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Re: News Releases - Friday, February 20, 2009
JNR Announces Drilling Program Underway at Way Lake Uranium
Project
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Saskatoon, SK, February 20, 2009 - JNR Resources Inc. (TSXV:JNN) (the
'Company') is pleased to announce that a winter diamond drilling
program is underway 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 planned drilling program comprises some 3,500 metres (20 to 25
holes) and will focus on widespread outcrops of uranium mineralization
referred to as the Fraser Lakes uranium showings (Fraser Lakes A and B
zones). These mineralized zones are proximal to a 5-kilometre-long,
folded EM conductor comprised of Wollaston Group graphitic pelitic
gneisses and uraniferous granitic pegmatites. They were identified by
ground prospecting of airborne geophysical targets during the summer of
2008.
The B zone showings occur along the northern extent of this folded
conductor and are currently the more prospective of the two mineralized
zones. Nearly 70 individual mineralized outcrop sites were identified
over a 500-metre-wide by 1.5-kilometre-long area. Over 70% of the grab
samples taken from these sites assayed from 0.03 to 0.457% U3O8.
The B zone was tested by three drill holes (WYL-08-524 to 526) at the
end of the 2008 program. Although they could not test the optimum
target, namely the graphitic pelite/pegmatite contact that occurs
beneath muskeg, all three intersected uranium and thorium
mineralization, accompanied by rare-earth element enrichment and
anomalous levels of pathfinder elements. The best results were from
hole 525 which intersected numerous uraniferous intervals. Of
particular note was a 12.0-metre intersection from 77.50 to 89.50
metres down hole that returned 0.081% U3O8; including a 3.0-metre
intercept of 0.193% U3O8 (true widths cannot be reliably estimated at
this time).
The A zone showings occur in a second fold nose at the southern end of
the conductor. Seven holes (WYL-08-508 to 514) were drilled in this
area, three of which intersected broad zones of significantly altered
and structurally disrupted graphitic pelitic gneisses accompanied by
anomalous levels of pathfinder elements, particularly copper, nickel,
vanadium, bismuth and zinc. Outcrop samples in the area contained up to
0.042% U3O8.
Dr. Irvine Annesley, Director of Exploration for JNR reiterates: "The
Fraser Lakes district has numerous similarities to nearby
basement-hosted uranium deposits, such as Eagle Point and Millennium,
and the presence of previously unrecognized uranium mineralization over
such a large area speaks to the high potential for a significant
discovery".
Major zones of structural disruption accompanied by alteration and weak
to moderate levels of radioactivity were identified in all of the other
areas targeted by the 2008 drilling program, including the previously
discovered EWA, West Way, Nob Hill and Hook Lake showings, and the
Walker Lake conductive trend. The final analytical results from these
holes are expected in the next few days and will be reported on once
they have been received and interpreted.
JNR's Vice-President of Exploration, David L. Billard, PGeo, is the
qualified person responsible for the technical data presented in this
release. Samples were analysed at the Saskatchewan Research Council
Laboratory in Saskatoon. 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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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. |