|JASPER MINING CORPORATION
1020, 833 - 4TH AVENUE S.W.
CALGARY, ALBERTA, T2P 3T5
TELEPHONE: (403) 297-9480, FAX: (403) 266-1487
September 6, 2006
Trading Symbol: JSP (TSX-V)
News Release No. 06-135
JASPER MINING CORPORATION ANNOUNCES AIRBORNE GEOPHYSICAL RESULTS FROM STORM KING PROPERTY
Jasper Mining Corporation (the “Company”) is pleased to announce it has received preliminary results from an Aeroquest International (“Aeroquest”) airborne geophysical program on its 100% owned Storm King property, located approximately 50 km west of Cranbrook, BC and approximately 15 km east of Kootenay Lake. The property consists of four mineral tenures, comprising a total of approximately 986 ha (2,436 acres).
The property is located at the northeasternmost exposure of the Cretaceous Mt. Skelly Pluton, correlated to the Bayonne Magmatic Suite (BMS). Since 1999, a number of studies have been completed by the BC Geological Survey Branch pertaining to the BMS, which is interpreted to have potential for intrusion-related gold deposits analogous to the Tintina Gold Belt in the Yukon and Alaska. Several of these studies emphasized the potential of the Mt. Skelly Pluton. The Storm King property was acquired to cover the Copper King (082FNE065) and Storm King (082FSE008) MINFILE occurrences. Review of MINFILE descriptions and limited information from available Assessment Reports describe a swarm of quartz veins up to 50 feet (15 m) thick associated with the northern contact of the Mt. Skelly Pluton. A number of shafts and adits have been described from previous historical work on Crown Grants in the area. Mineralization has been documented in association with these previous workings. “A shaft was sunk on mineralized quartz; the dump contains a small pile of sorted ore heavily mineralized with pyrite, tetrahedrite, galena, and a little chalcopyrite and arsenopyrite. A selected sample rich in galena and tetrahedrite analysed 0.31 per cent tin; recent samples of such material yielded assays of up to 4.5 grams per tonne gold and 310 grams per tonne silver ...” (MINFILE 082FSE008). One of the Assessment Reports documents several grab samples which reportedly returned up to 1.9% copper. In addition, molybdenite, scheelite and stibnite have been described from the property, interpreted to occur in concentric zones hosted by hornfelsed sediments in the metamorphic aureole of the intrusion.
An Aeroquest airborne geophysical survey was recently completed on the Storm King property and the Company is in receipt of the preliminary data, comprised of electromagnetic, magnetic and radiometric data. Electromagnetic (“EM”) data is expected to identify and delineate possible conductors, which may include faults and/or mineralized veins. Magnetics is expected to allow differentiation of intrusive phases from sedimentary strata hosting the intrusions and, therefore, allow possible identification of one possible control to mineralization. Finally, the radiometric portion of the survey detects the response of three radioactive elements, specifically, potassium, thorium and uranium. Again, radiometrics may allow the Company to differentiate separate intrusive phases.
The preliminary data received indicates a large electromagnetic (“EM”) anomaly at least 900 metres from east to west in the immediate area of the Copper King occurrence and two smaller (less than 850 m long) EM anomalies in the immediate area of the Storm King occurrence. The magnetic data appears to document a northward projecting magnetic tail which progressively decreases in strength to the north. This may represent a tail to the Mount Skelly Pluton underlying the Storm King property (possibly providing a source of mineralized fluids and/or a local heat source). The Copper King and Storm King MINFILE occurrences, and the corresponding EM anomalies, lie on the east flank of this magnetic tail.
The radiometrics are all relatively similar, showing three general anomalous areas, one overlying the northward projecting magnetic anomaly, which broadly corresponds to the northward tapering margin of the Mount Skelly Pluton. The second anomaly is a north-south trending anomaly slightly displaced to the east-northeast while the third is a broad, north-south trending anomaly displaced slightly farther east-northeast again. The two anomalies successively displaced to the east-northeast may document blind (i.e. near surface, not exposed at surface) intrusives, the most northeasterly of which underlies both the Copper King and Storm King mineralized occurrences.
The preliminary results of the Aeroquest survey are very exciting with regard to their interpreted potential and initial interpretation of the preliminary data suggest further evaluation of the property is warranted. The Company is awaiting the final report from Aeroquest with interpretation of results and identification of favourable anomalies from the survey. The final report is expected within the next four to six weeks. A review of the data with representatives of Aeroquest is tentatively scheduled for mid-September.
This press release has been prepared by Richard T. Walker, B.Sc., M .Sc., P. Geo., the “Qualified Person” under National Instrument 43-101.
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For further information contact:
Gordon F. Dixon, Q.C., President, Jasper Mining Corporation
Telephone (403) 297-9480, Fax (403) 266-1487,
email: firstname.lastname@example.org or visit Jasper’s website at www.jaspermining.com