JNR/Altius Commence 2011 Fall Exploration Program at Topsails Project, Newfoundland
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TSXV:JNN
Email: info@jnrresources.com
Website: www.jnrresources.com
SASKATOON, SK, Oct. 6, 2011 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the
'Company') is pleased to announce the following update from the Sheffield Lake South copper (Cu) prospect on its Topsails Project in west-central Newfoundland. The Topsails project is a 50/50 alliance between the Company and Altius Resources Inc. that was established to explore for volcanic-hosted uranium deposits in a defined area of west-central Newfoundland near the mining community of Buchans.
The 2011 exploration program, budgeted at approximately $100,000, is underway. This program will be carried out on the Sheffield Lake South Cu prospect and will follow up the encouraging results obtained in 2009 and 2010. It will involve detailed prospecting, trenching, geological mapping, and sampling to further extend the area of the Sheffield Lake South prospect.
In 2009, reconnaissance prospecting resulted in the discovery of disseminated and vein-hosted Cu, Mo, Pb, and Ag mineralization (+/- Zn, U, and REE enrichment) at Sheffield Lake South, with anomalous Pb and Mo values up to 13.9% and 0.55%, respectively.
In 2010, extensive prospecting of the Sheffield Lake South area was carried out with 47 rock samples collected. The best mineralization in these samples comprises up to 3.9% Mo, 1.9% Pb, 0.36% Cu, and 95.3 g/t Ag. The 2010 soil sampling survey also returned anomalous geochemistry from 104 soil samples.
JNR is led by a highly experienced management team with proven discovery success in uranium exploration. In addition to its projects in Newfoundland, the Company has an interest in thirteen properties totalling some 323,768 hectares of highly prospective ground in the renowned Athabasca Basin of northern Saskatchewan.
JNR's Director of Exploration, Dr. Irvine R. Annesley, P.Geo., 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.