Post by Zoinkers on Nov 13, 2006 18:39:13 GMT -5
Press Release Source: JNR Resources Inc.
JNR Reports High-Grade Uranium Results at Way Lake
Thursday October 12, 9:00 am ET
TSXV:JNN Email: info(at)jnrresources.com Website: www.jnrresources.com
SASKATOON, SK, Oct. 12 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company') is pleased to announce results of the recently completed summer exploration program on the Company's 100% owned Way Lake uranium project, located 55 kilometres east of the Key Lake uranium mine in the Athabasca Basin of northern Saskatchewan.
High-grade uranium mineralization was returned from outcrop sampling of a previously identified massive pitchblende vein, referred herein as the Hook Lake showing. Two grab samples collected from the vein returned 40.1 % and 48% U(3)O(8), while a soil sample overlying the vein assayed 27.8% U(3)O(8). The uranium mineralization is also associated with significant lead (up to 8.8%), rare earth element and thorium enrichment, and anomalous boron, cobalt and vanadium values. A narrow radioactive shear/fracture set approximately 5 metres south of the pitchblende vein returned 460 ppm uranium and elevated lead and rare earth elements. Non-mineralized host rock to the veins returned background to weakly enriched (32 ppm) uranium values.
The Hook Lake showing, as mapped by Dr. Irvine Annesley of the Saskatchewan Research Council, occupies a 1.0-metre wide by minimum 10-metre long dilational jog within a south-southwest trending ductile-brittle shear zone hosted by felsic to mafic intrusive rocks. The shear zone occurs along the edge of an extensive muskeg and likely acted as the conduit for the mineralization. Dr. Annesley sees similarities between the basement-hosted uranium mineralization on the Way Lake project and other uranium deposits such as Eagle Point. Both are structurally controlled, vein-type, high grade and likely part of the 'feeder system' to more typical unconformity deposits.
Exploration elsewhere, both on and off property, identified a number of anomalous areas. In the Beckett Lake area, grab samples of radioactive pegmatite and granite outcrops and/or boulders returned from 45 to 100 ppm uranium, while in the Alexander Lake area, several radioactive pegmatite and granite outcrops and/or boulders returned up to 150 ppm uranium with elevated lead and boron values.
In light of these highly encouraging results, the Company recently staked an additional 58,000 hectares of ground in the Way Lake area to cover the projected extensions of the Hook Lake, Beckett Lake and Alexander Lake showings, as well as newly identified EM conductors detected by a 4,500 line-kilometre helicopter-borne VTEM survey that was initiated in mid-August and is nearing completion.
The Way Lake project now comprises 17 contiguous claims totalling 71,795 hectares. Planning of the 2006-2007 winter exploration program is underway. It will include a significant diamond drilling component focussing on the Hook Lake showing.
The Company has also staked 4 claims totalling 12,660 hectares in the Yurchison Lake area, located 10 kilometres northeast of the Way Lake property. Exploration in and near old trenches returned significant uranium and molybdenum mineralization from both outcrop and float samples. Uranium values ranged from 0.09 to 0.30% U(3)O(8), with molybdenum values ranging from 2,500 to 6,400 ppm. The host rocks are actinolite-bearing gneisses. The Company holds a 100% interest in the Yurchison Lake project and is currently flying an 800-line kilometre helicopter-borne VTEM survey over its landholdings.
Samples were analysed at the Saskatchewan Research Council Laboratory in Saskatoon. JNR's president Richard T. Kusmirski, PGeo, and exploration Manager, David L. Billard, PGeo, are the qualified persons responsible for the technical data presented in this release. All technical information for the Company's exploration projects is obtained and reported under a formal quality assurance and quality control program, details of which are presented within a material change report filed on SEDAR on December 2, 2004, and on the Company's website at: www.jnrresources.com/i/pdf/JNR-QAQC.pdf. A glossary of the technical terms included in this release can be found on the Company's website at: www.jnrresources.com/s/Glossary.asp.
ON BEHALF OF THE BOARD
Rick Kusmirski
President & CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
For further information
JNR Resources at (306) 382-2211 or (877) 567-6463
--------------------------------------------------------------------------------
Source: JNR Resources Inc.
