sumisu
13 years ago
JNR Announces Results of 2011 Moore Lake Winter Diamond Drilling Program
Press Release Source: JNR Resources Inc. On Wednesday April 27, 2011, 8:30 am EDT
http://finance.yahoo.com/news/JNR-Announces-Results-2011-cnw-2504770513.html?x=0&.v=1
TSXV:JNN
Email: info@jnrresources.com
Website: www.jnrresources.com
CALGARY, April 27 /CNW/ - JNR Resources Inc. (TSXV:JNN.V) ("JNR") and Denison Mines Corp. (TSX:DML); jointly the "Companies", have completed a 3,305-metre diamond drilling program on JNR's 25% owned Moore Lake Joint Venture. The property lies 40 km south of Cameco's McArthur River mine and 45 km northeast of the Key Lake mine and mill complex in the Athabasca Basin of northern Saskatchewan.
The eight hole program (ML-162 through ML-169) tested a variety of discrete geophysical resistivity and structural targets with two holes intersecting significant uranium mineralization. The best hole, ML-165, returned 0.31% U3O8/1.0 metre at 291.85 metres down hole, immediately above the unconformity. Follow-up hole, ML-169, was drilled as a fence hole at the same -70 degree dip and collared 20 metres grid east of ML-165. It intersected 0.11% U3O8/0.5 metres at the unconformity, 287.25 metres down hole.
The focus of this drilling program was to test a number of widely-spaced geophysical resistivity anomalies and structural targets, interpreted to reflect the extension of the main mineralized Maverick structural zone and outlying brittle reactivated basement faults. The two significantly mineralized holes were drilled in a relatively untested area approximately three kilometres east of the main Maverick zone, which was discovered by JNR in 2000. These holes intersected intense structural disruption and hydrothermal alteration in the basal sandstone and graphitic pelitic basement rocks below the unconformity. In addition to the encouraging uranium values and geology, highly elevated pathfinder elements occur in the basement rocks of these two mineralized holes (up to 1,380 ppm V, 4,750 ppm Zn and 3,430 ppm Pb)
The companies will continue to evaluate and integrate the results of this winter's drilling program with the wealth of data collected on the property over the past several years. This work will focus on discovering and delineating new mineralization by identifying new drill targets in historically drill-tested areas; as well as on locating new targets on relatively under-explored sections of the property. The Moore Lake property is host to an impressive inventory of high-priority targets that are in various stages of exploration and remains one of the pre-eminent uranium projects in the Athabasca Basin.
JNR is led by a highly experienced management team with proven discovery success in uranium exploration. In addition to projects in Newfoundland and southern Saskatchewan, the Company has an interest in 14 properties totalling some 340,197 hectares of highly prospective ground in the renowned Athabasca Basin of northern Saskatchewan.
JNR's Vice President, Exploration and Chief Operating Officer, Dave Billard, P.Geo., is the qualified person responsible for the technical data presented in this release. Samples were analysed at the Saskatchewan Research Council Laboratory in Saskatoon, SK, a Standards Council of Canada (CCRMP) certified analytical laboratory. A cut off grade of 0.02% U3O8 was used for all grade calculations, while all core lengths are down hole measurements and the true width of mineralization is not known at this time. Denison Mines Corp. is the operator of the Joint Venture and the technical information in this release was obtained under Denison Mines Corp.'s quality assurance program and quality control program described in Denison's Annual Information Form dated March 28, 2011 and filed on SEDAR. 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.
sumisu
14 years ago
West dependent on China for key resources
Published: 22 January 2010 14:30 | Changed: 22 January 2010 14:31
http://www.nrc.nl/international/article2465570.ece/West_dependent_on_China_for_key_resources
China controls the world’s supply of rare earth metals. It might not be willing to share much longer.
By Piet Depuydt
An iron ore mine is western Australia.
Photo AP
A plaque hangs in the lobby of Baogang Group’s headquarters. “The Middle East has oil, China has rare metals.” The words are attributed to former Chinese leader Deng Xiaoping and have the force of an oracle for many Chinese.
China holds 95 percent of the globe’s ‘rare earth elements’, which are almost as essential to Western industry as oil. The export centre for these metals is Baotou in Inner Mongolia, where the Baogang group has its headquarters. Here, this state company produces nearly half of the world’s supply of neodymium. This metal is practically unknown, but it has fundamentally changed the appearance of consumer electronics.
“Without the powerful magnets developed using neodymium, makers of mobile phones and mp3 players would not have been able to carry out extensive miniaturisation,” says André Diederen of the Dutch research institute TNO.
At least 500 grams of neodymium is needed in every hybrid car to make the magnets in the engine work. The deep blue material is also an essential element for the latest generation of powerful wind turbines. A 16 metre high turbine produces an average of five megawatts of energy; about 200 kilograms of the metal is needed for every megawatt.
Technology cannot do without rare metals
Experts estimate that global demand for neodymium will rise by a factor of 3.8 by 2030. Demand for other elements in the rich earth of Baotou – cerium, praseodymium en lanthanum – has increased exponentially in recent years. They are not only used for numerous Western devices, such as energy efficient light bulbs or smart air-emissions detection systems, but are of strategic importance for Chinese industry itself. At least 60 percent of the rare earth metals extracted in Baotou are intended for Chinese use.
This creates concern in the market. “The Chinese government wants to do everything to secure the flow of these metals for their own industry,” says Michel Rademaker of the The Hague Centre for Strategic Studies. “They have imposed export quotas which get stricter every year.”
Last summer, an internal memo from the Beijing government was leaked which proposed that exports of rare earth metals should be limited in the following six years to 35.000 tons per year, far below expected demand. There report stirred commotion among industrial experts in Europe, Japan and the US. “It rubbed our noses in the facts,” says Derk Bol of the Materials Innovation Institute (M2i) in Delft. “Scarcity of materials suddenly became a real threat.”
If China really implements this measure, shortages of certain metals, such as terbium and dysprosium, are expected this year. One of these metals is used in the production of energy saving light bulbs, the other in lasers.
Global use has quadrupled
But even if this measure is not implemented, shortages are unavoidable. Global use of rare earth metals has more than quadrupled in the last years to 125,000 tons per year. Analysts expect demand to reach 200,000 tons in 2014, and, by that time, China will need all it produces for its own use.
“Chinese exports of rare earth metals will be reduced to zero over time,” says Christian Hocquard, economist and raw materials expert at the French geological service BRGM. This is a doom scenario for Western industrial experts. Numerous high-tech industries in Europe, Asia and the US will be without essential raw materials.
