SASKATOON, SK, June 13, 2012 /CNW/ - JNR Resources Inc. (TSXV:JNN) ('JNR' or the 'Company') is pleased to report encouraging analytical results from the recently completed diamond drilling program on the Company's 100% owned Black Lake uranium project, located in the Athabasca Basin of northern Saskatchewan.
The Black Lake project is situated along the north edge of the Athabasca Basin, approximately 20 kilometres southeast of the town of Stony Rapids and along the all-weather road to that community. The property covers a 40 kilometre strike length of the Snowbird tectonic zone, a major transcrustal structural feature that includes the Black Lake fault zone; a strike extension of the mineralized Virgin River shear zone (Centennial Zone) located some 225 kilometres to the southwest (Formation Metals news release May 30, 2011).
During the 2012 drilling program, a total of 966 metres were drilled in two holes. These two vertical holes tested the hanging wall of the Black Lake conductive fault zone, within previously untested portions of a 40 kilometre long electromagnetic (EM) graphite-sulfide-rich conductor system.
Drill hole BL-12-05 intersected two clay-altered and hematite-stained intervals over a 10 metre downhole length immediately below the unconformity, including a 2.0 metre interval with up to 231 ppm uranium (U) and up to 255 ppm boron (B). This 10 metre interval also returned anomalous pathfinder base metals, including arsenic, cobalt, nickel, and vanadium. A 1.5 metre interval of highly fractured basement rocks, some 70 metres below the unconformity, returned anomalous copper, up to 181 ppm.
Drill hole BL-12-06, 2,000 metres to the NNE and closest to the Athabasca basin margin, returned two bleached and clay-altered intervals at and below the unconformity. The latter 1.0 metre interval is hosted within a reactivated breccia zone, with up to 184 ppm B and elevated U.
Results from this drilling and previous JNR drilling in 1998 suggest a minimal offset of at least 70 to 80 metres on the Black Lake fault after deposition of the Athabasca Basin, which is very important for controlling fluid and heat flow responsible for the formation of unconformity-type U deposits.
The next round of drilling will follow up the results from the most recent program, as well as focus on a number of high priority geophysical and structural targets previously identified.
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 statements.
For further information:
contact JNR Resources at 306.382.2211 or 877.567.6463