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Re: News Releases - Friday, December 18, 2009
JNR/Altius Discover Rare Earth Metals and Uranium-Thorium
Mineralization at Topsails
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Saskatoon, SK, December 18, 2009 - JNR Resources Inc. (TSXV:JNN) and
Altius Resources Inc. (the 'Companies') are pleased to report the
discovery of significant amounts of rare earth metals (REE) and
uranium-thorium (U-Th) mineralization on their Topsails project. The
project is a 50/50 alliance between the Companies that was established
to explore for volcanic-hosted uranium deposits in a defined area of
west-central Newfoundland near the former mining community of Buchans.
Reconnaissance prospecting in 2008 identified several anomalous outcrop
areas and large, locally-derived boulder fields with highly variable
U-Th contents and up to 2.50% total rare earth oxides (TREO) plus
anomalous yttrium (Y), zirconium (Zr), and niobium (Nb). A
property-wide exploration program in 2009 further enhanced these
showings and resulted in the discovery of other new prospects.
The Railway U showing, first identified in 2008, is located in the
northern part of the Topsails project. Grab samples returned up to
0.62% U3O8 and lesser variably anomalous amounts of lead (Pb), zinc
(Zn), nickel (Ni), arsenic (As), and copper (Cu). An orientation survey
of soil sampling and geochemistry in 2009 returned encouraging results
and expanded the anomalous area of outcrops, subcrop, and boulders.
The Sheffield Lake South prospect, located north of the Railway U
showing, was also discovered during the 2008 exploration campaign.
Follow-up prospecting and sampling in 2009 returned anomalous lead and
molybdenum (Mo) values (up to 13.9% Pb and 0.55% Mo) from outcrops and
locally derived boulders. The mineralization is hosted mainly by quartz
veins cutting granite, though the granite itself is also mineralized.
This area is also radiometrically and geochemically anomalous, with
outcrop samples returning up to 0.009% U3O8, 0.21% TREO, 0.09% Y, 2.33%
Zr, and 3.3 g/t Ag.
In 2009, regional- to district-scale prospecting, mapping and sampling
were conducted in the southern half of the Topsails property over a
20-km x 35-km area of abundant airborne radiometric anomalies. This
resulted in the discovery of REE-Y-Zr-Nb-Th-U mineralization at the new
Long Range Mountain prospects ("A" and "B"). To date, most of the rare
earth metal mineralization of the Long Range Mountain prospects has
been observed in locally derived granitic pegmatite and rhyolite
boulders, but significant outcrop showings also exist. Prospect A
comprises shear-zone-hosted, fluorite-bearing U-Th-REE mineralization
in outcrop and highly anomalous boulder fields. Grab samples returned
up to 1.40% TREO, 0.35% Y, 1.24% Zr, 0.28% Nb, 0.023% U, 0.154% Th, and
anomalous amounts of other rare metals. Prospect B, located ~10
kilometres northeast of prospect A, is comprised of several small
outcrops and abundant locally-derived boulder fields. Grab samples
returned up to 3.11% TREO, 0.50% Y, 2.38% Zr, 0.18% Nb, 0.019% U,
0.144% Th, and anomalous amounts of other rare metals. North of
prospect A, a large discontinuous outcrop area of fluorite-bearing
peralkaline granites and aplitic dykes also hosts U-Th-REE
mineralization.
The reported TREO grades for the Long Range Mountain prospects are
comparable to grades from Strange Lake (Labrador), Thor Lake (NWT),
Kvanefjeld, (Greenland), and Hoidas Lake (Saskatchewan).
The Companies are very pleased with the overall success of the 2009
exploration program. Dr. Irvine R. Annesley, Director of Exploration
with JNR, finds it significant that the highly anomalous zones of TREO
+ Y + Zr + Nb mineralization are commonly associated with U and/or Th
mineralization, which makes them relatively easy to locate with
airborne and ground radiometric surveys. Dr. Annesley also finds
interesting the high ratio of heavy to light REE from sampling to date,
ranging from 0.08 to 0.47. Heavy REE are rarer and typically more
valuable as a commodity for industrial development.
The 2010 exploration program will consist of several geophysical and
soil geochemistry surveys, additional regional prospecting, rock
sampling, and detailed mapping in the area of the highly mineralized
Long Range Mountain, Sheffield Lake South, and Railway U prospects, and
a comprehensive, property-wide airborne hyper-spectral survey. Timing
of follow-up diamond drilling programs will be dependant upon the
results.
JNR is led by a highly experienced management team with proven
discovery success in uranium exploration. In addition to its projects
in Newfoundland, the Company has an interest in fourteen properties
totalling some 345,430 hectares of highly prospective ground in the
renowned Athabasca Basin of northern Saskatchewan.
JNR's Vice-President of Exploration, David L. Billard, PGeo, is the
qualified person responsible for the technical data presented in this
release. All technical information for the Company's Topsails project
is obtained and reported under a formal quality assurance and quality
control program, details of which are presented on the Company's
website at: www.jnrresources.com/i/pdf/JNR-QAQC-TS.pdf. A glossary of
the technical terms included in this release can be found on the
Company's website at: www.jnrresources.com/s/Glossary.asp.
ON BEHALF OF THE BOARD
Rick Kusmirski
President & CEO
For further information contact JNR Resources at 306.382.2211 or
877.567.6463
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 accuracy of this news
release. Statements contained in this news release that are
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Such risks and other factors
include, among others, risks related to the accessibility to the
property; operational risks; weather; availability of equipment and
personnel; changes in project parameters as plans continue to be
refined; delays in obtaining governmental approvals; delays or failure
in obtaining financing on acceptable terms. Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements.
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Copyright (c) 2009 JNR RESOURCES INC. (JNN-TSXV) All rights reserved.
For more information visit our website at http://www.jnrresources.com/
or send mailto:info@jnrresources.com
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
JNR est une société d’exploration minière d'argent et d'or basée au Canada. JNR détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont BELL LAKE, PENDLETON LAKE, KELIC LAKE, NORTH WEDGE, SOUTH DUFFERIN, SNOWBIRD PROPERTY, YURCHISON LAKE, TOPSAILS, SOUTH FORK, CRACKINGSTONE, MOORE LAKE, ROCKY BROOK, SOUTH CIGAR, LAZY EDWARD BAY, WAY LAKE, BLACK LAKE PROPERTY et NEWNHAM au Canada. JNR est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 4,7 millions (4,7 millions US$, 3,5 millions €). La valeur de son action a atteint son plus bas niveau récent le 31 décembre 2003 à 0,03 , et son plus haut niveau récent le 31 décembre 2007 à 4,50 . JNR possède 47 442 200 actions en circulation. |