Jasper Mining Corporation reports discovery hole from Isintok property - 94.67 m grading 0.086% Cu and 0.015% Mo (0.026% MoS2)



    Trading Symbol: JSP (TSX-Venture)

    CALGARY, Oct. 15 /CNW/ - Jasper Mining Corporation (the "Company") has
received further analytical results 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-08-51 is currently being drilled to continue the Company's
exploration program to evaluate sub-surface mineralization corresponding to
coincident surface soil and Induced Potential anomalies. Holes 23 and 24 were
drilled on the east flank of the coincident anomaly, into mineralization
interpreted to be controlled by steeply west dipping structures. As a result,
the holes are interpreted to have been drilled at a shallow angle to the
controlling structures which has the result of diluting vein density while
exaggerating the thickness of any mineralized interval.
    Hole IS-08-34 was drilled from the west side of the coincident soil/IP
anomaly and was oriented to the east. As a result, it is the first hole
drilled of the 2008 program to be drilled at a high angle to structures
interpreted to control mineralization. Furthermore, vein density visually
documented in the hole was the greatest of any hole recovered to date. As a
result, Hole 34 is considered the discovery hole for a potential Cu - Mo +/-
Ag +/-Au deposit at Isintok .
    Management also wishes to emphasize 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 (0.442% over 0.86 m)
have also been documented.
    The following table is a compilation of high grade analytical results for
copper +/- molybdenum +/- silver +/- gold for holes IS-08-23, 24 and 34.

