TORONTO, Feb. 15, 2023 (GLOBE NEWSWIRE) -- JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORF; FRA: 2JR1) (“Jourdan” or the “Company“) is pleased to publish the second 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. This set of assay results is from 9 holes and follows the results of 10 holes published in the Company’s news release dated January 18, 2023. Results from 13 additional drill holes are expected in the coming weeks.

Four of the nine holes reported in the second set of assays encountered high-grade lithium concentrations exceeding 1.0% Li2O, including hole VAL22-7-4 that intersected 1.23% Li2O over 4.15 m from 152.85 to 157.00 m, as shown in Table 1 below.

Table 1 – Highlights from the Second Set of Assay Results

*drill core width only, does not represent true width

The 2022 summer/fall drill program consisted of 32 holes totaling 6,585 m. With these results, the Company has now received assays from 19 of these 32 holes, and awaits assay results from the final 13 holes, expected in the coming weeks.

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 to update its geological model and to help the Company establish an initial mineral resource estimate at the Vallée property.

The results of the 2022 summer drilling campaign have confirmed the presence of a new spodumene-bearing pegmatite swarm on the Vallée property. The Company believes that this previously underexplored eastern extension has not been exposed by the North American Lithium mine to the west of Vallée (see Fig. 1).

“Once more we can demonstrate the easterly extent of our pegmatites with significant thicknesses and grades well above 1% Li2O,” said Dr. Andy Rompel, executive chairman of Jourdan, “and we are keenly anticipating more drillhole assay results from even farther east within our flagship Vallée project to increase the geological continuity there.”

“This latest drilling program has brought us closer to establishing an initial mineral resource estimate at our Vallée property. Vallée sits immediately east of North American Lithium’s lithium mine, which we have been advised is expected to enter into production in April of this year. There is significant mining activity in the Vallée area, and Jourdan continues to remain optimistic about becoming a key lithium player in the region,” said Rene Bharti, Chief Executive Officer of Jourdan.

The drill program was conducted by Forage LaMontagne Fortier from Rouyn-Noranda, Québec, under the supervision of Alex Belobordov 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.
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The Company’s now completed diamond drilling program of 6,585 m was to follow up on the results of a bulk sample collected in 2018 and the fence line drilled in 2011 and 2021 along the western side of the Company’s Vallée property, which borders the North American Lithium mine. Management anticipates that results of the drilling program will substantially extend the known deposit at the Company’s Vallée property eastwards.

Figure 2: The location of the Vallée property and recent Jourdan drill holes relative to Sayona’s North American Lithium mine near Amos, Quebec.
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Table 2 – Detailed Assay Results:

* drill core width only, does not represent true width
** Sections of drill hole VAL22-5-8 extended onto mining claims that the Company previously sold to North American Lithium. For more information about the disposition, please see the Company’s press release dated November 14, 2022, which is available under the Company’s SEDAR profile at www.sedar.com.

Table 3: Drill hole locations (NAD83, Zone 18).

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 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 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.

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.