Jourdan Resources Announces Commencement of Phase 3 of 2022 Drilling Program on Flagship Vallee Lithium Project

2022-08-22 05:08:26

TORONTO, Aug. 22, 2022 (GLOBE NEWSWIRE) — JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORF; FRA:2JR1) (“Jourdan” or the “Company“) is pleased to announce that drilling of the first drillhole of its phase 3 summer campaign has commenced, starting with hole number VAL22-6-1, completing the northern and eastern extension of the drilled fence line previously started during Q3 2021 and continued in Q1 and Q2 2022. We expect the new drill program will also extend the known mineral deposit at our Vallée property eastwards (Fig. 1).

The 2,200m diamond drilling program is intended to follow up on the results of the fence line drilled in 2021 and 2022 along the western side of the Company’s Vallée property, which borders with the North American Lithium mine. This new drilling campaign aims at drilling fence lines further east across the lithium-bearing pegmatite swarm, which has been mined in the immediate vicinity to the west.

11 holes of approximately 200m depth each are scheduled to be drilled aiming at the pegmatite swarm identified by the trenching of the bulk sample collected on the Vallée property in 2018 and initially intersected by the 2011 fence line drilling campaign along the western boundary of Vallée. The assay results from the bulk sample revealed high Li2O grades (see press release of the Company 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 drilling along the strike and depth extent on its Vallée property.

Jourdan believes it will significantly increase the known deposit at the Vallée property by adding more drill holes since the start of the exploration work in 2011. The 2011 drilling comprised 21 drill holes (4,256m), the 2021 campaign consisted of 8 drill holes (1,680m), and in the 2022 winter campaign we drilled another 18 holes (3,703m). With the planned 2,200m round of drilling in summer of 2022 Jourdan is on the track to having more than 11,800m (58 drill holes) of core that we intend to use for a future initial mineral resource estimate.

Jourdan’s Executive Chairman, Dr. Andreas Rompel, stated, “We are thrilled to be in position to continue where we left off with the highly successful drilling campaigns of the last years, and we are looking forward to what we hope will be an expansion of the known deposit even further to the east by the planned 2,200m of diamond drilling. We are significantly increasing our database of information on the known deposit and the knowledge of its lithium contents by every hole we drill. Very soon we expect to be in a position to establish an initial mineral resource estimate.”

The drill program will be conducted by Forage Lamontagne Fortier from Rouyn-Noranda, Quebec, under the supervision of Alexandr Beloborodov, Géologue Inc. (ABG Exploration) of Laval, Quebec.

All samples from the new drill program will be 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 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 also available under the Company’s SEDAR profile at www.sedar.com).

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
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 summer 2022 drill program, including its scope and the Company’s expectation that it will extend the known deposit at its Vallée property, and the ability of the Company to establish an initial mineral resource estimate at its 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.

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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