January 7, 2020
JAEGER RESOURCES CORP. ANNOUNCES COMPLETION OF MAGNETOMETER AND VLF-EM GEOPHYSICAL SURVEY EXPLORATION PROGRAM AT ITS TAYLOR BROOK ZINC – LEAD – COPPER – SILVER PROPERTY IN NEW BRUNSWICK
Jaeger Resources Corp. (TSX – V: JAEG) is pleased to announce the completion of the magnetometer and very low frequency electromagnetic (VLF) geophysical survey over the property which encompasses a relatively unexplored section of the Taylor Brook Property in New Brunswick. This entailed follow up from previous VLF and magnetometer surveys (see press releases dated February 26 and June 20, 2019). Results of the previous surveys necessitated 33 kms of additional line cutting followed up with magnetometer and VLF geophysical surveys.
The purpose of these surveys was to map areas of known mineralization and areas that have not been previously explored, specifically in the western and southern areas of the property. The magnetometer survey was conducted in order to map the gabbro/diabase and delineate other magnetic anomalous areas that could be associated with mineralization. The VLF survey was conducted in order to delineate potential conductive zones of mineralization and to map potential structural features that are associated with mineralization. These types of surveys are best known for locating mineralization in the Bathurst Mining Camp.
New and untested magnetometer and VLF anomalies have been delineated over the property and have the potential for discovering new and additional zinc – lead – copper – silver zones at Taylor Brook. This style of geophysical characteristics appears similar to the Stratmat deposit located approximately six kms to the southwest of Taylor Brook. Coloured magnetometer and Fraser Filter contour maps can be viewed on the Company website, as well as non-coloured maps with indicated diamond drill holes. (www.jaegerresources.com).
Results from the recently completed survey indicate additional line cutting and geophysical surveys are warranted, which will be carried out in 2020. These new and untested anomalous areas need to be drilled, which will be the focus of the exploration program in 2020.
In addition to drilling these areas, a major part of the drilling program will be to follow up on the known deposit to extend the limits both along strike and at depth. The Taylor Brook deposit is classified as a polymetallic volcanogenic massive sulphide (“VMS”) deposit typical of the Bathurst Mining Camp with a (historical 2011) NI 43-101 compliant indicated mineral resource of 243,000 tonnes at 1.69% zinc, 0.85% lead, 0.02% copper and 33.42 g/tonne silver and an inferred resource of 102,000 tonnes at 1.70% zinc, 0.87% lead, 0.02% copper and 32.59 g/tonne silver at a 1.60% zinc equivalent cut-off grade. The deposit is comprised of one to four stratabound horizons of heavily disseminated to semi-massive and massive sulphides with a strike length of approximately 650 metres and a down-dip extent of greater than 600 metres.
No major drilling has been conducted on the Taylor Brook Property since 1996 and the Company believes that the majority of the previous 1995/1996 drilling may have been in the wrong direction. As a result of the recent geophysical surveys and data compilation that have been carried out, a newer interpretation of the geology of the deposit is evolving.
A favourable geological setting together with results of the work done to date show that the property has the potential for additional drill untested geophysical targets.
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 – copper – silver 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) CEO Email: info@jaegerresources.com
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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.