NewsJNR and Altius Resume Uranium Exploration at Rocky Brook
TSXV:JNN
SASKATOON, SK, Aug. 21 /CNW/ - JNR Resources Inc. (TSXV:JNN) and Altius
Minerals Corporation; jointly the "Companies" are pleased to report on the
results of the 2006 exploration program and announce that the 2007 diamond
drilling program on the Rocky Brook uranium property is underway. Located in
western Newfoundland, Canada, exploration at Rocky Brook is focused on the
discovery of bedrock sources for two discrete high-grade boulder clusters in
glacial till, with reported historical assays ranging from 1% to more than
10% U(3)O8 as well as very high-grade silver contents.
The 2006 diamond drilling program was carried out between July and
December and consisted of 65 holes totalling 2,881 metres. Highlights include
the best mineralization intersected to date on the property, in two holes
located approximately 50 metres east of the Wigwam Brook boulder field and
within a broad 700-metre long drill-defined radioactive bedrock anomaly. The
anomalous radioactivity appears to be stratigraphically controlled and occurs
within a hematized sandstone unit bounded by interpreted reverse faults.
RB-06-117 intersected a grade equivalent (downhole-probe result) of 0.54%
U(3)O8 over 0.10 metre within a 0.4-metre interval that assayed 0.075% U(3)O8
and 4.4 ppm silver. Fifty metres to the south, RB-06-127 intersected a
0.5-metre interval of 0.080% U(3)O8, 1030 ppm copper and 2.2 ppm silver. Both
intersections occur at shallow depths just below the overburden/bedrock
interface. Other significant mineralization intersected in the Wigwam Brook
area includes a 0.5-metre interval in RB-06-126, located 10 metres east of
hole RB-06-117, that assayed 0.021% U(3)O8, 900 ppm copper and 5.2 ppm silver.
Anomalous radioactivity was encountered in several holes drilled
immediately northwest of the Birchy Hill Brook boulder anomaly. The
radioactive zones occurred immediately below the overburden/bedrock interface
and are associated with hematized sandstone and mudstone units. The drill
holes tested a prominent magnetic lineament, interpreted cross structures and
a colour-defined redox boundary.
The 2006 airborne geophysical program was completed in July 2006 and
consisted of approximately 1,200 line kilometres of radiometric, magnetic and
electromagnetic surveying over the Rocky Brook claims. The program identified
several prominent magnetic and radiometric anomalies in the areas of the
historic Wigwam Brook, Birchy Hill Brook and Goose prospects, as well as a
number of anomalous zones elsewhere. The radiometric survey proved to be the
most effective in locating and extending a number of radioactive boulder
trains.
The planned 2007 exploration program is budgeted at just over $600,000
and includes 3,000 metres of diamond drilling and a nominal amount of
trenching. The drilling program will focus on the Wigwam Brook area where the
results to date indicate a complex stratigraphic/structural control to the
mineralization and geochemical enrichment, and the Birchy Hill Brook area. An
environmentally low-impact trenching program will be carried out in the Wigwam
Brook area.
Samples were analysed at the Saskatchewan Research Council Laboratory in
Saskatoon. 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.