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JNR Resources Inc.
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SYMBOL: V.JNN, JNRRF Website: www.jnrresources.com Corporate Contact Information Phone: (306) 382-2211 Toll Free: (877) 567-6463 Email: info@jnrresources.com |
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Company News (Sep 18, 2009) JNR Announces Results of Airborne Surveys on the Black Lake & Newnham Lake Uranium Projects ...Read More
Overview
JNR Resources Inc. (TSXV: JNN) (the 'Company') is a junior resource company with one of the strongest technical teams in the uranium exploration industry. The company has an interest in 345,000 hectares of highly prospective ground in the renowned Athabasca Basin of northern Saskatchewan, including the high-grade Moore Lake joint venture property with partner Denison Mines Corp.
JNR also holds an interest in more than 189,000 hectares in central Newfoundland, including 70% of the 6,450-hectare Rocky Brook joint venture with Altius Resources Inc., which features two distinct areas of unsourced, mineralized sandstone boulders with reported grades of over 10% U3O8 and very high silver contents. As well, JNR has an alliance with Altius to explore for volcanic-hosted uranium deposits on the 7,304 - claim, 182,600-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 35 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 32 years of industry experience, including 19 as a senior research scientist 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 modeling, numerical modeling, lead isotopes and 3-D visualization. Dr. Annesley's research activities have also included studying uranium deposits in Australia, eastern Canada and Nunavut. Dr. Annesley is an adjunct professor in Geology at the University of Saskatchewan, where he supervises graduate students.
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 25 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 CEO of Denison Mines Corp.
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
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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 6 properties totalling 189,818 hectares, a 26,550-hectare joint venture with Denison Mines Corp. (Denison) where JNR holds a 40% interest, and an additional 7 properties totalling 129,062 hectares in which Denison has 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.
WAY LAKE, ATHABASCA BASIN
JNR’s Way Lake property is located 55 kilometres east of the Key Lake Mine and 35 kilometres southeast of the Moore Lake joint venture. It consists of 17 contiguous claims totalling 71,795 hectares. JNR Resources holds an unencumbered 100% interest in this property.
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2006 Program
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, respctfully 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.
2007 Program
The 2007 program represents the first significant exploration carried out on the project lands in over 25 years. It consisted of the completion of 14 diamond drill holes totalling 2,467-metres, accompanied by 120 kilometres of linecutting, Horizontal Loop EM and ground magnetics, as well as a detailed 700 line-kilometre airborne VTEM survey over the Hook Lake showing and previously unsurveyed claims in the southeastern portion of the property. In addition, a major prospecting campaign carried out over the entire Way Lake project area resulted in the discovery of three new zones of anomalous radioactivity in outcrop (West Way, Nob Hill, and EWA). An orientation bulk till sampling survey was also completed.
In total, eight holes (WYL-07-01 to -04 and -06 to -09) tested the vicinity of the Hook Lake showing while four holes (WYL-07-05 and -10 to -12) tested a minimum 1.0-kilometre long, geophysically interpreted lineament located to the northwest of the showing. All 12 holes intersected significant structural features composed of brittle fracturing and/or ductile-brittle shearing. Of particular interest is a broad, roughly 20-metre wide northeast trending ductile-brittle fault, which correlates with the lineament and occurs some 80 to 90 metres from the showing. It is thought to represent the structure that controls the uranium mineralization at Hook Lake. Of the 12 holes, significant levels of radioactivity were intersected in three (WYL-07-01, -02 and -05).
2008 Program
The 2008 helicopter-supported program consisted of diamond drilling and prospecting. A total of 48 holes comprising 11,985 metres were drilled on a variety of targets including the previously discovered EWA, West Way, Nob Hill, and Hook Lake showings, the Walker Lake conductive trend and a broad zone of newly discovered surface mineralization associated with a five-kilometre-long folded conductor in the Fraser Lakes area.