According to Hocquard there are only two ways to avoid this. “We relocate our factories to China, or open new mines for rare earth metals outside China.”
Western mines re-open for business
China actually has only 53 percent of world supplies within its borders. In the West, overproduction and low prices in the 1990s caused most mines to close. The recent increase in demand has overturned that situation. A kilo of neodymium goes for 22 dollars now, five times as much as in 2002. Dysprosium’s value is ten times what it was in 2002.
But it will cost a lot to reopen the old mines. A whole new industry has to be built. Mountain Pass in the US was reopened in 2007, but will only reach full production sometime this year. In Australia, the Mount Weld mine is expected to produce rare earth metals on a large scale from this year. But last year the company that owns it sold 51.6 percent of its shares to a Chinese company in exchange for cash and debt financing. The search for rare earth metals is a global race.
Europe has no role to play. It has no major deposits of rare earth minerals in the ground and must depend on the rest of the world for supplies. If China stops the supply, the EU will have acute shortages. Beijing’s party leaders deny that they intend to do that. China doesn’t want to hold the European industry hostage, officials stress. Around Hexi Industrial Zone, Baogang Group’s technology park, an active campaign is underway to lure European companies to open factories there in exchange for access to rare earth metals. Baotou hopes to expand into a giant industrial site where the raw metals are refined and converted into finished products. It wants to be the global Mecca of rare earth metals, and the West is welcome to take part in this.
sumisu
14 years ago
JNR Announces 2010 Drilling Program at Way Lake Uranium Project
Press Release Source: JNR Resources Inc. On Thursday January 14, 2010, 8:50 am EST
http://finance.yahoo.com/news/JNR-Announces-2010-Drilling-cnw-2345988364.html?x=0&.v=1
SASKATOON, SK, Jan. 14 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company') is pleased to announce that a winter diamond drilling program will commence shortly on the Company's 100% owned Way Lake uranium project, located 55 kilometres east of the Key Lake uranium mine in the Athabasca Basin of northern Saskatchewan. The Way Lake project comprises seventeen contiguous claims totalling 71,795 hectares.
The planned drilling program comprises some 2,500 metres (fifteen to twenty holes) and will focus on widespread outcrops of uranium mineralization (+/- thorium and rare earth metals), referred to as the Fraser Lakes uranium showings (Fraser Lakes A and B zones). These mineralized zones are contained within a 5-kilometre-long interval of a 65-kilometre-long folded electromagnetic (EM) conductor system comprised of Wollaston Group graphitic pelitic gneisses (+/-sulphides) and uraniferous granitic pegmatites. The mineralized zones were discovered by ground prospecting of airborne geophysical targets during the summer of 2008, when close to 100 individual mineralized outcrop sites were identified.
The B zone showings occur within an antiformal fold nose of the EM conductor and are currently the more prospective of the two mineralized zones. Over 70% of the grab samples taken from some 70 individual mineralized outcrop sites assayed from 0.03 to 0.457% U(3)O(8). The B zone was tested by three drill holes at the end of the 2008 program. The best results were from hole No.525, which intersected numerous uraniferous intervals. Of particular note was a 12.0-metre intersection from 77.50 to 89.50 metres down hole that returned 0.081% U(3)O(8); including a 3.0-metre intercept of 0.193% U(3)O(8) (true widths cannot be reliably estimated at this time).
The 2009 drilling program tested a 1,500-metre strike length of the B zone conductor and associated alteration system with fifteen completed drill holes. Multiple intervals of uranium and/or thorium mineralization were intersected in several drill holes. This mineralization is accompanied by rare earth element enrichment and highly anomalous levels of pathfinder elements. Some of the better intersections occur in drill holes WYL-09-39, -41 and -50. At a grade cutoff of 0.029% U(3)O(8), hole No.39 returned seven mineralized intervals over a 30-metre downhole length, including a 0.15-metre intercept of 0.166% U(3)O(8) and 0.112% thorium. The best result from hole No.41 was 0.134% U(3)O(8) and 0.77% thorium over 1.0 metre, while the best result from hole No.50 was 0.183% U(3)O(8) and 0.062% thorium over 1.0 metre.
The A zone showings occur within a synformal fold nose at the southern end of the EM conductor, from which outcrop grab samples contained up to 0.042% U(3)O(8). Seven holes were drilled in this area, three of which intersected broad zones of significantly altered and structurally disrupted graphitic pelitic gneisses accompanied by anomalous levels of pathfinder elements, particularly copper, nickel, vanadium, bismuth and zinc.
Dr. Irvine Annesley, Director of Exploration for JNR comments: "The Fraser Lakes district has numerous similarities to nearby basement-hosted uranium deposits, such as Eagle Point, Millennium and the Roughrider Zone. Furthermore, all of the drill targets identified in the Way Lake project area have the potential for this kind of basement-hosted uranium mineralization at or near surface."
The drilling program is expected to continue until late March/early April. Results will be reported on once they have been received and interpreted.
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: http://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: http://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.
For further information
contact JNR Resources at (306) 382-2211 or (877) 567-6463
sumisu
14 years ago
JNR/Altius Discover Rare Earth Metals and Uranium-Thorium Mineralization at Topsails
Press Release Source: JNR Resources Inc. On Friday December 18, 2009, 8:09 am EST
http://finance.yahoo.com/news/JNRAltius-Discover-Rare-Earth-cnw-2857839119.html?x=0&.v=2
SASKATOON, SK, Dec. 18 /CNW/ - JNR Resources Inc. (TSXV:JNN) and Altius Resources Inc. (the 'Companies') are pleased to report the discovery of significant amounts of rare earth metals (REE) and uranium-thorium (U-Th) mineralization on their Topsails project. The project is a 50/50 alliance between the Companies that was established to explore for volcanic-hosted uranium deposits in a defined area of west-central Newfoundland near the former mining community of Buchans.
Reconnaissance prospecting in 2008 identified several anomalous outcrop areas and large, locally-derived boulder fields with highly variable U-Th contents and up to 2.50% total rare earth oxides (TREO) plus anomalous yttrium (Y), zirconium (Zr), and niobium (Nb). A property-wide exploration program in 2009 further enhanced these showings and resulted in the discovery of other new prospects.
The Railway U showing, first identified in 2008, is located in the northern part of the Topsails project. Grab samples returned up to 0.62% U(3)O(8) and lesser variably anomalous amounts of lead (Pb), zinc (Zn), nickel (Ni), arsenic (As), and copper (Cu). An orientation survey of soil sampling and geochemistry in 2009 returned encouraging results and expanded the anomalous area of outcrops, subcrop, and boulders.
