Jourdan Announces Drilling Program has Successfully Intersected New Eastern Extension of Li Pegmatite
TORONTO, Sept. 23, 2021 - Jourdan Resources Inc. ("Jourdan" or the "Company") is pleased to announce that all of its first four drill holes of its fall drilling campaign have intersected the spodumene-bearing pegmatite swarm on its Vall?e property at a previously underexplored eastern position (see Fig. 1).
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7d0ec079-8d7d-4fc5-bb7b-57aa0d88d6c8
| Drill hole | From (m) | To (m) | Interval (m) | Mineralization | Description |
| VAL21-2-1 | 145 | 146.2 | 1.2 | Spodumene | 5% spodumene with local zones with up to 10% Spodumene |
| VAL21-2-2 | 52 | 53 | 1 | Spodumene | 5% spodumene with local zones with up to 10% Spodumene |
| VAL21-2-2 | 87 | 89.4 | 2.4 | Spodumene | 5% spodumene with local zones with up to 10% Spodumene |
| VAL21-2-2 | 94.2 | 95.5 | 1.3 | Spodumene | 5% spodumene with local zones with up to 10% Spodumene |
| VAL21-2-3 | 18.1 | 18.6 | 0.5 | Spodumene | 5% spodumene with local zones with up to 10% Spodumene |
| VAL21-2-3 | 23 | 24.35 | 1.35 | Spodumene | Around 10% Spodumene |
| VAL21-2-3 | 207.2 | 209 | 1.8 | Spodumene | Around 10% Spodumene |
| VAL21-2-4 | 16.8 | 17.1 | 0.3 | Spodumene | 5% spodumene with local zones with up to 10% Spodumene |
| VAL21-2-4 | 20.5 | 21.5 | 1 | Spodumene | 5% spodumene with local zones with up to 10% Spodumene |
| VAL21-2-4 | 36.2 | 36.7 | 0.5 | Spodumene | 5% spodumene with local zones with up to 10% Spodumene |
| VAL21-2-4 | 40.7 | 41.7 | 1 | Spodumene | 5% spodumene with local zones with up to 10% Spodumene |
| VAL21-2-4 | 45.7 | 46 | 0.3 | Spodumene | 5% spodumene with local zones with up to 10% Spodumene |
| VAL21-2-4 | 167.4 | 171.25 | 3.85 | Spodumene | 10% spodumene with local zones with up to 15% Spodumene |
The Company's 2000m 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 along the western side of the Company's Vall?e property, which borders the North American Lithium mine. This drilling campaign aims at completing two more fence lines across the expected lithium-bearing pegmatite swarm, which has been mined in the immediate vicinity to the west. 10 holes of approximately 200m depth each are scheduled to be drilled aiming at the pegmatite swarms identified by the trenching of the bulk sample collected on the Vall?e 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 have encouraged the Company to continue exploration and exploratory drilling along the strike and depth extents of its Vall?e property.
Rene Bharti, CEO of Jourdan, stated, "Our drill program continues to provide encouraging results. Having all four holes hit the anticipated Li-bearing, spodumene-rich pegmatite swarm in a new direction is a clear indication that there is potentially more mineralization on our properties than we had initially expected. Having visited the site recently, it was apparent from the level of activity in the area that the global demand for lithium has not slowed. The Company intends to use the results from this drill program to establish a resource in the near term. Furthermore, with such a world class exploration team assembled and led by Dr. Rompel, I have no doubt that Jourdan will realize its goal of becoming Canada's next lithium producer."
Jourdan's Executive Chairman, Dr. Andreas Rompel, stated, "We are excited about the first intersections and proving up the eastern extension of the expected Li-bearing pegmatite swarm on our Vall?e property. We intend to continue to build on these intercepts with the intention of delineating the entire extent of the expected lithium deposits existing east of the North American Lithium mine."
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/39dcbe81-a0f2-4d77-8630-5272bc9282b8
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:
www.jourdaninc.com
Rene Bharti, Chief Executive Officer and President
Email: info@jourdaninc.com
Phone: (416) 861-5800
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 global demand for lithium and the Company's ability to complete its 2000m drilling campaign, to complete any future exploratory and drilling campaigns, to establish a resource at its properties, and to execute its business plan, including its ambition to become Canada's next 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 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.