JNR Reports High-Grade Uranium Results at Way Lake
Thursday October 12, 9:00 am ET
TSXV:JNN Email: info(at)jnrresources.com Website: www.jnrresources.com
SASKATOON, SK, Oct. 12 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company') is pleased to announce results of the recently completed summer exploration program on the Company's 100% owned Way Lake uranium project, located 55 kilometres east of the Key Lake uranium mine in the Athabasca Basin of northern Saskatchewan.
High-grade uranium mineralization was returned from outcrop sampling of a previously identified massive pitchblende vein, referred herein as the Hook Lake showing. Two grab samples collected from the vein returned 40.1 % and 48% U(3)O(8), while a soil sample overlying the vein assayed 27.8% U(3)O(8). The uranium mineralization is also associated with significant lead (up to 8.8%), rare earth element and thorium enrichment, and anomalous boron, cobalt and vanadium values. A narrow radioactive shear/fracture set approximately 5 metres south of the pitchblende vein returned 460 ppm uranium and elevated lead and rare earth elements. Non-mineralized host rock to the veins returned background to weakly enriched (32 ppm) uranium values.
The Hook Lake showing, as mapped by Dr. Irvine Annesley of the Saskatchewan Research Council, occupies a 1.0-metre wide by minimum 10-metre long dilational jog within a south-southwest trending ductile-brittle shear zone hosted by felsic to mafic intrusive rocks. The shear zone occurs along the edge of an extensive muskeg and likely acted as the conduit for the mineralization. Dr. Annesley sees similarities between the basement-hosted uranium mineralization on the Way Lake project and other uranium deposits such as Eagle Point. Both are structurally controlled, vein-type, high grade and likely part of the 'feeder system' to more typical unconformity deposits.
Exploration elsewhere, both on and off property, identified a number of anomalous areas. In the Beckett Lake area, grab samples of radioactive pegmatite and granite outcrops and/or boulders returned from 45 to 100 ppm uranium, while in the Alexander Lake area, several radioactive pegmatite and granite outcrops and/or boulders returned up to 150 ppm uranium with elevated lead and boron values.
In light of these highly encouraging results, the Company recently staked an additional 58,000 hectares of ground in the Way Lake area to cover the projected extensions of the Hook Lake, Beckett Lake and Alexander Lake showings, as well as newly identified EM conductors detected by a 4,500 line-kilometre helicopter-borne VTEM survey that was initiated in mid-August and is nearing completion.
The Way Lake project now comprises 17 contiguous claims totalling 71,795 hectares. Planning of the 2006-2007 winter exploration program is underway. It will include a significant diamond drilling component focussing on the Hook Lake showing.
The Company has also staked 4 claims totalling 12,660 hectares in the Yurchison Lake area, located 10 kilometres northeast of the Way Lake property. Exploration in and near old trenches returned significant uranium and molybdenum mineralization from both outcrop and float samples. Uranium values ranged from 0.09 to 0.30% U(3)O(8), with molybdenum values ranging from 2,500 to 6,400 ppm. The host rocks are actinolite-bearing gneisses. The Company holds a 100% interest in the Yurchison Lake project and is currently flying an 800-line kilometre helicopter-borne VTEM survey over its landholdings.
Samples were analysed at the Saskatchewan Research Council Laboratory in Saskatoon. JNR's president Richard T. Kusmirski, PGeo, and exploration Manager, David L. Billard, PGeo, are the qualified persons responsible for the technical data presented in this release. All technical information for the Company's exploration projects is obtained and reported under a formal quality assurance and quality control program, details of which are presented within a material change report filed on SEDAR on December 2, 2004, and on the Company's website at: www.jnrresources.com/i/pdf/JNR-QAQC.pdf. A glossary of the technical terms included in this release can be found on the Company's website at: www.jnrresources.com/s/Glossary.asp.
ON BEHALF OF THE BOARD
Rick Kusmirski
President & CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
For further information
JNR Resources at (306) 382-2211 or (877) 567-6463
--------------------------------------------------------------------------------
Source: JNR Resources Inc.