The Sheffield Lake South prospect, located north of the Railway U showing, was also discovered during the 2008 exploration campaign. Follow-up prospecting and sampling in 2009 returned anomalous lead and molybdenum (Mo) values (up to 13.9% Pb and 0.55% Mo) from outcrops and locally derived boulders. The mineralization is hosted mainly by quartz veins cutting granite, though the granite itself is also mineralized. This area is also radiometrically and geochemically anomalous, with outcrop samples returning up to 0.009% U(3)O(8), 0.21% TREO, 0.09% Y, 2.33% Zr, and 3.3 g/t Ag.
In 2009, regional- to district-scale prospecting, mapping and sampling were conducted in the southern half of the Topsails property over a 20-km x 35-km area of abundant airborne radiometric anomalies. This resulted in the discovery of REE-Y-Zr-Nb-Th-U mineralization at the new Long Range Mountain prospects ("A" and "B"). To date, most of the rare earth metal mineralization of the Long Range Mountain prospects has been observed in locally derived granitic pegmatite and rhyolite boulders, but significant outcrop showings also exist. Prospect A comprises shear-zone-hosted, fluorite-bearing U-Th-REE mineralization in outcrop and highly anomalous boulder fields. Grab samples returned up to 1.40% TREO, 0.35% Y, 1.24% Zr, 0.28% Nb, 0.023% U, 0.154% Th, and anomalous amounts of other rare metals. Prospect B, located ~10 kilometres northeast of prospect A, is comprised of several small outcrops and abundant locally-derived boulder fields. Grab samples returned up to 3.11% TREO, 0.50% Y, 2.38% Zr, 0.18% Nb, 0.019% U, 0.144% Th, and anomalous amounts of other rare metals. North of prospect A, a large discontinuous outcrop area of fluorite-bearing peralkaline granites and aplitic dykes also hosts U-Th-REE mineralization.
The reported TREO grades for the Long Range Mountain prospects are comparable to grades from Strange Lake (Labrador), Thor Lake (NWT), Kvanefjeld, (Greenland), and Hoidas Lake (Saskatchewan).
The Companies are very pleased with the overall success of the 2009 exploration program. Dr. Irvine R. Annesley, Director of Exploration with JNR, finds it significant that the highly anomalous zones of TREO + Y + Zr + Nb mineralization are commonly associated with U and/or Th mineralization, which makes them relatively easy to locate with airborne and ground radiometric surveys. Dr. Annesley also finds interesting the high ratio of heavy to light REE from sampling to date, ranging from 0.08 to 0.47. Heavy REE are rarer and typically more valuable as a commodity for industrial development.
The 2010 exploration program will consist of several geophysical and soil geochemistry surveys, additional regional prospecting, rock sampling, and detailed mapping in the area of the highly mineralized Long Range Mountain, Sheffield Lake South, and Railway U prospects, and a comprehensive, property-wide airborne hyper-spectral survey. Timing of follow-up diamond drilling programs will be dependant upon the results.
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 fourteen properties totalling some 345,430 hectares of highly prospective ground in the renowned Athabasca Basin of northern Saskatchewan.
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 Topsails project 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-TS.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.
For further information
contact JNR Resources at (306) 382-2211 or 1-877-567-6463
sumisu
15 years ago
JNR/Altius Discover Cu-Mo-Au-Ag Mineralization at Topsails
Press Release
Source: JNR Resources Inc.
On 8:54 am EST, Monday November 30, 2009
http://finance.yahoo.com/news/JNRAltius-Discover-CuMoAuAg-cnw-638164031.html?x=0&.v=1
SASKATOON, SK, Nov. 30 /CNW/ - JNR Resources Inc. (TSXV:JNN) and Altius Resources Inc. (the 'Companies') are pleased to report the discovery of a potentially significant copper-molybdenum-gold-silver prospect (Koorae) on their Topsails project. The project is a 50/50 alliance between the Companies that was established to explore for volcanic-hosted uranium deposits in a defined area of west-central Newfoundland near the former mining community of Buchans.
Reconnaissance prospecting on the Topsails project in 2008 resulted in the discovery of several locally derived sulphide-bearing boulders approximately 15 kilometres northwest of Buchans. Grab samples from two of the boulders returned assays of 3.5% Cu, 0.12% Mo, 35.1 g/t Ag, 0.18 g/t Au and 2.0% Cu, 0.16% Mo, 19.8 g/t Ag, 0.29 g/t Au.
Additional exploration including trenching, rock and soil sampling was completed on the Koorae prospect as part of the larger 2009 program. An area of approximately 100 metres by 15 metres was excavated, mapped and sampled. Disseminated copper sulphides and magnetite occur in chlorite-hematite-altered quartz-feldspar porphyry, which is in fault contact with felsic volcanic rocks containing veinlet and breccia-matrix chalcopyrite with lesser bornite and chalcocite.
Of twenty-three grab samples randomly collected from the quartz-feldspar porphyry, twenty-one returned anomalous values of up to 0.87% copper, with an average of 0.15% copper. Sampling of adjacent, strongly altered felsic volcanic rocks returned a best in-situ result of 0.39% Cu, 0.04% Mo and 0.9 g/t Ag, while a grab sample from locally derived float returned 3.7% Cu, 0.1% Mo, 53.3 g/t Ag and 0.24 g/t Au. Furthermore, a rhyolite flow which was also exposed in the trench returned 0.67% Cu, 0.03% Mo and 7.4 g/t Ag.
The Koorae prospect bears numerous similarities to the alkalic, caldera-related group of porphyry copper-gold deposits observed world wide. Geophysically, the discovery occurs near the southern margin of a roughly 1,200 by 300 metre, east-northeast trending magnetic low and on the southeast margin of an isolated K, U, and Th radiometric high of 350-metre diameter size. The Companies are planning to initiate an induced polarization/resistivity (IP) survey covering the prospect area before year end.
In addition to the trenching program, extensive prospecting, mapping and sampling was completed throughout the Topsails project in 2009. Of particular interest were six separate areas identified during the 2008 program that returned highly anomalous metal geochemistry, including several new occurrences of uranium with grab samples of up to 0.62% U(3)O(8). Also of significance were large boulder fields containing coarse-grained to pegmatoidal granites returning up to 3.06% TREO (total rare earth oxides) plus yttrium.
Analytical results from the 2009 regional program are just becoming available and are currently being reviewed and interpreted prior to release.
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 fourteen properties totalling some 345,430 hectares of highly prospective ground in the renowned Athabasca Basin of northern Saskatchewan.
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
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.