The B zone showings occur along the northern extent of this folded conductor and are currently the more prospective of the two mineralized zones. Nearly 70 individual mineralized outcrop sites were identified over a 500-metre-wide by 1.5-kilometre-long area. Over 70% of the grab samples taken from these sites assayed from 0.03 to 0.457% U3O8.
The B zone was tested by three drill holes (WYL-08-524 to 526) at the end of the 2008 program. Although they could not test the optimum target, namely the graphitic pelite/pegmatite contact that occurs beneath muskeg, all three intersected uranium and thorium mineralization, accompanied by rare-earth element enrichment and anomalous levels of pathfinder elements. The best results were from hole 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% U3O8, including a 3.0-metre intercept of 0.193% U3O8.
The A zone showings occur in a fold nose at the southern end of the conductor. Seven holes (WYL-08-508 to 514) 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. Outcrop samples in the area contained up to 0.042% U3O8.
Results from the 38 remaining 2008 holes were reported on February 27th 2009 and are as follows:
Eight holes (WYL-08-501 to 507 plus one abandoned hole) tested the EWA showings located west of Walker Lake in the southern half of the project area. These showings returned up to 0.492% U3O8 in surface grab samples and are associated with a graphitic shear zone that correlates with a northeast-trending conductive zone. All of the holes intersected variably radioactive granitic pegmatite dykes. The best results were obtained from hole WYL-08-501, which returned 0.082% U3O8 over 6.5 metres from 4.50 to 11.00 metres, including a 3.5-metre intercept of 0.113% U3O8. Associated with the mineralization are anomalous boron, lead, nickel and molybdenum values.
At the Walker River grid, 14 holes (WYL-08-15 to 28) tested structurally disrupted weak EM conductors. All but two of the holes intersected strongly clay- and/or chlorite-altered, sheared and faulted graphitic pelites containing anomalous boron, copper, nickel, zinc, cobalt, vanadium and molybdenum values and locally anomalous uranium values.
Seven holes (WYL-08-29 to 35) tested structurally offset strong EM conductors on the Walker South grid. These holes intersected structurally disrupted graphitic pelites with weak to intense clay and chlorite alteration. The best analytical results were from hole WYL-08-31, which returned highly anomalous copper, nickel, zinc, cobalt and vanadium values, and locally anomalous uranium values within highly altered and sheared graphitic pelites.
The remaining nine holes were drilled in the northern half of the project. Five holes (WYL-08-515 to 519) were drilled at the Nob Hill showings, where up to 0.141% U3O8 was obtained from surface grab samples. All of the holes intersected multiple zones of discontinuous radioactivity associated with granitic pegmatites. Hole WYL-08-516 returned the best intercept of 0.018% U3O8 over 5.0 metres from 145.0 to 150.0 metres. The highest individual uranium value of 0.062% U3O8 was obtained from 153.0 to 153.5 metres in hole WYL-08-518.
Two holes (WYL-08-520 & 521) tested the West Way showings where up to 0.492% U3O8 has been obtained in grab samples. The surface mineralization is associated with steeply dipping east-west fractures. Both drill holes returned anomalous copper, nickel and locally anomalous cobalt and arsenic values from sheared and weakly altered diorite. Hole WYL-08-521 returned the best uranium value of 76 ppm over 0.5 metres.
In the Hook Lake area, two holes (WYL-08-522 & 523) tested geophysical targets and intersected multiple zones of fracturing and shearing accompanied by weak to moderate alteration and locally anomalous radioactivity. Hole WYL-08-523 returned the best uranium value of 35 ppm over 0.5 metres.
2009 Program
During the winter 2009 program a total of 2,699 metres were drilled in nineteen holes on Zone B, with four holes abandoned due to poor overburden conditions. The drilling program tested a 1,500-metre strike length of the Fraser Lakes B zone, which occurs along the northern extent of a five-kilometre-long, folded EM conductor comprised of Wollaston Group graphitic pelitic gneisses and uraniferous granitic pegmatites (news release: February 20, 2009). All holes were drilled at a 45 to 50 degree angle, heel to toe across the conductive horizon on sections consisting of two to four drill holes.
