Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (19400)	5/12/2008 10:27:20 AM
From: LoneClone	Read Replies (1) \| Respond to of 195027

JNR Announces Drilling Program Underway at Way Lake Mon May 12, 9:30 AM ca.news.finance.yahoo.com TSXV:JNN Email: info@jnrresources.com Website: www.jnrresources.com SASKATOON, May 12 /CNW/ - JNR Resources Inc. (TSXV: JNN.V) (the 'Company') is pleased to announce that the 2008 summer diamond drilling program is underway on the Company's 100% owned Way Lake uranium project, located 55 kilometres east of the Key Lake uranium mine in the Athabasca Basin of northern Saskatchewan. The Way Lake project comprises 17 contiguous claims totalling 71,795 hectares. The program is budgeted at $2.5 million and will consist of a planned 10,000 metres of diamond drilling, as well as additional geological mapping and prospecting. Currently, one drill is operating on the property and a second will be mobilized following spring break-up. All of the required regulatory permits have been received. The initial focus of attention will be some 60 kilometres of folded and structurally displaced EM conductors identified by airborne VTEM and ground electromagnetic surveys and located in the southwest portion of the property (Walker Lake area). A major prospecting campaign completed during the summer of 2007 identified uranium mineralization in several outcrop showings coincident with this conductive trend. The most significant are the Walker Lake showings which occur over a 3.0-kilometre long by 1.0-kilometre wide area. Grab samples returned from 0.017 to 0.079% U(3)O(8) (Reference: March 19, 2008 news release). The drilling program will also test three additional showings (West Way, EWA & Nob Hill) discovered by the 2007 prospecting campaign and will continue drill testing the Hook Lake area where two grab samples collected from a massive pitchblende vein in 2006 returned 40.1% and 48% U(3)O(8) respectively (Reference: October 12, 2006 news release). The Company is also pleased to announce the purchase of a third diamond drill to complement its existing two drills. The Duralite 500N Heliportable drill is capable of reaching depths of 800 metres and can easily be moved by ski or float equipped aircraft. It will be operated by Dynamic Drilling of Saskatoon. JNR's Director of Exploration, Dr. Irvine R. Annesley comments: "The purchase of a third drill complements our strategy to quickly advance the numerous quality targets that we have identified on our properties by continuously drill testing throughout the year." JNR has an interest in thirteen projects totalling more than 362,000 hectares of highly prospective ground in the renowned Athabasca Basin of northern Saskatchewan. 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 Rick Kusmirski President & CEO THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. Contacts JNR Resources at (306) 382-2211 or (877) 567-6463