Welcome!

News Feed Item

J.A.G. Mines Ltd.: Exploration Work on Conventional Natural Gas and Condensate Deposits in Temiscouata/Update on JAG-OLITRA Activities

MONTREAL, QUEBEC -- (Marketwired) -- 05/06/14 -- J.A.G. MINES LTD (JAG) (TSX VENTURE: JML) and its subsidiary OLITRA Inc. announce that the discovery of natural gas by companies Ressources et Energie Squatex and Petrolympic has been very well received. JAG wishes to publish an update concerning the progress of its exploration work in the Bas-Saint-Laurent region, particularly on its vast Temiscouata property that extends from Riviere Bleue, near the border with Maine, up to the Rimouski reserve, an area of 89,147 hectares (222,868 acres).

Following a thorough exploration campaign lead by geologist Marc R. Lafleche from the Institut national de la recherche scientifique (INRS), JAG has identified on the Temiscouata property three highly abnormal domains of soil gas, characterized by very high concentrations of methane, ethane, propane and butane, and molecular ratios revealing the presence of thermogenic hydrocarbon sources (within rock), probably hosted in the Ordovician and Silurian sedimentary rocks of the region. These units are overlain by the Devonian shale of Temiscouata which forms an impervious barrier. Numerous showings of variably dolomitized reefal limestone, as well as sandstones similar to Gaspe sandstones (ZEC Owen sector), occur and will be investigated by JAG in 2014. Consequently, the Company intends to complete a number of core drill holes similar to those of the mining industry in view of documenting the presence of reservoirs and locate host rock units responsible for hydrocarbon generation. From west to east, priority targets to be investigated through geophysics and drilling are the St-Eusebe and Lake Ango in ZEC Owen sectors, and the vicinity of the wildlife reserve of Rimouski bordering the Squatex-Petrolympic property, host of the conventional natural gas discovery in Bas-Saint-Laurent.

As part of its funded works for gas and oil exploration, JAG should be able to present by June 2014 the initial results of a large-scale pedogeochemical and radiometric study conducted on the whole area of its Pohenegamook property. Said property is located in Bas-Saint-Laurent, west of the Temiscouata property, and encompasses an area of 133,459 hectares (333,648 acres). It is important to note that the Pohenegamook property is in close proximity to the Parke wells site, whose potential for natural gas storage is being evaluated by Intragaz.

In other respects, JAG is pursuing its gold exploration activities on its Belleterre property in Temiscamingue. From October to November 2013 and in March 2014, JAG had a high- resolution gravimetric survey performed in order to refine geometry and relative importance of the main auriferous and intrusive structures located west of the old Belleterre mine. The gravimetric data are added to the new high-resolution audio- magnetotelluric sections executed on the Aubelle, Castor, Village and Boudrias prospects.

From September to November 2013, a team of geologists proceeded to a study and channel sampling from the Boudrias and Village showings and prospected new showings (JAG-1, JAG-2, JAG-3, JAG-4 and JAG-5) that reveal the presence of polymetallic porphyritic mineralisation located in the eastern part of the property. A wide-ranging lithogeochemical study of volcanic, sedimentary and intrusive rocks, as well as iron and chert formations, was completed during the 2013-14 winter. This study strongly suggests the presence of high-temperature volcanogenic hydrothermalism during the orogeny of the Belleterre volcanic rocks. This conclusion implies a strong potential for the discovery of volcanogenic polymetallic massive sulphides.

A mineragraphic study is ongoing at INRS in order to characterize gold distribution in the main zones of auriferous mineralisation on the property. This study aims at providing data on granulometry and degree of gold liberation with the objective of optimizing metallurgical work to be performed on bulk samples that will be gathered in early summer and early fall of 2014, and improving resource estimation models.

The geological portion of this press release was reviewed by Marc Richer-Lafleche, geologist and professor at the Institut de la Recherche Scientifique de Quebec, qualified person as required by NI 43-101, and approved its publication.

ABOUT JAG

J.A.G. Mines Ltd is a public corporation, incorporated in April 1976 under the Canada Business Corporations Act. JAG is engaged in the exploration and development of mining projects, all located in the province of Quebec, aiming at their eventual commercial exploitation. JAG and its subsidiary Olitra are also active in the search for gas and oil in the province of Quebec.

Cautionary Language and Forward-Looking Statements

All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in forward-looking statements.

Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
Unless you don’t use the internet, don’t live in California, or haven’t been paying attention to the recent news… you should be aware that self-driving cars are on their way to becoming a reality. I have seen them – they are real. If you believe in the future reality of self-driving cars, then continue reading on. If you don’t believe in the future possibilities, then I am not sure what to do to convince you other than discuss the very real changes that will roll out with the consumer producti...
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, will show how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningfu...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...