SASKATOON, Dec. 20 /CNW/ - JNR Resources Inc. (TSXV:JNN) is pleased to
provide the following update on its Newfoundland uranium joint ventures with
partner Altius Minerals Corporation (TSX:ALS); jointly the "Companies".
The Companies have approved in principle a 2008 exploration program
budgeted at $1.7 million for the jointly held Topsails uranium project. The
Topsails project is a 50/50 alliance that was established in the fall of 2007
to explore for volcanic-hosted uranium deposits in a defined area of central
Newfoundland. It was acquired by staking 10,584 claims covering some 264,600
hectares. Recently, an additional 65 claims (1,625 hectares) were staked in an
area of anomalous uranium in soils and added to the project lands.
Prior to acquiring the ground, field investigations confirmed the
prospective geological setting. JNR's Director of Exploration, Dr. Irvine R.
Annesley comments: "Geologically, the Topsails property exhibits a number of
similarities to the Streltsovka caldera, Russia's largest resource of uranium,
and the McDermitt caldera in the western United States". Furthermore, a review
of the limited reconnaissance work carried out previously at Topsails
indicates significant radiometric anomalies associated with the volcanic
The 2008 program will be initiated early in the New Year and consists of
lake sediment sampling, a detailed airborne radiometric and magnetic survey
and an extensive prospecting campaign in areas identified as being anomalous.
The Company is also pleased to announce that the fall diamond drilling
and trenching program on the Rocky Brook property has recently been completed.
JNR is earning a 70% interest in the project from Altius. The property
features three distinct areas of un-sourced, altered and mineralized sandstone
boulders with reported values ranging from 1% to more than 10% U3O8, as well
as very high-grade silver contents.
The fall drilling program consisted of 82 holes totalling 2,482 metres.
Four areas were targeted, with focus on the Birchy Hill Brook and Wigwam Brook
boulder anomalies. Prior drilling at Birchy Hill Brook identified radioactive
zones associated with hematized sandstone and mudstone units. In the Wigwam
Brook area, the results to date indicate a complex stratigraphic/structural
control to the mineralization accompanied by geochemical enrichment. A
trenching program in the Wigwam Brook area was also completed.
All core and trench samples have been sent to the Saskatchewan Research
Council Laboratory in Saskatoon for analysis. The results will be released
once all of the pertinent data is fully evaluated.
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: contact JNR Resources at (306) 382-2211 or