June 14, 2019
Edmonton, AB-June 12, 2019-Jaeger Resources Corp. (“Jaeger”) (TSXV:JAEG) is pleased to announce the approval for a New Brunswick Junior Mining Assistance Program grant of $25,000 for the Taylor Brook zinc – lead – silver Property in New Brunswick. This grant will be used for the exploration program of line cutting, magnetometer, VLF and Induced Polarization geophysical surveys and drilling. Line cutting will extend the grid by 12 kilometers which was initially established in 2018. This program will also include some preliminary geometallurgical work on selected core which is necessary for metallurgical test work that would be initiated in future development of the property. This grant also implies the importance of exploration to the government and communities of New Brunswick.
Jaeger has also received the work permit for the exploration program on the property. It is anticipated that the line cutting will start in early June followed by the magnetometer and VLF geophysical surveys.
In follow up to the magnetometer and VLF surveys, a deep pole-dipole IP survey is warranted to determine if anomalies can be correlated with interpreted mineralized zones. The IP will be done using a large array and large n factors to explore to adequate depth. Pole-dipole is better than dipole-dipole because it has greater signal strength compared to noise, and it inherently has greater penetration depth.
The purpose of these geophysical surveys is as follows:
Previous drilling on the East Main Taylor Brook deposit confirmed that the zone continues westerly and at depth. Further exploration is warranted, as the deposit has not been delineated laterally to the east or west, nor to depth. The deposit appears to have a nucleus of higher grade massive sulphides concentrated in the northwest of the deposit that remains untested. This deposit appears to have several mineralized horizons and is folded with faulted offsets. The IP anomaly lying 350 meters west of the Taylor Brook deposit remains unexplained. Historical drilling direction appears to be directed northeast; however it would be prudent to drill in other directions if folding and faulting suggest other mineralized directions.
Compilation of data will continue and preparation of longitudinal sections to better defines future diamond drill collar locations. A geological model must be created in order to understand the resources.
From review of the geology map together with the recent geophysical surveys, there are several areas in which to follow up. Several mineralized areas have not been significantly drill tested. Additional drilling is needed in order to complete an updated mineral resource estimate as outlined in the 2011 mineral resource report (see website for details).
A favourable geological setting together with results of the work done to date (see press releases dated December 16, 2018 and March 4, 2019) show that the property has the potential for additional drill untested geophysical targets, specifically at depth.
About Jaeger Resources Corp.
Jaeger Resources Corp. is a Junior Canadian Exploration Company focused on evaluating high potential, undervalued mineral properties for acquisition, which can be developed to give investors a fair return on investment. Jaeger has entered into an agreement with Stratabound Minerals Corp. (see press release of February 22, 2017) to explore and develop the Taylor Brook zinc – lead – silver deposit in the Bathurst Mining Camp, New Brunswick, Canada. In addition to the Taylor Brook property, other properties of merit have been submitted to Jaeger which needs to be evaluated more thoroughly.
For further company and technical information, please visit the Company’s website at www.jaegerresources.com.
The technical content of this press release has been reviewed and approved by the Company’s CEO, Bruce W. Downing, as the Qualified Person.
On Behalf of the Board,
“Bruce W. Downing”
Bruce W. Downing, M.Sc., P.Geo, FGC, FEC(hon)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or the accuracy of this press release. We seek Safe Harbor.
Not for release in the United States.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements”. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the Taylor Brook Property.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.