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Jourdan Resources Inc. (TSXV: JOR; OTCQB: JORFF) (" Jourdan " or the " Company ") is pleased to announce that all of its first four drill holes of its winter 2022 drilling campaign have intersected the newly identified spodumene-bearing pegmatite swarm on its Vallée property at a previously underexplored eastern position, which the Company believes has not been exposed by the North American Lithium mine to the west of Vallée (see Fig. 1).
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2c97402b-b4a9-4ce1-bb4e-03b6afc5a563
| Drill hole | Description |
| VAL22-2-6 | 7 interceptions of 1 to 3m spodumene dyke. |
| VAL22-2-7 | 1 interception of 1m spodumene dyke. |
| VAL22-3-6 | 6 interceptions of 1 to 2m spodumene dyke. |
| VAL22-4-6 | 5 interceptions of 1 to 2m spodumene dyke. |
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 and 2021 along the western side of the Company's Vallée property, which borders the North American Lithium mine. This drilling campaign is roughly laid out on a 100m x 100m grid and aims at completing the northern extension of the drilled fence line previously started during Q3 2021. The drill program is anticipated to substantially extend the known deposit at the Company's Vallée property eastwards. 10 holes of approximately 200m depth each are scheduled to be drilled aiming at the pegmatite swarm identified by the trenching of the bulk sample collected on the Vallée property in 2018. The assay results from the bulk sample revealed high Li 2 O grades (for more information, please see the Company's press release dated April 29, 2021, which is available under the Company's SEDAR profile at www.sedar.com), which have encouraged the Company to continue exploration and exploratory drilling along the strike and depth extents of its Vallée property.
Jourdan is significantly enlarging its database by adding more drill holes since the start of the exploration work in 2011. The 2011 drilling comprised 21 drill holes (4256m), the 2021 campaign consisted of eight drill holes (1680m) and with the planned 2000m round of drilling in 2022, Jourdan is on track to having more than 7900m (39 drill holes) of core that the Company intends to use in the future to establish a preliminary mineral resource estimate.
Rene Bharti, CEO of Jourdan, stated, "With the net proceeds received from the flow-through financing we completed before the end of last year, we are excited at the possibilities of our latest drill program. Jourdan's goal for this year continues to be to define a preliminary mineral resource estimate, with our eventual goal being to become Quebec's next lithium producer."
Jourdan's Executive Chairman, Dr. Andreas Rompel, stated, "We now have demonstrated that we have a new Li-bearing and spodumene-rich pegmatite in several intersections which we did not know before. This particular pegmatite is not exposed in the open pit of the neighbouring North American Lithium mine. We believe this will add significantly to the known deposit size."
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.
Jourdan Resources would like to invite shareholders to visit their new website at:
www.jourdaninc.com
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 Company's winter 2022 drill program, including its scope and the Company's expectation that it will substantially extend the known deposit at its Vallée property, and the Company's ability to establish a preliminary mineral resource estimate at its properties and to execute its business plan, including its ambition of becoming Quebec'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.
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