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Post by Franko10 ™ on Feb 18, 2008 9:09:28 GMT -5
JNR Announces Drilling Program on South Fork Uranium Project, Saskatchewan (cnw)
TSXV:JNN
Email: info@jnrresources.com
Website: www.jnrresources.com
SASKATOON, SK, Feb. 12 /CNW/ - JNR Resources Inc. (TSXV:JNN) is pleased to announce that project operator Uranium Power Corp (UPC-TSX.V) has signed a contract with Layne Christensen Drilling, of Aurora CO, to complete an extensive drilling program on the South Fork uranium project located east of the Cypress Hills in southwestern Saskatchewan. The contract calls for the use of two drill rigs; one top head rotary and one percussion hammer.
The South Fork project consists of just over 50,000 hectares with excellent potential to host roll-front uranium deposits, in a geological environment very similar to the prolific Powder River Basin in Wyoming. Such deposits are commonly amenable to in situ leach recovery. Interpretation of a recently completed Fugro TEMPEST airborne EM survey indicates what appear to be well-developed paleochannels in sandstones and shales of the Frenchman and Ravenscrag Formations.
JNR's Director of Exploration, Dr. Irvine R. Annesley comments: "I am very excited by the high quality results from the TEMPEST survey, which clearly indicate several excellent uranium targets over a very large area".
Drilling is planned to commence in mid-late April, 2008. The projected cost of the planned program is $1.3 million.
The area was explored in the late 1970's and early 1980's by Saskatchewan Mining Development Corporation (SMDC), a predecessor company of Cameco Corporation. SMDC carried out regional geochemical and geophysical surveys, followed by reconnaissance drilling programs. These field activities resulted in the identification of several extensive regional redox systems that were never followed up to any great extent. SMDC dropped the project after the 1982 field season due to depressed uranium prices. Reconnaissance-scale drilling by SMDC intersected anomalous uranium concentrations over widespread areas.
UPC can earn up to a 65% interest in the South Fork property by reimbursing JNR for prior expenditures (completed) and by spending $2,500,000 on exploration activities by January 25, 2011.
Dave Billard, P.Geo, Vice President of Exploration for JNR Resources is the Qualified Person responsible for the technical content contained in this release.
ON BEHALF OF THE BOARD
Rick Kusmirski
President & CEO
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS NEWS RELEASE.
%SEDAR: 00003829E
For further information: JNR Resources at (306) 382-2211 or (877) 567-6463
TSXV:JNN
Email: info@jnrresources.com
Website: www.jnrresources.com
SASKATOON, SK, Feb. 12 /CNW/ - JNR Resources Inc. (TSXV:JNN) is pleased to announce that project operator Uranium Power Corp (UPC-TSX.V) has signed a contract with Layne Christensen Drilling, of Aurora CO, to complete an extensive drilling program on the South Fork uranium project located east of the Cypress Hills in southwestern Saskatchewan. The contract calls for the use of two drill rigs; one top head rotary and one percussion hammer.
The South Fork project consists of just over 50,000 hectares with excellent potential to host roll-front uranium deposits, in a geological environment very similar to the prolific Powder River Basin in Wyoming. Such deposits are commonly amenable to in situ leach recovery. Interpretation of a recently completed Fugro TEMPEST airborne EM survey indicates what appear to be well-developed paleochannels in sandstones and shales of the Frenchman and Ravenscrag Formations.
JNR's Director of Exploration, Dr. Irvine R. Annesley comments: "I am very excited by the high quality results from the TEMPEST survey, which clearly indicate several excellent uranium targets over a very large area".
Drilling is planned to commence in mid-late April, 2008. The projected cost of the planned program is $1.3 million.
The area was explored in the late 1970's and early 1980's by Saskatchewan Mining Development Corporation (SMDC), a predecessor company of Cameco Corporation. SMDC carried out regional geochemical and geophysical surveys, followed by reconnaissance drilling programs. These field activities resulted in the identification of several extensive regional redox systems that were never followed up to any great extent. SMDC dropped the project after the 1982 field season due to depressed uranium prices. Reconnaissance-scale drilling by SMDC intersected anomalous uranium concentrations over widespread areas.
UPC can earn up to a 65% interest in the South Fork property by reimbursing JNR for prior expenditures (completed) and by spending $2,500,000 on exploration activities by January 25, 2011.
Dave Billard, P.Geo, Vice President of Exploration for JNR Resources is the Qualified Person responsible for the technical content contained in this release.
ON BEHALF OF THE BOARD
Rick Kusmirski
President & CEO
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS NEWS RELEASE.
%SEDAR: 00003829E
For further information: JNR Resources at (306) 382-2211 or (877) 567-6463
