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% U(3)O(8). 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% U(3)O(8); including a 3.0-metre intercept of 0.193% U(3)O(8) (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
President & CEO
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.
SOURCE: JNR Resources Inc.
contact JNR Resources at (306) 382-2211 or (877) 567-6463