JNR Resources - Acquisition of New Uranium Prospect.VANCOUVER, British Columbia--(BUSINESS WIRE)--July 4, 1997--JNR Resources Inc. (VSE See DOS/VSE. VSE - Virtual Storage Extended :JNN JNN Joint Network Node JNN Journal of Neonatal Nursing .) Mr. Dale Hoffman, President of JNR Jnr Junior Noun 1. Jnr - a son who has the same first name as his father Jr, Junior son, boy - a male human offspring; "their son became a famous judge"; "his boy is taller than he is" Jnr Resources Inc. (the "Company") is pleased to announce the acquisition of an exciting new uranium prospect on the northeast margin of the Athabasca Basin of Saskatchewan. This prospect has the potential to become the Company's most significant Saskatchewan property. The Cyprian Lake property, consisting of approximately 60,000 acres, covers a huge uranium anomaly with grades of up to 1.4 percent uranium in soils (peat and muskeg mus·keg also mas·keg n. A swamp or bog formed by an accumulation of sphagnum moss, leaves, and decayed matter resembling peat. [Cree maskek. ). This anomaly was discovered in 1975/76 by a joint venture project managed by Saskatchewan Mining and Development Corporation (SMDC SMDC Space and Missile Defense Command (US Army) SMDC Server Management Daughter Card SMDC St. Mary's Duluth Clinic (Duluth, MN) SMDC Shielded Mild Detonating Cord ), but was never satisfactorily explained by subsequent exploration although, to the best of the Company's knowledge, minimal up-ice prospecting was done. Three diamond drill holes intersected a zone of intensely hematized and kaolinized granite. This zone is a result of hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. alteration and is economically very significant. It is believed that the source of the uranium in soils is a fault-controlled uranium deposit in basement rocks up-ice from the Uranium anomaly. Men and equipment are presently being mobilized, and an aggressive program of boulder prospecting, ground and airborne geophysics, after which drilling will commence, to find the source of the high-grade uranium in soils. A finder's fee in the maximum amount allowable under Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). policy shall be paid to Robert J. Munday, Ph.D., P. Geol., for providing the property details to the Company. This additional property brings the total held by JNR Resources Inc. to over 750,000 acres in a very prospective area within the Athabasca Basin, in which exploration programs have been and are being outlined to advance the projects to the drilling stage. More information will be released as it becomes available. JNR RESOURCES INC. Dale W. Hoffman, President -0- Note to Editors: The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of the content of this News Release. CONTACT: JNR Resources Inc. Dale W. Hoffman, 604/684-5118 1-800-661-4050 Toll Free http://www.stockgroup.com/jnn |
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