July 26, 2021
Jaeger Resources Corp. – July 26, 2021 (TSX – V: JAEG) is pleased to announce preliminary results and interpretations of a petrographic study on selected samples of drill core from the Taylor Brook Property in New Brunswick. This is in conjunction with the lithogeochemical – geometallurgical study as reported in the September 15, 2020 news release.
Historic drill logs were reviewed for the purpose of identifying an iron formation unit that could be used to compare with known iron formations within the Bathurst Mining Camp which are associated with various deposits. Two drill holes were selected from the 1996 drilling program. The drill core is stored at the New Brunswick Madran core storage facility and is easily accessible.
Interpreted exhalite sections have been identified which form part of the mineralized sections and have been reported previously associated with the Taylor Brook deposit (see February 26, 2020 news release).
This study identified the core samples as being a possible iron formation-like unit (IF) from the presence of magnetite ranging from 15% in one drill hole to 5% in the other. Chalcopyrite was also identified as rare inclusions in magnetite in one drill hole. Carbonate up to 10% is also present with 3 to 5% quartz. Apatite and rutile occur as trace accessories. This iron formation unit is a sericitic – chloritic foliated intermediate/mafic meta lapilli tuff. Magnetite has not been identified (to date) in the zinc – lead – silver – copper mineralized sections. This IF may be unique to the Taylor Brook deposit and not part of the iron formation stratigraphy associated with other deposits but is significant as it overlies massive to semi-massive sulfide sections.
The IF has not been located in outcrops on the property to date. This may be due to weathering though this unit could be detected by a ground-based magnetometer survey. This IF has been reported in other drill logs and can be used as a marker horizon.
The samples were analyzed at the ActLabs laboratory in Ancaster, Ontario. The major oxides were analyzed using the WRA+ICP 4Litho package which employs a lithium metaborate / tetraborate fusion. The resulting molten bead is rapidly digested in a weak nitric acid solution. Analysis is by ICP-OES and ICP-MS.
Barium concentrations in the IF are low (<1000 ppm) compared to the significant barium concentrations (>2000 ppm) in the exhalite – mineralized sections. The Fe / Mn ratio is elevated in the IF relative to the surrounding lithologies.
Additional sampling of drill core and outcrops over the property for further lithogeochemical and geometallurgical work (including petrographic) is ongoing.
The thin section preparation was carried out by Vancouver Petrographics (Fort Langley, BC) and the petrographic report was prepared by Dr. Craig Leitch, (Saltspring Island, BC).
Petrographic studies indicate the presence of similar rock types and mineralization to that of the Stratmat Deposit which is six km west of the Taylor Brook Deposit. Indium maybe used to define different ore horizons and occurs in concentrations that warrant potential resource valuations that have been identified at the Brunswick 12 and Heath Steele Deposits. There are also indium concentrations of comparable resource potential at the Stratmat Deposit. Mineralization at Taylor Brook is part of a large district-wide system, albeit structurally divided.
This study provided additional information on the lithologies and types of alteration associated with various property structures and mineralized intercepts of economic interest as well as to compare these to known deposits in the Bathurst Mining Camp.
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 an attractive 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 – copper deposit in the Bathurst Mining Camp, New Brunswick, Canada.
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)
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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.