|Erie Creek, British Columbia
The property consists of 4,805 ha (11,873 acres), located approximately 13 northwest of Salmo and 26 kilometres south of Nelson, along Erie Creek. MINFILE occurrences on, and adjacent to, the property support potential for identification of a zoned porphyry-style deposit. Arguably the most significant with regard to the Company’s preliminary evaluation of the property is the Hattie occurrence (BC MINFILE 082FSW 226) along Erie Creek:
“Mineralization on the property occurs roughly in four concentric zones. An inner quartz-molybdenum plus scheelite zone followed by a chalcopyrite zone, a pyrite-pyrrhotite zone and an outer sphalerite-galena zone. The inner zone is approximately 600 metres in diameter and is centered on the east side of Erie Creek. The host rocks are quartz monzonite dykes, stocks and white rhyolite. The chalcopyrite zone occurs over an area of 1.5 to 2 kilometres and occurs in quartz and sulphide veinlets as fracture coatings and in shear veins with pyrite, pyrrhotite and minor amounts of scheelite. The best copper values obtained, up to 1.3 per cent, were from vein and dump samples mainly from old workings on the west side of Erie Creek (Drum Lummon, Copper King, Dora, Homestake). Pyrite and pyrrhotite, in an area about 1.5 by 2.5 kilometres, occur finely disseminated and as fracture coatings. Sphalerite and galena with some gold occur in shear veins beyond the inner zone, such as the Arnold (082FSW301) and Ben Hassen (082FSW300) showings.
The inner quartz-molybdenite plus or minus scheelite zone is approximately centered on the Hattie or June 2 claim. Host rocks are quartz monzonite dykes and stock, and white rhyolite. Grades in the zone range from 0.01 to 0.059 per cent molybdenum; 0.0166 to 0.196 per cent copper and 0.005 to 0.14 per cent tungsten (Assessment Report 15510). Best results reported by McIntyre Porcupine Mines were 85 metres of 0.115 per cent MoS2 and 0.05 per cent copper, including 30 metres of 41.14 grams per tonne silver (Assessment Report 15510). ...
The mineralization is believed to be part of a zoned porphyry-type deposit which has a central quartz vein stockwork zone containing molybdenum-copper-tungsten mineralization and a peripheral zone with veins containing copper, lead, zinc and silver mineralization. This showing is interpreted as occurring in the central stockwork zone” (MINFILE 082FSW226)”.
Management interpreted mineralization identified to be associated with a buried Molybdenum porphyry localized on, or adjacent to, the Hattie MINFILE occurrence.
During the 2006 field season, a total of 926 soil samples were recovered from the property, along contours intended to test potential for a buried porphyry as well as provide information over the rest of the property. Preliminary results are very encouraging with regard to evaluation of porphyry potential. Tungsten (greater than 100 ppm) and molybdenum (greater than 84.8 ppm) appear to clearly delineate the Erie Creek Stock, which straddles Erie Creek and hosts the Hattie MINFILE occurrence. Copper values between 100 and 1600 ppm also appear to be preferentially localized within the Erie Creek Stock, as defined above. Copper values decrease outward toward strongly anomalous lead / zinc values to the west and northwest. The Copper King MINFILE occurrence is located on the west side of Erie Creek, opposite the Hattie occurrence, coincident with a moderate copper anomaly having values between 20 and 400 ppm. Previous work has included limited drilling in an area with 10 adits and two shafts (Assessment Report 15, 510) and has been “... interpreted as occurring in the peripheral zone (to a zoned porphyry), since there is no documented evidence of molybdenum or tungsten mineralization.
Lead and zinc returned background to low values within the Erie Creek Stock and immediately adjacent host rocks, however, a strongly anomalous zone was delineated on two contour lines west of Erie Creek and north of Grassy Creek. The two lines define a coincident lead-zinc anomaly 3 km long x 2 km wide, oriented north-northwest - south-southeast. The anomaly is defined by lead values greater than 50 ppm and zinc greater than 150 ppm. A higher grade core is evident, defined by lead greater than 150 ppm and zinc greater than 500 ppm (maximum values of 1,882.7 lead and 1,245 zinc).
This area broadly coincides with the location of the Arnold MINFILE occurrence, consisting of five adits and five shafts documented in Assessment Report 15,510. “Cominco drilled several holes in this area in 1926 1927. Old reports document galena, pyrite, sphalerite and chalcopyrite in a poorly defined "zone" of altered volcanics. In 1987, sphalerite and galena were found in shear veins on the Arnold Reverted Crown Grant. Two samples from a quartz vein in an old adit at elevation 1402 metres assayed 41.4 grams per tonne silver, 0.049 grams per tonne gold and 67.3 grams per tonne silver, 0.032 grams per tonne gold, respectively (Assessment Report 15510)” (MINFILE 082FSW301).
As a result, an apparent metal zonation is evident along Erie Creek. Molybdenum, tungsten and high grade copper values appear to be localized within, or immediately adjacent to, the Erie Creek Stock. Copper decreases outward (presumably away from the Erie Creek Stock) coincident with increasing lead and zinc, spatially associated with a pyrite-pyrrhotite zone. These observations support interpretations documented in earlier Assessment Reports (and MINFILE)
In addition, a number of strongly anomalous gold values were documented, with multiple values between 10 and 50 ppb within, and adjacent to, the Erie Creek Stock. These are interpreted to support the interpretations above regarding the presence of zoned porphyry mineralization localized within the Erie Creek Stock, with associated anomalous metals in the surrounding host rocks.
Of particular interest are 9 gold values exceeding 50 ppb, with 4 between 1,000 and 1,500 ppb, immediately west of Erie Creek at the northeastern margin of the prominent lead-zinc anomaly surrounding the Arnold occurrence. The values are at the northern end of a soil line and may, therefore, extend farther north. Further work is proposed for 2007 to further evaluate this gold anomaly.
The Company is very encouraged by the results of the 2006 soil program, which appears to have successfully delineated both a zoned porphyry intrusion and a large base metal geochemical anomaly. A third, highly anomalous gold anomaly will require further work to evaluate in 2007.
The Company initiated a preliminary diamond drill program to evaluate sub-surface mineralization underlying the surface soil anomaly associated with the Erie Creek Stock. The program commenced in mid-February and was road based, focussing on testing the apparent limits of the Erie Creek Stock as defined by surface soil geochemistry and airborne geophysical results. Mineralization evident in the core included pyrrhotite, pyrite, chalcopyrite and molybdenite, in order of abundance. Subsequent geochemical analysis confirmed the presence of copper (as chalcopyrite), molybdenum (as molybdenite) and tungsten (as probable scheelite). Evaluation of the preliminary diamond drill results is ongoing, with further field work proposed during the 2007 field season.
The results of the 2005 Fugro airborne geophysical survey are being interpreted by an independent consultant in an attempt to prioritize the anomalies identified by Fugro and to interpret the geophysical results in the context of the surface geology and previously documented mineral occurrences. The combination of prioritized geophysical anomalies with surface soil geochemistry (both existing and proposed), sub-surface drill information and geological mapping is anticipated to produce additional drill targets for subsequent evaluation.
The Erie Creek property is considered to have considerable potential for discovery of significant mineralization associated with molybdenum porphyry-style, gold - silver - base metal, vein-type and/or skarn-type deposits. Ongoing interpretation of results from previous programs, together with abundant geophysical anomalies documented by the Fugro survey, has provided Management with a wealth of prospective targets for subsequent evaluation.
Jasper Mining Corporation, trading symbol: JSP
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