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.
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.