Jourdan Announces Drilling Program Continues to Intersect the New Eastern Extension of Li Pegmatites
Rhea-AI Summary
Jourdan Resources Inc. (TSXV: JOR; OTCQB: JORFF) announced successful results from its 2022 winter drilling campaign at the Vallée property, where all twelve drill holes intersected a new spodumene-bearing pegmatite swarm. This follows an expansion of their drilling program, adding eight more holes. The campaign aims to build on past discoveries and establish a preliminary mineral resource estimate. Executive Chairman Dr. Andreas Rompel expressed optimism about the potential to enlarge the known deposit size. Assay results from previous bulk samples indicated high lithium oxide grades.
Positive
- All 12 drill holes intersected spodumene-bearing pegmatite, confirming the eastern extension of the deposit.
- Expansion of drilling campaign with an additional 1,600 meters planned, enhancing exploration efforts.
- Strong historical assay results indicating high lithium oxide grades, increasing exploration confidence.
Negative
- None.
News Market Reaction – JORFF
On the day this news was published, JORFF gained 24.59%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO, May 09, 2022 (GLOBE NEWSWIRE) -- JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORFF) (“Jourdan” or the “Company“) is pleased to announce that all of its twelve (12) drill holes of its 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). 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.
As set out in a press release dated March 24, 2022, Jourdan has expanded its 2022 winter 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).
A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0af45eb4-f5a5-4179-b9f2-6613027d65fd
| Drillhole | Description* |
| VAL22-4-2 | 11 interceptions of 1 to 6m spodumene bearing pegmatite dyke. |
| VAL22-4-1 | 4 interceptions of 1 to 6m spodumene bearing pegmatite dyke. |
| VAL22-5-3 | 5 interceptions of 1 to 5m spodumene bearing pegmatite dyke. |
| VAL22-5-2 | 5 interceptions of 1 to 4m spodumene bearing pegmatite dyke. |
* drill core width only, does not represent true width.
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 drilling program is anticipated to substantially extend the known deposit at the Company’s Vallée property eastwards. Since February 2022, 12 holes of approximately 200m depth have been drilled, with four holes remaining, 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’s Executive Chairman, Dr. Andreas Rompel, stated, “We are very pleased that these new intersections confirm the eastern extension of the pegmatite swarm. It encourages us to continue our drilling program eastwards and thereby hopefully enlarge the known deposit size. We are keenly looking forward to receiving our first preliminary mineral resource estimate, for which we engaged Red Pennant Communications Corp. last month.”
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 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.
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.
FAQ
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