JML

J.A.G. Mines Ltd ('JAG') (TSX VENTURE:JML) and its private subsidiary Olitra
Inc. hold ten research permits in the Temiscouata Lake area covering 204,715
hectares. JAG is searching for conventional natural gas reservoirs in the Lower
St-Lawrence region and has developed a comprehensive two Phases research
program, which can be consulted on SEDAR.


The Temiscouata Property is part of the Appalachian Basin (Lower St-Lawrence -
Gaspe) and is mainly covered by sedimentary rocks of the Devonian Temiscouata
Formation which were brought into contact with sedimentary rocks of the
Siluro-Devonian Chaleurs and Ordovician Cabano Groups, along the reverse
Temiscouata Fault. Although the geological context is not as well understood as
it is in the Gaspe Basin, evidences of potential structural traps and reservoir
rocks are shown by the surface geology. Indeed, an ancient reef, likely part of
the Chaleurs Group, was observed by JAG in the Owen ZEC.


Promising results were obtained by JAG with soil gas surveys conducted on the
Property in 2008, 2009 and 2010. Those surveys have allowed detection of some
strong anomalies, showing enriched soil gas components (i.e. methane, ethane,
propane, butane), nearby the towns of St.Eusebe and Packington and in the
northern part of the Owen ZEC, which have made these areas priority targets for
the current and upcoming research program. The anomalies on the Property are
characterized by ethane and methane contents reaching as much as respectively up
to 8,600 ppb and up to 4,000,000 ppb, whereas background values are only 20 ppb
for ethane and 1,000 ppb for methane. 


JAG has also conducted subsurface geophysics, including regional gravimetric and
mobile radiometric surveys as well as local electrical resistivity and induced
polarization surveys on targeted areas. Those surveys have allowed recognition
of contrasting rock domains and an important negative gravimetric anomaly
associated with a magnetic low, suggesting that a thick sequence of low density
sedimentary rocks is present underneath some of the targeted areas.


Research program for the upcoming 2011-2012 year reaches more than $ 500,000 and
includes three deep penetrating geophysical surveys: a CSAMT survey (Controlled
Source Audio Magneto-Tellurics intended to map the crust in the 0 to 2,000 m
depth range), a high power electrical resistivity and induced polarization
survey and a seismic survey. Those surveys will be conducted nearby the town of
St. Eusebe and in the Lake Ango area of the Owen ZEC, where numerous enriched
soil gas anomalies have been located by previous work.


At the end of this sixth year of exploration, JAG will have invested at least 2
million dollars on the Temiscouata Property. JAG and OLITRA are also searching
for oil and natural gas in the Charlevoix and Lac St-Jean regions.


The works are conducted by Marc Richer-LaFleche, geologist and professor at the
Quebec Institut de la Recherche Scientifique. Mr. LaFleche participated in the
writing of this press release and agreed to its publication.

J.A.G. Ltee (Les Mines) (TSXV:JML)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

J.A.G. Ltee (Les Mines) (TSXV:JML)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024