For further information
JNR Resources at (306) 382-2211 or (877) 567-6463
sumisu
15 years ago
JNR Announces Results of Airborne Surveys on the Black Lake & Newnham Lake Uranium Projects
Press Release
Source: JNR Resources Inc.
On Thursday September 17, 2009, 9:14 am EDT
http://finance.yahoo.com/news/JNR-Announces-Results-of-cnw-434891194.html?x=0&.v=1
SASKATOON, SK, Sept. 17 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company') has finalized the interpretation of airborne geophysical surveys flown over its 100% owned Black Lake and Newnham Lake uranium projects located in the Athabasca Basin of northern Saskatchewan. These results have been integrated with prior ground and/or airborne geophysical surveys to further define targets for drill testing.
At Black Lake, a 3,289 line-kilometre gravity gradiometer survey was flown in the fall of 2008. This survey provided additional geological information, both near surface and at depth, and defined new targets for drilling. Seven gravity targets having a range of characteristics common to Atahabasca uranium deposits were identified.
During the spring of 2009, a 350 line-kilometre AirMT (ZTEM) test survey was flown over the southern part of the Black Lake property and better delineated the deeper EM conductors. Also completed was the reprocessing of the 2005 Megatem data by Condor Consulting, which defined five 'zones of interest' in the central part of the property coinciding with the gravity anomalies.
At Newnham Lake a 4,243 line-kilometre gradient magnetic survey flown in the spring of 2008 identified a number of interesting magnetic settings and anomalies. This was followed up by a 1,547 line-kilometre high-resolution ZTEM survey. Seven initial 'zones of interest' were selected on the basis of a favourable geophysical/geological correlation.
Over the past four years, the Company has carried out a number of exploration programs on the Black Lake and Newnham Lake projects and advanced both to the 'drill-ready' stage. To that end, the Company plans to leverage its equity in these projects and is actively seeking partners to fund an extensive 2010 drilling campaign.
The Black Lake project comprises 41,783 hectares and is located along the north rim of the Athabasca Basin, approximately 20 kilometres southeast of the town of Stony Rapids and along the all weather road to that community. The property covers a 40-kilometre strike length of the Snowbird/Black Lake tectonic zone, a major transcrustal structural feature that represents the strike extension of the mineralized Virgin River shear (Centennial Zone) located some 225 kilometres to the southwest.
The Newnham Lake project comprises 27,723 hectares and is located on the northeastern margin of the Athabasca Basin, approximately 50 kilometres east of the historic Nisto uranium deposit. Historic work on the property identified a number of geological, geophysical and geochemical features typical of unconformity-type uranium deposits. Of particular interest are a number of conductive and structural trends, most notably a broad 15-kilometre long, east-northeast-trending conductor associated with a metasedimentary assemblage within the central portion of the property. This area is also characterized by a large number of surficial geochemical anomalies in lake sediments, peats and soils (up to 5,000 ppm uranium).
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
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.
For further information
JNR Resources at (306) 382-2211 or (877) 567-6463
sumisu
15 years ago
JNR Provides Exploration Update on Topsails Uranium Project, Newfoundland
Press Release
Source: JNR Resources Inc.
On Tuesday July 21, 2009, 8:47 am EDT
http://finance.yahoo.com/news/JNR-Provides-Exploration-cnw-3268095869.html?x=0&.v=1
SASKATOON, July 21 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company') is pleased to provide the following update and results on the Topsails uranium project in central Newfoundland.
The Topsails uranium project consists of 7,304 mineral claims totalling 182,600 hectares. It is a 50/50 alliance between the Company and Altius Resources Inc. (jointly the 'Companies') 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 2009 program budgeted at approximately $500,000 was initiated in the spring with the collection of some 120 lake sediment samples and the initiation of a 3D Discover/GOCAD exploration model. An extensive prospecting and mapping program is now underway and will continue into the fall. It will focus on six separate areas identified by the 2008 program that returned highly anomalous geochemistry, including up to 5,260 ppm uranium in one sample and 35,000 ppm copper in another. A nominal amount of trenching and soil geochemistry will also be carried out.
Also completed during the winter of 2009, was an advanced re-processing and interpretation of an 18,812 line-kilometre fixed wing radiometric and magnetic survey flown in 2008. This work identified more than 60 targets for follow up, several of which were not evaluated by prospecting in 2008.
A property-wide lake sediment geochemical survey, completed during 2008, indicated anomalous uranium values with associated molybdenum and fluorine in a number of areas, the largest being 20 by 10 kilometres in size. With background values less than 10 ppm, anomalous uranium values of greater than 30 ppm, to a maximum of 535 ppm, were identified in more than 30 lakes. These samples combined with historical surveys highlighted four distinct areas of extensive uranium-molybdenum enrichment. The geochemically anomalous lakes lie within or adjacent to granitic rocks related to the caldera complexes targeted for exploration, and confirm the prospectivity of the Topsails rocks for hosting volcanic-related uranium mineralization.
It should be noted that lakes in the vicinity of uranium deposits in the prolific Athabasca Basin are commonly anomalous in uranium and pathfinder elements associated with the mineralization. Molybdenum and fluorine are common pathfinder elements diagnostic of volcanic-hosted uranium deposits. Furthermore, volcanic-hosted uranium deposits are a significant source of high-tonnage moderate-grade uranium, with one of the best examples being the Streltsovka caldera, Russia's largest uranium resource.
Further results will be released as they become available.
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 fourteen properties totalling some 339,328 hectares of highly prospective ground in the renowned Athabasca Basin of northern Saskatchewan.
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
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.
For further information
JNR Resources at (306) 382-2211 or 877-567-6463
sumisu
15 years ago
JNR Earns 70% Interest in Rocky Brook Project - Exploration Continues
On Thursday May 14, 2009, 9:03 am EDT
http://finance.yahoo.com/news/JNR-Earns-70-Interest-in-cnw-15242509.html?.v=1
SASKATOON, May 14 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company') is pleased to provide the following update on its Rocky Brook joint venture located in western Newfoundland.
JNR has received confirmation from Altius Resources Inc. that the company has earned an undivided 70% participating interest in the project. The Company has also received the final interpretation of a water geochemical survey carried out in the summer of 2008, and a preliminary interpretation from a recently completed 22.7 km induced polarization (IP) survey over several high priority targets on the property.
The water geochemical survey was carried out in the summer of 2008 to assist in delineating additional drill targets in the primarily bog-covered terrain of the Deer Lake Basin (see news release dated August 29, 2008). The survey was conducted over the most prospective portions of the Rocky Brook property and a total of 1,025 samples were collected and analyzed for trace elements by ICP-MS. Evaluation of the results of that survey is now complete. Uranium and associated trace element anomalies were detected up-ice of the Birchy Hill Brook, Wigwam, and Goose boulder fields as were seven additional target areas on the property. Associated elements within the anomalies include arsenic, barium, bromine, copper, molybdenum, lead and, selenium. Most of the anomalies define linear trends, which suggest an underlying structural control marginal to areas exhibiting a carbonate signature.
The 2009 winter IP survey was initiated to better define the structural controls suggested by the geochemical survey. The initial results were impressive enough that the survey was extended to provide detailed results in select areas. Preliminary results indicate the presence of several significant structural features coincident with the geochemical trends, which also appear to parallel the azimuth of the drill holes completed to date. This suggests that previous drilling did not test these highly prospective features in the optimum localities.
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)O(8), as well as very high-grade silver contents. Drilling to date has identified two areas of low level anomalous radioactivity at or near the overburden-bedrock interface proximal to the high-grade boulder clusters. Several geochemically-enriched fault structures and/or redox alteration fronts thought to possibly control the high-grade uranium-silver mineralization have also been defined.
Incorporation of the new IP and geochemical data into the current 3D model is in progress. This work will be used to direct the 2009 diamond drilling program that will be initiated later this summer. Tenders for the planned 2,000-metre program have been received.
JNR is led by a highly experienced management team with proven discovery success in uranium exploration. Its association with Altius on the island of Newfoundland is an invaluable local resource for the Company. In addition to its projects in Newfoundland, the Company has an interest in 14 projects totalling some 343,000 hectares of highly prospective ground in the renowned Athabasca Basin of northern Saskatchewan.
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 Rocky Brook project 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-RB.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 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.
For further information
JNR Resources at (306) 382-2211 or (877) 567-6463
HowardHughs
15 years ago
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HowardHughs
15 years ago
JNR Resources Inc.
SYMBOL: V.JNN, JNRRF
Website: www.jnrresources.com
Corporate Contact Information
Phone: (306) 382-2211
Toll Free: (877) 567-6463
Email: info@jnrresources.com
Click here to Request Investor Information Direct from this Company
Company News (Dec 29, 2008) Jnr Announces Closing Of Private Placement ...Read More
Overview
JNR Resources Inc. (TSXV: JNN) is a junior resource company with one of the strongest technical teams in the uranium exploration industry. The company has an interest in more than 362,000 hectares of highly prospective ground in the renowned Athabasca Basin of northern Saskatchewan, including the high-grade Moore Lake joint venture property with Denison Mines Corp.
JNR also holds an interest in more than 275,000 hectares in central Newfoundland, including the 11,000-hectare Rocky Brook joint venture with Altius Mineral Corporation, which features three distinct areas of un-sourced, mineralized sandstone boulders with reported grades of over 10% U3O8 and very high silver contents. In addition, JNR recently established an alliance with Altius to explore for volcanic-hosted uranium deposits on the 264,600-hectare Topsails property.
People
JNR has one of the strongest technical teams in the uranium exploration industry.
Rick Kusmirski, MSc, PGeo
President, CEO & Director
Rick Kusmirski has 30 years of exploration experience in North America and overseas, and has actively participated in the discovery of a number of gold, uranium and base metal deposits. He joined JNR Resources in 1999 and directed the exploration program that led to the discovery of the Maverick Zone on the Moore Lake joint venture property. Prior to joining JNR, he was the Exploration Manager for Cameco Corporation's uranium projects in the Athabasca Basin.
Dave Billard, BSc, PGeo
Vice-President, Exploration & Director
Dave Billard has been actively involved in the field of mineral exploration for 30 years. Since 1999, he has been a consulting geologist specializing in uranium exploration in the Athabasca Basin of Saskatchewan, and was directly involved in the discovery of the Maverick Zone on the company's Moore Lake property. Prior to this, Dave spent 12 years with Cameco Corporation working in western Canada and the western United States.
Dr. Irvine R. Annesley, PhD, PGeo
Director, Exploration
Irvine Annesley has 30 years of industry experience, the past 19 as a senior research geologist with the Saskatchewan Research Council (SRC). His research focused on uranium deposits in the Athabasca Basin using conventional geological methods and innovative techniques including advanced structural lineament analysis, applied synchrotron research, GOCAD structural and geochemical modelling, numerical modelling, lead isotopes and 3-D visualization. Dr. Annesley's research activities have also included studying uranium deposits in Australia, eastern Canada and Nunavut.
Dr. Les Beck, PhD, PEng, PGeo
Technical Advisor & Director
Dr. Beck is a world-renowned uranium expert and former Executive Director of the Geology & Mines Division for Saskatchewan Energy & Mines. He is an Adjunct Professor in Geology at the University of Regina and the author of approximately 30 technical and scientific publications, many dealing with uranium deposits in Saskatchewan. Dr. Beck has headed the Company's Technical Advisory Committee since early 1997, and has been instrumental in the selection of its uranium properties.
Ken Wasyliuk, MSc, PGeo
Chief Geochemist
Ken Wasyliuk has been actively involved in exploration for uranium, base and precious metals, industrial minerals and diamonds for over 20 years. Prior to joining JNR, Ken spent 16 years with Cameco Corporation where he became an expert on geochemical and clay alteration patterns associated with uranium deposits, specifically those in the Athabasca Basin.
Ron Hochstein, BSc, MBA, PEng
Director
Mr. Hochstein is the President and COO of Denison Mines Corp. He was President and CEO of International Uranium Corporation from April 2000 until December 2006.
Tracy Hurley, MSc, MBA, PGeo
Director
Tracy Hurley has 25 years of experience in the mining and exploration industry, including six years as a mining analyst for a Vancouver-based brokerage house. She is currently Vice-President Exploration for Troymet Exploration Corp.
Property
ATHABASCA BASIN
click to enlarge
The Athabasca Basin in northern Saskatchewan is the world's largest producer of uranium, accounting for about one third of the world's uranium mine output. It hosts the world's largest high-grade uranium mine, McArthur River, with proven and probable reserves of 0.8 million tonnes at an average ore grade of 25% U3O8. The extremely high-grade nature of the deposits and the low discovery costs make it the most prospective uranium exploration region in the world.
JNR's holdings in the Basin include a 100% interest in 5 properties totalling 164,626 hectares, a 30,767-hectare joint venture with Denison Mines Corp. (Denison) where JNR holds a 40% interest, and an additional 7 properties totalling 166,750 hectares in which Denison has the option to earn varying interests.
