TORONTO, July 07, 2022 (GLOBE NEWSWIRE) — JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORF, FRA:2JR1) (“Jourdan” or the “Company“) is pleased to publish the next partial assay results of its winter 2022 drilling campaign on its flagship Vallée project, which is located ~35km north of Val-d’Or in Quebec, Canada. The results are from three holes and show multiple lithium grading zones.
- The northern pegmatite, which had been intersected by historical 1958 drillholes, has now been drill confirmed to be present over a strike length of more than 200 metres
- We have continually been expanding the known size of the northern pegmatite, the existence of which was confirmed by our fall 2021 drilling campaign, since our drill hole VAL21-3-4 was completed in October 2021, and in which a 21m spodumene-bearing pegmatite was identified
- This new information heightens our expectations for the northern pegmatite
|Drill hole||From (m)||To (m)||Length||Li2O (%)|
*drill core width only, does not represent true width
As mentioned in a press release dated May 24, 2022, the Company has completed its previously announced diamond drilling program, with 3,629m drilled by May 2022. The Company has now received more assay results from the program and awaits further assays in which every hole showed multiple intersections of spodumene-bearing pegmatite.
All 18 holes of the Company’s 2022 winter drilling campaign have intersected the new spodumene-bearing pegmatite swarm on its Vallée property at a previously underexplored eastern extension, which had not been exposed by the North American Lithium mine to the west of Vallée (see Fig. 1).
Since restarting drilling in September 2021, Jourdan has drilled 26 drillholes, all of which intercepted multiple spodumene-bearing pegmatite dykes.
“We are extremely pleased with the latest drill results. Not only did our drillholes intersect multiple pegmatites, but they also achieved significant thicknesses in grades that we anticipate will positively impact our ongoing initial resource estimate exercise”, said Dr. Andy Rompel, executive chairman of Jourdan. He continued, “So far, these last drilling campaigns have been particularly successful in building our confidence in the deposit size and grade we have at Vallée.”
The completed drill program was conducted by Forage Hébert located in Amos, Quebec, under the supervision of Alexandr Beloborodov, Géologue Inc. (ABG Exploration) of Amos, Quebec.
Jourdan’s Chief Executive Officer, Rene Bharti, stated, “Jourdan is pleased to again report respectable assay results from core recently collected during its 2022 drilling campaign. The Company is keenly focused on establishing an initial mineral resource estimate at Vallée in the near term and commencing a drill program at its other two properties, Baillargé and Preissac-La Corne.”
Figure 1: The Vallée property is approximately 35km north of Val-d’Or and immediately east of the North American Lithium mine. This figure depicts the 2011, 2021 and 2022 completed drillholes. All 26 drillholes since 2021 have intersected the Li-bearing, spodumene-rich pegmatite swarm.
The Company’s now completed diamond drilling program of 3,629m was intended to follow up on the results of a 40-tonne bulk sample collected in 2018, the fence line drilled in 2011, and follow-up drilling in 2021 along the western side of the Company’s Vallée property, which borders the North American Lithium mine. As anticipated, the drilling program substantially extended the known deposit at the Company’s Vallée property eastwards. Since February 2022, 18 holes of approximately 200m depth have been drilled, each aimed 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 has significantly enlarged its database by adding more drillholes since the start of the exploration work in 2011. The 2011 drilling comprised 21 drillholes (4,256m), the 2021 campaign consisted of eight drillholes (1,680m) and with the completed 3,629m in 2022, Jourdan has more than 9,490m (47 holes) of core that the Company intends to use in the future to establish an initial mineral resource estimate.
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.
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 the anticipated additional assay results, management’s expectations for the northern pegmatite, and the ability of the Company to establish an initial mineral resource estimate at its properties, commence drilling at its Baillarge and La Corne properties, 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.
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