Owner
Post by Franko10 ™ on Sept 11, 2004 12:47:05 GMT -5
Diamond Drilling Commences at Greywacke
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Mr. Rick Kusmirski, President, is pleased to report that JNR Resources Inc. (JNN.V) has been notified by Masuparia Gold Corporation of the commencement of a 1000 metre diamond drilling program on its Greywacke project, in northern Saskatchewan. Analytical results have already been obtained for the first drill hole, GW-01-41, and indicate the presence of high grade gold mineralization at a vertical depth of approximately 100 metres; the details of which are listed below.
Hole #GW-01-41
-----------------------------
From To Length Grade
(m) (m) (m) (g/t)
-----------------------------
119.5 120.0 0.50 3.91
120.0 120.5 0.50 11.46
120.5 121.0 0.50 27.23
121.0 121.5 0.50 13.43
121.5 122.0 0.50 33.92
122.0 122.5 0.50 14.60
122.5 123.0 0.50 28.35
123.0 123.5 0.50 23.86
123.5 124.0 0.50 44.62
124.0 124.5 0.50 8.84
124.5 125.0 0.50 1.91
-----------------------------
For the interval 120.0 m to 124.5 m, the average grade is 22.92 grams gold per tonne over a true width of 4.14 meters or 0.67 ounces of gold per ton over a true width of 13.56 feet.
Additional results will be released as they become available.
The Greywacke property contains the Greywacke North zone where a possible reserve of 328,000 tons at 0.27 ounces gold per ton was outlined (Cameco -- 1991 winter report). (This reserve calculation does not conform to current CIM reserve reporting standards.) This zone is open in all directions and has the potential to host additional gold mineralization. Previous work by Cameco detected gold in drill holes over a length of 800 meters and to a depth of 200 meters. The property contains more than 8 kilometers of favourable geology which has the potential to host additional deposits. The property is located 8 kilometers from a highway and can be worked year-round in a very cost-effective manner. The objectives of the present program are to test the continuity between gold intercepts from previous drilling, to gain information which can be used in upgrading the status of the zone into the reserve category and to test the potential for high grade zones.
Drill hole GW-01-41 has confirmed the potential for higher grades. A surface sample which graded 0.934 ounces of gold per ton over 7.5 meters is further confirmation that high-grade sections are present. The drill hole is located in the Greywacke North Zone, 15 meters south of a previous intersection which graded 0.379 oz/ton over 4.4 meters.
K. Howard Poulsen and Francois Robert of the mineral resources division of the Geological Survey of Canada state that the Greywacke property shares a number of geological attributes with deposits elsewhere in Canada such as Hemlo, Bousqet, Madsen Red Lake, Montauban and Chetwynd.
These results are reported under an extensive quality control program supervised by Dr. Colin Bowdidge, Ph.D., independent consultant, who is an appropriately qualified person as defined by National Instrument 43-101. His responsibilities include independently auditing quality control and quality assurance (QA/QC) programs in place at the Greywacke project. This rigorous QA/QC program includes on-site control of core samples, security procedures for shipping and a program of duplicate, check, and blank assaying, including check assaying at a separate laboratory. The quality of these QA/QC programs meets or exceeds industry standards. Dr. Bowdidge has corroborated these data, including sampling, analytical and test data, on which the above information is based. The drill hole is 4.65 cm (1.83 in) diameter NQ diamond core. All core is logged and photographed before splitting with a diamond saw. Half the core is retained as a permanent record and half-core samples are shipped to TSL Laboratories, in Saskatoon, for assaying. All samples are assayed at TSL Laboratories in Saskatoon, Sask., using standard sample preparation and fire assay procedures with a gravimetric finish. All samples assaying over 20 g/t are re-assayed with a standard metallics procedure. The procedure can involve up to three check assays. All assays are uncapped unless otherwise stated. Blank samples and standards are inserted into the assay stream throughout the program. A check assay procedure will use Swastika Laboratories, in Swastika, Ontario for check assays. Both laboratories are in the process of obtaining ISO Certification.
The Greywacke project is owned by JNR Resources Inc. (50%) and Shane Resources Ltd. (50%) who, on May 18th, 2001, entered into an agreement to option the property to Masuparia Gold Corporation. Masuparia can earn a 51% interest in the property by issuing 500,000 shares and spending $850,000 by May 25, 2005. Masuparia can also earn a further 19% interest in the property by spending an additional $2 million by May 25, 2008.
JNR Resources Inc. is a junior resource company currently engaged in the exploration and development of mineral properties in the province of Saskatchewan. Although JNR's present focus is on its highly prospective uranium exploration properties, which it is exploring along with joint venture partner, Kennecott Canada Exploration Inc., the company will continue to take advantage of promising diversification opportunities, such as that provided by Greywacke.
On Behalf of the Board
"R. T. Kusmirski"
Rick Kusmirski, President
For further information, contact:
Rick Kusmirski, President
(306) 249-3562 or 1-800-661-4050
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release.
