JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORF;
FRA: 2JR1) (“
Jourdan” or the
“
Company“) is pleased to publish the second set of
assay results of its summer/fall 2022 drilling campaign on its
flagship Vallée Lithium Project, located 35 km north of Val-d’Or in
Quebec, Canada. This set of assay results is from 9 holes and
follows the results of 10 holes published in the Company’s news
release dated January 18, 2023. Results from 13 additional drill
holes are expected in the coming weeks.
Four of the nine holes reported in the second
set of assays encountered high-grade lithium concentrations
exceeding 1.0% Li2O, including hole VAL22-7-4 that intersected
1.23% Li2O over 4.15
m from 152.85 to 157.00 m, as shown in Table 1 below.
Table 1 – Highlights from the Second Set
of Assay Results
Drill hole |
From (m) |
To (m) |
Length |
LiO2 % |
VAL22-7-1 |
109.1 |
110.3 |
1.2 |
1.02 |
VAL22-8-1 |
90.7 |
93.7 |
3 |
1.49 |
VAL22-7-3 |
192.3 |
194.3 |
2 |
1.02 |
VAL22-7-4 |
152.85 |
157 |
4.15 |
1.23 |
*drill core width only, does not represent true
width
The 2022 summer/fall drill program consisted of
32 holes totaling 6,585 m. With these results, the Company has now
received assays from 19 of these 32 holes, and awaits assay results
from the final 13 holes, expected in the coming weeks.
The 2022 summer/fall drilling program was
conducted to the east of the Company’s previous drill programs and
targeted the eastern and southeastern extension of the known
spodumene-bearing pegmatite swarm. The Company intends to use the
results of the drilling and assaying to update its geological model
and to help the Company establish an initial mineral resource
estimate at the Vallée property.
The results of the 2022 summer drilling campaign
have confirmed the presence of a new spodumene-bearing pegmatite
swarm on the Vallée property. The Company believes that this
previously underexplored eastern extension has not been exposed by
the North American Lithium mine to the west of Vallée (see Fig.
1).
“Once more we can demonstrate the easterly
extent of our pegmatites with significant thicknesses and grades
well above 1% Li2O,” said Dr. Andy Rompel, executive chairman of
Jourdan, “and we are keenly anticipating more drillhole assay
results from even farther east within our flagship Vallée project
to increase the geological continuity there.”
“This latest drilling program has brought us
closer to establishing an initial mineral resource estimate at our
Vallée property. Vallée sits immediately east of North American
Lithium’s lithium mine, which we have been advised is expected to
enter into production in April of this year. There is significant
mining activity in the Vallée area, and Jourdan continues to remain
optimistic about becoming a key lithium player in the region,” said
Rene Bharti, Chief Executive Officer of Jourdan.
The drill program was conducted by Forage
LaMontagne Fortier from Rouyn-Noranda, Québec, under the
supervision of Alex Belobordov Géologue Inc. (ABG Exploration) of
Laval, Quebec.
All samples from the new drill program have been
sent to Impact Global Solutions Inc.’s laboratory in Delson, Québec
(“IGS”) for analysis by sodium peroxide fusion and ICP finish. This
laboratory is recognized by the industry and accredited ISO/MEC
17025 by the Standards Council of Canada. In addition to the
quality assurance and quality controls (“QA/QC”)
employed by IGS, Jourdan developed a rigorous QA/QC protocol for
its operators, including the insertion of analytical standard
samples, duplicates and coarse silica blanks on a systematic
basis.
Figure 1: The Vallée property is immediately
east of the North American Lithium mine. This figure depicts the
2011, 2021 and 2022 completed drillholes with a total of 79
drillholes since
2011.https://www.globenewswire.com/NewsRoom/AttachmentNg/cdb0a7f0-73d5-4afe-83fb-3eac1ecfd538
The Company’s now completed diamond drilling
program of 6,585 m was to follow up on the results of a bulk sample
collected in 2018 and the fence line drilled in 2011 and 2021 along
the western side of the Company’s Vallée property, which borders
the North American Lithium mine. Management anticipates that
results of the drilling program will substantially extend the known
deposit at the Company’s Vallée property eastwards.
Figure 2: The location
of the Vallée property and recent Jourdan drill holes relative to
Sayona’s North American Lithium mine near Amos,
Quebec.https://www.globenewswire.com/NewsRoom/AttachmentNg/2f0c6d94-08ed-4c46-986e-2cb09bfd5e02
Table 2 – Detailed Assay
Results:
Drill hole |
From (m) |
To (m) |
Length |
LiO2 % |
VAL22-5-8** |
no significant results |
VAL22-7-1 |
109.1 |
110.3 |
1.2 |
1.02 |
VAL22-7-1 |
202.05 |
202.35 |
0.3 |
1.27 |
VAL22-7-2 |
no significant results |
VAL22-7-3 |
192.3 |
194.3 |
2 |
1.02 |
VAL22-7-4 |
152.85 |
157 |
4.15 |
1.23 |
VAL22-7-4 |
197.25 |
202.15 |
4.9 |
1.01 |
VAL22-8-1 |
90.7 |
93.7 |
3 |
1.49 |
VAL22-8-3 |
no significant results |
VAL22-8-4 |
189.65 |
192.65 |
3 |
0.69 |
VAL22-8-5 |
89 |
102.6 |
13.6 |
0.50 |
* drill core width only, does not represent true
width** Sections of drill hole VAL22-5-8 extended onto mining
claims that the Company previously sold to North American Lithium.
