -------------------------------------------------------------------------
    including   44.35   45.11     0.76   0.455   0.055   0.092   5.0   0.077
    -------------------------------------------------------------------------
    including   46.66   48.16     1.50   0.152   0.343   0.572   2.1   0.034
    -------------------------------------------------------------------------
                93.87  105.46    11.59   0.096   0.034   0.056   0.4   0.010
    -------------------------------------------------------------------------
    including   94.30   94.89     0.59   0.690   0.645   1.076   3.0   0.063
    -------------------------------------------------------------------------
               140.82  141.75     0.93   0.006   0.050   0.083   0.1   0.000
    -------------------------------------------------------------------------
               141.75  142.00     0.25   0.004   0.096   0.160   0.0   0.000
    -------------------------------------------------------------------------
               152.26  152.85     0.59   0.080   0.672   1.121   1.6   0.021
    -------------------------------------------------------------------------
               204.41  210.02     5.61   0.491   0.002   0.004   6.1   0.117
    -------------------------------------------------------------------------
    including  205.12  206.64     1.52   0.636   0.004   0.007   7.3   0.090
    -------------------------------------------------------------------------
    including  206.64  208.14     1.50   0.649   0.002   0.003   8.2   0.271
    -------------------------------------------------------------------------
    including  208.14  209.69     1.55   0.379   0.000   0.000   4.7   0.048
    -------------------------------------------------------------------------
               259.99  261.51     1.52   0.340   0.000   0.000   4.0   0.048
    -------------------------------------------------------------------------
               278.43  278.88     0.45   0.083   0.123   0.205   0.6   0.017
    -------------------------------------------------------------------------
               278.43  281.21     2.78   0.081   0.173   0.289   0.6   0.016
    -------------------------------------------------------------------------
    including  280.33  280.84     0.51   0.189   0.371   0.619   1.0   0.010
    -------------------------------------------------------------------------
    including  280.84  281.21     0.37   0.175   0.603   1.006   1.3   0.067
    -------------------------------------------------------------------------
    IS-08-21   115.14  122.85     7.71   0.098   0.184   0.308   1.2   0.020
    -------------------------------------------------------------------------
    including  115.14  115.77     0.63   0.146   0.675   1.126   3.7   0.086
    -------------------------------------------------------------------------
    including  115.77  116.47     0.70   0.145   0.766   1.278   2.7   0.040
    -------------------------------------------------------------------------
    including  118.87  119.56     0.69   0.231   0.419   0.699   1.0   0.048
    -------------------------------------------------------------------------
    including  120.84  121.42     0.58   0.448   0.042   0.070   5.0   0.036
    -------------------------------------------------------------------------
               140.62  140.82     0.20   0.116   0.395   0.659   3.2   0.024
    -------------------------------------------------------------------------
               221.88  290.49    17.63   0.094   0.006   0.011   0.9   0.019
    -------------------------------------------------------------------------
    including  285.89  287.41     1.52   0.334   0.011   0.018   3.0   0.053
    -------------------------------------------------------------------------
               328.78  334.65     5.87   0.107   0.004   0.006   1.1   0.013
    -------------------------------------------------------------------------
               346.85  248.07     1.22   0.187   0.000   0.000   2.2   0.059
    -------------------------------------------------------------------------
    IS-08-25B  165.72  189.59  23.87(1)  0.127   0.010   0.017   0.9   0.021
    -------------------------------------------------------------------------
    including  165.72  171.57     5.85   0.280   0.014   0.023   2.1   0.054
    -------------------------------------------------------------------------
    including  165.72  171.57     0.46   0.304   0.004   0.007   2.6   0.155
    -------------------------------------------------------------------------
    including  168.46  170.07     1.61   0.717   0.045   0.075   5.2   0.120
    -------------------------------------------------------------------------
    including  183.41  185.32     1.91   0.380   0.062   0.103   2.4   0.041
    -------------------------------------------------------------------------
               212.11  232.58    20.47   0.100   0.032   0.053   0.8   0.024
    -------------------------------------------------------------------------
    including  227.49  228.61     1.12   0.548   0.501   0.836   4.4   0.174
    -------------------------------------------------------------------------
               287.98  288.33     0.35   0.388   0.000   0.000   2.0   0.097
    -------------------------------------------------------------------------

    (*) 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 - Several composite widths include short intervals that have not been
    sampled yet. Values of zero were assigned for all metals over these
    intervals. Therefore, they represent minimum values as of this writing.

    2 - Only single sample intervals having copper values greater than 0.3 %
    were reported for Hole 18 in the table above.

    3 - Conversion factor from Mo to MoS(2) is 1.6681.
    

    To date, core sampling has emphasized both high grade intervals and
thicker higher grade zones within holes evaluated to date. Further sampling
will be undertaken on the holes reported in the future so as complete sampling
over the entire length of the core recovered. As such, the relatively short,
high grade intercepts documented to date will be incorporated into thicker
composite intervals, with both a reduction in overall grade and a
corresponding increase in mineralized thickness.
    The intent of the 2008 drill program is to document a mineralized deposit
having bulk 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 current prices and
assumes 100% recovery for all metals. As a result, the resulting copper
equivalency values are presented herein solely for initial discussion
purposes. Further work will be undertaken on the copper equivalency equation
so as to produce more meaningful values in future releases.
    Preliminary copper equivalency (Cu. EQ.) results are presented in the
following table:

