TSXV:JNN
Email: info@jnrresources.com
Website: www.jnrresources.com
SASKATOON, Aug. 18, 2011 /CNW/ - JNR Resources Inc. (TSXV:JNN) ('JNR' or the 'Company') is pleased to announce that it has commenced a
minimum 1,000-m summer diamond drilling program on the Company's 100%
owned Snowbird uranium project, located in the Athabasca Basin of northern
Saskatchewan.
The Snowbird property straddles the southern edge of the Athabasca Basin directly
along the footwall of the Snowbird tectonic zone, a major transcrustal
structural feature that includes the southwest strike extension of the
Virgin River shear zone, which hosts Cameco's Centennial Deposit.
The company has identified well defined drill targets at shallow depths
that are lithostructurally similar/related to those of the Centennial
deposit (Cameco Corporation/Formation Metals Inc.), located
approximately 20 km northeast and on strike of the property. At
Centennial, a 650-m long mineralized zone with drill intersections of
up to 8.78% U3O8 over 33.9 m has been outlined at approximately 800-m depth (Formation
Metals news release May 30, 2011).
Management strongly believes the Snowbird district has the potential to
host a significant uranium deposit. The substantial uranium and metal
endowment in the Snowbird district, lack of sandstone cover and shallow
depth to mineralization allows for efficient and timely exploration of
these targets.
JNR's Director of Exploration, Dr. Irvine R. Annesley, P.Geo, is the
qualified person responsible for the technical data presented in this
release. 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
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
release. Statements contained in this news release that are
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Such risks and other factors
include, among others, risks related to the accessibility to the
property; operational risks; weather; availability of equipment and
personnel; changes in project parameters as plans continue to be
refined; delays in obtaining governmental approvals; delays or failure
in obtaining financing on acceptable terms. Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements.