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Re: News Releases - Tuesday, August 21, 2007
JNR and Altius Resume Uranium Exploration at Rocky Brook
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Saskatoon, SK, August 21 - JNR Resources Inc. (TSXV:JNN) and Altius
Minerals Corporation; jointly the "Companies" are pleased to report on
the results of the 2006 exploration program and announce that the 2007
Diamond drilling program on the Rocky Brook uranium property is
underway. Located in western Newfoundland, Canada, exploration at Rocky
Brook is focused on the discovery of bedrock sources for two discrete
high-grade boulder clusters in glacial till, with reported historical
assays ranging from 1% to more than 10% U3O8 as well as very high-grade
silver contents.
The 2006
Diamond drilling program was carried out between July and
December and consisted of 65 holes totalling 2,881 metres. Highlights
include the best mineralization intersected to date on the property, in
two holes located approximately 50 metres east of the Wigwam Brook
boulder field and within a broad 700-metre long drill-defined
radioactive bedrock anomaly. The anomalous radioactivity appears to be
stratigraphically controlled and occurs within a hematized sandstone
unit bounded by interpreted reverse faults. RB-06-117 intersected a
grade equivalent (downhole-probe result) of 0.54% U3O8 over 0.10 metre
within a 0.4-metre interval that assayed 0.075% U3O8 and 4.4 ppm
silver. Fifty metres to the south, RB-06-127 intersected a 0.5-metre
interval of 0.080% U3O8, 1030 ppm copper and 2.2 ppm silver. Both
intersections occur at shallow depths just below the overburden/bedrock
interface. Other significant mineralization intersected in the Wigwam
Brook area includes a 0.5-metre interval in RB-06-126, located 10
metres east of hole RB-06-117, that assayed 0.021% U3O8, 900 ppm copper
and 5.2 ppm silver.
Anomalous radioactivity was encountered in several holes drilled
immediately northwest of the Birchy Hill Brook boulder anomaly. The
radioactive zones occurred immediately below the overburden/bedrock
interface and are associated with hematized sandstone and mudstone
units. The drill holes tested a prominent magnetic lineament,
interpreted cross structures and a colour-defined redox boundary.
The 2006 airborne geophysical program was completed in July 2006 and
consisted of approximately 1,200 line kilometres of radiometric,
magnetic and electromagnetic surveying over the Rocky Brook claims. The
program identified several prominent magnetic and radiometric anomalies
in the areas of the historic Wigwam Brook, Birchy Hill Brook and Goose
prospects, as well as a number of anomalous zones elsewhere. The
radiometric survey proved to be the most effective in locating and
extending a number of radioactive boulder trains.
The planned 2007 exploration program is budgeted at just over $600,000
and includes 3,000 metres of
Diamond drilling and a nominal amount of
trenching. The drilling program will focus on the Wigwam Brook area
where the results to date indicate a complex stratigraphic/structural
control to the mineralization and geochemical enrichment, and the
Birchy Hill Brook area. An environmentally low-impact trenching program
will be carried out in the Wigwam Brook area.
Samples were analysed at the Saskatchewan Research Council Laboratory
in Saskatoon. 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
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
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Copyright (c) 2007 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
Message sent on Mon Aug 20, 2007 at 4:50:48 PM Pacific Time
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