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JNR Resources is a junior mining company led by a highly experienced management team with proven discovery success in uranium exploration. An early player in the renowned Athabasca Basin of northern Saskatchewan, JNR began amassing key exploration properties in 1997 and controls over 245,000 hectares of highly prospective ground. The Company's expertise led to the discovery of the high-grade Maverick Zone (Moore Lake Joint Venture) in 2000.
Altius and it's partner JNR Resources continue to explore the Rocky Brook
Uranium project in western Newfoundland. Over the past 3 years of exploration an 1,100-km high-resolution radiometric,
magnetic, and electromagnetic airborne geophysical survey has completed and in excess of 5,000 metres of diamond drilling.
Most recently (2009-September) JNR commenced another drilling program at the
Rocky Brook project in western Newfoundland to test targets identified by a
recently completed induced polarization geophysical survey. The results indicate
the presence of several prospective structural features coincident with certain
geochemical trends, which were not properly tested by previous drilling. The
current program will include up to 2,000 metres of drilling in twenty-five to
thirty shallow drill holes.
JNR has completed their 70% earn-in and is solely funding the current
exploration program.
The Rocky Brook property is approximately 11,000 hectares in size and covers the northeast margin of the Carboniferous Deer Lake Basin. It features three distinct areas of unsourced, altered and mineralized sandstone boulders, where previous sampling of several of the boulders reported assay values of up to 11.5% uranium oxide (U3O8), 859 oz/t (2.9%) silver and 11.8 oz/t (404 g/t) gold.).
The mineralized sandstone boulders occur within relatively thin tills and strongly resemble and overlie the local Humber Falls Formation. The boulders are interpreted to be of local origin, derived from the north. Westfield's previous work had assumed a source from the south and as such their drilling targeted the general areas of the boulders in that direction but was NOT successful in locating the boulder source.
Since being acquired by Altius in 2001, exploration programs on the property have included a digital compilation of previous data, a detailed airborne gradiometer survey, lithogeochemistry, prospecting, grid geophysics and 3 drilling campaigns totaling in excess of 5000 meters that included borehole radiometric surveys and extensive till and heavy mineral analyses.
