Mr. Rick Kusmirski reports
JNR/ALTIUS COMMENCE 2011 FALL EXPLORATION PROGRAM AT TOPSAILS PROJECT, NEWFOUNDLAND
JNR Resources Inc. has released an update from the
Sheffield Lake South copper 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
under way. 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, molybdenym, lead and silver mineralization (plus or minus zinc,
uranium and rare earth elements enrichment) at Sheffield Lake South, with anomalous Pb and
Mo values up to 13.9 per cent and 0.55 per cent, 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 per cent Mo, 1.9 per cent Pb, 0.36 per cent Cu and 95.3 grams per tonne 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 13 properties
totalling about 323,768 hectares of highly prospective ground in the
renowned Athabasca basin of Northern Saskatchewan.
JNR's director of exploration, Dr. Irvine R. Annesley, 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. A glossary of the technical terms included in this release can be
found on the company's website.
We seek Safe Harbor.
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