Mineralization Remains Open along Strike, Down-Dip and to the South
Toronto (Canada) – JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORF; FRA: 2JR1) (“Jourdan” or the “Company“) is pleased to publish the final set of assay results of its summer/fall 2022 drilling campaign on its flagship Vallée Lithium Project, located 35 km north of Val-d’Or in Quebec, Canada. Results from the final thirteen holes have been received following the results of 19 holes disclosed in the Company’s previous news releases dated January 28, 2023 and February 15, 2023.
These final assay results confirm that the lithium-bearing pegmatite system at Vallée remains open for expansion to the east along strike, down-dip and to the south of the 2021 and 2022 drill holes.
The Company and its partner, North American Lithium Inc. (“NAL”, a majority owned subsidiary of Sayona Mining Ltd. “Sayona”), recently announced the intention to commence an aggressive 24,000 m drilling program to commence in May on the Vallée project with the objective of expanding and defining sufficient mineral resources to supply increased tonnages to the NAL concentrator located adjacent to the property (see the Company’s news release dated March 7, 2023 at www.consolidatedlithium.com or on the Company’s profile at SEDAR.com). NAL’s concentrator commenced processing operations on February 27, 2023, and the first spodumene concentrate produced from the plant was announced in March 2023 (for more information, please refer to Sayona’s press releases dated February, 27 2023 and March 16, 2023).
“I am excited by the results of the 2022 drill program at Vallée,” said Jourdan’s President and CEO, Rene Bharti. “Not only did our program define the presence of significant lithium-bearing pegmatites along trend from Sayona’s NAL mine, but also the strong possibility of further growing the mineralization in the immediate area through our previously announced and upcoming drilling program. Our partnership with Sayona and the location of Vallée’s mineralization adjacent to their mining operations certainly puts Jourdan’s shareholders in an envious position in the race to become Canada’s next lithium producer.”
Five of the holes reported in this last set of assay results encountered lithium concentrations exceeding 0.50% Li2O. Highlights from this batch of samples was from the bottom half of hole VAL22-8-5, which encountered 0.82% Li2O over 8 m from 125.0 to 133.0 m. Previously, the Company announced in its February 15, 2023 news release that an intersection from the top half of hole VAL-22-8-5 intersected 13.6 m of 0.50% Li2O from 89.0 m to 102.6 m (see Jourdan news release dated February 15, 2023).
Table 1 – Assay Results – Final Batch of Samples – 2022 Fall Drilling Program
|Drill hole||From (m)||To (m)||Length||Li2O|
|VAL22-7-6||no significant results|
|VAL22-8-2||no significant results|
|VAL22-8-6||no significant results|
|VAL22-8-7||no significant results|
|VAL22-9-2||no significant results|
|VAL22-9-3||no significant results|
|VAL22-9-4||no significant results|
|VAL22-10-2||no significant results|
|VAL22-10-4||no significant results|
*drill core width only, does not represent true width
These results confirm the presence of a new northern high-grade lithium-bearing pegmatite that has been traced by drilling over a strike length of over 300 m and remains open at depth and to the east along strike. This new lithium-bearing pegmatite intersected in VAL22-8-5 and main pegmatite swarm to the immediate south had both not been previously identified before the Company’s 2021 and 2022 drill programs (see Figure 1).
The 2022 summer/fall drilling program was conducted to the east of the Company’s previous drill programs and targeted the eastern and southeastern extension of the known spodumene-bearing pegmatite swarm. The Company intends to use the results of the drilling and assaying and the upcoming 2023 program to update its geological model and to help the Company establish an initial mineral resource estimate at the Vallée property.
The drill program was conducted by Forage LaMontagne Fortier from Rouyn-Noranda, Québec, under the supervision of Alex Beloborodov Géologue Inc. (ABG Exploration) of Laval, Quebec.
All samples from the new drill program have been 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 Vallée property is immediately east of the North American Lithium mine. This figure depicts the 2011, 2021 and 2022 completed drillholes with a total of 79 drillholes since 2011.
Figure 2: The location of the Vallée property and recent Jourdan drill holes relative to Sayona’s North American Lithium mine near Amos, Quebec.
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 Quebec Lithium Mine.
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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 in respect of the anticipated additional assay results and management’s expectations that they will extend the known deposit, North American Lithium’s ability to commence production at its adjacent Quebec Lithium Mine, and the ability of the Company to update its geological model and establish an initial mineral resource estimate at its properties, become a key lithium player in the greater Vallée area, 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.
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