SASKATOON, Nov. 1, 2011 /CNW/ - JNR Resources Inc. (TSXV:JNN) ('JNR' or the 'Company') is pleased to report the analytical results
from the recently completed diamond drilling program on the Company's
100% owned Snowbird uranium project, located in the Athabasca Basin of northern
The Snowbird property straddles the southern edge of the Athabasca Basin within the
footwall of the Snowbird Tectonic Zone (SBTZ), a major reactivated, transcrustal structural feature that includes
the southwest strike extension of the Virgin River shear zone, which
hosts Cameco's Centennial Deposit, approximately 20 kilometres
northeast of JNR's property. At Centennial, a 650 metre long
mineralized zone with drill intersections of up to 8.78% U3O8 over 33.9 metres has been outlined at approximately 800 metres depth
(Formation Metals May 30, 2011 news release).
During the 2011 drilling program, a total of 1,190 metres were drilled
in nine holes. Four of these holes tested the northern end of the Snowbird conductive trend, and the remainder focused on the southern end. All of these structural/mineralized targets
are located within previously untested portions of a 20 kilometre long
electromagnetic (EM) graphite-sulfide-rich conductor system. Four of
the nine drill holes intersected significantly disrupted and locally
clay-altered Virgin River Group graphitic pelitic gneisses/schists and
variably uraniferous granitic pegmatites. All holes were drilled at a
-45 to -50 degree angle.
Multiple intervals of uranium and/or base metal mineralization were
intersected in the four holes (SB-11-01, -02, -08 and -09) that tested
the northern end of the Snowbird conductive trend, immediately east and
southeast of Westgate Lake and within 2-3 kilometres of the southern
margin of the Athabasca Basin. The best U intersections occur in drill
hole SB-11-09. Highly anomalous concentrations of base metals
accompanied by arsenic (As) and boron (B) enrichment are also present
in these drill holes.
SB-11-09 returned three uranium mineralized intervals over a 50 metre
downhole length; including a 2.00 metre interval of 20 ppm U, a 0.5 metre interval of 20 ppm U with anomalous B, and a 1.50 metre
interval of 17 ppm U with anomalous B.
Drill hole SB-11-02, closest to the Athabasca margin, returned eight
highly clay-altered intervals with highly anomalous As, up to 1,550
ppm, and B, up to 2,090 ppm, over a 100 metre downhole length. Some of
these intervals also showed anomalous cobalt (Co), copper (Cu) and
SB-11-01 intersected two highly clay-altered intervals over a 42 metre
downhole length; including a 6.0 metre interval of anomalous Cu and B.
The deeper parts of this drill hole intersected anomalous uranium and
associated bismuth mineralization over a 1.0 metre interval, with up to
25 ppm U.
Drill hole SB-11-08 returned multiple mineralized intervals of base
metals over a 36 metre downhole length; including several 1.0 metre
intervals with up to 86 ppm As, 282 ppm Cu, 88 ppm Ni, 109 ppm vanadium
(V) and 277 ppm B.
The five drill holes that tested the southern part of the conductive
trend also intersected numerous intervals that are anomalous in
pathfinder base metals; in particular, Co, Cu, Ni, V and zinc (Zn), and
associated in part with anomalous As and B.
Dave Billard, Vice President Exploration and Chief Operating Officer for
JNR states: "The extent and volume of highly altered prospective rocks
intersected along this conductive trend makes it promising for hosting
another significant basement-hosted uranium deposit in this part of the
Athabasca Basin. Also, the substantial metal and uranium endowment in
the Snowbird district, lack of sandstone cover and shallow depth to
mineralization, allows for efficient and timely exploration on these
The company is pleased with these geochemical results as they show the
significant uranium and metal potential within the Snowbird district.
They will be integrated within on-going exploration models to plan and
facilitate JNR's next phase of drilling new targets.
JNR's Director of Exploration, Dr. Irvine R. Annesley, PGeo, is the
qualified person responsible for the technical data presented in this
release. Samples were analyzed at the Saskatchewan Research Council
Geoanalytical Laboratories in Saskatoon, SK, a Standards Council of
Canada (CCRMP) certified analytical laboratory. 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: www.jnrresources.com/s/Glossary.asp.
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 news
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
SOURCE JNR Resources Inc.
For further information:
JNR Resources at 306.382.2211 or 877.567.6463