Multiple intervals of uranium and/or thorium mineralization were intersected in several drill holes (news release: July 16, 2009 - Table 1). 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 cut-off of 0.029% U3O8, hole #39 returned seven mineralized intervals over a 30-metre downhole length, including a 0.15-metre intercept of 0.166% U3O8 and 0.112% thorium. The best result from hole #41 was 0.134% U3O8 and 0.77% thorium over 1.0 metres, while the best result from hole #50 was 0.183% U3O8 and 0.062% thorium over 1.0 metre.
Hole WYL-09-46 returned multiple intervals of thorium mineralization including 0.109% thorium and 0.013% U3O8 over 7.0 metres. Highly anomalous concentrations of other metals are also present in a number of holes. Hole WYL-09-38 returned 0.117% copper, 0.056% nickel, 0.044% zinc, 0.068% molybdenum and 44 ppm uranium over 6.5 metres. Also of note is that the alteration and structural patterns associated with the mineralized intervals are analogous to the basement-hosted mineralization at Eagle Point, Millennium and P-Patch.
In 2009 a fully integrated geological/geophysical 3D GOCAD model was constructed to better define future drill targets.
Black Lake
The Black Lake property consists of ten mineral claims totalling 41,783 hectares. It is located on the north rim of the Athabasca Basin of northern Saskatchewan, approximately 20 kilometres southeast of the town of Stony Rapids, and lies along the seasonal road to that community. JNR Resources holds a 100% unencumbered interest in the property.
The property covers a 40-kilometre strike length of the Snowbird/Black Lake structure, a major crustal feature that represents the northern strike extension of the mineralized Virgin River shear, located some 225 kilometres to the southwest. Depth to the unconformity in this area is estimated to be around 200 metres along the northern property boundary, and increasing to several hundred metres near the southern boundary.
Importantly, a number of the target areas on the property are amenable to year-round exploration, including diamond drilling.
2005 Program
In 2005, JNR completed a 1,400 line-kilometre airborne magnetic and MEGATEM survey over the property, resulting in the identification of several anomalous EM and ground magnetic responses. The interpreted EM conductors are anywhere from two to eight kilometres in length. Four grids totalling 135 kilometres of cut line were established over some of the more promising conductors and ground EM surveys totalling 190 kilometres were subsequently completed.
2007 Program
In the fall of 2007, Goldak Airborne Surveys completed a 7,700 line-kilometre high-resolution gradient survey over the property, the results of which were used to better define future drill targets.
2008 Program
The 2008 drilling program (four holes; 2,815 metres) focused on a six-kilometre long northeast-trending conductive/magnetic target through the central portion of the property. An early ice break-up prevented completion of the planned program in its entirety. The drilling program intersected significant structural features and alteration in the sandstone, accompanied by anomalous clay geochemistry and pathfinder elements including partial U (up to 10.7 ppm), Ni (up to 5.0 ppm), As (up to 12.0 ppm), Co (up to 1.0 ppm) and V (up to 6.0 ppm).
A 2,454 line-kilometre airborne gravity gradiometer survey was conducted over the project lands in September 2008. The results of this survey will be used to better define future drill targets.
2009 Program
A 350 line-kilometre AirMT (ZTEM) test survey was flown in the spring of 2009 to delineate the EM conductors within the southern part of the property. Preliminary results provide additional constraints on the structural complexity of the Snowbird Tectonic Zone. As well, a fully integrated geological/geophysical 3D GOCAD model was constructed to better define future drill targets.
Newnham Lake
The Newnham Lake project is located on the northeastern margin of the Athabasca Basin approximately 50 kilometres east of the historic Nisto uranium deposit and 100 kilometres northwest of the Eagle Point Mine. The property comprises 27,723 hectares in eight contiguous mineral dispositions. JNR Resources holds a 100% unencumbered interest in the project lands.
JNR Resources began acquiring ground in the Newnham Lake area in 1997, after the previous owners allowed the ground to lapse due to budget constraints and more focused exploration efforts in the southeastern Athabasca Basin. In 1998, JNR completed an airborne magnetic survey, limited prospecting and soil sampling, a sandstone boulder survey and drilled 12 holes on claim S-99125, one of which tested a kimberlite target.
