August 8, 2020
Edmonton, AB – August 6, 2020 – Jaeger Resources Corp. (the “Company”) (TSXV:JAEG) is pleased to provide an update to the Company’s exploration plans for its Taylor Brook zinc – lead – silver – copper property. Please see press releases of January 6 & 14 and February 26, 2020 for updates of the geophysical and lithogeochemical surveys and acquisition of claims resulting from the 2019 exploration program.
As a result of the recent geophysical surveys, lithogeochemical study and data compilation that have been carried out, a newer interpretation of the geology of the Taylor Brook Property is evolving. Further exploration is warranted, as the property has not been systematically explored and delineated laterally to the east or west, nor to depth as the property has had very limited exploration. This property appears to have several mineralized horizons and is folded with faulted offsets. These may be stacked horizons due to different lithostratigraphic horizons or stacked due to structural deformation. The property has the right host rocks, evidence of a mineralized system and potential for scale.
Additional claims were staked in 2019 and 2020 to cover the open and under-explored ground between the Taylor Brook Property and the Stratmat Deposit. This area has the potential for the discovery of new mineralized zones and has not been explored since 1996-7.
Exploration will consist of approximately 40 km of new grid over the western area of the property, VLF, Magnetometer and HLEM geophysical surveys and geological and outcrop mapping and sampling for the continuing lithogeochemical survey. New and untested anomalous areas will need to be drilled. Diamond drilling is also warranted to upgrade the Taylor Brook Property. An updated NI 43-101 technical report is anticipated in 2021 upon completion of the 2020 exploration program.
Jaeger Resources also announces it is the recipient of a New Brunswick Junior Mining Assistance Program grant for the Taylor Brook zinc – lead – silver – copper property in New Brunswick which will be used for the exploration program. This grant implies the importance of exploration to the government and communities of New Brunswick and interest in supporting Jaeger Resources.
Jaeger has also received the work permit for the exploration program on the property. Line cutting for the grid extension has begun which will be followed by the magnetometer and VLF geophysical surveys.
The onset of the Covid-19 pandemic and dry weather have limited access to the property, however, data analysis, targeting and planning have continued. We have structured the early portions of this work program so that they can be carried out within the provincial regulatory requirements of the Covid-19 pandemic.
Management at Jaeger Resources has an open-minded approach of creating and using new ideas and techniques for exploration and development.
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. to explore and develop the Taylor Brook zinc – lead – silver – copper property 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)
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
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 Annual Filings.
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.