Owner
Post by Franko10 ™ on Sept 11, 2004 12:34:42 GMT -5
Uranium Properties Update
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Mr. Dale W. Hoffman, President of JNR Resources Inc. (the "Company"), is pleased to announce that field work is underway on the JNR Resources Inc./ Kennecott Canada Exploration Inc. Joint Venture's, Moore Lake and Lazy Edward Bay projects.
These properties are located in the Athabasca Basin in the Province of Saskatchewan, the richest uranium producing region in the world. Although both projects are exploratory in nature, previous drilling and extensive field work leads management to believe that both are highly prospective for a possible economic uranium discovery.
In the Moore Lake area, the exploration program will focus on the Maverick zone and on new targets identified by a recently completed airborne GEOTEM survey. It consists of grid establishment, ground geophysical surveys and a minimum of 2000 metres of diamond drilling. The program is being funded entirely by Kennecott, which elected last fall to increase its interest in the Moore Lake project to 65%. Kennecott may then increase its interest to 70% by spending an additional $100 million, or by taking the property to production. Diamond drilling programs carried out on the project in the year 2000 intersected unconformity-type uranium mineralization in a number of holes, the best result being 0.442 % U3O8 (grade equivalent) over 9.2 metres from hole ML00-03.
In the Lazy Edward Bay area, the exploration program will focus on a number of prospective targets that were identified from a review of historic work, as well as targets identified by the recently completed GEOTEM survey. This program, which is being funded equally by the Company and Kennecott, consists of grid establishment, ground geophysical surveys and a minimum of 1500 metres of diamond drilling.
JNR Resources Inc. and Kennecott have several other exploration properties located within the Athabasca Basin with future exploration programs being outlined. Recent financings will enable the Company to meet all of its current commitments , and management is very encouraged by the programs being planned for this year.
The drilling programs will commence in the middle of February, with results being reported as they become available.
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. (the "Company"), is pleased to announce that field work is underway on the JNR Resources Inc./ Kennecott Canada Exploration Inc. Joint Venture's, Moore Lake and Lazy Edward Bay projects.
These properties are located in the Athabasca Basin in the Province of Saskatchewan, the richest uranium producing region in the world. Although both projects are exploratory in nature, previous drilling and extensive field work leads management to believe that both are highly prospective for a possible economic uranium discovery.
In the Moore Lake area, the exploration program will focus on the Maverick zone and on new targets identified by a recently completed airborne GEOTEM survey. It consists of grid establishment, ground geophysical surveys and a minimum of 2000 metres of diamond drilling. The program is being funded entirely by Kennecott, which elected last fall to increase its interest in the Moore Lake project to 65%. Kennecott may then increase its interest to 70% by spending an additional $100 million, or by taking the property to production. Diamond drilling programs carried out on the project in the year 2000 intersected unconformity-type uranium mineralization in a number of holes, the best result being 0.442 % U3O8 (grade equivalent) over 9.2 metres from hole ML00-03.
In the Lazy Edward Bay area, the exploration program will focus on a number of prospective targets that were identified from a review of historic work, as well as targets identified by the recently completed GEOTEM survey. This program, which is being funded equally by the Company and Kennecott, consists of grid establishment, ground geophysical surveys and a minimum of 1500 metres of diamond drilling.
JNR Resources Inc. and Kennecott have several other exploration properties located within the Athabasca Basin with future exploration programs being outlined. Recent financings will enable the Company to meet all of its current commitments , and management is very encouraged by the programs being planned for this year.
The drilling programs will commence in the middle of February, with results being reported as they become available.
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.
