Owner
Post by Franko10 ™ on Sept 11, 2004 12:31:37 GMT -5
Airborne Survey Commenced
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Mr. Dale W. Hoffman, President of JNR Resources Inc., is pleased to announce that an airborne GEOTEM survey has now commenced on the JNR Resources Inc. / Kennecott Canada Exploration Inc. joint venture Moore Lake and Lazy Edward Bay projects.
On the Moore Lake project, some 1400 line kilometres will be flown. This work will be funded entirely by Kennecott which, on October 25th, 2000, confirmed that it would proceed with further exploration and development on the Moore Lake property, to increase its interest in this property to 65%. It can do so by funding the next $10 million in exploration expenditures on the property. This will also give Kennecott the right to earn a 70% interest in the property by expending the next $100 million or by taking the property to production, whichever shall occur first.
Diamond drilling programs carried out this past spring and summer on the Moore Lake project intersected unconformity-type uranium mineralization in a number of holes, with the best result being 0.442 % U3O8 (grade equivalent) over 9.2 metres, from hole ML00-03.
On the Lazy Edward Bay project, approximately 1000 line kilometres will be flown. This property, which is located west of the Key Lake mine, is a 50/50 joint venture between JNR and Kennecott, and will be funded accordingly. A review of the assessment files indicates the presence of a number of prospective targets on this property.
The results of the airborne GEOTEM survey will be incorporated into the 2001 exploration program, which is presently being outlined. The program will include diamond drilling programs on both the Moore Lake and the Lazy Edward Bay projects.
Further information will be released as it becomes available.
If you have any questions about this news release, or for more information, please contact Dale W. Hoffman or Peter D. Herbert at the above-noted numbers.
JNR RESOURCES INC.
Per:
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 W. Hoffman, President of JNR Resources Inc., is pleased to announce that an airborne GEOTEM survey has now commenced on the JNR Resources Inc. / Kennecott Canada Exploration Inc. joint venture Moore Lake and Lazy Edward Bay projects.
On the Moore Lake project, some 1400 line kilometres will be flown. This work will be funded entirely by Kennecott which, on October 25th, 2000, confirmed that it would proceed with further exploration and development on the Moore Lake property, to increase its interest in this property to 65%. It can do so by funding the next $10 million in exploration expenditures on the property. This will also give Kennecott the right to earn a 70% interest in the property by expending the next $100 million or by taking the property to production, whichever shall occur first.
Diamond drilling programs carried out this past spring and summer on the Moore Lake project intersected unconformity-type uranium mineralization in a number of holes, with the best result being 0.442 % U3O8 (grade equivalent) over 9.2 metres, from hole ML00-03.
On the Lazy Edward Bay project, approximately 1000 line kilometres will be flown. This property, which is located west of the Key Lake mine, is a 50/50 joint venture between JNR and Kennecott, and will be funded accordingly. A review of the assessment files indicates the presence of a number of prospective targets on this property.
The results of the airborne GEOTEM survey will be incorporated into the 2001 exploration program, which is presently being outlined. The program will include diamond drilling programs on both the Moore Lake and the Lazy Edward Bay projects.
Further information will be released as it becomes available.
If you have any questions about this news release, or for more information, please contact Dale W. Hoffman or Peter D. Herbert at the above-noted numbers.
JNR RESOURCES INC.
Per:
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.