For more information about the disposition, please see the
Company’s press release dated November 14, 2022, which is available
under the Company’s SEDAR profile at www.sedar.com.
Drillhole No. |
Easting |
Northing |
Azimuth |
Dip |
Depth |
VAL22-5-6 |
294098 |
5365298 |
40 |
-55 |
204 |
VAL22-5-7 |
294101 |
5365429 |
40 |
-55 |
201 |
VAL22-5-8 |
294108 |
5365528 |
40 |
-55 |
201 |
VAL22-6-1 |
294161 |
5364911 |
200 |
-55 |
201 |
VAL22-6-2 |
294161 |
5364911 |
20 |
-55 |
234 |
VAL22-6-3 |
294169 |
5365060 |
40 |
-55 |
201 |
VAL22-6-4 |
294182 |
5365137 |
40 |
-55 |
201 |
VAL22-6-5 |
294193 |
5365215 |
40 |
-55 |
201 |
VAL22-6-6 |
294197 |
5365297 |
40 |
-55 |
210 |
VAL22-6-7 |
294198 |
5365425 |
40 |
-55 |
219 |
VAL22-6-8 |
294209 |
5365539 |
40 |
-55 |
201 |
VAL22-7-1 |
294278 |
5364770 |
40 |
-55 |
204 |
VAL22-7-2 |
294301 |
5364990 |
40 |
-55 |
210 |
VAL22-7-3 |
294320 |
5365087 |
40 |
-55 |
204 |
VAL22-7-4 |
294318 |
5365176 |
40 |
-55 |
210 |
VAL22-7-5 |
294326 |
5365262 |
40 |
-55 |
201 |
VAL22-7-6 |
294345 |
5365387 |
40 |
-55 |
201 |
VAL22-8-1 |
294391 |
5364808 |
40 |
-55 |
201 |
VAL22-8-2 |
294404 |
5364880 |
40 |
-55 |
201 |
VAL22-8-3 |
294403 |
5364984 |
40 |
-55 |
201 |
VAL22-8-4 |
294406 |
5365078 |
40 |
-55 |
216 |
VAL22-8-5 |
294413 |
5365171 |
40 |
-55 |
237 |
VAL22-8-6 |
294427 |
5365250 |
40 |
-55 |
201 |
VAL22-8-7 |
294425 |
5365344 |
40 |
-55 |
201 |
VAL22-9-1 |
294520 |
5364752 |
40 |
-55 |
198 |
VAL22-9-2 |
294528 |
5364990 |
40 |
-55 |
201 |
VAL22-9-3 |
294519 |
5365090 |
40 |
-55 |
201 |
VAL22-9-4 |
294529 |
5365188 |
40 |
-55 |
201 |
VAL22-10-1 |
294605 |
5364641 |
40 |
-55 |
201 |
VAL22-10-2 |
294609 |
5364749 |
40 |
-55 |
210 |
VAL22-10-3 |
294615 |
5364849 |
40 |
-55 |
210 |
VAL22-10-4 |
294621 |
5364945 |
40 |
-55 |
201 |
UTM 18 |
|
|
Total |
|
6,585 |
Table 3: Drill hole locations (NAD83, Zone
18).
Qualified PersonThe scientific
and technical information contained herein has been reviewed and
approved by Alexandr Beloborodov, P.Geo., an independent consultant
that is a “qualified person” as defined in National Instrument
43-101 – Standards of Disclosure for Mineral Projects.
About Jourdan Resources Inc.
Jourdan Resources Inc. is a Canadian junior mining exploration
company trading under the symbol “JOR” on the TSX Venture Exchange
and “2JR1” on the Stuttgart Stock Exchange. The Company is focused
on the acquisition, exploration, production, and development of
mining properties. The Company’s properties are in Quebec, Canada,
primarily in the spodumene-bearing pegmatites of the La Corne
Batholith, around North American Lithium’s Quebec Lithium Mine.
For more information:Rene
Bharti, Chief Executive Officer and PresidentEmail:
info@jourdaninc.comPhone: (416) 861-5800www.jourdaninc.com
Cautionary statements
The content and grades of any mineral deposits
at the Company’s properties are conceptual in nature. There has
been insufficient exploration to define a mineral resource on the
property and it is uncertain if further exploration will result in
any target being delineated as a mineral resource.
This press release contains “forward-looking
information” within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, but is not
limited to, statements with respect to the Company’s summer 2022
drill program, including in respect of the anticipated additional
assay results and management’s expectations that they will extend
the known deposit, North American Lithium’s ability to commence
production at its adjacent Quebec Lithium Mine, and the ability of
the Company to update its geological model and establish an initial
mineral resource estimate at its properties, become a key lithium
player in the greater Vallée area, and execute its business plan.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as “plans”, “expects” or “does
not expect”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or “does not anticipate”, or
“believes”, or variations of such words and phrases or statements
that certain actions, events or results “may”, “could”, “would”,
“might” or “will be taken”, “occur” or “be achieved”.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Jourdan to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to: receipt
of necessary approvals; general business, economic, competitive,
political and social uncertainties; future mineral prices and
market demand; accidents, labour disputes and shortages and other
risks of the mining industry. Although Jourdan has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information 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 information. Jourdan does not undertake
to update any forward-looking information, except in accordance
with applicable securities laws.
NEITHER 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
RELEASE.
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