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- Mineralized corridor appears to be a minimum 600m thick and 1000m long
- Compilation identified historical results up to 4.88m of 2.97% LiO2
Mississauga, Ontario, October 2, 2017: JOURDAN RESOURCES INC. (TSX-V:JOR, Frankfurt and Stuttgart 2JR1) (“Jourdan” or the “Company“) is pleased to announce the results from infill sampling and compilation of drilling from the Vallee Lithium Property, adjacent to the eastern boundary of North American Lithium’s (“NAL”) producing Quebec Lithium Mine. In 2011, Jourdan completed a 4,250 m, 21 drill hole program, the first drill program on the Vallee Lithium property since 1955. In the summer of 2017, the Company relogged and sampled previously untested drill core including holes VAL11-12 and VAL11-19. (See Map 1)
Only 6 holes have completed outside of the significantly mineralized corridor leaving strong potential for additional lithium mineralization on the Vallee Lithium property.
Highlights from infill sampling of the 2011 drilling, completed in the summer of 2017 include 1.30m @ 1.53% Li2O in hole VAL11-19 and 1.65m @ 0.93% Li2O in hole VAL11-19.
The compilation and interpretation, relogging, sampling and surface investigation of the Vallee Lithium property has identified significant lithium mineralization contiguous to a due east of the Quebec Lithium Mine owed by NAL. NAL is currently completing a planned $50 million financing as a private company, at $2.75 per share, $25 million of which has been committed by a Burwill Holdings Limited, who have also committed to acquire 80% of spodumene concentrate from the Quebec Lithium Mine, which is currently producing.
NAL acquired and is re-starting one of the only near-term viable hard rock lithium operations globally. NAL is the 100-per-cent owner of the Québec Lithium Mine in Val-d’Or, Quebec, a mine site located within reach of North America’s largest markets and export terminals. Jourdan Resources nearly surrounds the Quebec Lithium Mine on all sides save for a portion of the mine’s northern boundary.
Compliation of recent resampling and historical drilling has identified a significantly mineralized corridor of spodumene mineralization 600m thick and 1000m long (visible on Map 1 and Section 1). Holes drilled in 1952, 1953 and 1955 confirm this corridor, and there is very limited drilling outside the corridor, with only 6 holes drilled outside this area that have been complied, and the majority of the area of the Vallee Lithium property is untested.
Concentrate tests results returned more then 5% Li2O from 2011 drill core, previously reported by Jourdan.
Previously unsampled drill core returned results including 0.80m @ 0.63% Li2O in hole VAL11-12, 0.25m @ 0.59% Li2O in hole VAL11-14, and 1.30m @ 1.53% Li2O, 2.05m @ 0.67% Li2O as well as 1.65m @0.93% Li2O all in hole VAL11-19.
Map 1 Plan with 2011 Hole Locations and Quebec Lithium Mine Pit Plan and Mineralized Zones
Highlights in the 2011 drilling include: 6.95m @ 0.88% Li2O in holes VAL11-20, 5.00m @ 0.85% Li2O in hole VAL11-11, 5.50m @ 1.19% Li2O in holes VAL11-20, 5.80m @ 1.08% Li2O, 5.42m @ 0.81% Li2O in hole VAL11-17, 4.63m @ 1.03% Li2O in hole VAL11-17, 6.33m @0.86% Li2O, 6.84m @0.64% Li2O.
Table 1: 2011-2017 Significant Drilling/Sampling Results
|Hole||From (m)||To (m)||Length (m)||Grade Li2O%|
*denotes 2017 analysis of previously unsampled core
Map 2 Detail Plan of 2011 Drilling with Hole Traces and Vertical Section Locations
“I am very pleased with the grades encountered east of the Quebec Lithium Mine on Jourdan’s 100% controlled Vallee Lithium property. All results are within 2000m of the open pit plan of the Quebec Lithium Mine, and projecting the zones from the Mine on surface towards the Vallee Lithium property suggest that additional targets exist south of the significant mineralization identified to date on the property” states Michael Dehn, CEO of Jourdan.
