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Post by Franko10 ™ on Sept 11, 2004 13:08:38 GMT -5
Moore Lake Uranium Project - Summer Diamond Drilling Program Update
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August 17, 2004 - JNR Resources Inc. (TSX.V: JNN) and International Uranium Corporation ("IUC") jointly the "Companies" are pleased to provide an update on the summer diamond drilling program on their Moore Lake uranium project, located in the Athabasca Basin of northern Saskatchewan.
The Companies have received the geochemical results for the first three holes drilled this summer on the Maverick Zone (ML-47 to - 49), and are pleased to report two new significant uranium intersections. ML-48 assayed 4.01 % U3O8 over 4.7 meters, including a 2.7 meter interval containing 6.74 % U3O8; while ML-49 assayed 2.41 % U3O8 over 4.5 meters, including a 2.5 meter interval containing 4.17 % U3O8.
These two drill holes were progressive 17 meter stepouts to the west of ML-25 and represent the best intersections to date on the property. Of note, is that while the uranium mineralization in ML-48 is of the classic unconformity style; the mineralization in ML-49 is hosted entirely by sandstone. This variety in mineralization styles, including previously intersected basement hosted mineralization, is common to uranium deposits in the Athabasca Basin.
ML-47 which was drilled south of and on section with ML-31 returned a grade equivalent of 0.30 % U3O8 over 9.0 meters including a 2.8 meter interval of 0.642 % U3O8. These results were determined from a calibrated downhole probe. Geochemical results are not available because of the poor core recovery through the mineralized zone. Also, ML-47 will require follow-up, as it is still in the footwall of the Maverick structure, with the optimum target still to the south.
The Companies have also received the interpretation from the geophysical surveys completed on the property earlier this summer. The structural corridor that hosts the uranium mineralization has been extended to the northeast and west, and can now be traced over a minimum strike length of three kilometers.
The Companies are very pleased with these results and a second drill crew is being mobilized. The second drill should be operating within ten days. Assay results from several additional holes are pending and will be released as they become available.
Drill core was prepared and analysed by the Saskatchewan Research Council in accordance with industry standards. Drill results and technical data have been reviewed by Richard Kusmirski, P.Geo., a Qualified Person pursuant to NI 43-101.
ON BEHALF OF THE BOARD
Rick Kusmirski,
President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
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August 17, 2004 - JNR Resources Inc. (TSX.V: JNN) and International Uranium Corporation ("IUC") jointly the "Companies" are pleased to provide an update on the summer diamond drilling program on their Moore Lake uranium project, located in the Athabasca Basin of northern Saskatchewan.
The Companies have received the geochemical results for the first three holes drilled this summer on the Maverick Zone (ML-47 to - 49), and are pleased to report two new significant uranium intersections. ML-48 assayed 4.01 % U3O8 over 4.7 meters, including a 2.7 meter interval containing 6.74 % U3O8; while ML-49 assayed 2.41 % U3O8 over 4.5 meters, including a 2.5 meter interval containing 4.17 % U3O8.
These two drill holes were progressive 17 meter stepouts to the west of ML-25 and represent the best intersections to date on the property. Of note, is that while the uranium mineralization in ML-48 is of the classic unconformity style; the mineralization in ML-49 is hosted entirely by sandstone. This variety in mineralization styles, including previously intersected basement hosted mineralization, is common to uranium deposits in the Athabasca Basin.
ML-47 which was drilled south of and on section with ML-31 returned a grade equivalent of 0.30 % U3O8 over 9.0 meters including a 2.8 meter interval of 0.642 % U3O8. These results were determined from a calibrated downhole probe. Geochemical results are not available because of the poor core recovery through the mineralized zone. Also, ML-47 will require follow-up, as it is still in the footwall of the Maverick structure, with the optimum target still to the south.
The Companies have also received the interpretation from the geophysical surveys completed on the property earlier this summer. The structural corridor that hosts the uranium mineralization has been extended to the northeast and west, and can now be traced over a minimum strike length of three kilometers.
The Companies are very pleased with these results and a second drill crew is being mobilized. The second drill should be operating within ten days. Assay results from several additional holes are pending and will be released as they become available.
Drill core was prepared and analysed by the Saskatchewan Research Council in accordance with industry standards. Drill results and technical data have been reviewed by Richard Kusmirski, P.Geo., a Qualified Person pursuant to NI 43-101.
ON BEHALF OF THE BOARD
Rick Kusmirski,
President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
