JNR Provides Further Update on Athabasca Basin Exploration
February 28, 2008 - JNR Resources Inc. (TSXV:JNN) (the "Company") is
pleased to provide the following update on a number of uranium projects
that are jointly held with and operated by Denison Mines Corp.
(TSX:DML). The properties are located in the Athabasca Basin of
Key amongst these is the Moore Lake project, where uranium
mineralization has been intersected in several distinct areas
throughout the property, including high-grade mineralization within the
The 2008 exploration program which is focusing on the Maverick trend is
underway. One drill is currently operating on the project and an
estimated 9,000 metres of diamond drilling are planned. A geophysical
program, consisting of 60 kilometres of linecutting and a ground
resistivity survey, will also be carried out.
During 2007, two separate drilling campaigns were completed on the
Moore Lake project. The winter program consisted of 21 holes totalling
7,569 metres and focused on four regional grids, while the summer/fall
program consisted of 6 holes totalling 2,315 metres and focused on
select geological and geophysical targets within the Maverick Zone.
The winter program tested targets on the West Venice, Venice, Volhoffer
and West Maverick grids. The most significant results were obtained
from the fourteen reconnaissance holes drilled on the West Venice and
Venice grids. These holes typically intersected a strongly altered
(illite and dravite) and at times structurally disrupted sandstone
column, enriched in several pathfinder elements including uranium and
boron. The basement rocks included sheared and altered graphitic
pelites that were strongly enriched in metals such as copper, nickel,
lead, cobalt, zinc, with anomalous uranium levels (up to 130 ppm). The
West Venice and Venice grids occur along a 10-kilometre long and
500-metre wide structural corridor interpreted to be an extension of
the conductive system associated with mineralization in the Maverick
The winter program on the Moore Lake project also included 127
kilometres of linecutting and a ground EM survey over two new
prospective target areas; the 'Otter' grid & the 'Esker' grid. A
limited amount of historic drilling in these areas intersected a
structurally disrupted and geochemically anomalous sandstone column
with elevated pathfinder values in the basement lithologies. The EM
surveys identified well defined open-ended conductors that will require
additional drill testing.
Results are pending from the 2007 summer/fall program, which also
included a 2,460-kilometre airborne EM and magnetometer survey, a
nominal amount of linecutting and a resistivity survey.
Diamond drilling is also currently underway on the Bell Lake project.
The 2008 program will consist of 4 holes totalling 1,800 metres and
will test east-west trending EM conductors, some of which are
coincident with areas containing anomalous uranium in boulders. The
2008 winter program also includes 47 kilometres of linecutting and
ground geophysical surveys.
During the fall of 2007, 3 holes totalling 1,346 metres were completed
at Bell Lake. These holes tested EM conductors identified by a 160
kilometre linecutting and ground geophysical program. Geologically, the
results were encouraging in that they intersected strong alteration,
structural disruption and graphitic basement units. The analytical
results are pending.
On the North Wedge project a two-hole, 600-metre program is planned to
be carried out later this winter, while one hole totalling 400 metres
is planned for the South Cigar project.
The Company holds a 25% interest in the Moore Lake and South Cigar
projects, a 40% interest in the Bell Lake project and a 49% interest in
the North Wedge project, all of which are joint ventures with Denison.
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
President & CEO
For further information contact JNR 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.
Copyright (c) 2008 JNR RESOURCES INC. (JNN-TSXV) All rights reserved.
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