JNR Resources

Published : July 21st, 2011

Extends Areas of Uranium Mineralization at Way Lake

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Keywords :   Canada | Diamond | Rare Earth | Thorium | Uranium |

News Release - Thursday, July 21, 2011
JNR Extends Areas of Uranium Mineralization at Way Lake



Saskatoon, SK, July 21, 2011 - JNR Resources Inc. (TSXV:JNN) ('JNR' or the 'Company') is pleased to report geoanalytical results from the 2011 winter Diamond drilling program 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. Drilling has extended the Fraser Lakes Zone B to the east-northeast, and anomalous U-Th mineralization has been intersected in a new area, Fraser Lakes North.

The 2011 drilling program comprised 2,590 metres in 10 holes. Four holes tested the east-northeast extension of the Fraser Lakes Zone B. Six holes tested ancillary structural/mineralized targets related to the Fraser Lakes Zone B; located within previously untested portions of a folded, 65-km long electromagnetic (EM) graphite-sulfide-rich conductor system. Six of the 10 drill holes intersected anomalous radioactivity accompanied by significantly disrupted and locally clay-altered Wollaston Group graphitic pelitic gneisses and uraniferous granitic pegmatites.

Multiple intervals of uranium and/or thorium (U-Th) mineralization were intersected in four new holes (WYL-11-68, -69, -70, and -71; Table 1) that tested Fraser Lakes Zone B on its east-northeast end. The better U-Th intersections occur in drill holes WYL-11-68, -70 and -71, and are accompanied by highly anomalous concentrations of base metals and rare earth element (REE) enrichment. At a cut-off grade of 0.025% U3O8, the results from WYL-11-68 and -70 are impressive. To date, drilling of this zone has identified an extensive area approximately 1,250 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 to a depth of at least 175 metres.

Anomalous radioactivity was intersected within a new area, Fraser Lakes North, located 5 kilometres northeast of Fraser Lakes Zone B. Drill holes WYL-11-73 and -74 (Table 1) report low-grade, basement-hosted U-Th mineralization in graphitic pelitic gneisses and granitic pegmatites. These holes also exhibit evidence for major structural reactivation, significant clay alteration, uranium remobilization, and basinal brine fluid circulation.

The exceptional exploration potential of the Fraser Lakes area is further supported by geoanalytical results from PIMA infrared spectroscopy of four holes drilled in the T-Bone Lake area (News Release: June 17, 2010), located 4 kilometres west-southwest of Fraser Lakes North and due north of Fraser Lakes Zone B. These results indicate a preponderance of the important pathfinder mineral, illite, within a major clay-filled fault system that was intersected in 2010.

Dave Billard, Vice-President Exploration and COO for JNR, comments: "These results confirm that the Fraser Lakes district has significant exploration upside, with many targets having the potential to host high-grade uranium mineralization. Geological and geochemical features identified in the Fraser Lakes district show distinct similarities to high-grade, basement-hosted discoveries in the Athabasca basin, such as Cameco's Millennium and Hathor's Roughrider deposits".

Results from the 2011 drilling program continue to demonstrate the significant uranium and metal endowment within the Fraser Lakes district, and will be integrated within on-going exploration models to plan and facilitate JNR's next phase of drilling new targets.

Table 1. Fraser Lakes Area - Significant Drill Results

DDH#

From
(m)

To
(m)

Width
(m)

U3O8
%

ThO2
%

Other Metals (%)

WYL-11-68

164.00

166.00

2.00

0.029

0.031

Cu-0.015, V-0.012, Zn-0.013

172.00

173.00

1.00

0.074

0.088

Cu-0.017, Pb-0.025

173.50

174.50

1.00

0.035

0.039

Cu-0.074, Pb-0.011

209.50

211.00

1.50

0.028

Anomalous Th, Pb

212.00

213.50

1.50

0.05

0.031

Pb-0.015

232.80

233.50

0.70

0.034

Anomalous U, Cu, Pb, and Zn

281.60

282.10

0.50

0.076

0.181

Pb-0.02, Zn-0.019

 

 

 

 

 

 

 

WYL-11-69

135.50

136.50

1.00

0.033

0.039

Cu-0.012

137.50

138.00

0.50

 

Cu-0.044, V-0.009, Zn-0.008

 

 

 

 

 

 

 

WYL-11-70

99.50

100.00

0.50

0.051

Anomalous U

190.50

192.50

1.50

 

Cu-0.012, Ni-0.03, V-0.041, Zn-0.065

198.20

199.20

1.00

0.098

0.080

Pb-0.024, Zn-0.033

208.00

211.00

3.00

0.053

0.054

Mo-0.017, Pb-0.018, V-0.01

212.80

213.80

1.00

0.038

0.029

Pb-0.014, Zn-0.012

214.00

214.50

0.50

0.024

Anomalous Mo, Th

217.20

217.70

0.50

0.044

0.030

 

