Jasper Mining Corporation announces further high grade molybdenum results from McFarlane property



    Trading Symbol: JSP (TSX-V)

    CALGARY, Oct. 20 /CNW/ - Jasper Mining Corporation (the "Company") is
presently drilling on its Isintok property in British Columbia. Drill cores
from both the Isintok and McFarlane properties have been backing up and as the
results are assayed and interpreted from both properties, further information
will be announced. Management is impressed with the high grade results from
both Isintok and McFarlane.

    
    McFarlane
    ---------
    

    Jasper is pleased to announce further high grade molybdenum results from
six additional holes completed as part of its Phase II drill program to
evaluate high grade molybdenite-bearing quartz veins on the McFarlane
property. Results to date have included molybdenite values up to 3.235 % Mo
(5.396% MoS(2)(1)) with composite intervals exceeding 7.37 metres. Results
greater than 0.1% MoS(2)(1) (600 ppm Mo) are reported below. (Note: the
minimum cut-off for reporting anomalous results has been lowered from 0.1% Mo
to 0.1% MoS2). An additional 45 samples (in addition to those reported below)
returned Mo values greater than 100 ppm.

    
    -------------------------------------------------------------------------
       Hole           From       To     Width(*)     Mo       Mo    MoS(2)(1)
      Number           (m)       (m)      (m)       (ppm)     (%)      (%)
    -------------------------------------------------------------------------
    MF-07-21          33.63     51.25    17.62      554.1    0.055     0.092
    -------------------------------------------------------------------------
                      34.37     34.85     0.48      716.3    0.072     0.120
    -------------------------------------------------------------------------
         including    34.85     35.40     0.55      641.5    0.064     0.107
    -------------------------------------------------------------------------
         including    35.80     36.00     0.20     1525.0    0.153     0.255
    -------------------------------------------------------------------------
         including    39.20     39.43     0.23      901.3    0.090     0.150
    -------------------------------------------------------------------------
         including    40.23     41.00     0.77      721.9    0.072     0.120
    -------------------------------------------------------------------------
         including    47.46     48.03     0.57      848.1    0.085     0.142
    -------------------------------------------------------------------------
         including    48.03     48.41     0.38    14070.0    1.407      2.35
    -------------------------------------------------------------------------
         including    48.41     49.08     0.67      918.7    0.092     0.153
    -------------------------------------------------------------------------
         including    50.75     51.25     0.50     1816.0    0.182     0.304
    -------------------------------------------------------------------------
                     141.42    141.76     0.34     2650.0    0.265     0.442
    -------------------------------------------------------------------------
    MF-07-21          14.52     14.68     0.16      644.0    0.644     1.074
    -------------------------------------------------------------------------
                      33.19     34.09     0.90        656    0.066     0.110
    -------------------------------------------------------------------------
         including    33.19     33.35     0.16      612.0    0.061     0.102
    -------------------------------------------------------------------------
         including    33.35     33.75     0.40     1228.2    0.123     0.205
    -------------------------------------------------------------------------
                      39.50     40.05     0.55      698.9    0.070     0.117
    -------------------------------------------------------------------------
                     114.43    115.42     0.99       3094    0.309     0.515
    -------------------------------------------------------------------------
         including   114.86    115.42     0.56       5050    0.505     0.842
    -------------------------------------------------------------------------
    MF-07-23          47.53     47.83     0.30       6680    0.668     1.114
    -------------------------------------------------------------------------
                      50.65     51.50     0.85        860    0.086     0.143
    -------------------------------------------------------------------------
         including    51.27     51.50     0.23     1855.2    0.186     0.310
    -------------------------------------------------------------------------
                      68.43     68.63     0.20      793.6    0.079     0.132
    -------------------------------------------------------------------------
    MF-07-25          41.79     42.12     0.33     1318.6    0.132     0.220
    -------------------------------------------------------------------------
                      68.37     69.05     0.68      595.8    0.060     0.100
    -------------------------------------------------------------------------
                      75.12     75.31     0.19     1410.6    0.141     0.235
    -------------------------------------------------------------------------
    MF-07-47          26.20     26.34     0.14       7440    0.744      1.24
    -------------------------------------------------------------------------
                      77.74     82.15     4.41        948    0.948     1.581
    -------------------------------------------------------------------------
         including    78.08     78.62     0.54       6380    0.638     1.064
    -------------------------------------------------------------------------
         including    80.78     81.20     0.42      981.9    0.098     0.163
    -------------------------------------------------------------------------
                     108.66    109.10     0.44       4310    0.431     0.719
    -------------------------------------------------------------------------
                     112.48    112.68     0.20     1162.5    0.116     0.193
    -------------------------------------------------------------------------
    MF-07-53          25.25     25.44     0.19     1042.1    0.104     0.173
    -------------------------------------------------------------------------
                      70.68     70.77     0.09      805.3    0.081     0.135
    -------------------------------------------------------------------------
                      94.48     94.87     0.39      684.4    0.068     0.113
    -------------------------------------------------------------------------
                     117.09    118.00     0.91      833.6    0.083     0.138
    -------------------------------------------------------------------------

    (*) The angle between the core axis and veins were all at an inclined
        angle and so widths reported 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 MoS(2) 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.

    
    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


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890