    
                  ------------------------------------------------
                     Hole      From      To     Width   Cu. EQ.(1)
                    Number      (m)      (m)     (m)       (%)
                  ------------------------------------------------
                   IS-08-17    67.31   100.35   33.04     0.081
                  ------------------------------------------------
                   including   83.41    89.21    5.80     0.241
                  ------------------------------------------------
                   IS-08-18    51.40    67.66   16.26     3.605
                  ------------------------------------------------
                               97.64   108.50   10.86     1.238
                  ------------------------------------------------
                   IS-08-19    48.44    52.51    4.07     0.486
                  ------------------------------------------------
                               63.01   126.70   63.69     0.766
                  ------------------------------------------------
                   IS-08-20    44.35    57.82   13.47     0.745
                  ------------------------------------------------
                               93.87   105.46   11.59     0.627
                  ------------------------------------------------
                              204.41   210.02    5.61     0.606
                  ------------------------------------------------
                              278.43   281.21    2.78     2.783
                  ------------------------------------------------
                   IS-08-21   115.14   122.85    7.71     2.977
                  ------------------------------------------------
                              221.88   290.49   17.63     0.206
                  ------------------------------------------------
                              328.78   334.65    5.87     0.173
                  ------------------------------------------------
                   IS-08-25B  165.72   189.59   23.87     0.299
                  ------------------------------------------------
                              212.11   232.58   20.47     0.603
                  ------------------------------------------------
    

    1 - The equation used to calculate the copper equivalent is as follows:

    Cu. EQ (%) = ((Cu(%)(*)20(*)
$Cu)+((Mo%(*)20(*)1.5(*)$MoO(3)))+((Ag(*)($Ag/34.2857))+(Au(*)($Au/34.2857)))/(20(*)$Cu)

    where $Cu = $3.26/lb, $Mo0(3) = $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 utlized for the metals was taken from the
September 8 -14 Northern Miner and so does not address expected trends in
metal prices.

    Initial visual observations of the drill core returned from the 2008
program continues to document greater proportions of both molybdenum and
bornite relative to the 2006 program. Trace to locally minor bornite was noted
in the core from the 2006 program, with copper mineralization represented
virtually exclusively by chalcopyrite. (Note: chalcopyite contains
approximately 33% copper by mass whereas bornite contains approximately 63%
copper by mass, therefore, the presence of bornite represents a significant
increase in copper content relative to chalcopyrite). In contrast, bornite has
been documented in virtually every hole completed in 2008, with a subordinate
population of mineralized veins dominated by bornite and a minor proportion
comprised exclusively of bornite. The apparent increase in bornite content,
particularly the presence of veins comprised dominantly to exclusively of
bornite, is interpreted to indicate proximity to a relatively high grade
copper-bearing portion of the host porphyry.
    In addition, moderately to very highly anomalous molybdenum continues to
be visually and analytically documented in the 2008 drill holes. Molybdenum
grades to 3.985% Mo (6.647% MoS(2)) over 0.32 m and composite intervals
grading 0.055% Mo (0.092% MoS2) over 44.58 m.
    Results from the 2008 surface soil sampling program have documented a
significant increase in the size of the surface soil anomaly previously
reported (see News Releases dated December 14, 2006 and July 2, 2008).
Initially, results from surface soil sampling defined a relatively high grade
core, oriented north-south, having minimum dimensions of 1.3 km north-south by
400 m east-west and open to the south. Further sampling in 2007 was intended
to "close" the anomaly. As a result, the surface soil anomaly was extended a
further 400 m south. In addition, a prominent linear defined by coincident Cu
- Mo - W was identified, extending to the northwest from the southernmost
portion of the initial anomaly.
    The 2008 sampling program extended the linear soil anomaly approximately
3 km northwest, with a second linear soil anomaly extending approximately
1.5 km west. As a result, the overall surface soil anomaly defined is
approximately 4.2 km in length, generally oriented northwest - southeast, and
up to 1 km in width. A second 1.5 km long linear surface soil anomaly extends
to the west from the area of current drilling, localized in the southern third
of the overall soil anomaly. The Chargeability anomaly defined by the 2006
Induced Potential survey, coincides with the initial surface soil anomaly
defined in 2006. This coincidence of the surface soil and Chargeability
anomalies, together with sub-surface mineralization subsequently confirmed
through diamond drilling, is interpreted to indicate analogous mineralization
associated with the overall Cu-Mo-W surface soil anomaly defined by soils
recovered between 2006 and 2008. Management believes the surface soil anomaly
defined, taken together with locally coincident IP results and sub-surface
mineralization identified through drilling, represents potential for a
considerable increase to the size of the overall mineralized system.
    Management is very excited with the high grade results from an additional
four drill holes completed in 2008 to test the IP anomaly. Management is very
encouraged by these results as they continue to confirm sub-surface
mineralization, at higher grades, documented by previous drill programs.
    Management is unreservedly encouraged by continued results of the 2008
field program, confirming the coincident surface soil and IP survey results,
together with high grade, sub-surface mineralization. Drilling continues on
the property as part of the 2008 field season and will be reported as further
results are received.
    This press release has been prepared by Richard T. Walker, B.Sc, M.Sc, P.
Geo., the "Qualified Person" under National Instrument 43-101.

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




For further information:

For further information: Gordon F. Dixon, Q.C., President, Jasper Mining
Corporation, Telephone (403) 297-9480, Fax (403) 266-1487, email:
xon@telus.net; Investor relations inquiries may be directed to Robert Rowell,
Telephone (403) 668-4880, email:ir@beaumontcapital.ca


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