Post by Franko10 ™ on Nov 3, 2004 10:05:00 GMT -5
Twenty Percent Uranium Intercept at Moore Lake
September 15, 2004 - JNR Resources Inc. (TSX.V: JNN) and International Uranium Corporation ("IUC") jointly the "Companies" are pleased to provide a further update on the summer drilling program for their Moore Lake uranium project, located in the Athabasca Basin of northern Saskatchewan.
Drill hole ML-61, returned a grade equivalent of 4.03% U3O8 over 10.0 meters (264.68 to 274.68 m); including a 1.4 meter intercept of 19.96% U3O8. The uranium mineralization in this hole occurs at the unconformity and in the overlying sandstone. ML-61 was drilled 5 meters south of drill hole ML-49 which was previously reported to have intersected sandstone-hosted uranium mineralization (2.41% U3O8 over 4.5 meters).
Drill hole ML-60, returned a grade equivalent of 2.20% U3O8 over 4.2 meters (265.48 to 269.68 m); including a 1.5 meter intercept of 4.30% U3O8. The uranium mineralization in this hole is sandstonehosted. ML-60 was drilled midway between two previously reported holes; ML-54 (3.50% U3O8 over 5.0 m) and ML-55 (5.14% U3O8 over 6.2 m).
The intersections reported for drill holes ML-61 & -60 were determined using a calibrated Geiger probe, appropriate for high grade mineralization. The probe measures gamma radiation to estimate the U3O8 grade, a standard procedure when core loss is extensive. Extensive core loss through mineralized zones is due to the intense alteration and structural disruption, and is very common in this type of uranium mineralization.
All of the geochemical results have now been received from drill holes ML-50 to -55.
ML-52 & -53 were drilled 15 meters to the north of previously reported hole ML-48 (4.01% U3O8 over 4.7 m) and ML-49, respectively. They are clearly in the footwall of the mineralized zone and intersected a highly altered and structurally disrupted sandstone column; that returned highly anomalous levels of uranium, lead and boron. ML-52 also intersected 6 meters of perched mineralization beginning at 50 meters downhole. Individual 0.5 meter samples of the perched mineralization returned up to 0.12% U3O8 , and were accompanied by highly anomalous lead and anomalous copper values.
ML-50 & -51 were drilled 15 meters south of ML-48 and -49 respectively. Both drill holes are in the hanging wall of the mineralized zone and intersected several meters of highly anomalous radioactivity including weak uranium mineralization, in strongly altered and structurally disrupted basement rocks.
Additional geochemical results have been received for the mineralized samples from ML-54 & -55, and indicate that they are also highly anomalous with respect to copper, nickel, lead, cobalt, vanadium and arsenic. In fact, the 5 meter wide mineralized intercept in ML-54 returned 2.29% nickel and 0.57% cobalt; while the 4.4 meter intercept in ML-55 that returned 7.02% U3O8 ; also contains 1.33% nickel and 0.96% cobalt.
The Companies are very pleased with these results. The intersection in ML-61 is the best to date on the property and indicative of the high grade nature of the mineralizing system. Two drills are currently operating and will continue to do so until freeze-up. Assay and/or probe results from additional holes will be released as they become available.
The drill core was prepared and analysed in accordance with industry standards by the Saskatchewan Research Council in Saskatoon. 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
September 15, 2004 - JNR Resources Inc. (TSX.V: JNN) and International Uranium Corporation ("IUC") jointly the "Companies" are pleased to provide a further update on the summer drilling program for their Moore Lake uranium project, located in the Athabasca Basin of northern Saskatchewan.
Drill hole ML-61, returned a grade equivalent of 4.03% U3O8 over 10.0 meters (264.68 to 274.68 m); including a 1.4 meter intercept of 19.96% U3O8. The uranium mineralization in this hole occurs at the unconformity and in the overlying sandstone. ML-61 was drilled 5 meters south of drill hole ML-49 which was previously reported to have intersected sandstone-hosted uranium mineralization (2.41% U3O8 over 4.5 meters).
Drill hole ML-60, returned a grade equivalent of 2.20% U3O8 over 4.2 meters (265.48 to 269.68 m); including a 1.5 meter intercept of 4.30% U3O8. The uranium mineralization in this hole is sandstonehosted. ML-60 was drilled midway between two previously reported holes; ML-54 (3.50% U3O8 over 5.0 m) and ML-55 (5.14% U3O8 over 6.2 m).
The intersections reported for drill holes ML-61 & -60 were determined using a calibrated Geiger probe, appropriate for high grade mineralization. The probe measures gamma radiation to estimate the U3O8 grade, a standard procedure when core loss is extensive. Extensive core loss through mineralized zones is due to the intense alteration and structural disruption, and is very common in this type of uranium mineralization.
All of the geochemical results have now been received from drill holes ML-50 to -55.
ML-52 & -53 were drilled 15 meters to the north of previously reported hole ML-48 (4.01% U3O8 over 4.7 m) and ML-49, respectively. They are clearly in the footwall of the mineralized zone and intersected a highly altered and structurally disrupted sandstone column; that returned highly anomalous levels of uranium, lead and boron. ML-52 also intersected 6 meters of perched mineralization beginning at 50 meters downhole. Individual 0.5 meter samples of the perched mineralization returned up to 0.12% U3O8 , and were accompanied by highly anomalous lead and anomalous copper values.
ML-50 & -51 were drilled 15 meters south of ML-48 and -49 respectively. Both drill holes are in the hanging wall of the mineralized zone and intersected several meters of highly anomalous radioactivity including weak uranium mineralization, in strongly altered and structurally disrupted basement rocks.
Additional geochemical results have been received for the mineralized samples from ML-54 & -55, and indicate that they are also highly anomalous with respect to copper, nickel, lead, cobalt, vanadium and arsenic. In fact, the 5 meter wide mineralized intercept in ML-54 returned 2.29% nickel and 0.57% cobalt; while the 4.4 meter intercept in ML-55 that returned 7.02% U3O8 ; also contains 1.33% nickel and 0.96% cobalt.
The Companies are very pleased with these results. The intersection in ML-61 is the best to date on the property and indicative of the high grade nature of the mineralizing system. Two drills are currently operating and will continue to do so until freeze-up. Assay and/or probe results from additional holes will be released as they become available.
The drill core was prepared and analysed in accordance with industry standards by the Saskatchewan Research Council in Saskatoon. 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