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| | Thu Jul 16, 2009
JNR Intersects Uranium/Thorium Mineralization at Way Lake
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| | Saskatoon, SK, July 16, 2009 - JNR Resources Inc. (TSXV:JNN) (the 'Company') is pleased to announce that it has now received the final results from its 2009 winter diamond drilling program on the Company's 100% owned Way Lake uranium project. The project lands are located 55 kilometres east of the Key Lake uranium mine in the Athabasca Basin of northern Saskatchewan and comprise 17 contiguous claims totalling 71,795 hectares.
A total of 2,699 metres was drilled in nineteen holes, with four holes abandoned due to poor overburden conditions. The drilling program tested a 1,500-metre strike length of the Fraser Lakes B zone, which occurs along the northern extent of a 5-kilometre-long, folded EM conductor comprised of Wollaston Group graphitic pelitic gneisses and uraniferous granitic pegmatites (news release: February 20, 2009). All holes were drilled at a 45 to 50 degree angle, heel to toe across the conductive horizon on sections consisting of two to four drill holes.
Multiple intervals of uranium and/or thorium mineralization were intersected in several drill holes (Table 1). This mineralization is accompanied by rare earth element enrichment and highly anomalous levels of pathfinder elements. Some of the better intersections occur in drill holes WYL-09-39, -41 and -50. At a grade cutoff of 0.029% U3O8, hole #39 returned seven mineralized intervals over a 30-metre downhole length, including a 0.15-metre intercept of 0.166% U3O8 and 0.112% thorium. The best result from hole #41 was 0.134% U3O8 and 0.77% thorium over 1.0 metres, while the best result from hole #50 was 0.183% U3O8 and 0.062% thorium over 1.0 metre.
Hole WYL-09-46 returned multiple intervals of thorium mineralization including 0.109% thorium and 0.013 % U3O8 over 7.0 metres. Highly anomalous concentrations of other metals are also present in a number of holes. Hole WYL-09-38 returned 0.117% copper, 0.056% nickel, 0.044% zinc, 0.068% molybdenum and 44 ppm uranium over 6.5 metres. Also of note is that the alteration and structural patterns associated with the mineralized intervals are analogous to the basement-hosted mineralization at Eagle Point, Millennium and P-Patch.
Table 1. Significant Drill Results
Note: Widths represent downhole lengths; true widths cannot be reliably estimated at this time.
The Company is pleased with these results as they indicate the presence of significant uranium and metal enrichment in the Fraser Lakes district. The lack of sandstone cover in this area and shallow depth to target (mineralization in outcrop) will allow for efficient and timely exploration.
Dr. Irvine Annesley, Director of Exploration for JNR states: "Recent discoveries in the Athabasca Basin have been made by focussed drilling along mineralized conductive trends. The Fraser Lakes conductive trend has numerous similarities to nearby basement-hosted uranium deposits, and will be targeted for more detailed exploration."
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: www.jnrresources.com/s/Glossary.asp.
ON BEHALF OF THE BOARD
Rick Kusmirski
President & CEO
For further information contact JNR Resources at 306.382.2211 or 877.567.6463
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. |
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