Jourdan Provides Drilling Program Update
Rhea-AI Summary
Jourdan Resources Inc. has announced successful results from its winter 2022 drilling campaign at the Vallée property, where all 18 drill holes intersected a new spodumene-bearing pegmatite swarm. The company expanded its campaign by two additional drill holes, totaling 3,600 meters. The drilling success aims to lay the groundwork for an initial resource estimate, moving Jourdan closer to its goal of becoming Quebec’s next lithium producer. The company has significantly increased its drilling database since 2011, now totaling over 9,400 meters.
Positive
- All 18 drill holes intersected new spodumene-bearing pegmatite, indicating strong mineral potential.
- Expansion of drilling program signifies increased resource assessment capabilities.
- Plans to establish an initial resource estimate, positioning the company for future growth.
Negative
- No financial metrics presented to gauge potential revenue impacts.
- Forward-looking statements include uncertainties about future mineral prices and market demand.
News Market Reaction – JORFF
On the day this news was published, JORFF declined 14.84%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
All sixteen holes of its 2022 winter drilling campaign have intersected the new spodumene-bearing pegmatite swarm. Two extra holes added on the 2022 program for a total of 18 drillholes (3,600m).
TORONTO, May 17, 2022 (GLOBE NEWSWIRE) -- JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORFF, FRA:2JR1) (“Jourdan” or the “Company“) is pleased to announce that all of its sixteen (16) 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).
Following the press release dated March 24, 2022, Jourdan has again expanded its 2022 winter drilling campaign by adding 2 new drillholes (VAL22-5-4 and VAL22-5-5) to the already permitted line of eight drillholes of 200m each, extending the lines 3, 4 and 5 to the north, south, and east (see Fig. 1).
Following its drilling successes Jourdan has added a second drill and two extra holes to expand the spodumene-bearing pegmatite deposit size to the east to help the Company establish an initial resource estimate.
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9c79855a-3b88-42ff-a3ac-4ab51711f88b
| Drillhole | Description* |
| VAL22-3-7 | 2 interceptions of 1 to 3m spodumene bearing pegmatite dyke. |
| VAL22-4-7 | 2 interceptions of 1 to 2m spodumene bearing pegmatite dyke. |
* Drill core width only, does not represent true width.
Rene Bharti, CEO of Jourdan, stated, “We are very excited that the drill program continues to find new spodumene-bearing intersections in new zones. The success of the drill program, coupled with the work underway to build our initial resource estimate in the coming months, is anticipated to bring us one step closer to achieving our goal of becoming Quebec’s next lithium producer.”
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 3,600m round of drilling in 2022, Jourdan is on track to having more than 9,400m (47 holes) of core that the Company intends to use in the future to establish an initial mineral resource estimate.
Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/03c83031-7c71-4068-bef5-794709633065
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 an initialmineral resource estimate at its properties, begin production, 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.
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