CALGARY, March 12 /CNW/ - Jasper Mining Corporation ("Jasper") is
continuing the diamond drill program on its 100% owned McFarlane property. A
total of 49 holes (comprising approximately 8,000 metres of core) have been
completed by Jasper to date, with another 14 proposed for completion in the
immediate future. The holes have been drilled to test a high grade molybdenite
vein system previously reported in two adits (Ben Derby MINFILE occurrence
082FNE125) and Jasper's previous drill programs (See News Releases dated
July 27, 2006 and July 4, 2007).
Since re-mobilizing to the property on February 12, 2008, a total of
almost 6,000 metres of NQ2 core has been recovered from 37 drill holes along
the existing road network between the two adits. The holes have been drilled
to develop and evaluate a molybdenite-bearing vein system which contains very
encouraging grades of mineralization as documented in many intercepts to date.
Molybdenite mineralization varies from coatings several mm thick along vein
contacts, through fine- to very coarse-grained disseminations within quartz
(plus pyrite plus/minus sericite plus/minus alkali feldspar) veins to thin (up
to 2 cm thick) visually pure molybdenite veins.
The vein system trends essentially east-west with dip varying between
steeply north and steeply south dipping. Quartz monzonite is the predominant
host lithology, with overlying metasediments (having a very well developed
penetrative foliation) hosting only minor molybdenite-bearing veins. Quartz
plus pyrite plus/minus sericite veins are relatively abundant throughout the
drill core, however, vein density is highly variable.
The current high priority drill target is a pair of relatively thick
molybdenite-bearing quartz veins occurring between the Ben Derby and a second
adit located almost 500 metres due east at higher elevation. The veins are
each up to 1.5 m thick (estimated true thickness) and generally contain highly
anomalous molybdenite in association with very coarse-grained pyrite (to
five cm) and variable sericitic alteration.
Drill core recovered from the program continues to be evaluated and
sampled, with samples submitted for analysis to Acme Laboratories Ltd in
Vancouver, BC. A total of approximately 500 analyses are expected to be
submitted from the 2007-08 program to the end of April, comprising holes 9
through 50 (once completed). Preliminary results for early holes have been
received and are being evaluated. Quantitative analytical results from early
holes will be released in the near future, with subsequent results released at
a later date.
Jasper anticipates being in a position to calculate a mineral resource
for the McFarlane property based on all of the drilling results including the
The property is adjacent to and is contiguous with Jasper'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
Flow-through funding for this project has been provided to Jasper by
MineralFields Group (a division of Pathway Assets Management).
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:
firstname.lastname@example.org; Investor relations inquiries may be directed to Robert Rowell,
Telephone (403) 668-4880, email:email@example.com