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In the Athabasca Basin, uranium mineralization is preferentially located at or near geological features known as unconformities. Importantly, all of JNR’s properties have relatively shallow depths to the unconformity, ranging from 0 to 500 metres. At the Maverick zone on the Moore Lake property, depth to the unconformity is 270 metres.
MOORE LAKE PROPERTY, ATHABASCA BASIN
JNR’s Moore Lake uranium joint venture property is located 40 km south of Cameco's McArthur River mine and 45 km northeast of the Key Lake mine and mill complex. Denison has a 75% interest in the property.
click to enlarge
High-grade uranium mineralization was discovered in 2003, when drill testing of several geophysical targets on the property resulted in the discovery of the Maverick Zone, a pronounced structural corridor that has now been traced over a minimum strike length of 6.5 kilometres. Discovery hole, ML-25, returned 0.62% U3O8 over 9.1 metres (including 12% U3O8 over 0.4 metres). Among the best drill results to date on the Maverick Zone include 5.14% U3O8 over 6.2 metres in hole ML-55 and 4.03 e% U3O8 over 10.0 metres (including 20 e% U3O8 over 1.4 metres) in hole ML-61.
click to enlarge
In 2005, in-fill drilling on the Maverick zone successfully extended the main high-grade mineralized lens over a minimum strike length of 350 metres, while step-out drilling along the Maverick structural corridor resulted in the discovery of two new zones (‘525’ & ‘527’). The ‘527’ zone, located 450 metres to the northeast of the main lens discovery hole ML-25, has returned a best assay to date of 1.53% U3O8 over 6.6 metres, including 2.22% U3O8 over 4.0 metres.
Uranium mineralization has now been traced over a 1.7-kilometre length of the minimum 6.5-kilometre long Maverick structural corridor. Over 50% of this corridor has yet to be drill tested.
In 2006, infill drilling on the Maverick Main zone continued to intersect high-grade uranium mineralization. ML-140 returned 3.20% U3O8 over 6.5 metres including a 3.5-metre intercept of 5.25% U3O8, 2.1% nickel and 0.65% cobalt. ML-139 returned 1.23% U3O8 over 8.5 metres, including a 1.5-metre intercept of 4.20% U3O8. ML-133 intersected two zones of mineralization. A high-grade zone at the unconformity returned 2.72% U3O8, 2.30% nickel and 0.905% cobalt over 5.0 metres, including a 2.0-metre intercept of 4.25% U3O8. ML-133 also intersected mineralization in the basement associated with clay-altered graphitic pelites, returning 0.611% U3O8 over 3.5 metres.
Uranium mineralization was intersected in all three holes that tested the ‘527’ area in 2006, with the best result obtained from ML-136 returning 0.50% eU3O8 over 7.0 metres.
The 2007 winter exploration program included ground geophysics and a property-wide airborne resistivity and magnetic survey. Diamond drilling focused on muskeg and lake covered targets in the West Venice, Venice, Volhoffer, Esker and West Maverick areas.
Project operator, Denison, reports that the summer diamond drilling program is nearing completion. In total, 13 holes comprising some 5,500 metres will have been completed on the project this year. The primary focus was following up on a number of geological and geophysical targets proximal to the Maverick Zone mineralization. A geophysical program, consisting of 60 kilometres of linecutting and a ground resistivity survey, is also planned.
ATHABASCA BASIN PROPERTIES
JNR’s 100 % Way Lake property is located 55 kilometres east of the Key Lake Mine and 35 kilometres southeast of the Moore Lake joint venture property. It consists of 17 contiguous claims totalling 71,795 hectares. JNR Resources holds an unencumbered 100% interest in the property.
JNR completed a prospecting and mapping program on the Way Lake claims and surrounding ground during the 2006 summer field season. High-grade uranium mineralization was obtained from outcrop sampling of a previously identified massive pitchblende vein, now referred to as the Hook Lake showing. Two grab samples collected from the vein returned 40.1 % and 48% U3O8. The uranium mineralization is also associated with significant lead (up to 8.8%), rare earth element and thorium enrichment, and anomalous boron, cobalt and vanadium values.
The 2008 program is budgeted at $2.5 million and will consist of a planned 10,000 metres of diamond drilling as well as additional geological mapping and prospecting.
The initial focus of attention is some 60 kilometres of arcuate and structurally displaced EM conductors located in the southwest portion of the property (Walker Lake area), specifically those segments that have the geological requirements essential to host substantial concentrations of uranium mineralization. A major prospecting campaign completed during the summer of 2007 identified uranium mineralization in several outcrop showings coincident with this conductive trend. The most significant are the Walker Lake showings which occur over a 3.0-kilometre long by 1.0-kilometre wide area. Grab samples returned from 0.017 to 0.079% U3O8 (Reference: March 19, 2008 news release).
The drilling program will also continue testing of the Hook Lake area and three additional showings discovered during the 2007 prospecting campaign: West Way (up to 0.475% U3O8), EWA (up to 0.492% U3O8) and Nob Hill (0.130% to 0.141% U3O8).
Multiple exploration programs that include airborne geophysics, ground geophysics, prospecting and sampling, are ongoing at all of JNR’s 100% owned and JNR/Denison joint-venture properties in the basin. Follow-up diamond drilling programs are under consideration for several of the more advanced projects.
NEWFOUNDLAND PROPERTIES
Rockybrook Uranium Project
JNR has an option agreement with Altius Minerals Corporation to earn a 70% interest in their Rocky Brook uranium property in western Newfoundland. The property features three distinct areas of unsourced, altered and mineralized sandstone boulders with historically reported values ranging from 1% to more than 10% U3O8 as well as very high-grade silver contents.
A successful reconnaissance-scale drill program in 2005 identified areas of alteration and geochemical enrichment analogous to the mineralized boulders. Significant radiometric anomalies were also identified in the glacial till overburden. Based on the positive results, JNR and Altius completed high-resolution radiometric, magnetic and electromagnetic airborne surveys in summer 2006 and a 2,281-metre (65 hole) drill program was concluded in December 2006. 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.
An 82-hole (2,486 metre) drill program was completed in 2007, and identified two areas of low level anomalous radioactivity at or near the overburden-bedrock interface. Both areas lie proximal to the high-grade boulder clusters. Several geochemically-enriched fault structures and/or redox alteration fronts thought to possibly control the high-grade uranium-silver mineralization have also been defined.
