Owner
Post by Franko10 ™ on Sept 11, 2004 12:52:45 GMT -5
Moore Lake Project Update
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No. 02-08
Rick Kusmirski, President of JNR Resources Inc., (the "Company") is pleased to report that the Company has received from the project operator, Kennecott Canada Exploration Inc., the results from the recently completed line cutting and ground geophysical programs on the Joint Venture's Moore Lake uranium project.
This work was initiated to follow up the very encouraging results obtained this past winter from diamond drill holes ML-23 & -24. Both holes intersected broad zones of significant radioactivity including mineralization, in intensely altered and structurally disrupted graphitic pelites. The trace element geochemistry for both holes was also highly anomalous, particularly in the mineralized intervals. These intercepts exhibit the classic Ni-Co-As enrichment characteristic of the basement rocks of all unconformity deposits, as well as the base metal enrichment that is common to the McArthur River and Key Lake uranium deposits.
The geophysical results indicate the presence of a well defined 50 to 100 metre wide conductive zone which trends across the grid in an east-northeast to northeast fashion. This zone is a minimum of two kilometres long and is open ended off the grid in both directions. It correlates well with a broad magnetic low and with a gravity low, although the latter is more pronounced to the north of the conductive zone.
In lay person terms, the geophysical interpretation suggests the presence of features characteristic of unconformity uranium deposits: a major fault zone, broad zones of alteration, significant hydrothermal activity and perhaps most importantly, a broad zone of graphitic pelites in the basement. Furthermore, the only holes (specifically ML-03, -23 & -24) that have tested this open ended two-kilometre long conductive zone are mineralized and exhibit a complex trace element enrichment pattern common to unconformity uranium deposits.
JNR's technical team is very encouraged by these results which indicate a number of high priority drill targets. The Joint Venture is looking forward to the next phase of drilling which will be initiated in June of this year. Details of the program have yet to be finalized and 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 Inc. has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release.
--------------------------------------------------------------------------------
No. 02-08
Rick Kusmirski, President of JNR Resources Inc., (the "Company") is pleased to report that the Company has received from the project operator, Kennecott Canada Exploration Inc., the results from the recently completed line cutting and ground geophysical programs on the Joint Venture's Moore Lake uranium project.
This work was initiated to follow up the very encouraging results obtained this past winter from diamond drill holes ML-23 & -24. Both holes intersected broad zones of significant radioactivity including mineralization, in intensely altered and structurally disrupted graphitic pelites. The trace element geochemistry for both holes was also highly anomalous, particularly in the mineralized intervals. These intercepts exhibit the classic Ni-Co-As enrichment characteristic of the basement rocks of all unconformity deposits, as well as the base metal enrichment that is common to the McArthur River and Key Lake uranium deposits.
The geophysical results indicate the presence of a well defined 50 to 100 metre wide conductive zone which trends across the grid in an east-northeast to northeast fashion. This zone is a minimum of two kilometres long and is open ended off the grid in both directions. It correlates well with a broad magnetic low and with a gravity low, although the latter is more pronounced to the north of the conductive zone.
In lay person terms, the geophysical interpretation suggests the presence of features characteristic of unconformity uranium deposits: a major fault zone, broad zones of alteration, significant hydrothermal activity and perhaps most importantly, a broad zone of graphitic pelites in the basement. Furthermore, the only holes (specifically ML-03, -23 & -24) that have tested this open ended two-kilometre long conductive zone are mineralized and exhibit a complex trace element enrichment pattern common to unconformity uranium deposits.
JNR's technical team is very encouraged by these results which indicate a number of high priority drill targets. The Joint Venture is looking forward to the next phase of drilling which will be initiated in June of this year. Details of the program have yet to be finalized and 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 Inc. has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release.
