SASKATOON, SK, Sept. 17 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company') has finalized the interpretation of airborne geophysical surveys flown over its 100% owned Black Lake and Newnham Lake uranium projects located in the Athabasca Basin of northern Saskatchewan. These results have been integrated with prior ground and/or airborne geophysical surveys to further define targets for drill testing.
At Black Lake, a 3,289 line-kilometre gravity gradiometer survey was flown in the fall of 2008. This survey provided additional geological information, both near surface and at depth, and defined new targets for drilling. Seven gravity targets having a range of characteristics common to Atahabasca uranium deposits were identified.
During the spring of 2009, a 350 line-kilometre AirMT (ZTEM) test survey was flown over the southern part of the Black Lake property and better delineated the deeper EM conductors. Also completed was the reprocessing of the 2005 Megatem data by Condor Consulting, which defined five 'zones of interest' in the central part of the property coinciding with the gravity anomalies.
At Newnham Lake a 4,243 line-kilometre gradient magnetic survey flown in the spring of 2008 identified a number of interesting magnetic settings and anomalies. This was followed up by a 1,547 line-kilometre high-resolution ZTEM survey. Seven initial 'zones of interest' were selected on the basis of a favourable geophysical/geological correlation.
Over the past four years, the Company has carried out a number of exploration programs on the Black Lake and Newnham Lake projects and advanced both to the 'drill-ready' stage. To that end, the Company plans to leverage its equity in these projects and is actively seeking partners to fund an extensive 2010 drilling campaign.
The Black Lake project comprises 41,783 hectares and is located along the north rim 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/Black Lake tectonic zone, a major transcrustal structural feature that represents the strike extension of the mineralized Virgin River shear (Centennial Zone) located some 225 kilometres to the southwest.
The Newnham Lake project comprises 27,723 hectares and is located on the northeastern margin of the Athabasca Basin, approximately 50 kilometres east of the historic Nisto uranium deposit. Historic work on the property identified a number of geological, geophysical and geochemical features typical of unconformity-type uranium deposits. Of particular interest are a number of conductive and structural trends, most notably a broad 15-kilometre long, east-northeast-trending conductor associated with a metasedimentary assemblage within the central portion of the property. This area is also characterized by a large number of surficial geochemical anomalies in lake sediments, peats and soils (up to 5,000 ppm uranium).
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