I have followed the thread on DEN and quite accidently I am curious to
explore the potential relationship between JNN (JNR Resources V.) and
Denison.
The other part of the Mistery being FTP Fort Point Resources which has
doubled in the last few weeks and had a private placement last July 06
at the same time and from the same person as JNN, which has had some
action of late as well.
I am NOT aware of any connection, it just struck me that JNN, (will
attach one of the releases)will need help from a big guy.... and who
else would that be?????
Stockwatch: JNR Resources Inc - News Release
(newsout@canada-stockwatch.com,
Thu 18:51)
To:
adjuster@hawk.igs.net
Uranium exploration
activities
JNR Resources Inc
JNN
Shares issued 12,935,250 Mar 20 close
$0.71
Thu 20 Mar 97 News
Release
Mr Dale Hoffman reports
L.S. Beck has provided the following summary of the company's activity
with
respect to uranium exploration:
URANIUM EXPLORATION
JNR is actively exploring for uranium and is currently acquiring
properties
in the more prospective parts of Saskatchewan and the
Northwest
Territories.
SASKATCHEWAN
Saskatchewan, with its world class unconformity-type uranium deposits
of
the Athabasca Basin, is the top priority area for the company.
The company is carrying out a systematic program of ground
acquisition
based on the following criteria:
proximity to known deposits;
favourable basement lithology;
proximity to major structures;
presence of favourable indicators such as mineralized boulder
trains,
alteration haloes in the Athabasca Formation and the presence
of
geophysical and geochemical targets.
To date seven blocks of ground, totalling 450,000 plus acres have
been
acquired.
KEY LAKE AREA
The property consists of six contiguous claims covering about 50,000
acres,
five miles northeast of the Key Lake Mine (75,000 tonnes U at 2.45%).
The claims are partly underlain by pelitic basement, the host rock for
the
Key Lake orebodies.
Exploration will attempt to trace the pelite horizon by ground
geophysics
followed by diamond drilling.
WEST BEAR AREA
The property consists of two claims totalling about 21,000 acres
adjoining
the West Bear deposit (450 tonnes U at 0.37) to cover the
possible
southwest extension of the ore zone.
During exploration of the area in the mid-1970s, one diamond drill
hole
near the centre of the property intersected a radioactive zone in
the
basement but no follow-up work was done.
Further exploration will attempt to define the lithological and
structural
setting of the radioactive zone and its relationship to the West
Bear
deposit by geophysics and diamond drilling.
CIGAR LAKE NORTH
The property consists of seven closely spaced non-contiguous claims A to
G,
ranging in size from 2200 acres to 13,400 acres for a total of about
57,000
acres.
Previous and continuing exploration in the area has disclosed
alteration
haloes in the Athabasca Formation similar to the nearby Dawn Lake
deposit
(11,500 tonnes U at 1.7%). In addition, a number of anomalous U-Au
zones
have been intersected in basement pelites.
Claims A, B and C were staked to cover the easterly and northerly
extension
of a major alteration halo in the Athabasca sandstone.
Claims D and E are adjacent to properties where uranium-gold zones
have
been intersected in basement pelites.
Claims F and G cover the extension of a major conductive zone in
the
basement in which several radioactive intersections have been made.
Further exploration will focus on the delineation of alteration haloes
in
the Athabasca sandstone and E-M conductors in the basement followed
by
diamond drilling where warranted.
MIDWEST LAKE AREA
The property consists of two claims adjacent to the Midwest Lake
deposit
(14,000 tonnes U at 3.8%) occupying a narrow southwesterly trending
strip
of ground about 22,000 acres in area.
The property is on line of strike between Midwest Lake and the Cigar
Lake
deposit (110,000 tonnes U at 12.3%).
Exploration will consist of geophysical surveys over areas of
pelitic
basement in an attempt to define drill targets.
BLACK LAKE AREA
This large block of 11 claims covers about 152,000 acres and includes
over
35 miles of the edge of the Athabasca Sandstone Basin east of Black
Lake.
Previous exploration in the 1970s discovered a large number of
radiometric
and geochemical anomalies but only a few were tested by drilling,
with
negative results.
Future exploration will concentrate on the search for alteration haloes
in
the Athabasca Formation and drill testing EM anomalies
underlying
alteration zones.
NISTO CHANNEL
The property consists of three claims covering about 43,000 acres cover
the
Nisto Channel, a prominent topographic lineament which marks the trace
of
the Black Lake Fault, a major crustal structure which separates two
domains
of the Precambrian Shield.
Reverse movement on the Black Lake Fault has thrown basement rocks in
the
hangingwall to the west against Athabasca Formation to the east.
Narrow high grade pitchblende veins have been explored underground
from
adits in the side of the Nisto Channel. The Nisto mine never reached
full
production but was high-graded in 1959 when about 500 tons of ore
were
shipped to Uranium City. One shipment of 106 tons graded 1.6%
uranium
oxide.
The unconformity at the base of the Athabasca Formation is displaced
by
several hundreds of feet in the vicinity of the Black Lake Fault
and
provides an excellent target for unconformity type deposits.
Despite the favourable structural setting and the presence of vein
type
pitchblende in the hangingwall, only two drill holes have been put
down
into the unconformity.
Systematic exploration of the unconformity in the vicinity of the
fault
along the 22 miles of strike length covered by the claims is a
high
priority of the company.
POPLAR POINT
The property consists of three claims totalling about 44,000 acres
cover
the Poplar Point area which lies about 15 miles west of the Fond du
Lac
deposit (400 tonnes U at 0.2%), the first of the unconformity deposits
to
be discovered in the basin.
Future exploration will focus on confirming the source of a number
of
mineralized boulder trains followed by ground geophysics and
diamond
drilling.
NORTHWEST TERRITORIES
PEC AND BOULDER TRAIN PROPERTIES
The properties consist of 28 claims covering over 71,000 acres in
the
Hornby Bay Basin 350 miles north of Yellowknife and 60 miles south
of
Coppermine, in which the company has acquired a 50% option interest.
The properties are underlain by quartzites of the Helikian Dismal
Lake
Group overlying older Precambrian basement.
The claims are divided into two separate blocks. One block contains the
Pec
deposit with an estimated 3150 tonnes of uranium oxide at grades ranging
up
to 1.27%.
A second block, 15 miles to the northwest, covers a radioactive
boulder
train over one mile wide and 3.5 miles long. The source of the boulders
has
not been found to date.
Exploration is planned to further delineate reserves on the Pec
property
and to discover the source of the boulder train by prospecting,
till
sampling, geochemistry and diamond drilling.
An update on further activities in the uranium prospect areas will
be
released as soon as it is compiled.
A finder's fee of 50,000 shares will be paid to an individual
for
information supplied with respect to the acquisition of the
uranium
properties.
(c) Copyright 1997 Canjex Publishing Ltd.
canada-stockwatch.com
Will be happy to try and work out the pieces to see if the puzzle can be
solved.
Do you have anything that may relate? Is this scenario reasonable?
Ted |
