SASKATOON, April 1 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company') has finalized the interpretation of an airborne gradient magnetic geophysical survey flown over its 40% owned Lazy Edward Bay joint venture with Denison Mines. The 44,886-hectare property is located along the southern margin of the Athabasca Basin, approximately 75 kilometres west-northwest of the Key Lake uranium mine. JNR is the project operator and is in the process of earning a 49% interest in the project.
The 6,188 line-kilometre airborne gradient magnetic survey was flown over the entire Lazy Edward Bay property in the winter of 2010. This is the first unified magnetic survey flown over the property to date. Geophysically and geologically, the area is extremely complex. The newly acquired data has greatly enhanced previous smaller surveys that were flown over the past several years. Thirteen zones of interest, characterized by prospective magnetic settings and anomalies, have been identified. In addition to several new targets, the integration of these results with earlier ground and airborne geophysical surveys has further defined and upgraded existing targets for drill testing. With the completion of this latest survey, the project is at a stage where the results obtained to date are expected to be leveraged into drilling success.
The property is underlain by rocks of the Mudjatik Domain and is cut along its western portion by the Cable Bay shear zone (CBSZ), a highly prospective lithostructural corridor of regional extent. It is along reactivated corridors such as the CBSZ that uranium deposits of the Athabasca Basin are found. The maximum depth to the unconformity in the northern portion of the claims is 200 metres, with the southern portion of the claims lying outside of the Athabasca Basin proper. Previous geophysical surveys and drilling programs have identified the presence of several significant targets associated with EM conductors, major structural corridors, fertile basement lithologies, and highly anomalous geochemistry.
JNR Resources is a junior exploration company primarily focussed on uranium exploration and development in the provinces of Saskatchewan and Newfoundland. The company has a varied interest in several prospective uranium properties in the Athabasca Basin of northern Saskatchewan that have been and will continue to be the focal point of JNR's exploration efforts.
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 1-877-567-6463