SASKATOON, Sept. 9 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company')
is pleased to announce that a diamond drilling program is underway on its
Rocky Brook uranium joint venture located in western Newfoundland. The company
holds an undivided 70% participating interest in the project with Altius
Minerals Corporation holding the remaining 30%.
Exploration at Rocky Brook is focused on discovery of the bedrock sources
for two discrete high-grade boulder clusters in glacial till, with reported
historical assays ranging from 1% to more than 10% U(3)O8, as well as very
high-grade silver contents. Drilling to date has identified two areas of low
level anomalous radioactivity at or near the overburden-bedrock interface
proximal to the high-grade boulder clusters. Several geochemically-enriched
fault structures and/or redox alteration fronts thought to possibly control
the high-grade uranium-silver mineralization have also been defined.
The 2009 fall drilling program will consist of twenty-five to thirty
holes comprising up to 2,000 metres. It will follow-up the encouraging results
from earlier campaigns and test the anomalous areas identified by a water
geochemical survey completed during the summer of 2008. Of particular
interest, with respect to the latter, are a number of geochemically anomalous
linear trends which suggest an underlying structural control.
The drilling program will also test targets identified by a recently
completed IP survey. In total, fourteen lines were surveyed for a distance of
23.5 kilometres. The results indicate the presence of several significant and
highly prospective structural features coincident with the geochemical trends,
which were not tested at the optimum localities by previous drilling.
This program is expected to continue into December. Results will be
released when they become available.
JNR is led by a highly experienced management team with proven discovery
success in uranium exploration. Its association with Altius on the island of
Newfoundland is an invaluable local resource for the Company. In addition to
its projects in Newfoundland, the Company has an interest in 14 projects
totalling some 345,000 hectares of highly prospective ground in the renowned
Athabasca Basin of northern Saskatchewan.
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 Rocky Brook project 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-RB.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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. Statements
contained in this news release that are forward-looking statements involve
known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be materially
different from any future results, performance or achievements expressed or
implied by the forward-looking statements. Such risks and other factors
include, among others, risks related to the accessibility to the property;
operational risks; weather; availability of equipment and personnel; changes
in project parameters as plans continue to be refined; delays in obtaining
governmental approvals; delays or failure in obtaining financing on acceptable
terms. Although the Company has attempted to identify important factors that
could cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements.
For further information:
For further information: contact JNR Resources at (306) 382-2211 or