The airborne surveys identified several broad magnetic lows, the largest of which, the Deborah Lake pelitic basin, occurs entirely within the project lands. This northeast-trending basin is 20 kilometres by 4 kilometres in size and hosts numerous graphitic conductors and north-south trending thrust faults. This area is also characterized by a large number of surficial geochemical anomalies in lake sediments, peats and soils (up to 5000 ppm). Although the limited drilling program did not intersect any significant uranium mineralization, it did confirm the presence of structurally disrupted and strongly graphitic conductors.
Also of note is a 1-km by 2-km area of highly radioactive granites and pegmatites in the northeastern part of the property, and the overall relative shallowness of the sandstone cover at Newnham. The unconformity between the granites, pelites and the overlying sandstone transects the property near its eastern margin, with depth to unconformity estimated to range from 0 to 150 metres.
The shallowness of the sandstone cover coupled with the favourable geological, geophysical and geochemical features noted above, make this property a high priority exploration play.
2005-2006 Winter Program
A 1,550 line-kilometre helicopter-borne VTEM survey was completed over the entire property in November 2005. This airborne survey identified a number of conductive and structural trends. Of particular interest is a 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 5000 ppm uranium).
A follow-up 110-kilometre linecutting and ground EM program to ground-define drill targets was completed in February 2006.
2008 Program
In the spring of 2008, a 4,200 line-kilometre high resolution gradient magnetic survey was flown over the project lands. Nine initial 'Zones of Interest' were identified, some of which correlate with previously defined VTEM and DIGHEM anomalies.
2009 Program
In July 2009, Geotech Ltd. flew a 1,547 line-kilometer, high-resolution, ZTEM aeromagnetic geophysical survey over the Newnham Lake property. The data from this survey helped identify seven “Zones of Interest” for further investigation.
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.
High-grade uranium mineralization was discovered in April of 2000 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% eU3O8 over 10.0 metres (including 20% eU3O8 over 1.4 metres) in hole ML-61.
In 2005, infill 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, returned a best assay to date of 1.53% U3O8 over 6.6 metres, including 2.22% U3O8 over 4.0 metres.
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.
Since 2005, 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.
NEWFOUNDLAND PROPERTIES
Rocky Brook Uranium Project
In May 2009 JNR received confirmation from Altius Resources Inc. that the company has earned an undivided 70% participating interest in the Rocky Brook project. Located in western Newfoundland, this property features two 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 were also 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.
A water geochemical survey carried out in the summer of 2008 will assist in delineating additional drill targets in the primarily bog-covered terrain of the Deer Lake Basin. 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. Uranium and associated trace element anomalies were detected up-ice of the Birchy Hill Brook, Wigwam, and Goose boulder fields. Several additional target areas were also identified. 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.3
In the winter of 2009 a 23.5 km IP survey was completed over several of the geochemically anomalous areas. The 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 at optimum localities.
Incorporation of the new IP and geochemical data into the current 3D model has been completed. A 2009 fall diamond drilling program is currently underway and it will consist of twenty-five to 30 holes comprising up to 2,000 metres.
Topsails Uranium Project
The Topsails uranium property is located in west central Newfoundland and consists of 7,304 mineral claims covering 182,600 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.
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 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.
A detailed 17,500 line-kilometre airborne radiometric and magnetic survey was flown and identified fourteen areas for immediate follow-up. To that end, an extensive prospecting and geological mapping campaign was carried out in the summer/fall of 2008. The focus of the campaign was on the anomalous areas identified by the airborne and lake sediment surveys.
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.
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 8/17/2009:
- Share Outstanding: 89,996,734
- Options Outstanding: 5,850,000
- Fully Diluted: 95,846,734
| Number of Shares | ||
| Under Option | Exercise Price | Expiry Date |
| 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 |
| 2,000,000 | 0.30 | 28-Jul-14 |
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