218.20

218.70

0.50

0.045

0.040

Mo-0.019

220.50

221.00

0.50

0.025

0.023

 

225.40

226.40

1.00

0.036

0.049

Cu-0.022, Mo-0.013, Zn-0.012

234.50

236.00

1.50

0.025

0.021

 

260.00

262.00

2.00

0.043

0.027

Anomalous Pb

 

 

 

 

 

 

 

WYL-11-71

144.50

145.50

1.00

 

0.046

 

148.00

149.50

1.50

 

Anomalous Th, V, Zn

150.50

151.00

0.50

 

0.047

Anomalous Mo, U

153.50

154.50

1.00

 

0.028

 

212.00

214.00

2.00

 

 

Cu-0.031, Ni-0.041, V-0.039, Zn-0.02

216.50

217.50

1.00

 

 

Cu-0.012, Ni-0.03, V-0.027

247.00

252.50

5.50

 

 

Cu-0.023, V-0.017, Zn-.014

287.75

288.00

0.25

 

Cu-0.51, V-0.015, Zn-.009

 

 

 

 

 

 

 

WYL-11-72

142.50

143.50

1.00

 

 

Ni-0.023, V-0.024, Zn-0.027

 

 

 

 

 

 

 

WYL-11-73

135.00

135.50

0.50

 

0.022

Anomalous U

197.50

203.00

5.50

 

Cu-0.023, Ni-0.039, V-0.041, Zn-0.061

including

197.50

199.00

1.50

0.002

0.002

Mo-0.01, Ni-0.049, V-0.056, Zn-0.176

 

 

 

 

 

 

 

WYL-11-74

41.00

43.50

2.50

 

Anomalous U, Th

123.00

125.50

2.50

 

 

Cu-0.011, V-0.016, Zn-.015

Note: All holes were drilled at a 45 to 50 degree angle across the lithostratigraphic/radioactive horizons on sections consisting of at least two drill holes. Widths represent downhole core lengths; true widths cannot be reliably estimated at this time. 0.025% U3O8 and 0.030% ThO2 cut-offs were applied.

JNR's Director of Exploration, Dr. Irvine R. Annesley, PGeo, is the qualified person responsible for the technical data presented in this release. Samples were analyzed at the Saskatchewan Research Council Geoanalytical Laboratories in Saskatoon, SK, a Standards Council of Canada (CCRMP) certified analytical laboratory. 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/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.

You can also view this News Release on our website at:
http://www.jnrresources.com/s/NewsReleases.asp?ReportID=468057


Copyright � 2010 JNR Resources Inc. (JNN-TSXV) All rights reserved. For more information visit our website at http://www.jnrresources.com/ or send email to info@jnrresources.com.
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JNR is a silver and gold exploration company based in Canada.

JNR holds various exploration projects in Canada.

Its main exploration properties are BELL LAKE, PENDLETON LAKE, KELIC LAKE, NORTH WEDGE, SOUTH DUFFERIN, SNOWBIRD PROPERTY, YURCHISON LAKE, TOPSAILS, SOUTH FORK, CRACKINGSTONE, MOORE LAKE, ROCKY BROOK, SOUTH CIGAR, LAZY EDWARD BAY, WAY LAKE, BLACK LAKE PROPERTY and NEWNHAM in Canada.

JNR is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 11.5 millions as of today (US$ 11.4 millions, € 8.4 millions).

Its stock quote reached its lowest recent point on December 31, 2003 at CA$ 0.03, and its highest recent level on December 31, 2007 at CA$ 4.50.

JNR has 114 620 000 shares outstanding.

