Jourdan Announces Drilling Program on Its Vallée-Lithium Project

TORONTO, Aug. 19, 2021 (GLOBE NEWSWIRE) — JOURDAN RESOURCES INC. (“Jourdan” or the “Company“) is pleased to announce that it has received permission from the Ministère des Forêts, de la Faune et des Parcs (Quebec, Permit #3028358), Quebec’s mining authority, to commence a 2000m diamond drilling program on its Vallée property located in Val d’Or, Quebec. Drilling activities are permitted to commence on September 1, 2021. The diamond drilling program is intended to follow up on the results of a bulk sample collected in 2018 and the fence line drilled from 2011 along the western side of the Company’s Vallee property, which borders North American Lithium’s mine. This new campaign aims at completing two more fence lines across the lithium-bearing pegmatite swarm which has been mined in the immediate vicinity to the west. 10 holes of approximately 200m depth are scheduled to be drilled aiming at the pegmatites identified by the results of a bulk sample collected on the Vallée property in 2018. The bulk sample results revealed high Li2O intersections which have encouraged the Company to continue exploration by drilling on the property.

Highlights of diamond drilling campaign

  • The permit was applied for on July 23, 2021 and received in early August 2021. Drilling is intended to start on September 1, 2021.
  • The Company believes that it can be inferred that the pegmatite swarm mined at the North American Lithium mine extends into the western part of the Vallée property.
  • The Company anticipates that the drilling campaign will add 2000m of drill core on the Vallée project with 10 drill holes of 200m each to find new pegmatite occurrences.

Rene Bharti, CEO of Jourdan, stated, “We believe this drill program will allow the Company to move forward with its goal to become Quebec’s next near-term lithium producer.”

Jourdan’s Chairman, Dr. Andreas Rompel, stated, “We are excited to commence a new phase of exploration on our Vallée property. After having received the vastly encouraging results from the bulk sample, this is only the natural progression to explore and develop the extent of lithium mineralisation along the pegmatite swarm.”

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
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
Phone: (416) 861-5800

Cautionary statements

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 ability to complete a 2000m drilling campaign at its Vallée property and to execute its business plan, including its ambition to become Quebec’s next near-term lithium producer. 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; 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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