--------------------------------------------------------------------------------
Mr. Rick Kusmirski, President, is pleased to report that JNR Resources Inc. (JNN.V) has been notified by Masuparia Gold Corporation of the commencement of a 1000 metre diamond drilling program on its Greywacke project, in northern Saskatchewan. Analytical results have already been obtained for the first drill hole, GW-01-41, and indicate the presence of high grade gold mineralization at a vertical depth of approximately 100 metres; the details of which are listed below.
Hole #GW-01-41
-----------------------------
From To Length Grade
(m) (m) (m) (g/t)
-----------------------------
119.5 120.0 0.50 3.91
120.0 120.5 0.50 11.46
120.5 121.0 0.50 27.23
121.0 121.5 0.50 13.43
121.5 122.0 0.50 33.92
122.0 122.5 0.50 14.60
122.5 123.0 0.50 28.35
123.0 123.5 0.50 23.86
123.5 124.0 0.50 44.62
124.0 124.5 0.50 8.84
124.5 125.0 0.50 1.91
-----------------------------
For the interval 120.0 m to 124.5 m, the average grade is 22.92 grams gold per tonne over a true width of 4.14 meters or 0.67 ounces of gold per ton over a true width of 13.56 feet.
Additional results will be released as they become available.
The Greywacke property contains the Greywacke North zone where a possible reserve of 328,000 tons at 0.27 ounces gold per ton was outlined (Cameco -- 1991 winter report). (This reserve calculation does not conform to current CIM reserve reporting standards.) This zone is open in all directions and has the potential to host additional gold mineralization. Previous work by Cameco detected gold in drill holes over a length of 800 meters and to a depth of 200 meters. The property contains more than 8 kilometers of favourable geology which has the potential to host additional deposits. The property is located 8 kilometers from a highway and can be worked year-round in a very cost-effective manner. The objectives of the present program are to test the continuity between gold intercepts from previous drilling, to gain information which can be used in upgrading the status of the zone into the reserve category and to test the potential for high grade zones.
Drill hole GW-01-41 has confirmed the potential for higher grades. A surface sample which graded 0.934 ounces of gold per ton over 7.5 meters is further confirmation that high-grade sections are present. The drill hole is located in the Greywacke North Zone, 15 meters south of a previous intersection which graded 0.379 oz/ton over 4.4 meters.
K. Howard Poulsen and Francois Robert of the mineral resources division of the Geological Survey of Canada state that the Greywacke property shares a number of geological attributes with deposits elsewhere in Canada such as Hemlo, Bousqet, Madsen Red Lake, Montauban and Chetwynd.
These results are reported under an extensive quality control program supervised by Dr. Colin Bowdidge, Ph.D., independent consultant, who is an appropriately qualified person as defined by National Instrument 43-101. His responsibilities include independently auditing quality control and quality assurance (QA/QC) programs in place at the Greywacke project. This rigorous QA/QC program includes on-site control of core samples, security procedures for shipping and a program of duplicate, check, and blank assaying, including check assaying at a separate laboratory. The quality of these QA/QC programs meets or exceeds industry standards. Dr. Bowdidge has corroborated these data, including sampling, analytical and test data, on which the above information is based. The drill hole is 4.65 cm (1.83 in) diameter NQ diamond core. All core is logged and photographed before splitting with a diamond saw. Half the core is retained as a permanent record and half-core samples are shipped to TSL Laboratories, in Saskatoon, for assaying. All samples are assayed at TSL Laboratories in Saskatoon, Sask., using standard sample preparation and fire assay procedures with a gravimetric finish. All samples assaying over 20 g/t are re-assayed with a standard metallics procedure. The procedure can involve up to three check assays. All assays are uncapped unless otherwise stated. Blank samples and standards are inserted into the assay stream throughout the program. A check assay procedure will use Swastika Laboratories, in Swastika, Ontario for check assays. Both laboratories are in the process of obtaining ISO Certification.
The Greywacke project is owned by JNR Resources Inc. (50%) and Shane Resources Ltd. (50%) who, on May 18th, 2001, entered into an agreement to option the property to Masuparia Gold Corporation. Masuparia can earn a 51% interest in the property by issuing 500,000 shares and spending $850,000 by May 25, 2005. Masuparia can also earn a further 19% interest in the property by spending an additional $2 million by May 25, 2008.
JNR Resources Inc. is a junior resource company currently engaged in the exploration and development of mineral properties in the province of Saskatchewan. Although JNR's present focus is on its highly prospective uranium exploration properties, which it is exploring along with joint venture partner, Kennecott Canada Exploration Inc., the company will continue to take advantage of promising diversification opportunities, such as that provided by Greywacke.
On Behalf of the Board
"R. T. Kusmirski"
Rick Kusmirski, President
For further information, contact:
Rick Kusmirski, President
(306) 249-3562 or 1-800-661-4050
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release.
