Owner
Post by Franko10 ™ on Sept 11, 2004 12:26:40 GMT -5
Moore Lake Project - Drilling Update
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Mr. Dale Hoffman, President of JNR Resources Inc.(the"Company"), is pleased to report the intersection of additional uranium mineralization, on the JNR/Kennecott Canada Joint Venture Moore Lake project.
Diamond drill hole ML00-08 returned anomalous radioactivity from a fractured and altered pegmatite located some 60 metres beneath the Athabasca unconformity. The downhole radiometrics indicate a grade equivalent of 0.067 % U308 over 5.6 metres, from the interval 319.35 m to 324.95 m. The unconformity occurs at 263.5 m. Hole ML00-08 was the third hole of the current program and is interpreted as a hanging wall hole. It intersected a moderately to strongly bleached sandstone column with intermittent sub vertical fracturing. A follow-up hole, to test the mineralization at the unconformity, is planned. Hole ML00-08 was collared 400 metres to the west of the previously reported unconformity-type uranium mineralization intersected in ML00-03 (0.442 % U308 over 9.2 m). Drill holes ML00-06 and ML00-07 were collared 20 metres north and south of hole ML00-03, respectively. Both holes intersected a strongly altered and silicified sandstone column, significant structural disruption and considerable hydrothermal alteration of the basement lithologies. It was not totally unexpected that neither hole encountered higher grades of uranium mineralization, as uranium deposits in the Athabasca Basin are notoriously narrow, commonly averaging less than 20 metres in width. Drill holes ML00-06 and ML00-07 did, however, confirm the presence of a major reactivated fault zone and extensive hydrothermal activity, two key ingredients to the formation of large uranium deposits.
The Company is pleased with the results to date. The intersection of significant uranium mineralization, in only the third hole drilled, bodes well when compared with the case histories of other deposits in the Athabasca Basin.
The drilling program is ongoing. Drill core samples are being sent to the Saskatchewan Research Council for geochemical analysis and the results will be released when they are received.
Dale W. Hoffman,
President
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release.
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Mr. Dale Hoffman, President of JNR Resources Inc.(the"Company"), is pleased to report the intersection of additional uranium mineralization, on the JNR/Kennecott Canada Joint Venture Moore Lake project.
Diamond drill hole ML00-08 returned anomalous radioactivity from a fractured and altered pegmatite located some 60 metres beneath the Athabasca unconformity. The downhole radiometrics indicate a grade equivalent of 0.067 % U308 over 5.6 metres, from the interval 319.35 m to 324.95 m. The unconformity occurs at 263.5 m. Hole ML00-08 was the third hole of the current program and is interpreted as a hanging wall hole. It intersected a moderately to strongly bleached sandstone column with intermittent sub vertical fracturing. A follow-up hole, to test the mineralization at the unconformity, is planned. Hole ML00-08 was collared 400 metres to the west of the previously reported unconformity-type uranium mineralization intersected in ML00-03 (0.442 % U308 over 9.2 m). Drill holes ML00-06 and ML00-07 were collared 20 metres north and south of hole ML00-03, respectively. Both holes intersected a strongly altered and silicified sandstone column, significant structural disruption and considerable hydrothermal alteration of the basement lithologies. It was not totally unexpected that neither hole encountered higher grades of uranium mineralization, as uranium deposits in the Athabasca Basin are notoriously narrow, commonly averaging less than 20 metres in width. Drill holes ML00-06 and ML00-07 did, however, confirm the presence of a major reactivated fault zone and extensive hydrothermal activity, two key ingredients to the formation of large uranium deposits.
The Company is pleased with the results to date. The intersection of significant uranium mineralization, in only the third hole drilled, bodes well when compared with the case histories of other deposits in the Athabasca Basin.
The drilling program is ongoing. Drill core samples are being sent to the Saskatchewan Research Council for geochemical analysis and the results will be released when they are received.
Dale W. Hoffman,
President
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release.
