SASKATOON, May 14 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company')
is pleased to provide the following update on its Rocky Brook joint venture
located in western Newfoundland.
JNR has received confirmation from Altius Resources Inc. that the company
has earned an undivided 70% participating interest in the project. The Company
has also received the final interpretation of a water geochemical survey
carried out in the summer of 2008, and a preliminary interpretation from a
recently completed 22.7 km induced polarization (IP) survey over several high
priority targets on the property.
The water geochemical survey was carried out in the summer of 2008 to
assist in delineating additional drill targets in the primarily bog-covered
terrain of the Deer Lake Basin (see news release dated August 29, 2008). The
survey was conducted over the most prospective portions of the Rocky Brook
property and a total of 1,025 samples were collected and analyzed for trace
elements by ICP-MS. Evaluation of the results of that survey is now complete.
Uranium and associated trace element anomalies were detected up-ice of the
Birchy Hill Brook, Wigwam, and Goose boulder fields as were seven additional
target areas on the property. Associated elements within the anomalies include
arsenic, barium, bromine, copper, molybdenum, lead and, selenium. Most of the
anomalies define linear trends, which suggest an underlying structural control
marginal to areas exhibiting a carbonate signature.
The 2009 winter IP survey was initiated to better define the structural
controls suggested by the geochemical survey. The initial results were
impressive enough that the survey was extended to provide detailed results in
select areas. Preliminary results indicate the presence of several significant
structural features coincident with the geochemical trends, which also appear
to parallel the azimuth of the drill holes completed to date. This suggests
that previous drilling did not test these highly prospective features in the
Exploration at Rocky Brook is focused on the discovery of 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)O(8), 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.
Incorporation of the new IP and geochemical data into the current 3D
model is in progress. This work will be used to direct the 2009 diamond
drilling program that will be initiated later this summer. Tenders for the
planned 2,000-metre program have been received.
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 343,000 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: JNR Resources at (306) 382-2211 or (877)