Section 1 Vertical Cross Section #3 and Plan showing 2011 drilling with assay results, geology, and significant intersections
Highlight from the 1955 drilling program include 4.88m @ 2.97% Li2O in hole VS-12, 4.06m @ 2.00% Li2O in hole VS-12, 3.97m @ 2.80% Li2O in hole VS-10, 2.59m @ 1.61% Li2O in hole VS-6 and 1.68m @ 1.44% LiO2 in hole VS-7.
Although there were few assay results from the 1955 drill program, the results were very significant, with some wide zones and high grades of spodumene. Holes without assays also provided important geological descriptions of mineralization, as well as areas that the drill was unable to reach bedrock. Map 3 provides the location of the holes drilled in 1955 as well as the location of the 1952, 1953 and 2011 drill hole location.
Table 2: 1955 Drilling Results
|From (feet)||To (feet)||Length (feet)||Grade Li2O% or visual spodumene description|
|VS-2 (1955)||307.00||315.00||8.00||some spodumene|
|VS-3 (1955)||195.00||202.00||7.00||minor spodumene|
|VS-4 (1955)||0.00||170.00||170.00||Overburden – Abandoned|
|VS-5 (1955)||383.50||384.50||1.00||some spodumene|
|552.00||555.00||3.00||fair spodumene (8%)|
|VS-8 (1955)||0.00||134.00||134.00||Overburden – Abandoned|
|VS-11 (1955)||0.00||125.00||125.00||Overburden – Abandoned|
|VS-13 (1955)||0.00||84.00||84.00||Overburden – Abandoned|
Highlights from the 1952-53 drilling program include 11.29m @ 15-20% Spodumene in hole S-15, 3.17m @ 50% Spodumene in hole SB-33, 2.99m @ 15% Spodumene as well as Lepidolite in hole SB-50, and 2.81m @ 20% Spodumene in hole SB-52.
There where no assays provided with the logs for the 1952 and 1953 drill holes, but the descriptions and visual identification of spodumene, often with a visual percent of spodumene in the core over a length gives strong indication of lithium mineralization. Additionally, the identification of lepidolite in one hole demonstrates that lithium is present not only in spodumene but in lepidolite as well.
Table 3: 1952-1953 Drilling Results
|From (feet)||To (feet)||Length (feet)||Visual Spodumene (%) or comment|
|155.50||166.50||11.00||1″ to 2″ long crystals|
|173.20||176.80||3.60||1″ to 2″ long crystals|
|SB-21 (1953)||220.30||235.50||15.20||Coarse Spodumene|
|SB-22 (1953)||66.70||69.90||3.20||Spodumene Needles|
|150.40||163.00||12.60||1/8 to 1/4″ wide, 1 to 2.5″ long crystals|
|166.90||169.50||2.60||1/8 to 1/4″ wide, 1 to 2.5″ long crystals|
|SB-32 (1953)||76.00||78.20||2.20||long acicular elongate crystals|
|106.70||126.20||19.50||traces of spodumene|
|SB-34 (1953)||116.00||152.00||36.00||very poor to very good|
|SB-35 (1953)||171.00||217.00||46.00||abundant 171-215, poor 215-217|
|229.30||237.80||8.50||mostly coarse grained|
|242.80||253.00||10.20||fine grained, uniform, and abundant|
|265.30||267.60||2.30||fine grained, uniform, and abundant|
|268.40||273.00||4.60||fine grained, uniform, and fair|
|SB-36 (1953)||86.90||114.30||27.40||uniform and abundant – visual estimate 1.2% Li2O|
|SB-37 (1953)||210.30||212.00||1.70||poor to rich|
|SB-38 (1953)||123.70||125.20||1.50||good fine light green|
|SB-39 (1953)||0.00||54.00||54.00||Overburden – Abandoned|
|SB-40 (1953)||286.60||290.30||3.70||unusual medium grained|
|296.60||307.10||10.50||medium to coarse grained|
|SB-41 (1953)||205.50||206.30||0.80||traces of spodumene|
|276.60||285.50||8.90||traces for a few inches on both walls|
|SB-42 (1953)||355.30||357.50||2.20||fair amount|
|365.30||372.50||7.20||coarse pale crystals|
|381.60||386.00||4.40||fair amount fine grained|
|SB-43 (1953)||0.00||55.00||55.00||Overburden – Abandoned|
|SB-44 (1953)||172.50||174.20||1.70||fair amount|
|215.70||227.60||11.90||coarse, fair amount|
|SB-45 (1953)||52.00||63.60||11.60||coarse and fine crystals|
|SB-46 (1953)||No Spodumene Noted|
|302.20||312.00||9.80||15% spodumene as well as some lepidolite|
Map 3 Plan of all drill holes to date on the Vallee Lithium Property (as well as a few on the Quebec Lithium Mine Property)
