SASKATOON, Dec. 19 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the "Company")
is pleased to provide the following update on its 100% owned uranium projects
located in the Athabasca Basin of Northern Saskatchewan.
The 2008 winter exploration program will be drill intensive. The Company
has budgeted $3.0 million to carry out 15,000 metres of diamond drilling on
the Way Lake, Yurchison Lake, Black Lake and Newnham Lake projects. The
permitting process is well underway, with drilling expected to begin early in
the New Year. Total meterage allocation to each project will be results
At Way Lake the program will target the original Hook Lake showing as
well as radioactive showings discovered during the 2007 summer prospecting
program and some 60 kilometres of virtually untested EM conductors interpreted
over the past two years from airborne and ground geophysical surveys.
Targets at Yurchison Lake include a number of EM conductors identified by
an airborne VTEM survey and several surface showings identified by the 2006
summer exploration program.
Drilling at Black Lake will target EM conductors identified over the past
three years that are associated with a minimum 40-kilometre long fault zone,
which represents the northern strike extension of the mineralized Virgin River
shear (Centennial Zone).
At Newnham Lake the program will target a number of conductive and
structural trends associated with metasedimentary rocks and radioactive
granitic pegmatites, in an area characterized by a large number of surficial
geochemical anomalies in lake sediments, peat and soils.
To facilitate the drilling program, the Company recently purchased two
Heliportable Diamond Drills (Reference: October 30, 2007 news release) and
entered into an agreement with Dynamic Drilling Inc. of Saskatoon to operate
the drills and provide the crews. Recent correspondence with all the concerned
parties indicates that the drills should be on site by year end.
The Company is still awaiting analytical results from the summer diamond
drilling, prospecting and till sampling programs completed this year on the
Way Lake and Yurchison Lake projects. The Saskatchewan Research Council
Laboratory (SRC) is currently experiencing a 12 to 15 week backlog.
The Company has also recently completed a high-resolution gradient
magnetic survey over its Crackingstone project and is in the process of flying
the same over Black Lake and Newnham Lake. The results of this survey will be
used to better define drill targets.
JNR is well financed with $14.5 million in working capital.
JNR's Vice-President of Exploration, David L. Billard, PGeo, is the
qualified person 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 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:
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 at (306) 382-2211 or (877) 567-6463;