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Re: News Releases - Monday, November 30, 2009
JNR / Altius Discover Cu-Mo-Au-Ag Mineralization at Topsails
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Saskatoon, SK, November 30, 2009 - JNR Resources Inc. (TSXV:JNN) and
Altius Resources Inc. (the 'Companies') are pleased to report the
discovery of a potentially significant copper-molybdenum-gold-silver
prospect (Koorae) 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 on the Topsails project in 2008 resulted in
the discovery of several locally derived sulphide-bearing boulders
approximately 15 kilometres northwest of Buchans. Grab samples from two
of the boulders returned assays of 3.5% Cu, 0.12% Mo, 35.1 g/t Ag, 0.18
g/t Au and 2.0% Cu, 0.16% Mo, 19.8 g/t Ag, 0.29 g/t Au.
Additional exploration including trenching, rock and soil sampling was
completed on the Koorae prospect as part of the larger 2009 program. An
area of approximately 100 metres by 15 metres was excavated, mapped and
sampled. Disseminated copper sulphides and magnetite occur in
chlorite-hematite-altered quartz-feldspar porphyry, which is in fault
contact with felsic volcanic rocks containing veinlet and
breccia-matrix chalcopyrite with lesser bornite and chalcocite.
Of twenty-three grab samples randomly collected from the
quartz-feldspar porphyry, twenty-one returned anomalous values of up to
0.87% copper, with an average of 0.15% copper. Sampling of adjacent,
strongly altered felsic volcanic rocks returned a best in-situ result
of 0.39% Cu, 0.04% Mo and 0.9 g/t Ag, while a grab sample from locally
derived float returned 3.7% Cu, 0.1% Mo, 53.3 g/t Ag and 0.24 g/t Au.
Furthermore, a rhyolite flow which was also exposed in the trench
returned 0.67% Cu, 0.03% Mo and 7.4 g/t Ag.
The Koorae prospect bears numerous similarities to the alkalic,
caldera-related group of porphyry copper-gold deposits observed world
wide. Geophysically, the discovery occurs near the southern margin of a
roughly 1,200 by 300 metre, east-northeast trending magnetic low and on
the southeast margin of an isolated K, U, and Th radiometric high of
350-metre diameter size. The Companies are planning to initiate an
induced polarization/resistivity (IP) survey covering the prospect area
before year end.
In addition to the trenching program, extensive prospecting, mapping
and sampling was completed throughout the Topsails project in 2009. Of
particular interest were six separate areas identified during the 2008
program that returned highly anomalous metal geochemistry, including
several new occurrences of uranium with grab samples of up to 0.62%
U3O8. Also of significance were large boulder fields containing
coarse-grained to pegmatoidal granites returning up to 3.06% TREO
(total rare earth oxides) plus yttrium.
Analytical results from the 2009 regional program are just becoming
available and are currently being reviewed and interpreted prior to
release.
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 exploration
projects 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.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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JNR Resources
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EXPLORATEUR |
CODE : JNN.V |
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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 11,5 millions CA$ (11,4 millions US$, 8,4 millions €). La valeur de son action a atteint son plus bas niveau récent le 31 décembre 2003 à 0,03 CA$, et son plus haut niveau récent le 31 décembre 2007 à 4,50 CA$. JNR possède 114 620 000 actions en circulation. |