SASKATOON, SK, April 20 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company') is pleased to announce that it has completed a winter diamond drilling program on the Company's 100% owned Way Lake uranium project, located 55 kilometres east of the Key Lake uranium mine in the Athabasca Basin of northern Saskatchewan. Anomalous radioactivity and key geological features associated with basement-hosted uranium mineralization were intersected by a significant proportion of the holes drilled during the winter program.
The drilling program comprised 2,773 metres in 14 holes and focused on following up JNR's previous drilling and exploration of the Fraser Lakes B zones. These mineralized zones are contained within a 5-kilometre-long interval of a folded electromagnetic (EM) conductor system with a total length of 65 kilometres and comprised of Wollaston Group graphitic pelitic gneisses and uraniferous granitic pegmatites. The mineralized zones were discovered by ground prospecting of airborne geophysical targets during the summer of 2008.
The B Zone showings occur within an antiformal fold nose of the EM conductor. Of the 70 grab samples taken from individual mineralized outcrop sites, 70% returned assays ranging from 0.03 to 0.457% U(3)O8. Multiple intervals of uranium and/or thorium mineralization were intersected in many of the 18 drill holes completed in 2008 and 2009. The mineralization is accompanied by rare earth element enrichment and highly anomalous levels of pathfinder elements.
Anomalous radioactivity was intersected in the majority of holes drilled during the 2010 winter program. The radioactivity was accompanied by significantly disrupted and locally clay altered Wollaston Group graphitic pelitic gneisses (+/-sulphides) and granitic pegmatites. The drilling has also provided compelling evidence for the presence of major east-west and north-south structural corridors that intersect the main northeast-trending EM conductors. Similar structural and geological settings are required for the formation of major basement-hosted unconformity-type uranium deposits. In addition, preliminary analysis of the results from PIMA infrared spectroscopy has indicated a preponderance of illite in a major clay filled fault system that was intersected in holes WYL-10-53 and 55. Illite is an important clay mineral that accompanies many of the significant uranium deposits in the Athabasca Basin.
All of the samples have been delivered to the SRC Geoanalytical laboratory in Saskatoon and the final geochemical results should be received for evaluation by mid May. These results will be integrated with the PIMA and on-going structural studies to plan the next phase of drilling.
Ken Wasyliuk, Chief Geochemist for JNR comments: "The preliminary clay alteration patterns that we are seeing from the PIMA analysis are analogous to those at other significant basement-hosted uranium deposits such as Eagle Point, Millennium, P-Patch and the Roughrider Zone. In conjunction with the positive geological attributes and anomalous radioactivity, the potential for the discovery of significant high-grade uranium mineralization at Fraser Lakes is considerable."
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: 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 statements.
SOURCE JNR Resources Inc.
For further information: For further information: JNR Resources at (306) 382-2211 or (877) 567-6463