JNR Extends Uranium Mineralization at Way Lake
TSXV:JNN
Email: [email protected]
Website: www.jnrresources.com
SASKATOON, June 17 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company') is pleased to announce that it has received all of the analytical results from its 2010 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 2,773 metres were drilled in 14 holes, with seven of these further testing and extending the Fraser Lakes B zone, which occurs within a 5-kilometre-long interval of a tightly folded EM conductor system comprised of Wollaston Group graphitic pelitic gneisses and uraniferous granitic pegmatites (news release: February 20, 2009). The mineralized zones were discovered by ground prospecting of airborne geophysical targets during the summer of 2008. Drilling to date on the Fraser Lakes B zone has now identified an extensive area approximately 1000 metres long by 650 metres wide of moderately dipping, multiple stacked uranium and thorium mineralized horizons, which are open to the southwest and east-northeast, and at depth to at least 125 metres. All holes were drilled at a 45 to 50 degree angle across the radioactive horizons on sections consisting of two to four drill holes.
Multiple intervals of uranium and/or thorium mineralization were intersected in six of the eight holes that tested the Fraser Lakes B Zone (Table 1). The better intersections occur in drill holes WYL-10-51, -58, -61, -62, and -64. In addition to the uranium and thorium mineralization, highly anomalous concentrations of base metals accompanied by rare earth element (REE) enrichment are also present. At a grade cutoff of 0.025% U(3)O(8), the results from WYL-61, -51 and 58 in particular are impressive. Hole WYL-10-61 returned a grade of 0.057% U(3)O(8) over 5 m., including 0.242% U(3)O(8) over 0.5 m. WYL-10-58 returned ten uranium mineralized intervals over a 65-metre downhole length; including a 5.50 metre interval of 0.026% U(3)O(8), a 3.00 metre interval of 0.041 U(3)O(8), a 1.00 metre interval of 0.041 U(3)O(8) with 0.046% ThO(2), and a 0.50 metre interval of 0.209% ThO(2) with 0.20% U(3)O(8). Drill hole WYL-10-51 returned five mineralized intervals over a 50-metre downhole length, including a 3.00-metre intercept of 0.0.064% U(3)O(8), that included 0.179% U(3)O(8) and 0.059% ThO(2) over 0.5 metres.
Table 1. Significant Drill Results
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Grade% Grade%
(U(3)O(8)) (ThO(2))
(cutoff (cutoff
greater greater
From To Width than than Other
DDH No. (m) (m) (m) 0.025) 0.050) Metals %
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WYL-10-51 163.5 163.75 0.25 0.073 0.050
---------------------------------------------------------------
164.15 164.4 0.25 0.054 Ni-0.026, V-0.038
---------------------------------------------------------------
165.5 167.5 2.00 Cu-0.024 Mo-0.005,
---------------------------------------------------------------
182.0 186.0 4.0 Cu-0.03, Mo-0.013,
Ni-0.065, V-0.049
---------------------------------------------------------------
192.0 193.1 1.1 0.049 Anomalous Cu, Mo,
Ni, V
---------------------------------------------------------------
203.5 206.5 3.0 0.064 Zn-0.02
Incl. 0.5 0.179 0.059
---------------------------------------------------------------
215.0 216.0 1.0 0.076
-------------------------------------------------------------------------
WYL-10-53 39.5 40.4 0.9 0.055 Anomalous B, Pb, V
-------------------------------------------------------------------------
WYL-10-57 40.0 41.5 1.5 0.037
---------------------------------------------------------------
43.5 45.5 2.0 0.038
---------------------------------------------------------------
47.5 48.5 1.0 0.069 0.047 Zn-0.044
---------------------------------------------------------------
77.25 77.75 0.5 0.033
-------------------------------------------------------------------------
WYL-10-58 74.5 79.5 5.0 (5-193 Cu-0.033, Ni-0.020,
ppm) V-0.015, Zn-0.045
---------------------------------------------------------------
90.5 91.0 0.5 0.064
---------------------------------------------------------------
91.5 97.0 5.5 0.026 Anomalous Pb, Th, Zn
---------------------------------------------------------------
99.5 100.5 1.0 0.045 Anomalous Pb, Th, Zn
---------------------------------------------------------------
101.0 101.5 0.5 0.065 Anomalous Pb, Th, Zn
---------------------------------------------------------------
107.5 108.0 0.5 0.039 Anomalous Pb, Th, Zn
---------------------------------------------------------------