    
    -------------------------------------------------------------------------
       Hole      From     To     Width   Cu      Mo   MoS(2)(1)   Ag     Au
      Number      (m)     (m)     (m)    (%)     (%)     (%)    (g/t)  (g/t)
    -------------------------------------------------------------------------
    IS-08-23     25.32   31.41   6.09   0.346   0.030   0.050   6.55   0.091
    -------------------------------------------------------------------------
    including    28.23   29.16   0.93   1.612   0.190   0.317   29.8   0.411
    -------------------------------------------------------------------------
    including    29.16   29.87   0.71   0.141   0.004   0.007    3.7   0.073
    -------------------------------------------------------------------------
    including    29.87   31.41   1.54   0.230   0.002   0.003    2.9   0.051
    -------------------------------------------------------------------------
                 47.79   48.16   0.38   0.449   0.000   0.000    4.3   0.047
    -------------------------------------------------------------------------
                 70.73   80.19   9.46   0.155   0.002   0.003   0.71   0.023
    -------------------------------------------------------------------------
    including    70.73   71.75   1.02   0.107   0.002   0.003    0.4   0.006
    -------------------------------------------------------------------------
    including    71.75   72.64   0.89   1.180   0.002   0.003    5.8   0.224
    -------------------------------------------------------------------------
    including    74.05   74.52   0.47   0.138   0.000   0.000    0.5   0.005
    -------------------------------------------------------------------------
                115.82  116.69   0.87   0.257   0.047   0.078    0.8   0.012
    -------------------------------------------------------------------------
                116.69  118.26   1.57   0.259   0.017   0.028    1.2   0.012
    -------------------------------------------------------------------------
    IS-08-24     52.73   54.25   1.52   0.067   0.134   0.223    0.4   0.008
    -------------------------------------------------------------------------
                 94.88   95.47   0.59   0.281   0.042   0.070    4.3   0.131
    -------------------------------------------------------------------------
                 95.47   96.92   1.45   0.138   0.081   0.135    2.0   0.056
    -------------------------------------------------------------------------
                106.07  106.34   0.27   0.104   0.020   0.033    1.7   0.053
    -------------------------------------------------------------------------
                199.94  208.19   8.25   0.103   0.002   0.003   0.91   0.023
    -------------------------------------------------------------------------
    including   199.94  200.55   0.61   0.559   0.005   0.008    4.6   0.183
    -------------------------------------------------------------------------
    including   205.05  205.54   0.49   0.122   0.002   0.003    0.9   0.008
    -------------------------------------------------------------------------
    including   206.64  208.19   1.55   0.127   0.004   0.007    1.4   0.018
    -------------------------------------------------------------------------
    IS-08-34    147.64  242.31  94.67   0.086   0.015   0.026   0.77   0.024
    -------------------------------------------------------------------------
    including   151.56  151.94   0.38   0.215   0.001   0.002    2.9   0.185
    -------------------------------------------------------------------------
    including   166.19  166.40   0.31   0.176   0.003   0.005    2.3   0.322
    -------------------------------------------------------------------------
    including   169.66  170.05   0.39   0.146   0.004   0.007    1.3   0.112
    -------------------------------------------------------------------------
    including   175.30  175.90   0.60   0.189   0.029   0.048    1.7   0.093
    -------------------------------------------------------------------------
    including   175.90  176.91   1.01   0.169   0.050   0.083    1.7   0.100
    -------------------------------------------------------------------------
    including   176.91  178.02   1.11   0.115   0.021   0.035    1.3   0.052
    -------------------------------------------------------------------------
    including   185.61  187.11   1.50   0.128   0.026   0.043    0.7   0.014
    -------------------------------------------------------------------------
    including   185.61  187.11   1.50   0.128   0.026   0.043    0.7   0.014
    -------------------------------------------------------------------------
    including   187.11  188.66   1.55   0.112   0.029   0.048    0.6   0.005
    -------------------------------------------------------------------------
    including   188.66  189.88   1.22   0.216   0.046   0.077    2.5   0.136
    -------------------------------------------------------------------------
    including   189.88  190.68   0.80   0.146   0.075   0.125    1.3   0.032
    -------------------------------------------------------------------------
    including   191.59  192.54   0.95   0.190   0.053   0.088    0.8   0.036
    -------------------------------------------------------------------------
    including   192.54  193.17   0.63   0.278   0.072   0.120    1.3   0.042
    -------------------------------------------------------------------------
    including   193.17  194.76   1.59   0.183   0.022   0.037    1.1   0.016
    -------------------------------------------------------------------------
    including   194.76  196.26   1.50   0.118   0.015   0.025    0.7   0.019
    -------------------------------------------------------------------------
    including   196.26  197.53   1.27   0.335   0.041   0.068    3.3   0.056
    -------------------------------------------------------------------------
    including   197.53  198.29   0.76   0.258   0.115   0.192    2.3   0.131
    -------------------------------------------------------------------------
    including   198.29  199.96   1.67   0.100   0.002   0.003    1.6   0.050
    -------------------------------------------------------------------------
    including   199.96  200.85   0.89   0.307   0.029   0.048    2.1   0.055
    -------------------------------------------------------------------------
    including   200.85  202.35   1.50   0.141   0.024   0.040    1.0   0.019
    -------------------------------------------------------------------------
    including   202.35  203.90   1.55   0.174   0.040   0.067    1.4   0.020
    -------------------------------------------------------------------------
    including   216.78  218.28   1.50   0.181   0.010   0.017    2.2   0.058
    -------------------------------------------------------------------------
    including   222.48  224.02   1.54   0.198   0.022   0.037    1.6   0.017
    -------------------------------------------------------------------------
    including   224.02  224.26   0.24   0.103   0.032   0.053    1.2   0.053
    -------------------------------------------------------------------------
    including   226.78  228.28   1.50   0.118   0.010   0.017    0.8   0.032
    -------------------------------------------------------------------------
    including   228.85  229.15   0.30   0.159   0.005   0.008    1.1   0.019
    -------------------------------------------------------------------------
    including   231.84  232.45   0.61   0.444   0.051   0.085    3.2   0.061
    -------------------------------------------------------------------------
    including   242.15  242.31   0.16   0.204   0.013   0.022    1.9   0.073
    -------------------------------------------------------------------------
                                                               (less
                                                                than)
                244.98  245.35   0.37   0.001   0.158   0.264    0.1   0.006
    -------------------------------------------------------------------------

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

    To date, core sampling has emphasized both visually high grade intervals
and thicker mineralized zones within holes evaluated to date. Further sampling
will be undertaken on each hole reported so as to complete sampling over the
entire length of each hole recovered. As such, 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.
    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-08-34    147.64         242.31         94.67       0.339
       ---------------------------------------------------------------

    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 utlized for the metals was taken from the
September 8 - 14 Northern Miner and so does not address expected trends in
metal prices.

    Management continues to be very excited by high grade results from the
Isintok property. Management is very encouraged by additonal results as they
continue to confirm sub-surface mineralization, at higher grades, documented
by previous drill programs.
    Management is unreservedly encouraged by results returned from the 2008
program, confirming coincident surface soil and IP survey results, together
with high grade, sub-surface mineralization. Drilling continues on the
property and additional results will be reported as received.
    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


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