JNR tables Moore Lake and Lazy Edward Bay results

Vancouver — JNR Resources (JNN-V) reports that its winter drilling campaign with joint-venture partner, Kennecott Canada Explorations, intersected the geology required for the formation of unconformity-type uranium deposits on the Moore Lake and Lazy Edward Bay properties.

Kennecott is a division of London-based Rio Tinto (RTP-N).

The Moore Lake project is one of nine properties in the Athabasca Basin which the two companies hold on a 50-50 basis. The properties comprise a total of 2,000 square metres.

At Moore Lake, on the Puka Puka grid area, geochemical results from Hole ML-15 indicate strongly anomalous levels of uranium, nickel and cobalt, as well as a prospective kaolinite-illite clay signature throughout most of the sandstone column. The basement rocks returned highly anomalous boron values — up to 4,280 ppm. This is similar to the boron values obtained from mineralized holes at the Maverick zone, 8 km to the southwest.

Holes ML-18 and 19 were drilled on the MLE and Venice grids, respectively. Both holes intersected anomalous radioactivity in faulted felsic intrusives, well into the basement rock. Hole ML-18 cut 0.027% U3O8 over a 0.4-metre intersection. Hole ML-19 cut 5.4 metres grading 0.021% U3O8, followed by a 0.2-metre interval grading 0.094% U3O8.

JNR states that the sandstone column in hole 19 was largely illitic, with the basal portion returning anomalous uranium and nickel values. This is very suggestive of uranium-bearing hydrothermal fluids in the area. The company believes there is good potential for intersecting significant uranium mineralization updip from hole 19.

At the Lazy Edward Bay project, located along the southern shore of Cree Lake and immediately north of the Athabasca basement unconformity, good geochemical results were obtained over a 2-km strike length of the Horse conductor.

Elevated-to-anomalous levels of pathfinder elements (nickel, lead, copper, vanadium, cobalt and boron) were intersected in the basement rocks. Hole LE-1 hit highly anomalous zinc values — up to 0.62% zinc. The clay geochemistry along the conductor is typically mixed kaolinite-illite.

JNR feels that, when combined with other positive geological and geochemical features, the Horse conductor is an attractive target.

The company is evaluating and compiling data on the joint venture’s Hook Lake project, in preparation for field programs later this year.