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JNR Announces Completion of 2007 Way Lake Exploration Program
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Saskatoon, SK, November 01, 2007 - JNR Resources Inc. (TSXV:JNN) (the
'Company') is pleased to announce the completion of the 2007
exploration program on the Company's 100% owned Way Lake uranium
project, located 55 kilometres east of the Key Lake uranium mine in the
Athabasca Basin of northern Saskatchewan. The Way Lake project
comprises 17 contiguous claims totalling 71,795 hectares.
The 2007 program represents the first significant exploration carried
out on the project lands in over 25 years. It consisted of the
completion of fourteen diamond drill holes totalling 2,467-metres,
accompanied by 120 kilometres of linecutting, Horizontal Loop EM and
ground magnetics, as well as a detailed 700 line-kilometre airborne
VTEM survey over the Hook Lake showing and previously unsurveyed claims
in the southeastern portion of the property. In addition, a major
prospecting campaign carried out over the entire Way Lake project area,
resulted in the discovery of three new zones of anomalous radioactivity
in outcrop (West Way, Nob Hill, and EWA). An orientation bulk till
sampling survey was also completed.
In total, eight holes (WYL-07-01 to -04 and -06 to -09) tested the
vicinity of the Hook Lake showing where surface sampling in 2006
returned up to 48% U3O8 in grab samples; while four holes (WYL-07-05
and -10 to -12) tested a minimum 1.0-kilometre long, geophysically
interpreted lineament located to the northwest of the showing. All
twelve holes intersected significant structural features composed of
brittle fracturing and/or ductile-brittle shearing. Of particular
interest is a broad, roughly 20-metre wide northeast trending
ductile-brittle fault, which correlates with the lineament and occurs
some 80 to 90 metres from the showing. It is thought to represent the
structure that controls the uranium mineralization at Hook Lake. Of the
twelve holes, significant levels of radioactivity were intersected in
three (WYL-07-01, -02 and -05).
Initially, some thirty holes were planned for the Hook Lake area.
Contractor delays and a commitment to drill on an adjoining property
precluded a thorough evaluation of the showing and surrounding area.
This work will be carried out during the coming winter campaign.
The newly discovered West Way occurrence is located approximately 6.5
kilometres due north of the Hook Lake area. Anomalous radioactivity (10
to 400 times background) was identified at the north end of a
1.0-kilometre long ridge of discontinuous outcrops. The uranium
mineralization is vein type and associated with a northeast-trending
shear zone, accompanied by molybdenite-bearing calc-silicate
alteration. Two drill holes (WYL-07-13 and -14) tested the down dip
extent of the mineralized shear zone at shallow depths and confirmed
the presence of a well defined structure.
At Nob Hill, 14 kilometres to the southwest of the Hook Lake area,
prospecting this summer discovered a north-northeast trending granitic
pegmatite cut by cross cutting fractures with zones of elevated
radioactivity ranging from 10 to 500 times background. The
mineralization is vein-type and occurs within dilational zones similar
to those that host the uranium mineralization at Cameco's Eagle Point
uranium mine and at the Beaverlodge and Karpinka Lake deposits.
The newly discovered EWA zone is located approximately 19 kilometres
southwest of Nob Hill proximal to a northeast trending conductive zone
identified by the airborne VTEM survey. The uranium mineralization
occurs within a 10- to 20-metre wide, northeast trending sheared
pelitic unit accompanied by granitic inliers and has been traced over a
minimum strike length of 85 metres. Outcrop samples from this
occurrence returned anomalous radioactivity, ranging from 10 to 300
times background.
Also of interest is that core from four historic holes drilled by AGIP
in the 1970's was located on the property. These holes tested two small
segments of the greater than 60 kilometres of EM conductor identified
by the VTEM survey in the southern portion of the property. The drill
core in all four holes intersected abundant sulphide-rich graphic
pelitic gneisses that exhibited complex structural disruption and
strong clay alteration. These features are common to uranium deposits
in the Athabasca Basin, which bodes well for the potential of these
conductors to host uranium mineralization.
JNR's Director of Exploration, Dr. Irvine R. Annesley, comments: "The
Way Lake project is a phenomenal exploration play. It is seldom in
one's career where one project contains such a variety of geological
model types with the potential for a major discovery. I am especially
excited over the prospects for mineralization within the newly
discovered occurrences, as well as those that have been historically
documented, but never systematically explored".
All of the samples collected during the course of the 2007 exploration
program have been submitted to the Saskatchewan Research Council
Laboratory in Saskatoon for analysis. The results will be released upon
their receipt and final evaluation. Planning for an extensive program
in 2008 is underway.
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
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
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Copyright (c) 2007 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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