My normal build for Jax jungle after removal of Sated and Rework of Guinsoo's is Bloodrazor ==> Sheen + Stinger ====> Hextech Revolver/Finish Trinty ====> Finish Hextech Gunblade. Ninja Tabi somewhere in there. I like getting Tiamat after then finish a Spirit Visage. Last item, I finish Tiamat into Titanic Hydra.
For runes and masteries it varies. I always take 10% CDR in my masteries now, (9 flat CDR blues and 1 flat CDR quint) so that I get 40% CDR after full build or with Trinity and blue.
I also always take scaling HP yellows because Jax gets a lot of resists from his ult.
For reds and two quints, that depends on my masteries. I either go A.Speed with Fevor or Strength of the Ages, or I go hybrid/armor penetration with Thundlerlords.
If I think I need to be really tanky or can't burst down their team too fast, I go Strength of the Ages. If their team is really tanky, I go Fervor of Battle.
If I want to snowball early, and they have a lot of squishies to burst down, I go Thunderlord's Decree (1 W is two stacks for Thunderlord's, so AA + W = Thunderlord's proc)
http://matchhistory.na.leagueoflegends.com/en/#match-details/NA1/2212741491/51010149?tab=builds Thunderlords Game
http://matchhistory.na.leagueoflegends.com/en/#match-details/NA1/2205567264/51010149?tab=stats Strength of the Ages game
With Strength of the Ages, you might want Vampiric Scepter before a Hextech Revolver
Also, I've played no fervor games recently. If you are going lane Jax, I recommend switching out Bloodrazor for Blade of the Ruined King and going Fervor.