TORONTO, March 24, 2022 (GLOBE NEWSWIRE) -- JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORFF) (“Jourdan” or the “Company”) is pleased to announce that it has expanded its winter 2022 drilling campaign after all of its first eight drillholes intersected the newly identified spodumene-bearing pegmatite swarm on its Vallée property. For more information on Jourdan’s drill program, please see the Company’s press release dated March 7, 2022, which is available under the Company’s SEDAR profile at www.sedar.com
Jourdan has expanded its drilling campaign by adding another already permitted line of eight drillholes of 200m each for a total of an additional 1,600m to the 1,608m already completed in 2022, extending the lines 3, 4 and 5 to the north, south, and east (see Fig. 1).
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dcccd619-9a05-4f57-803f-afe5f8b7ee9c
| Drillhole* |
Description** |
| VAL22-3-5 |
17 interceptions of 1 to 3m spodumene bearing pegmatite dyke. |
| VAL22-4-5 |
8 interceptions of 1 to 2m spodumene bearing pegmatite dyke. |
| VAL22-4-4 |
8 interceptions of 1 to 2m spodumene bearing pegmatite dyke. |
| VAL22-4-3 |
9 interceptions of 1 to 4m spodumene dyke including 1 interception of a 16m spodumene bearing pegmatite dyke. |
*Please see the Company’s press release dated March 7, 2022, for information about Jourdan’s other four drillholes, being VAL22-2-6, VAL22-2-7, VAL22-3-6, and VAL22-4-6.
** drill core width only, does not represent true width.
Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8e0a1ffd-3e6c-4b14-9bcd-7c0be1755672
Figure 3 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1591ce6c-e308-4246-8739-1faeade59081
The Company’s 3,200m diamond drilling program is intended 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. This drilling campaign is roughly laid out on a 100m x 100m grid and aims at completing the northern extension of the drilled fence line previously started during Q3 2021. The drill program is anticipated to substantially extend the known deposit at the Company’s Vallée property eastwards. Since February 2022, 16 holes of approximately 200m depth each are now being drilled aiming at the pegmatite swarm identified by the trenching of the bulk sample collected on the Vallée property in 2018. The assay results from the bulk sample revealed high Li2O grades (for more information, please see the Company’s press release dated April 29, 2021, which is available under the Company’s SEDAR profile at www.sedar.com), which have encouraged the Company to continue exploration and exploratory drilling along the strike and depth extents of its Vallée property.
Jourdan is significantly enlarging its database by adding more drillholes since the start of the exploration work in 2011. The 2011 drilling comprised 21 drillholes (4,256m), the 2021 campaign consisted of eight drillholes (1,680m) and with the planned 3,208m round of drilling in 2022, Jourdan is on track to having more than 9,200m (45) of core that the Company intends to use in the future to establish a preliminary mineral resource estimate.
Rene Bharti, CEO of Jourdan, stated, “These new intersections are extremely important for the success of Jourdan. They show that the size of our deposit is potentially much larger than we initially hoped, as we continue to find new mineralization in new zones we explore. Indeed, with a substantial amount of flow-through cash to work with, we believe a more aggressive drill program will ultimately lead us to the preliminary mineral resource estimate that we have been working towards.”
Jourdan’s Executive Chairman, Dr. Andreas Rompel, stated, “The known size and strike of the various pegmatites on our properties keeps growing the more we drill, and this last thick intersection deeply encourages us to continue drilling the northerly and easterly extent of the Li-bearing pegmatite swarm, in particular the newly discovered thick vein which is not exposed in the neighbouring mine. This pegmatite represents a significant addition to the known deposit size.”
Qualified Person
The 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
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 producing Quebec Lithium Mine.
For more information:
www.jourdaninc.com
Rene Bharti, Chief Executive Officer and President
Email: info@jourdaninc.com
Phone: (416) 861-5800
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 winter 2022 drill program, including its scope and the Company’s expectation that it will continue to extend the known deposit at its Vallée property, future drill programs of the Company, and the ability of the Company to establish a preliminary mineral resource estimate at its properties and to 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.
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