Owner
Post by Franko10 ™ on Sept 11, 2004 12:07:34 GMT -5
Uranium Prices On Steady Climb
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Mr. Dale Hoffman, President of JNR Resources Inc. (the "Company") is pleased to announce preliminary results from the clay alteration study carried out on Saskatchewan uranium properties. This study was carried out to detect alteration halos which are present around all uranium deposits in the Athabasca Basin of Saskatchewan. A report has been recently completed by Dr. Steven Earle of Grasswood Geoscience Ltd. who states: "There are significant anomalies in several of the study areas. In the Perch River and Cyprian Lake areas, there is chloritization of the sandstone and strong enrichment of lead and uranium.
There is pronounced illitization in three samples from the eastern side of Black Lake, and there are some moderate illite, lead and uranium anomalies in the central part of the West Bear property. In the other study areas, the distribution of outcrop samples is too sparse to provide any definitive exploration information." These results are very encouraging in that the alteration detected are the types commonly found in the alteration halos found around the uranium deposits in the Athabasca Basin.
A winter drilling program will be carried out on previously defined targets on the Cyprian Lake, the Black Lake and the West Bear properties as soon as ground conditions permit. The Cyprian Lake property has soil samples running 1.4% uranium and an all weather road providing access to the property is under construction. Although only a few samples were collected from the other properties, a number of anomalous values were detected.
This information combined with other technical information on the properties points towards further exciting targets. The Company presently holds a 100% interest in approximately 500,000 highly prospective acres in the Athabasca Basin. Further ground is being acquired by staking to cover identified targets. The Company is very encouraged with recent developments in the spot price of uranium. After bottoming at US$10.30, the price has risen for four consecutive weeks to the present price of $11.25.
JNR RESOURCES INC.
Dale W. Hoffman, President
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of the content of this News Release.
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Mr. Dale Hoffman, President of JNR Resources Inc. (the "Company") is pleased to announce preliminary results from the clay alteration study carried out on Saskatchewan uranium properties. This study was carried out to detect alteration halos which are present around all uranium deposits in the Athabasca Basin of Saskatchewan. A report has been recently completed by Dr. Steven Earle of Grasswood Geoscience Ltd. who states: "There are significant anomalies in several of the study areas. In the Perch River and Cyprian Lake areas, there is chloritization of the sandstone and strong enrichment of lead and uranium.
There is pronounced illitization in three samples from the eastern side of Black Lake, and there are some moderate illite, lead and uranium anomalies in the central part of the West Bear property. In the other study areas, the distribution of outcrop samples is too sparse to provide any definitive exploration information." These results are very encouraging in that the alteration detected are the types commonly found in the alteration halos found around the uranium deposits in the Athabasca Basin.
A winter drilling program will be carried out on previously defined targets on the Cyprian Lake, the Black Lake and the West Bear properties as soon as ground conditions permit. The Cyprian Lake property has soil samples running 1.4% uranium and an all weather road providing access to the property is under construction. Although only a few samples were collected from the other properties, a number of anomalous values were detected.
This information combined with other technical information on the properties points towards further exciting targets. The Company presently holds a 100% interest in approximately 500,000 highly prospective acres in the Athabasca Basin. Further ground is being acquired by staking to cover identified targets. The Company is very encouraged with recent developments in the spot price of uranium. After bottoming at US$10.30, the price has risen for four consecutive weeks to the present price of $11.25.
JNR RESOURCES INC.
Dale W. Hoffman, President
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of the content of this News Release.
