Post by Franko10 ™ on Sept 11, 2004 12:41:29 GMT -5
Winter Drilling Program Results
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VANCOUVER, B.C. JNR Resources Inc. ("JNR") is pleased to announce the geochemical results from the 2001 winter drilling programs on the JNR / Kennecott Canada Exploration Inc. joint venture Moore Lake and Lazy Edward Bay Projects.
On the Moore Lake project, the geochemical results have confirmed the significance of this winter's drilling on the Puka Puka, MLE and Venice Grids. Hole ML-15 was drilled on the Puka Puka Grid. It intersected a strongly disrupted and altered sandstone column with strongly graphitic basement rocks. The geochemistry indicates anomalous levels of uranium, nickel and cobalt, and a prospective kaolinite/illite clay signature throughout much of the sandstone column. The basement rocks returned highly anomalous boron values (up to 4280 ppm). These boron values are similar to or exceed those obtained from mineralized holes at the Maverick Zone, which is located 8 km to the southwest. The presence of anomalous levels of pathfinder elements and the prospective clay signature, coupled with the encouraging geology, indicates that the processes required for the formation of an unconformity-type uranium deposit, have occurred in the Puka Puka area.
ML-18 and ML-19, were drilled on the MLE and Venice grids respectively. Both holes intersected anomalous radioactivity in faulted felsic intrusives well into the basement. This has been substantiated by the geochemistry, which not only indicates anomalous uranium throughout the radioactive intervals of both holes, but also anomalous to highly anomalous levels of nickel, lead, copper, vanadium and boron. In ML-18, the best result was 0.027 % U3 O8 /0.4 metres, while a 5.4 metre interval from ML-19 returned 0.021% U3 O8 . An additional 0.2 metre interval returned 0.094 % U3 O8 . The sandstone column in ML-19 was largely illitic with the basal portion returning anomalous uranium and nickel values, all of which are suggestive of uranium bearing hydrothermal fluids in the area. The geochemical results and geological setting of both holes, suggests that there is a good potential of intersecting significant uranium mineralization in the up-dip direction, at the unconformity.
On the Lazy Edward Bay project, the best geochemical results were obtained over a 2 km strike length of the Horse Conductor, where positive geological features had been noted in six holes (LE-01, -03, -04, -06, -07 & -8). Elevated to anomalous levels of pathfinder elements such as nickel, lead, copper, vanadium, cobalt and boron occur in the basement rocks of these holes. Of special note are highly anomalous zinc values (up to 0.62%) in drill hole LE- 01. The clay geochemistry along the Horse Conductor is typically mixed kaolinite/illite, a signature commonly associated with uranium mineralization in the Key Lake area. These geological and geochemical features are considered favourable for the development of uranium mineralization along the Horse Conductor.
JNR is currently evaluating and compiling data on the joint venture's Hook Lake Project in preparation for field programs later this year and is aggressively pursuing additional uranium exploration opportunities. The company is encouraged by the resurgence in the nuclear energy industry and, while continuing to maintain its focus on uranium exploration, JNR is also actively seeking high value deposits of rare earth elements, platinoids and gold, when deemed fiscally and logistically prudent. This is illustrated by the company's recent acquisition and farm-out of the Greywacke gold deposit in the La Ronge greenstone belt of Saskatchewan.
On Behalf of the Board of Directors of
JNR RESOURCES INC.
Per:
"R. T. Kusmirski"
Rick Kusmirski, 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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VANCOUVER, B.C. JNR Resources Inc. ("JNR") is pleased to announce the geochemical results from the 2001 winter drilling programs on the JNR / Kennecott Canada Exploration Inc. joint venture Moore Lake and Lazy Edward Bay Projects.
On the Moore Lake project, the geochemical results have confirmed the significance of this winter's drilling on the Puka Puka, MLE and Venice Grids. Hole ML-15 was drilled on the Puka Puka Grid. It intersected a strongly disrupted and altered sandstone column with strongly graphitic basement rocks. The geochemistry indicates anomalous levels of uranium, nickel and cobalt, and a prospective kaolinite/illite clay signature throughout much of the sandstone column. The basement rocks returned highly anomalous boron values (up to 4280 ppm). These boron values are similar to or exceed those obtained from mineralized holes at the Maverick Zone, which is located 8 km to the southwest. The presence of anomalous levels of pathfinder elements and the prospective clay signature, coupled with the encouraging geology, indicates that the processes required for the formation of an unconformity-type uranium deposit, have occurred in the Puka Puka area.
ML-18 and ML-19, were drilled on the MLE and Venice grids respectively. Both holes intersected anomalous radioactivity in faulted felsic intrusives well into the basement. This has been substantiated by the geochemistry, which not only indicates anomalous uranium throughout the radioactive intervals of both holes, but also anomalous to highly anomalous levels of nickel, lead, copper, vanadium and boron. In ML-18, the best result was 0.027 % U3 O8 /0.4 metres, while a 5.4 metre interval from ML-19 returned 0.021% U3 O8 . An additional 0.2 metre interval returned 0.094 % U3 O8 . The sandstone column in ML-19 was largely illitic with the basal portion returning anomalous uranium and nickel values, all of which are suggestive of uranium bearing hydrothermal fluids in the area. The geochemical results and geological setting of both holes, suggests that there is a good potential of intersecting significant uranium mineralization in the up-dip direction, at the unconformity.
On the Lazy Edward Bay project, the best geochemical results were obtained over a 2 km strike length of the Horse Conductor, where positive geological features had been noted in six holes (LE-01, -03, -04, -06, -07 & -8). Elevated to anomalous levels of pathfinder elements such as nickel, lead, copper, vanadium, cobalt and boron occur in the basement rocks of these holes. Of special note are highly anomalous zinc values (up to 0.62%) in drill hole LE- 01. The clay geochemistry along the Horse Conductor is typically mixed kaolinite/illite, a signature commonly associated with uranium mineralization in the Key Lake area. These geological and geochemical features are considered favourable for the development of uranium mineralization along the Horse Conductor.
JNR is currently evaluating and compiling data on the joint venture's Hook Lake Project in preparation for field programs later this year and is aggressively pursuing additional uranium exploration opportunities. The company is encouraged by the resurgence in the nuclear energy industry and, while continuing to maintain its focus on uranium exploration, JNR is also actively seeking high value deposits of rare earth elements, platinoids and gold, when deemed fiscally and logistically prudent. This is illustrated by the company's recent acquisition and farm-out of the Greywacke gold deposit in the La Ronge greenstone belt of Saskatchewan.
On Behalf of the Board of Directors of
JNR RESOURCES INC.
Per:
"R. T. Kusmirski"
Rick Kusmirski, President
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release.