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Re: News Releases - Thursday, January 14, 2010
JNR Announces 2010 Drilling Program at Way Lake Uranium Project
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Saskatoon, SK, January 14, 2010 - JNR Resources Inc. (TSXV:JNN) (the
'Company') is pleased to announce that a winter
Diamond drilling
program will commence shortly on the Company's 100% owned Way Lake
uranium project, located 55 kilometres east of the Key Lake uranium
mine in the Athabasca Basin of northern Saskatchewan. The Way Lake
project comprises seventeen contiguous claims totalling 71,795
hectares.
The planned drilling program comprises some 2,500 metres (fifteen to
twenty holes) and will focus on widespread outcrops of uranium
mineralization (+/- thorium and rare earth metals), referred to as the
Fraser Lakes uranium showings (Fraser Lakes A and B zones). These
mineralized zones are contained within a 5-kilometre-long interval of a
65-kilometre-long folded electromagnetic (EM) conductor system
comprised of Wollaston Group graphitic pelitic gneisses (+/-sulphides)
and uraniferous granitic pegmatites. The mineralized zones were
discovered by ground prospecting of airborne geophysical targets during
the summer of 2008, when close to 100 individual mineralized outcrop
sites were identified.
The B zone showings occur within an antiformal fold nose of the EM
conductor and are currently the more prospective of the two mineralized
zones. Over 70% of the grab samples taken from some 70 individual
mineralized outcrop sites assayed from 0.03 to 0.457% U3O8. The B zone
was tested by three drill holes at the end of the 2008 program. The
best results were from hole #525, which intersected numerous
uraniferous intervals. Of particular note was a 12.0-metre intersection
from 77.50 to 89.50 metres down hole that returned 0.081% U3O8;
including a 3.0-metre intercept of 0.193% U3O8 (true widths cannot be
reliably estimated at this time).
The 2009 drilling program tested a 1,500-metre strike length of the B
zone conductor and associated alteration system with fifteen completed
drill holes. Multiple intervals of uranium and/or thorium
mineralization were intersected in several drill holes. 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 metre, while the best result
from hole #50 was 0.183% U3O8 and 0.062% thorium over 1.0 metre.
The A zone showings occur within a synformal fold nose at the southern
end of the EM conductor, from which outcrop grab samples contained up
to 0.042% U3O8. Seven holes were drilled in this area, three of which
intersected broad zones of significantly altered and structurally
disrupted graphitic pelitic gneisses accompanied by anomalous levels of
pathfinder elements, particularly copper, nickel, vanadium, bismuth and
zinc.
Dr. Irvine Annesley, Director of Exploration for JNR comments: "The
Fraser Lakes district has numerous similarities to nearby
basement-hosted uranium deposits, such as Eagle Point, Millennium and
the Roughrider Zone. Furthermore, all of the drill targets identified
in the Way Lake project area have the potential for this kind of
basement-hosted uranium mineralization at or near surface."
The drilling program is expected to continue until late March/early
April. Results will be reported on once they have been received and
interpreted.
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
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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Copyright (c) 2010 JNR RESOURCES INC. (JNN-TSXV) All rights reserved.
For more information visit our website at http://www.jnrresources.com/
or send mailto:info@jnrresources.com
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