Owner
Post by Franko10 ™ on Sept 11, 2004 12:50:04 GMT -5
Drilling To Resume At Greywacke
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NR 02-01
JNR Resources Inc. is pleased to announce that an exploration program consisting of diamond drilling and geophysics is scheduled to resume in the next few days, on its 50 % owned Greywacke gold project.
The project operator, Masuparia Gold Corporation, will carry out approximately 1000 metres of drilling, focusing on the Greywacke zone and the Lyons zone. Drilling will also be carried out on the Hoover zone, which occurs on an adjoining project.
Historic drilling on the Greywacke zone intersected gold mineralization over a strike length of some 800 metres and to a depth of 200 metres. This mineralization is open in all directions and includes the Greywacke North zone, which contains a possible reserve of 328,000 tons @ 0.27 oz/ton Au (Cameco -- 1991 winter report; This reserve calculation does not conform to current CIM reserve reporting standards). In the fall of 2001, Masuparia drilled twelve holes on the North zone and successfully verified the continuity of the gold mineralization and, more importantly, its high grade potential.
Historic drilling on the Lyons zone, which is located one kilometre southwest of and along strike of the Greywacke North zone, returned up to 0.77 oz/ton Au / 1.9 metres. This gold mineralization is also open.
The Greywacke gold property is under option to Masuparia from JNR Resources (50 per cent) and Shane Resources (50 per cent). Masuparia can earn up to a 70 per cent interest in the property by issuing up to 500,000 shares by May 25 th , 2005, and by spending $2.85 million on exploration by May 25 th , 2008.
Results will be reported as they become available.
ON BEHALF OF THE BOARD
"R. T. Kusmirski"
Rick Kusmirski, President & Director
For further information, please call:
(306) 249-3562
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release.
--------------------------------------------------------------------------------
NR 02-01
JNR Resources Inc. is pleased to announce that an exploration program consisting of diamond drilling and geophysics is scheduled to resume in the next few days, on its 50 % owned Greywacke gold project.
The project operator, Masuparia Gold Corporation, will carry out approximately 1000 metres of drilling, focusing on the Greywacke zone and the Lyons zone. Drilling will also be carried out on the Hoover zone, which occurs on an adjoining project.
Historic drilling on the Greywacke zone intersected gold mineralization over a strike length of some 800 metres and to a depth of 200 metres. This mineralization is open in all directions and includes the Greywacke North zone, which contains a possible reserve of 328,000 tons @ 0.27 oz/ton Au (Cameco -- 1991 winter report; This reserve calculation does not conform to current CIM reserve reporting standards). In the fall of 2001, Masuparia drilled twelve holes on the North zone and successfully verified the continuity of the gold mineralization and, more importantly, its high grade potential.
Historic drilling on the Lyons zone, which is located one kilometre southwest of and along strike of the Greywacke North zone, returned up to 0.77 oz/ton Au / 1.9 metres. This gold mineralization is also open.
The Greywacke gold property is under option to Masuparia from JNR Resources (50 per cent) and Shane Resources (50 per cent). Masuparia can earn up to a 70 per cent interest in the property by issuing up to 500,000 shares by May 25 th , 2005, and by spending $2.85 million on exploration by May 25 th , 2008.
Results will be reported as they become available.
ON BEHALF OF THE BOARD
"R. T. Kusmirski"
Rick Kusmirski, President & Director
For further information, please call:
(306) 249-3562
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release.
