Owner
Post by Franko10 ™ on Sept 11, 2004 12:18:50 GMT -5
Athabasca Basin Uranium Properties Update
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Mr. Dale W. Hoffman, President of JNR Resources Inc. ("the Company"), is pleased to announce that work on the Company's Athabasca Basin uranium properties is progressing well.
Following is an update regarding a number of the properties held by the Company:
Russell Lake
Infill sandstone boulder sampling and ground IP resistivity were completed across the Russell Lake uranium-in-sandstone boulder anomaly. Final geochemistry results are awaited. Resistivity / chargeability data revealed a suite of structures interpreted to penetrate the sandstone sequence in the vicinity of the boulder anomaly. Historic drill core found in old drill camps on Russell Lake were sampled and will be submitted for geochemistry. Drilling of these targets will be delayed until ground follow-up work on the other properties is complete. This will allow follow up drilling of the "best targets" in the later part of 1999.
West Bear
Four targets were selected for follow-up on the West Bear claim group - two of high priority and two of moderate priority. All targets will have first pass follow-up work conducted within the next 2 weeks.
Fisher River Target - high priority
A prominent structure with in excess of 50m vertical displacement is interpreted to be the source of a strong illite in sandstone boulder anomaly and the cause of intense bleaching and fracturing of rocks intersected in historic drill holes in the area. A fixed-wing airborne magnetic survey will be flown within the next 2 weeks to better define the trace of this feature prior to ground follow-up.
Mitchell Lake Target - high priority
The West Bear deposit lies at the eastern end of a GEOTEM conductor that trends over 5km and terminates at a historic drill hole that reported over 600ppm U in basement metasediments. The conductor is interpreted to be an alteration system in the Athabasca Sandstone. A grid is currently being established for follow-up Max-Min surveying and drilling.
Field prospecting and infill boulder sampling will be completed on the two other moderate priority targets, both of which are sandstone boulder anomalies. Work on these targets will be completed within the next 2 weeks.
Poplar Point
A compilation of historic data over the Poplar Point claims has revealed a suite of strong north-south striking basement-hosted conductors which coincide with anomalous uranium-in-sandstone boulders collected by the Company in 1998. Further data are being compiled prior to ground follow-up.
Further information will be provided as the exploration programs progress.
JNR RESOURCES INC.
Per: Dale W. Hoffman, President
The Athabasca basin in northern Saskatchewan is recognized as the most prospective uranium mining district in the world. JNR believes that its uranium prospect properties in this basin potentially host world class deposits. JNR's strategic partner, Kennecott Canada Exploration Inc. is a wholly-owned subsidiary of Rio Tinto PLC, the largest mining company in the world and a major producer of uranium.
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 W. Hoffman, President of JNR Resources Inc. ("the Company"), is pleased to announce that work on the Company's Athabasca Basin uranium properties is progressing well.
Following is an update regarding a number of the properties held by the Company:
Russell Lake
Infill sandstone boulder sampling and ground IP resistivity were completed across the Russell Lake uranium-in-sandstone boulder anomaly. Final geochemistry results are awaited. Resistivity / chargeability data revealed a suite of structures interpreted to penetrate the sandstone sequence in the vicinity of the boulder anomaly. Historic drill core found in old drill camps on Russell Lake were sampled and will be submitted for geochemistry. Drilling of these targets will be delayed until ground follow-up work on the other properties is complete. This will allow follow up drilling of the "best targets" in the later part of 1999.
West Bear
Four targets were selected for follow-up on the West Bear claim group - two of high priority and two of moderate priority. All targets will have first pass follow-up work conducted within the next 2 weeks.
Fisher River Target - high priority
A prominent structure with in excess of 50m vertical displacement is interpreted to be the source of a strong illite in sandstone boulder anomaly and the cause of intense bleaching and fracturing of rocks intersected in historic drill holes in the area. A fixed-wing airborne magnetic survey will be flown within the next 2 weeks to better define the trace of this feature prior to ground follow-up.
Mitchell Lake Target - high priority
The West Bear deposit lies at the eastern end of a GEOTEM conductor that trends over 5km and terminates at a historic drill hole that reported over 600ppm U in basement metasediments. The conductor is interpreted to be an alteration system in the Athabasca Sandstone. A grid is currently being established for follow-up Max-Min surveying and drilling.
Field prospecting and infill boulder sampling will be completed on the two other moderate priority targets, both of which are sandstone boulder anomalies. Work on these targets will be completed within the next 2 weeks.
Poplar Point
A compilation of historic data over the Poplar Point claims has revealed a suite of strong north-south striking basement-hosted conductors which coincide with anomalous uranium-in-sandstone boulders collected by the Company in 1998. Further data are being compiled prior to ground follow-up.
Further information will be provided as the exploration programs progress.
JNR RESOURCES INC.
Per: Dale W. Hoffman, President
The Athabasca basin in northern Saskatchewan is recognized as the most prospective uranium mining district in the world. JNR believes that its uranium prospect properties in this basin potentially host world class deposits. JNR's strategic partner, Kennecott Canada Exploration Inc. is a wholly-owned subsidiary of Rio Tinto PLC, the largest mining company in the world and a major producer of uranium.
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of the content of this News Release.
