New Release out after market close yesterday:
Salut,
Leigh McBain
JNR RESOURCES INC. ("JNN-V;JNRRF-L")
- Further Exploration Planned For Athabasca Basin Properties
Mr. Dale W. Hoffman, President of JNR Resources Inc. (the "Company"), is pleased to report that further exploration of the Company's Athabasca Basin uranium properties will commence early in the New Year. Evaluation of 10 blocks of claims, totaling in excess of 250,000 ha, has been underway since 1997 as a strategic alliance between the
Company and Kennecott Canada Exploration Inc. Kennecott has indicated its intention to participate in the 1999 program by forwarding to the Company its $1,000,000 contribution towards for the current year's exploration program.
Exploration in 1999 will involve airborne and ground geophysics and drilling of clay alteration zones and uranium anomalies identified by the major lithogeochemical survey completed by the Company in 1998.
The 1999 program will commence on the Newnham Lake property located on the northeast edge of the basin about 75 km east of Stony Rapids. The 1998 lithogeochemical survey outlined two sandstone uranium anomalies on this property. One anomaly south of Newnham Lake which strikes
easterly for about 12 km, is 2 km wide contains consistently elevated uranium values together with lead and boron enrichment. A second smaller anomaly lies to the north of the lake. Based on the geochemical haloes around unconformity-type deposits in other parts of the basin, uranium enrichment in Athabasca sandstone is the most definitive indicator of economic uranium mineralization. Ground geophysics will be carried over both zones, followed by drilling.
Progress reports on the Newnham property as well as on the other properties in the basin will be released as soon as relevant information becomes available.
For further information regarding the Company and its properties, or to be receive the Company's news releases by e-mail, go to the JNR Resources web site, at www.jnrresources.com.
Dale W. Hoffman, President TEL: 1-800-661-4050
JNR RESOURCES INC.
TEL: (604) 684-5118
FAX: (604) 682-8566
Email: info@jnrresources.com
Internet: jnrresources.com |
