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Re: News Releases - Tuesday, September 18, 2007
JNR Announces Airborne Surveys on the Crackingstone, Black Lake &
Newnham Lake Uranium Projects
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Saskatoon, SK, September 18, 2007 - JNR Resources Inc. (TSXV:JNN) (the
'Company') has contracted Goldak Airborne Surveys to fly high
resolution gradient magnetic surveys over its 100% owned Crackingstone,
Black Lake and Newnham Lake uranium projects, located in the Athabasca
Basin of northern Saskatchewan. Approximately 15,700 line kilometres
will be flown in total. The results of these surveys will be used to
better define targets on the Black Lake and Newnham Lake projects for
drill testing during the 2008 winter campaign. This work is expected to
be completed by mid to late October, 2007.
The Crackingstone project comprises 10,665 hectares and is located near
Uranium City, adjacent to the north rim of the Athabasca Basin.
Historic work on the property dates back to the 1950's and 1960's and
was largely focused on the two southern claims that cover the
Crackingstone Peninsula. During that time period the Gulch deposit and
a number of uranium showings were discovered. A number of reserve
estimates have been published for the Gulch deposit, none of which
follow the prescribed terminology of NI 43-101. The most recent, a 1975
estimate by Gulch Mines Inc., reported "drill-indicated reserves" of
201,000 tons grading 0.09% U3O8 (0.05% cut-off) and "possible reserves"
of 315,000 tons at a similar grade. (Source: Mineral Bulletin MR213,
June 1986, Energy, Mines and Resources, Canada). JNR believes the
estimate to be relevant information but has not completed work
necessary to verify its reliability. In 2006, JNR conducted a
1,350-line kilometre VTEM survey that identified a number of promising
looking conductors for follow-up.
The Black Lake project comprises 41,783 hectares and is located along
the north rim of the Athabasca Basin, approximately 20 kilometres
southeast of the town of Stony Rapids and along the seasonal road to
that community. The property covers a 40-kilometre strike length of the
Snowbird/Black Lake structure, a major crustal feature that represents
the strike extension of the mineralized Virgin River shear (Centennial
Zone), located some 225 kilometres to the southwest. Prior exploration
by the Company includes a 1,400-line kilometre airborne magnetic and
MEGATEM survey flown over the property in 2005, and over 190 kilometres
of linecutting and ground EM carried out during the past two winters.
This work successfully identified a number of potential bedrock
conductors for drill testing that range two to eight kilometres in
length.
The Newnham Lake project comprises 27,723 hectares and is located on
the northeastern margin of the Athabasca Basin, approximately 50
kilometres east of the historic Nisto uranium deposit. The property was
staked after a review of historic work identified a number of
geological, geophysical and geochemical features typical of
unconformity-type uranium deposits. Prior exploration by the Company
includes a 1,550-line kilometre airborne EM and magnetic survey flown
in 2005 and a 900-line kilometre DIGHEM EM survey flown in 2006. Also
completed in 2006 was some 110 kilometres of linecutting and ground EM.
This work successfully identified a number of conductive and structural
trends, most notably a broad 15-kilometre long, east-northeast-trending
conductor associated with a metasedimentary assemblage within the
central portion of the property. This area is also characterized by a
large number of surficial geochemical anomalies in lake sediments,
peats and soils (up to 5000 ppm uranium.).
Details of follow-up programs will be finalized once the results from
the airborne surveys 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. 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 Sep 17, 2007 at 5:16:09 PM Pacific Time
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