SASKATOON, Jan. 5 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company') is pleased to announce geochemical results from the Koorae copper-molybdenum-gold-silver (Cu-Mo-Au-Ag) prospect on their Topsails Uranium/Rare Earth Elements/Copper (U-REE-Cu) project in west-central
Newfoundland. The Topsails project is a 50/50 alliance between the Company and Altius Resources
Inc. (jointly the 'Companies') that was established to explore for
volcanic-hosted uranium deposits in a defined area of west-central
Newfoundland near the mining community of Buchans.
Highlights from grab samples collected from the main 235 m long area
exposed at the Koorae prospect include 0.84% Cu, 0.9 g/t Ag, and 0.02%
Mo, and up to 0.41% Cu within its eastern extension. South of the main
mineralized area up to 0.91% Cu, 3.9 g/t Ag, and 0.008% Mo has been
observed. At the West Trench, discontinuous base metals mineralization
with up to 0.20% Cu and 0.22% Pb was identified.
The 2010 exploration program, budgeted at approximately $500,000,
focused on the Koorae Cu-Mo-Au-Ag prospect and five other significant areas (Railway U showing, Sheffield Lake South Cu prospect, Long Range Mountain U-REE prospects A and B, and Catcher's Pond Cu prospect). Extensive trenching of the Koorae prospect area was carried out; including extending the main porphyry
zone of Cu mineralization to a length of >200 metres and excavating
additional trenches over nearby soil geochemical anomalies. Detailed
geological mapping and extensive sampling were completed on all the
trenches, as well as an IP/Resistivity survey over the prospect area.
In 2008, reconnaissance prospecting on the Topsails Project resulted in the discovery of mineralized boulders which
returned assays up to 3.5% Cu, 0.12% Mo, 35.1 g/t Ag, and 0.18 g/t Au.
Follow-up trenching, mapping, and sampling (rock and soil) in 2009
identified a mineralized area approximately 100 metres by 15 metres in
size and consisting of disseminated and fracture-related copper
mineralization in quartz-feldspar porphyry (QFP), altered volcanic
rocks, and tectonized granite. (See JNR News Release of November 30,
The western extension of the main mineralized trench is dominated by QFP
with lesser amounts of mafic and felsic volcanic rocks, and mafic
dykes. Copper mineralization is ubiquitous in the porphyry with
samples returning up to 0.84% Cu, 0.9 g/t Ag, and 0.02% Mo. The eastern
extension of the main trench, comprising altered felsic volcanic rocks
with lesser amounts of mafic dykes and quartz diorite, reveals a
portion of the previously identified high-grade zone. Significant Cu
mineralization occurs in this excavation with up to 0.29% Cu, 1.5 g/t
Ag, and 0.07% Mo from welded tuffs and 0.41% Cu from a rhyolitic flow.
The south trench (south of the main mineralized area), is comprised of
weakly to moderately foliated granodiorite and lesser mafic dyke(s). Cu
mineralization has been observed in the granodiorite with samples
returning up to 0.91% Cu, 3.9 g/t Ag, and 0.008% Mo.
The West Trench (located approximately 500 metres west of the main
mineralized area) is dominated by massive mafic volcanic rocks with
lesser felsic volcanic rocks (dykes?). Mineralization is irregular with
up to 0.20% Cu and 0.22% Pb within altered mafic volcanic rocks with
quartz-epidote veinlets, malachite, pyrite, and galena.
The last three trenches (North Trench #1, North Trench #2, and East
Trench) are comprised entirely of QFP. Minor Cu mineralization has been
observed in the East trench, whereas the two North trenches are
essentially unmineralized. Hematite alteration in all three trenches is
less extensive than that of the main Koorae showing.
As part of their 2011 Topsails exploration program, the Companies are
planning additional soil geochemistry surveys and trenching, to further
extend the Koorae prospect area.
JNR is led by a highly experienced management team with proven discovery
success in uranium exploration. In addition to its projects in
Newfoundland, the Company has an interest in fourteen properties
totalling some 340,197 hectares of highly prospective ground in the
renowned Athabasca Basin of northern Saskatchewan.
JNR's Director of Exploration, Dr. Irvine R. Annesley, P.Geo., is the
qualified person responsible for the technical data presented in this
release. All samples were analysed at the Saskatchewan Research Council
Laboratory in Saskatoon, an ISO/IEC 17025:2005 accredited facility. 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
SOURCE JNR Resources Inc.
For further information:
contact JNR Resources at 306.382.2211 or 877.567.6463