|JASPER MINING CORPORATION
1020, 833 - 4TH AVENUE S.W.
CALGARY, ALBERTA, T2P 3T5
TELEPHONE: (403) 297-9480, FAX: (403) 266-1487
December 14, 2006
Trading Symbol: JSP (TSX-V)
News Release No. 06-147
JASPER MINING CORPORATION - MANAGEMENT DISCUSSION ON RESULTS OF 2006 EXPLORATION PROGRAM ON ISINTOK PROPERTY
Jasper Mining Corporation (the “Company”) has completed the 2006 exploration program on its 100% owned Isintok property. The property comprises approximately 3,007 ha (7,433 acres or 11.6 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.
The diamond drill has recently been moved off the property, concluding the 2006 drill program. A total of 16 diamond drill holes were completed in two phases, holes 1 through 10 during the summer and 11 through 16 in the fall. The holes were intended to continue the Company’s evaluation of subsurface mineralization in an area identified in previous drill programs in 1982 and 1996-1979.
Coincident with drilling, the Company completed soil sampling and an IP survey. The results of soil sampling are very encouraging. In particular, the Company’s Grid B returned a high proportion of anomalous results for elements of interest, including copper (Cu), molybdenum (Mo), silver (Ag), tungsten (W) and gold (Au). Virtually the entirety of Grid B (consisting of 15 separate lines between 1.0 and 1.3 km in length, oriented east-west, totalling approximately 16.5 line kilometres) returned anomalous values for these metals, with a relatively high grade core oriented north-south. This core is a minimum of 1.3 km north-south by 400 m east-west and remains open to the south.
Management believes these results are very encouraging as they are supported by sub-surface mineralization as documented by drill results, from previous programs as well as those completed by the Company. Furthermore, preliminary interpretation of drill results appears to support a generally north-south trend to the mineralization, as documented by the soils. Finally, drilling to date has utilized the existing road network, with all holes drilled on, or west of, a north-south access road to the drill area. The high grade soil anomaly is located east of the road to the south and crosses the road at a shallow oblique angle to the north, passing across the road to the west side. As a result, the mineralized intercepts documented to date appear to represent lower grade mineralization on the west side of the mineralized zone, as defined by soil results.
Holes 15 and 16 were collared approximately 50 m south and north, respectively, of percussion hole PD-11, which documented 42.7 m of 0.28% Cu and 315 ppm Mo. PD-11 is tentatively interpreted to have been drilled down, and within, a mineralized vein system and, therefore, to have been mineralized along virtually the entire length of the hole. Holes 15 and 16 were intended to document the same mineralized system passing, however, from the west side to the east and thereby allowing a determination of its thickness and orientation.
Hole 14 was drilled in an attempt to define one or more mineralized systems identified in, and farther to the north of, previous drilling. The hole did, indeed, intersect three visually identified, separate and distinct mineralized intervals, associated with stronger alteration.
As described in an earlier Press Release (December 12, 2006), given the occurrence of multiple short intervals of semi-massive to massive chalcopyrite in holes 15 and 16, together with three intervals of mineralization in Hole 14, management believed the results of these three holes to be material. The strength of the mineralization is visually better than that noted (or described) in any previous hole completed by the Company on the Isintok project. In addition, the greater extent of alteration associated with mineralization is tentatively interpreted to indicate a location that may be close to an, as yet unidentified, mineralized source.
Management is unreservedly encouraged by the results of the 2006 field program and, in particular, the initial visual results of holes 14 through 16. Quantitative analytical results of the mineralized core are expected in early January and will be released once received and reviewed. Further work will be carried out on the property during the 2007 field season and will include expansion of the existing grids to the south west and northwest as well as additional diamond drilling.
This press release has been prepared by Richard T. Walker, B.Sc., M .Sc., P. Geo., the “Qualified Person” under National Instrument 43-101.
- 30 -
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information contact:
Gordon F. Dixon, Q.C., President, Jasper Mining Corporation
Telephone (403) 297-9480, Fax (403) 266-1487,
email: email@example.com or visit Jasper’s website at www.jaspermining.com