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Re: News Releases - Friday, November 14, 2008
JNR Discovers New Mineralized Zones on Way Lake Uranium Project
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Saskatoon, SK, November 14, 2008 - JNR Resources Inc. (TSXV:JNN) (the
'Company') is pleased to announce initial results from its 2008
exploration program, including the discovery of widespread outcrops of
uranium mineralization on its 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.
The 2008 helicopter-supported program consisted of
Diamond drilling and
prospecting. A total of 48 holes comprising 11,985 metres were drilled
on a variety of targets including the previously discovered EWA, West
Way, Nob Hill, and Hook Lake showings, the Walker Lake conductive trend
and a broad zone of newly discovered surface mineralization in the
Fraser Lakes area.
The Fraser Lakes uranium showings (Fraser Lakes A and B zones) were
identified by ground prospecting of airborne geophysical targets in the
southern half of the Way Lake property, some five kilometres east of
the Walker Lake conductive trend. The mineralized zones are proximal to
a 5-kilometre-long folded EM conductor comprised of Wollaston Group
graphitic pelitic gneisses and uraniferous granitic pegmatites.
The B zone showings occur along the northern extent of this conductor
and are currently the more significant of the two mineralized zones.
Nearly 70 individual mineralized outcrop sites were identified over a
500-metre-wide by 1.5-kilometre-long area. Although only preliminary
results are available at this time, uranium values in the grab samples
assayed to date range from 0.044 to 0.453% U3O8. Over 85% of the
samples have yet to be analyzed.
The B zone was tested by three drill holes (WYL-08-524 to 526) at the
end of the 2008 program. Although they could not test the optimum
target, namely the graphitic pelite/pegmatite contact that occurs
beneath muskeg, all three intersected uranium and thorium
mineralization accompanied by rare-earth element enrichment and
anomalous levels of pathfinder elements. 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 A zone showings occur at the southern end of the conductor. Three
holes (WYL-08-510 to 512) were drilled in the area and intersected
significant alteration and structural disruption accompanied by
anomalous levels of pathfinder elements. Results from the radioactive
outcrop samples are pending.
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 and Millennium.
Furthermore, the presence of previously unrecognized uranium
mineralization over such a large area speaks to the high potential for
a significant discovery. This area will certainly be the focal point of
our drilling activities in 2009".
Major zones of structural disruption accompanied by alteration and weak
to moderate levels of radioactivity were identified in all of the other
areas targeted by the 2008 drilling program. Analytical results from
these holes are pending and 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. 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
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this 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) 2008 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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