Anomalous uranium, copper and silver values were obtained in drill core from several of the 2007 drill holes at Rocky Brook, the most significant of which are narrow intervals in four holes drilled in the vicinity of the Birchy Hills and Wigwam Brook boulder fields. RB-07-144 and RB-07-152, drilled up ice of the Birchy Hill showings, intersected 0.5-metre intervals returning 45.2 ppm U, 202 ppm Cu, 4.9 ppm Ag and 15.3 ppm U, 302 ppm Cu and 6.9 ppm Ag, respectively.
RB-07-192 and RB-07-196, drilled in the vicinity of the Wigwam Brook mineralized boulder field, intersected 0.5-metre intervals of 49.9 ppm U, 5.2 ppm Ag and 62.7 ppm U, 310 ppm Cu, respectively.
A property-wide water sampling program was completed on the project in summer 2008. The water sampling program was designed to assist in directing future drill campaigns using innovative geochemical procedures and modern analytical techniques in the primarily bog-covered terrain of the prospective Deer Lake Basin. Analytical results have been submitted to a known expert in the interpretation of geochemical data from this sample medium for review and recommendations
Topsails Uranium Project
The Topsails uranium property is located in west central Newfoundland and consists of 10,854 mineral claims covering 264,600 hectares. An alliance between JNR and Altius Resources Inc. was formed to jointly explore the land package with JNR and Altius each holding a 50% interest in the property. In return for generating the project, Altius retains a 2% gross sales royalty on uranium products and a 2% net smelter return on all other commodities. All future exploration expenditures will be shared on a pro rata (50:50) basis.
The exploration target is a volcanic-hosted uranium deposit. The claims cover prospective felsic volcanics and related intrusive rocks of the Topsails Igneous Suite and red bed sediments of the Springdale Group; representing a distinctive geological terrane of the Canadian Appalachians.
Volcanic-hosted uranium deposits are a significant source of high-tonnage, low-grade uranium, examples of which include Russia's largest uranium resource, the Streltsovka caldera (~280,000 tonnes U).
Historical regional lake sediment surveys outline several large areas of coincident anomalous uranium, fluorine and molybdenum; known pathfinders for volcanic-hosted uranium deposits. Limited reconnaissance work has identified radiometric anomalies associated with the volcanic rocks, representing significant exploration targets.
Analytical results from a property-wide lake sediment geochemical survey completed in the spring of 2008 and indicate anomalous uranium values with associated molybdenum and fluorine in a number of areas, the largest being 20 by 10 kilometres in size. With background values less than 10 ppm, anomalous uranium values of greater than 30 ppm to a maximum of 535 ppm have been identified in more than 30 lakes. These samples combined with historical surveys highlight four distinct areas of extensive uranium-molybdenum enrichment. The geochemically anomalous lakes lie within or adjacent to granitic rocks related to the caldera complexes targeted for exploration, and confirm the prospectivity of these rocks for hosting volcanic-related uranium mineralization.
JNR and Altius Resources have received and interpreted the preliminary data from a detailed 17,500 line-kilometre airborne radiometric and magnetic survey, and have identified fourteen areas for immediate follow-up. To that end, an extensive prospecting and geological mapping campaign was initiated in early July and will continue through to late October. The focus of the campaign is on the anomalous areas identified by the airborne and lake sediment surveys.
Politics
All of JNR’s properties are located within Canada, having a stable political climate and well defined mining exploration regulations and permitting processes.
Paper
JNR Resources Inc. trades on the TSX Venture Exchange under the symbol JNN. In the United States, JNR trades under the symbol JNRRF via the 'Pink Sheets', a centralized quotation service that collects and publishes market maker quotes for OTC securities. The OTC Bulletin Board is an electronic quotation medium for unlisted, non-Nasdaq, over-the-counter securities.
Outstanding as of 10/22/2007:
Share Outstanding: 81,895,505
Warrants Outstanding: 116,559
Options Outstanding: 4,175,000
Fully Diluted: 86,187,064
Number of Shares
Under Option Exercise Price Expiry Date
300,000 0.55 22-Jul-09
150,000 1.09 11-Jan-10
975,000 0.82 19-Jun-10
50,000 0.79 8-Mar-11
125,000 1.07 2-Oct-11
775,000 2.62 12-Jan-12
200,000 2.55 2-Jul-12
1,600,000 1.25 15-Feb-13
--------------------------------------------------------------------------------
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HowardHughs
15 years ago
Deals and expansions stir amid slumbering spot uranium market
Mon, Jan 12, 2009
Featured Article, Uranium Articles
By Luke Brocki - Exclusive to Uranium Investing News and U3O8.biz
The spot uranium market is flat this week, though that’s not the same as saying there’s nothing going on in the nuclear sector. On the contrary, the latter is teeming with deals and expansions, as nuclear producers around the world vie for dominance in an ever-expanding market.
First, the numbers. Price publisher Ux Consulting left its spot price estimate flat at US$53 a pound U3O8, as did rival publisher Tradetech, at US$52 a pound U3O8. UxC says the market is quiet and could stay that way for a number of weeks, seeing as sellers are in no hurry to attract buyers. At least not in a big enough hurry to warrant lowering prices to boost demand. Uranium’s long-term price is also unchanged this week at US$70 a pound U3O8, a level at which it’s expected to stay through the end of January.
Gazing into the crystal ball behind futures pricing, we see long-term uranium prices are expected to continue on their gentle rise. March futures are trading at US$56, June futures are worth US$57, September futures US$58, December futures US$62, and March 2010 futures are trading at US$64 a pound U3O8.
According to a weekly uranium update from Toll Cross Securities, things are looking brighter in the junior uranium sector. The Toll Cross Junior Uranium Index is up nearly 17% to 171.74 from 142.90. And according to a selection of stocks watched by Toll Cross, junior explorers are responsible for much of those gains. Week-over-week, junior explorers gained 37%. In fact, it was a great week for the entire sector, with advanced explorers gaining 27%, production visibility companies jumping 35%, and producers gaining 12%.
Now to the aforementioned deals and agreements, the bulk of which were in Africa this week. French nuclear giant Areva made headlines this week, after being awarded a license to build and operate a uranium mine in Niger. BBC News reports the Imouraren mine is to become Africa’s biggest uranium mine and the second-biggest and mine in the world. According to Areva, mining could commence as early as 2012, with an initial production projection at 5,000 tons of uranium a year.
According to fin24.com, a South African online financial news provider, Namibia’s uranium production is poised to continue hitting record levels, as the country’s third uranium producer gears up to come online by 2010. Forsys Metals plans to add to its presence in the producer field through one of its subsidiaries, Valencia Uranium. The site in question lies some 45 kilometres from the Rossing Uranium mine near Swakopmund, which has been online for some 33 years.