All new samples have been sent to SGS Canada Inc. facilities in Lakefield, Ontario (“SGS”) for analysis by Inductively Coupled Plasma methods. These laboratories are recognized by the industry and accredited ISO/MEC 17025 by the Standards Council of Canada. In addition to the quality assurance and quality control (“QA/QC”) employed by SGS, Jourdan Resources develops a rigorous QA/QC protocol for its operators, including the insertion of analytical standard samples, duplicates, and coarse silica blanks on a systematic basis. To determine the QC warning, ±2x Std. Dev., and QC failure ±3x Std. Dev. were used. QC results did not highlight any significant analytical bias.
Yves Caron, M.Sc., P.Geo., and Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this press release.
About Jourdan Resources
Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol JOR on the TSX Venture and 2JR1 on the Frankfurt and Stuttgart Stock Exchanges. The Company is focused on the acquisition, exploration, production, and development of mining properties in lithium.
Please visit the Company’s website at www.jourdanresources.com
For further information please contact:
President and CEO
Tel: (647) 477-2382
Fax: (647) 477-2389
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including any information as to our strategy, projects, plans or future financial or operating performance and other statements that express management’s expectations or estimates of future performance, may constitute forward-looking information (collectively “forward-looking information”) within the meaning of Canadian securities laws. Forward-looking information may be identified by terminology such as “may”, “will”, “could”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “projects”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts and include, but are not limited to, resource estimates, capital and operating expenditures, economic conditions, availability of sufficient financing, receipt of approvals, satisfaction of closing conditions and any and all other timing, development, operational, financial, economic, legal, regulatory and/or political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to, access to capital markets and other sources of financing and associated cost of funds, final receipt of any required approvals, sufficient working capital for development and operations, access to adequate services and supplies, availability of markets for products, commodity prices, foreign currency exchange rates, interest rates, availability of a qualified work force, availability of manufacturing equipment, no material changes to the tax and regulatory regime, the ultimate ability to execute business plans on economically favourable terms and those material factors and assumptions disclosed in other public filings of Jourdan Resources.
While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to, risks and uncertainties disclosed in other public Jourdan Resources filings, changes in general economic, market and business conditions, competition for, among other things, capital and skilled personnel, and other unforeseen events or circumstances, that may cause the actual financial results, performance or achievements of the Company to be materially different from estimated future results, performance or achievements expressed or implied by the forward-looking statements. Copies of the Company’s public filings under applicable Canadian securities laws are available at www.sedar.com. The Company further cautions that information contained on, or accessible through, this website is current only as of the date of filing such information and may be superseded by subsequent events or filings. Other than as required by law, Jourdan Resources does not intend, and undertakes no obligation, to update any forward looking information to reflect, among other things, new information or future events.
Although the Company believes many of its properties have promising potential, its properties are in the early stages of exploration. None have yet been shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on any property, or that, if identified, any mineralization may be economically extracted.
Neither the 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. Statements in this release that are not historic facts are “forward-looking statements” and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these “forward-looking statement.
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