110.5 111.0 0.5 0.020 0.209 Anomalous Mo, Zn
---------------------------------------------------------------
112.5 113.5 1.0 0.034 0.046 Anomalous Mo, Zn
---------------------------------------------------------------
120.5 123.5 3.0 0.041 Anomalous Pb, Th
---------------------------------------------------------------
128.0 129.0 1.0 0.039 Anomalous Pb, Th
---------------------------------------------------------------
139.0 139.5 0.5 0.043 Anomalous Pb, Th
-------------------------------------------------------------------------
WYL-10-61 127.5 128.0 0.5 0.075
---------------------------------------------------------------
128.0 130.5 2.5 Anomalous Cu, Ni, V
---------------------------------------------------------------
130.5 135.0 4.5 0.034 Anomalous Pb, Th
---------------------------------------------------------------
158.0 163.5 5.0 0.057 0.056 Mo-0.0141,
Pb-0.0153, Zn-0.011
Incl. 0.5 0.242 0.254
---------------------------------------------------------------
166.5 167.0 0.5 0.052 Anomalous Mo, Pb,
Th, Zn
-------------------------------------------------------------------------
WYL-10-62 68.1 68.6 0.5 0.046 Anomalous Cu, Mo,
Pb, Th, Zn
---------------------------------------------------------------
81.0 85.0 4.0 0.051 Mo-0.016, Pb-0.015
Th-0.036, Zn-0.022
---------------------------------------------------------------
90.5 94.5 4.0 0.056 Cu-0.033, Pb-0.019
Th-0.038, Zn-0.01
---------------------------------------------------------------
111.5 112.5 1.0 0.03
---------------------------------------------------------------
-------------------------------------------------------------------------
WYL-10-63 108.7 110.2 1.5 0.03 Anomalous Cu, Pb, Th
---------------------------------------------------------------
-------------------------------------------------------------------------
WYL-10-64 60.50 62.5 2.0 0.069 0.046 Anomalous Mo, Pb
---------------------------------------------------------------
77.00 78.0 1.0 Cu-0.049
---------------------------------------------------------------
79.50 80.5 1.0 0.055 0.059 Anomalous Pb
---------------------------------------------------------------
81.60 82.6 1.0 0.046 Anomalous Pb, Th
---------------------------------------------------------------
85.60 86.1 0.5 0.029 Anomalous Pb, Th
---------------------------------------------------------------
88.70 91.7 3.0 0.043 Anomalous Pb, Th
Incl. 0.5 0.126
-------------------------------------------------------------------------
The remaining holes tested select targets on the 65 kilometre long, folded electromagnetic (EM) conductor system. Anomalous radioactivity and U mineralization were intersected in two of these (WYL-10-53 and 55). The mineralization was accompanied by significantly disrupted and locally clay-altered Wollaston Group graphitic pelitic gneisses (+/-sulphides) and granitic pegmatites. Furthermore, the major clay-filled fault system that was intersected in these holes yielded PIMA results that indicate a preponderance of illite, an important clay mineral that accompanies many of the significant uranium deposits in the Athabasca Basin.
The 2010 winter drilling has also provided compelling evidence for the presence of major east-west and north-south structural corridors that intersect the main northeast-trending EM conductors. These structural intersection zones are significant, considering their host rock lithological units, their mineralized alteration patterns, and their similarities to basement-hosted mineralization found elsewhere (e.g. at Eagle Point, Millennium, P-Patch, and Roughrider Zone).
The Company is pleased with these new results as they provide further evidence of the significant uranium and metal endowment in the Fraser Lakes district. The lack of sandstone cover in this area and shallow depth to mineralization (from outcrop to 125 metres depth) allows for efficient and timely exploration.
Dr. Irvine Annesley, Director of Exploration for JNR states: "The Fraser Lakes conductive trend is proving to be quite metal-rich and aerially extensive, as well as showing evidence of major structural reactivation, significant clay alteration, and basinal brine fluid circulation. These are all prominent characteristics of nearby basement-hosted uranium deposits, and thus will be followed-up by 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
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: contact JNR Resources at 306.382.2211 or 877.567.6463
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