JNR/Altius Identify Additional Copper Mineralization and Stake New Claims on
Topsails Project, Newfoundland
TSXV:JNN
Email: [email protected]
Website: www.jnrresources.com
SASKATOON, SK, Oct. 25 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company') is pleased to provide the following update and results from the Topsails Uranium/Rare Earth Elements/Copper (U-REE-Cu) project in 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.
The 2010 program, budgeted at approximately $500,000, was initiated in July. It comprised an extensive regional- to district-scale prospecting, mapping, ground geophysics, trenching, soil, till, and stream sediment geochemistry program which continued through this fall. The program focused on six significant areas (Koorae Cu-Mo-Au-Ag prospect, Railway U showing, Sheffield Lake South Cu prospect, Long Range Mountain U-REE prospects A and B, and Catcher's Pond Cu prospect) identified by the 2008 and 2009 programs that returned highly anomalous geochemistry (see JNR News Releases -November 30, 2009 and December 18, 2009 for details). The 2009 work also identified a number of additional targets within and adjacent to the project claims that require further work.
Follow-up on one of these additional targets has resulted in the discovery of Cu mineralization within boulders and subcrop, with the subsequent staking of 124 new claims (3,100 hectares) to the west of the Koorae Cu-Mo-Au-Ag porphyry-style prospect. Forty grab samples have been analyzed with 25 of these returning Cu values over 1000 ppm and five of these returning Cu values of 1.07, 1.08, 1.48, 1.61 and 1.68 wt%. Twelve of the 40 grab samples also returned anomalous Au values between 12 and 285 ppb.
Outcrop, subcrop, boulder, soil, till, and stream sediment samples from this summer's exploration program have been submitted to the Saskatchewan Research Council's Geo-Analytical Laboratory for multi-element analysis. Further results will be released as they become available.
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 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
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.
%SEDAR: 00003829E
For further information:
For further information contact JNR Resources at 306.382.2211 or 877.567.6463
Share this article