N@N

JNR/Altius Extend Mineralized Zone at the Koorae Cu-Mo-Au-Ag Prospect, Topsails Project, Newfoundland

^{Published on 2011-01-05 05:10:26 - Market Wire}
 

TSXV:JNN
Email:  [ info@jnrresources.com ]
Website:  [ www.jnrresources.com ]

SASKATOON, Jan. 5 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company') is pleased to announce geochemical results from the Koorae copper-molybdenum-gold-silver (Cu-Mo-Au-Ag) prospect on their Topsails Uranium/Rare Earth Elements/Copper (U-REE-Cu) project in west-central Newfoundland. The Topsails project 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.

Highlights from grab samples collected from the main 235 m long area exposed at the Koorae prospect include 0.84% Cu, 0.9 g/t Ag, and 0.02% Mo, and up to 0.41% Cu within its eastern extension. South of the main mineralized area up to 0.91% Cu, 3.9 g/t Ag, and 0.008% Mo has been observed. At the West Trench, discontinuous base metals mineralization with up to 0.20% Cu and 0.22% Pb was identified.

The 2010 exploration program, budgeted at approximately $500,000, focused on the Koorae Cu-Mo-Au-Ag prospect and five other significant areas (Railway U showing, Sheffield Lake South Cu prospect, Long Range Mountain U-REE prospects A and B, and Catcher's Pond Cu prospect). Extensive trenching of the Koorae prospect area was carried out; including extending the main porphyry zone of Cu mineralization to a length of >200 metres and excavating additional trenches over nearby soil geochemical anomalies. Detailed geological mapping and extensive sampling were completed on all the trenches, as well as an IP/Resistivity survey over the prospect area.

In 2008, reconnaissance prospecting on the Topsails Project resulted in the discovery of mineralized boulders which returned assays up to 3.5% Cu, 0.12% Mo, 35.1 g/t Ag, and 0.18 g/t Au. Follow-up trenching, mapping, and sampling (rock and soil) in 2009 identified a mineralized area approximately 100 metres by 15 metres in size and consisting of disseminated and fracture-related copper mineralization in quartz-feldspar porphyry (QFP), altered volcanic rocks, and tectonized granite. (See JNR News Release of November 30, 2009).

The western extension of the main mineralized trench is dominated by QFP with lesser amounts of mafic and felsic volcanic rocks, and mafic dykes.  Copper mineralization is ubiquitous in the porphyry with samples returning up to 0.84% Cu, 0.9 g/t Ag, and 0.02% Mo. The eastern extension of the main trench, comprising altered felsic volcanic rocks with lesser amounts of mafic dykes and quartz diorite, reveals a portion of the previously identified high-grade zone.  Significant Cu mineralization occurs in this excavation with up to 0.29% Cu, 1.5 g/t Ag, and 0.07% Mo from welded tuffs and 0.41% Cu from a rhyolitic flow.

The south trench (south of the main mineralized area), is comprised of weakly to moderately foliated granodiorite and lesser mafic dyke(s). Cu mineralization has been observed in the granodiorite with samples returning up to 0.91% Cu, 3.9 g/t Ag, and 0.008% Mo.

The West Trench (located approximately 500 metres west of the main mineralized area) is dominated by massive mafic volcanic rocks with lesser felsic volcanic rocks (dykes?). Mineralization is irregular with up to 0.20% Cu and 0.22% Pb within altered mafic volcanic rocks with quartz-epidote veinlets, malachite, pyrite, and galena.

The last three trenches (North Trench #1, North Trench #2, and East Trench) are comprised entirely of QFP. Minor Cu mineralization has been observed in the East trench, whereas the two North trenches are essentially unmineralized. Hematite alteration in all three trenches is less extensive than that of the main Koorae showing.

As part of their 2011 Topsails exploration program, the Companies are planning additional soil geochemistry surveys and trenching, to further extend the Koorae prospect area.

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 340,197 hectares of highly prospective ground in the renowned Athabasca Basin of northern Saskatchewan.

JNR's Director of Exploration, Dr. Irvine R. Annesley, P.Geo., is the qualified person responsible for the technical data presented in this release. All samples were analysed at the Saskatchewan Research Council Laboratory in Saskatoon, an ISO/IEC 17025:2005 accredited facility. 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.