TORONTO, Nov. 02, 2022 (GLOBE NEWSWIRE) -- JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORF; FRA:2JR1) (“Jourdan” or the “Company“) is pleased to announce the completion of 32 drill holes (6,400m) of its phase 3 summer 2022 drilling campaign on its Vallée property at a previously underexplored eastern extension (see Fig. 1).
The phase 3 diamond drilling was located to the east of the previous phases and aimed at the eastern extension of the known pegmatite swarm with its anticipated lithium-bearing spodumene mineral. The core produced from the drilling is scheduled to be logged, cut, sampled, and then sent to the assay laboratory for its lithium content. 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 resource estimate at its Vallée property.
Since starting its drilling program in September 2021, Jourdan has drilled fifty-eight (58) drillholes for a total of 11,600 metres.
Rene Bharti, Jourdan’s CEO, stated, “We are extremely proud to have completed a successful third phase of our drilling campaign. We believe that this drilling will be critical for our geological model, which will be the basis of the Company’s first initial resource estimate. We see that lithium demand continues to surge, and we believe that establishing such a resource is a critical next step in our goal of becoming a lithium producer in Quebec.”
Jourdan’s Executive Chairman, Dr. Andreas Rompel, stated, “We have yet again successfully completed another phase of exploration, proving the presence of our well-known lithium-bearing pegmatite swarm even further to the east. Its existence is deeply encouraging, and we intend to continue to pursue exploring the spodumene-rich veins eastwards.”
The drill program was conducted by Forage LaMontagne Fortier from Rouyn-Noranda, Québec, under the supervision of Alex Belo Géologue Inc. (ABG Exploration) of Laval, Quebec and GeoTasks from Sudbury.
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 58 drillholes since 2021.
The Company’s now completed diamond drilling program of 6,400m 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.
Jourdan has significantly enlarged its database by adding more drillholes since the start of the exploration work in 2011. The 2011 drilling comprised 21 drillholes (4,250m), the 2021 campaign consisted of eight drillholes (1,680m) and with the completed 10,000m in 2022, Jourdan has more than 15,930m (79 holes) of core that the Company intends to use in the future to establish an initial mineral resource estimate.
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 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 producing Quebec Lithium Mine.
For more information:
Rene Bharti, Chief Executive Officer and President
Email: info@jourdaninc.com
Phone: (416) 861-5800
www.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 intentions to arrange for testing of core produced from its phase 3 drilling campaign for lithium content and to update its geological model from the results thereof, management’s expectations that the results from its phase 3 drilling campaign will extend the known deposit at the Company’s Vallée property, and the ability of the Company to establish a preliminary mineral resource estimate at its properties, become a lithium producer, 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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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/26f5ab89-4a0d-4e30-9ca5-57cbba4fb709.
