SASKATOON, SK, Sept. 20 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the
'Company') has been advised by the project operator Denison Mines Corp.
(TSX:DML) that a planned 1,750-metre diamond drilling program is underway on
the Bell Lake uranium Joint Venture located near the northeastern edge of the
Athabasca Basin of northern Saskatchewan. The Company owns a 40% interest in
the project, with Denison owning the remaining 60%.
The Company has also received the results of the 2006 summer/fall and
2007 winter exploration programs. Those programs consisted of some
235 kilometres of line cutting, 375 kilometres of ground magnetometer and time
domain electromagnetic (TDEM) surveying and property-wide composite sandstone
boulder sampling. In total, 646 samples were collected.
The geophysical program was designed to better define a discrete and
extensive airborne EM signature interpreted from GeoTEM and MegaTEM surveys
flown in 1999 and 2005. This program successfully identified a coincident,
several kilometre long east-west EM/magnetic conductive trend through the
central portion of the project lands, which is being targeted by the current
drilling program. Several boulder samples with elevated uranium levels were
also obtained from this area. The coincident EM/magnetic signature is
interpreted to represent graphite-bearing pelites. The 2007 program is
budgeted at $925,000.
The Bell Lake property currently consists of ten mineral claims totalling
30,767 hectares. Historic work consisted largely of airborne magnetic and EM
surveys. In 1980, Saskatchewan Mining Development Corporation, one of the
predecessor companies to Cameco, tested two east-west trending conductors with
five diamond drill holes. The results were encouraging in that three of the
holes returned anomalous uranium, lead and nickel values from altered basal
sandstone, along with a favourable clay type, illite, plus chlorite. The best
analytical result was 586 ppm uranium over 0.5 metres from the unconformity in
drill hole BE-4. Depth to the unconformity was from 235 to 305 metres. Also of
note is that the Bell Lake property is proximal to Cameco's La Rocque Lake
uranium zone, where intersections of up to 31.9 % U(3)O(8) over 7.0 metres
have been reported.
JNR's Vice-President of Exploration, David L. Billard, PGeo, is the
qualified person responsible for the technical data presented in this release.
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
President & CEO
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS NEWS RELEASE.
For further information:
For further information: JNR Resources at (306) 382-2211 or (877)