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Financings of JNR Resources
11/6/2012Announces $3.0 Million Financing
5/7/2012Announces Closing of Private Placement
4/18/2012Announces Private Placement
3/14/2011Announces Closing of $2,810,000 Private Placement
2/24/2011JNR Announces $ 3.000.000 Private Placement
8/12/2010Increases Private Placement
11/12/2009Announces Closing of Private Placement
10/23/2009Private Placement
7/20/2009Increases Private Placement
12/30/2008Announces Closing Of Private Placement
12/19/2008Announces Private Placement
Option Grants of JNR Resources
8/16/2010Granting of Stock Options/Directors Re-elected
2/16/2008Announces Granting of Stock Options
Nominations of JNR Resources
10/22/2012Announces Re-Election of Directors and Planning of 2013 Prog...
2/15/2011Announces Appointment of Dave Billard, P.Geo. as Chief Opera...
5/16/2007Announces Appointment of New Director and Officers
Project news of JNR Resources
5/11/2012Commences Spring Drilling Program at Black Lake Uranium Proj...
10/6/2011(Topsails)/Altius Commence 2011 Fall Exploration Program at Topsails P...
8/18/2011Commences 2011 Summer Drilling Program at Snowbird Uranium P...
7/21/2011(Way Lake)Extends Areas of Uranium Mineralization at Way Lake
4/27/2011(Moore Lake)Announces Results of 2011 Moore Lake Winter Diamond Drilling...
3/30/2011(Way Lake)Commences 2011 Drilling Program at Way Lake Uranium Project
3/9/2011(Newnham)Completes Airborne Gravity Survey on the Newnham Lake Proper...
3/3/2011(Lazy Edward Bay)Completes Airborne Gravity Survey on the Lazy Edward Bay Pro...
12/22/2010(Moore Lake)Announces 2011 Winter Exploration Programs
6/17/2010(Way Lake)Extends Uranium Mineralization
4/20/2010(Way Lake)Completion of 2010 Drilling Program at Way Lake Uranium Proj...
4/7/2010(South Dufferin)Results of Airborne Surveys on the Snowbird-South Dufferin P...
1/14/2010(Way Lake)2010 Drilling Program at Way Lake Uranium Project
12/18/2009(Topsails)/Altius Discover Rare Earth Metals and Uranium-Thorium Miner...
11/30/2009(Topsails)Altius Discover Cu-Mo-Au-Ag Mineralization at Topsails
9/9/2009(Rocky Brook)Drilling Underway at Rocky Brook Uranium Project
7/21/2009(Topsails)Provides Exploration Update on Topsails Uranium Project, New...
7/16/2009(Way Lake)Intersects Uranium/Thorium Mineralization at Way Lake
5/14/2009(Rocky Brook)Earns 70% Interest in Rocky Brook Project -- Exploration Con...
2/27/2009(Way Lake)Provides Remaining 2008 Drilling Results from Way Lake
2/20/2009(Way Lake)Announces Drilling Program Underway at Way Lake Uranium Proj...
11/14/2008(Way Lake)Discovers New Mineralized Zones on Way Lake Uranium Project
8/25/2008(South Fork)Announces Drilling Results at South Fork Uranium Project
7/9/2008(Way Lake)Takes Delivery of Third Drill; Two Drills Active at Way Lake
5/12/2008(Way Lake)Announces Drilling Program Underway at Way Lake
4/9/2008(Crackingstone)Announces Results of Airborne Surveys on the Black Lake & Cr...
3/19/2008(Way Lake) Announces Results of 2007 Way Lake Exploration Program
2/28/2008(Moore Lake) Provides Further Update on Athabasca Basin Exploration Acti...
2/12/2008(South Fork) Announces Drilling Program on South Fork Uranium Project, S...
9/20/2007(Bell Lake)Announces Drilling Program Underway at Bell Lake
9/18/2007(Crackingstone)Airborne Surveys on the Crackingstone, Black Lake & Newnham ...
Corporate news of JNR Resources
11/14/2012Announces Agreement to be Acquired by Denison Mines Corp.
8/13/2012(Way Lake)Announces an Inferred Mineral Resource Estimate for the Fras...
6/13/2012Announces Drilling Results at Black Lake Uranium Project
2/3/2012Provides Update on 2012 Athabasca Basin Exploration Activiti...
10/7/2011Announces Granting of Stock Options/Directors Re-Elected
6/29/2011Continues to Develop 3D Exploration Models to Target New Ura...
5/4/2011(Way Lake)Intersects New Area of Uranium Mineralization on Way Lake Ur...
7/6/2010RB Milestone Initiates Coverage of JNR Resources Inc.
2/3/2009Announces Proposed Conversion Of Preferred Shares
11/25/2008San Francisco Hard Assets Investment Conference
8/29/2008Provides Update on Newfoundland Uranium Exploration
8/21/2008Provides Update on Athabasca Basin Drilling Programs
5/15/2008Provides Update on Newfoundland Uranium Exploration
2/26/2008 Announces Further 2008 Exploration Activities
1/21/2008 Announces 2008 Winter Exploration Programs Underway
12/20/2007JNR Updates Progress on Newfoundland Uranium Projects.
12/19/2007 Announces Drilling Programs for 2008
11/1/2007 Announces Completion of 2007 Way Lake Exploration Program
10/30/2007 Announces Purchase of Two Diamond Drills
10/3/2007 and Altius Form Uranium Exploration Alliance
9/12/2007Announces Airborne Survey Underway on South Fork Uranium Pro...
8/21/2007 and Altius Resume Uranium Exploration at Rocky Brook
5/14/2007to Option South Fork Project to Uranium Power Corporation
3/22/2007Announces Closing of $16 Million Financing
2/26/2007Announces $15 Million Financing
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