SASKATOON, March 19 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company')
is pleased to announce the results of the 2007 helicopter-supported
exploration 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. The Way Lake project comprises 17 contiguous claims
totalling 71,795 hectares.
The 2007 program cost roughly $2.5 million and represents the first
significant exploration carried out on the project lands in over 25 years. It
consisted of a major prospecting campaign carried out over the entire Way Lake
project area; 125 kilometres of linecutting, Horizontal Loop EM and ground
magnetics, as well as a detailed 700 line-kilometre airborne VTEM survey over
the Hook Lake showing and previously un-surveyed claims in the southeastern
portion of the property; an orientation bulk till sampling survey and the
completion of fourteen diamond drill holes totalling 2,467 metres.
The prospecting program resulted in the discovery of three new uranium
showings (West Way, EWA and Nob Hill) as well as a broad area in the southwest
corner of the property (Walker Lake showings) that contains several outcrops
returning anomalous radioactivity. The best results were obtained in grab
samples from the West Way (up to 0.475 % U(3)O8) and EWA (up to 0.492 %
The newly discovered West Way occurrence is located approximately 6.5
kilometres due north of the Hook Lake area. Anomalous radioactivity was
identified at the north end of a 1.0-kilometre long ridge of discontinuous
outcrops. The corresponding uranium mineralization is vein type and associated
with a northeast-trending shear zone accompanied by molybdenite-bearing
calc-silicate alteration. Grab samples from the shear zone returned values of
0.072 to 0.475% U(3)O8 along with anomalous levels of pathfinder elements such
as lead (up to 1,480 ppm) and boron (up to 212 ppm).
At Nob Hill, 14 kilometres to the southwest of the Hook Lake area, summer
prospecting discovered a north-northeast trending granitic pegmatite cut by
cross cutting fractures with zones of anomalous radioactivity. The
mineralization is vein-type and occurs within dilational zones similar to
those that host the uranium mineralization at Cameco's Eagle Point uranium
mine and at the Beaverlodge and Karpinka Lake deposits. Grab samples returned
values of 0.130% and 0.141% U(3)O8 and up to 634 ppm lead.
The newly discovered EWA zone is located in the southwest corner of the
property, approximately 19 kilometres southwest of Nob Hill and proximal to a
northeast-trending conductive zone identified by the airborne VTEM survey. The
uranium mineralization occurs within a 10- to 20-metre wide,
northeast-trending sheared pelitic unit accompanied by granitic inliers, and
has been traced over a minimum strike length of 85 metres. Several grab
samples were obtained from the shear zone and returned values of 0.064 to
0.492% U(3)O8 and up to 1,300 ppm lead.
The Walker Lake showings occur over a 3.0-kilometre long by 1.0-kilometre
wide area along the east central side of Walker Lake, 2.0 kilometres east of
the EWA zone. These showings consist largely of granite and pegmatite
outcrops, grab samples from which returned values of 0.017 to 0.079% U(3)O8.
This area is also proximal to a northeast-trending conductive zone.
The airborne VTEM and ground EM surveys identified and better defined
some 60 kilometres of virtually untested, complexly folded EM conductors in
the southern portion of the property. The few historic holes drilled in this
area intersected abundant sulphide-rich, graphitic pelitic gneisses with
radiogenic granitic pegmatites that are structurally disrupted and strongly
clay altered. These features are common to uranium deposits in the Athabasca
Basin, which bodes well for the potential of these conductors to host uranium
The diamond drilling program met with mixed results. Initially, some
thirty holes were planned for the Hook Lake area, but contractor delays
resulted in lower than budgeted production levels and prevented a thorough
evaluation of the area. Although no high-grade uranium mineralization was
intersected, all fourteen holes intersected significant structural features
composed of brittle fracturing and/or ductile-brittle shearing with anomalous
pathfinder geochemistry in several.
In total, eight holes (WYL-07-01 to -04 and -06 to -09) tested the
vicinity of the Hook Lake showing. WYL-07-01, which collared in high-grade
rubble, intersected a 3.0-metre wide zone of anomalous radioactivity beginning
at 14.5 metres downhole. The best result obtained in the hole was 0.117%
eU(3)O8 over 0.8 metres. WYL-07-02 intersected a 3.5-metre wide zone of
anomalous radioactivity beginning at 20.2 metres downhole, with the best
result being 0.119% eU(3)O8 over 2.6 metres. Nickel and lead enrichment
accompanied the mineralized intervals.
Four holes (WYL-07-05 and -10 to -12) tested a minimum 1.0-kilometre
long, geophysically interpreted lineament located to the northwest of the
showing. All four holes intersected a broad, ~20-metre wide northeast trending
ductile-brittle fault, which correlates with the lineament and is locally
enriched in uranium and pathfinder elements. The fault occurs some 80 to 90
metres from the showing and is interpreted to represent the structure that
controls the uranium mineralization at Hook Lake.
Two drill holes (WYL-07-13 and -14) tested the down dip extent of the
West Way mineralized shear zone at shallow depths and confirmed the presence
of a well defined and altered structure. In WYL-07-13, the structure contained
significant sulphide mineralization and returned anomalous copper (up to 1,900
ppm/0.5 metres), nickel, cobalt, arsenic and vanadium values, and locally
elevated uranium and lead.
JNR's Director of Exploration, Dr. Irvine R. Annesley, comments: "The Way
Lake project is an excellent exploration play with significant uranium values
obtained over an extensive area. I am excited about the prospects of
discovering a near-surface uranium deposit within this fertile geological
environment. The next step is to drill all of these targets."
A planned 10,000-metre drilling program at Way Lake will resume following
spring break-up. This program will continue the evaluation of the Hook Lake
area with testing of the newly discovered uranium showings, as well as testing
of the extensive conductor system and coincident uranium occurrences in the
southern part of the property. To ensure that its drilling objectives are met
in a timely fashion, the Company will utilize its two new Duralite diamond
drills that are currently operating on the Company's 100% owned Black Lake
JNR's Vice-President of Exploration, David L. Billard, PGeo, is the
qualified person responsible for the technical data presented in this release.
Samples were analysed at the Saskatchewan Research Council Laboratory in
Saskatoon. 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