Fin24.com says as of mid-December, Rossing Uranium was on track to produce more than 4,000 tons of yellowcake in 2008, a level unseen since 1990. In November, Paladin Energy announced its Langer Heinrich mine, also in Namibia, had produced more than 650 thousand pounds of U3O8 during the September quarter alone.
Finally, the Canadian Press reports Canadian uranium juniors Crosshair Exploration and Mining Corp. and Target Exploration and Mining Corp. have agreed to combine their businesses to form a single uranium producer and developer.
A joint news release from the two companies states that market sentiment toward coastal Labrador has been affected by the Nunatsiavut government’s moratorium on uranium mining. So rather than throwing money at an uncertain project in the region, it seems Crosshair would rather spend it on the development of a Target project in Wyoming. The deal is still subject to regulatory approval for both companies
http://www.uraniuminvestingnews.com/1249/deals-and-expansions-stir-amid-slumbering-spot-uranium-market.html
HowardHughs
15 years ago
Lack of Cold WarWeapons ThreatensEnriched Uranium Shortage
By Vaughan Scully
S&P's The Outlook
Amid growing worries over the volatility of oil and natural gas prices and the environmental effects of burning coal, many electric utilities are turning to nuclear power for its history of stable fuel costs and lack of carbon dioxide emissions. A massive expansion of the global nuclear power industry is now taking shape, with plans being laid or construction already underway for more than 200 new reactors around the world - about a 50% increase from today's total. But a possible shortage of nuclear fuel has some companies building or planning to build uranium enrichment plants.
Underlying this shift is the belief that fuel for nuclear power plants - most plants use the uranium 235 isotope enriched to a concentration of between 3% and 5% - will be readily available at stable prices. According to the World Nuclear Association, "uranium's worldwide availability at economically viable cost is a key factor that would allow a sharp expansion in nuclear power."
Whether, in fact, a shortage will be the case a few years down the road is a matter of growing unease for utility executives and industry regulators, due to an expected shortage not of uranium itself - which is found in relative abundance around the world - but of the capacity to enrich "natural" uranium to the concentrations needed by the world's current and future fleet of commercial reactors. A shortage could materialize as soon as 2010, according to the Euratom Supply Agency - the body tasked by the European Commission with ensuring "the regular and equitable supply of nuclear fuels."
"The period from 2010 to 2013 could be very sensitive regarding the balance between enrichment services demand and offer," the Agency said in an April 2008 communique, adding it is also "concerned about the situation from 2013 onwards," and countries receiving enriched uranium from a single supplier "may face serious problems."
Much of the potential for a shortage of enriched uranium stems from the scheduled end of the Megatons to Megawatts program, a joint U.S./Russian effort begun in 1994 that takes highly enriched uranium out of Russia's cold war atomic arsenal and reprocesses it into commercial grade reactor fuel. The program supplies about half of the fuel consumed in the United States by nuclear power generation plants. It is scheduled to end in 2013, though it may supply smaller volumes afterward.
Current world enrichment capacity is about 45 million separation work units (SWUs). About 100,000 SWUs are needed to make enough uranium to power a standard size 1,000 MW nuclear power plant for one year. According to World Nuclear Association data, the loss of the Russian supply will create a deficit in the availability of enrichment services between 4 million and 12 million SWUs (8% and 20%of the current supply) by 2015 that will persist several years into the future.
The loss of the Russian supply comes at a particularly inconvenient time. Currently, much of the world's uranium enrichment capacity is found in aging plants that use the energy intensive "gas diffusion" process. Several of these plants are scheduled to be shut down in the coming years as new ones come onstream. The transition period, however, will occur just as the Megatons to Megawatts program shuts down, creating the potential for a serious supply crunch, especially if the new plants are unable to perform at their nameplate capacities due to technical or safety issues. Together, the Russian program and the plants scheduled to be shut down provide about 46% of the world's supply of enriched uranium.
Several companies are moving to fill this void in the $6 billion annual enrichment industry. Of the Western world's existing uranium enrichment companies, all three - USEC (NYSE: USU, www.usec.com), Areva (GSZ Paris NR, www.suez.com), and Urenco (www.urenco.com) - have multi-billion dollar, modern enrichment plants under construction that use the centrifuge method of enrichment, which is more energy efficient. A fourth, General Electric's (NYSE: GE) nuclear joint venture with Hitachi (NYSE: HIT), has submitted preliminary documents for a facility based on a new technology known as laser excitement.
In the United States, Urenco is building an enrichment facility in Hobbs, N.M. scheduled to open in the second half of 2009. After the first of a four-phase project, it will have a capacity of 1.6 million SWUs. Urenco currently operates three enrichment facilities in Europe with a combined capacity of about 10 million SWUs. It hopes to raise its overall capacity to 15 million by 2012.
Following closely behind is USEC, formerly a Department of Energy operation that was privatized in 1998. USEC runs the only enrichment facility in the United States currently in operation, and is building a new centrifuge-based facility in Piketon, Ohio. USEC hopes it will be operating by 2010, with full capacity of 3.8 million SWUs expected by 2012.
Also in the hunt for new capacity is France's Areva - which is controlled by the French government but has some listed shares. Areva is building a new 3 billion euro enrichment facility in France that will have a capacity of about 7.5 million SWUs by 2016. French utility conglomerate Suez recently agreed to take a 5% stake in the project. Areva also intends to begin construction of a $2 billion enrichment plant in Idaho Falls, Idaho in 2011, with operations expected to start in 2014, and full capacity of 3 million SWUs planned by 2019.
A GE/Hitachi plant will be built if a test facility expected to be completed in North Carolina this year demonstrates the commercial feasibility of new technology developed by and licensed from Australian firm Silex Systems (SLX Australia NR). The technology, laser excitement, is much more energy efficient than either centrifuge or gas diffusion systems. While its exact efficiency is classified, centrifuge technology is about 1.3 times as efficient as gas diffusion, while laser excitement is between two and 20 times as efficient.
Other sources of fuel are also possible. The Department of Energy is building a facility to produce mixed-oxide fuel (MOX), which can be made from spent reactor fuel. Already, 30 reactors in Europe use MOX fuel, and others in Japan also plan to use it. Each ton of MOX fuel would save about 80,000 SWUs.
Editor's Note: Vaughan Scully is a member of the Standard & Poor's editorial board. Mr. Scully's article appeared in S&P's The Outlook, 55 Water St., New York, NY 10041, 1 year, 48 issues, $298. www.standardandpoors.com.
http://www.theresourceinvestor.com/RI-archive/2008/1108-uranium.html
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futrcash
14 years ago
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