Jordan Resources Announces Agreements to Acquire the Rome Lithium and Baillargé North Property
NEWS RELEASE
JORDAN RESOURCES ANNOUNCES AGREEMENTS TO ACQUIRE THE
ROME LITHIUM AND BAILLARGÉ NORTH PROPERTY
• Jourdan now surrounds the Quebec Lithium Mine on three sides
with Rome Lithium Property Acquisition
• A new discovery of High Grade Molybdenum (up to 35.8% Mo) was
identified on the Baillarge North Lithium – Molybdenum Property
Mississauga (Canada), August 14, 2017: JOURDAN RESOURCES INC. (TSX -V: JOR) is
pleased to announce it has entered into a non arm’s length assignment agreement with
Fairmont Resources Inc. entitling Jourdan to acquire a 100% interest in the Rome Lithium
property (the “ Property”), subject to a 2% production royalty, of which half (1%) can be
bought back for $1,000,000 at any time. In consideration of the acquisition of the interest
in the Property, Jourdan will: (i) make a $50,000 cash payment, $25,00 0 of which has
already paid pursuant to the ROFR agreement announced June 29, 2017, (ii) issue
1,500,000 common shares of Jourdan, (iii) grant an additional 2% net smelter retur n
("NSR") on the Property, of which half (1%) may be bought back for $1,000,000 at any
time, and (iv) the completion of exploration expenditures on the Property totaling $150,000
on or before June 10, 2019 (the “Option”).
RESOURCES
RESSOURCES
Map 1 – Rome Lithium Property and Jourdan Resources Properties in relation to Quebec
Lithium Mine owned by NA Lithium. ( Link to Map 1 https://goo.gl/7ZMkRm )
The property is located approximately 60 km north of Val d'Or Quebec.
The property is conti guous to the north and south of NA Lithium’s Quebec Lithium Mine
with a published measured and indicated resources (at a 0.60% Li2O cutoff) of 41,556,000
tonnes at 1.09% Li2O, and an inferred resource of (at a 0.60% Li20 cutoff) of 17,766,000
million tonnes at 1.10% Li2O (RB Energy Press Release of October 11, 2012).
Jourdan is also please to announces it has entered into an agreement to acquire a 100%
interest in the Baillarge North Lithium - Molybdenum Property (“Baillarge North”) , subject
to 1% net smel ter return (" NSR") on the Baillarge North Property, in consideration for a
cash payment of $50,000 and the issuance of 5,000,000 common shares.
Map 2 – Baillarge North Lithium - Molybdenum Property (“Baillarge North”) and Jourdan
Resources Properties in relation to Quebec Lithium Mine owned by NA Lithium. ( Link to
Map 2 https://goo.gl/rTVo2E )
The 935 hectare Baillarge North Property is north of Jourdan’s original Baillarge Lithium -
Molybdenum Property (“Baillarge”) which was acquired in April of 2011. In 2016, 15 grab
samples were collected on the Baillarge North Property with molybdenum assays ranging
from 1.08 ppm Mo up to 35.8% Mo. This is a new discovery, and is part of a 100m wide
quartz vein system that hosts the molybdenum, with individual quartz veins ranging in
width from 5cm to more than 1m. The molybdenum identified in the vein ranges from 1mm
in size to more than 20 cm massive molybdenum crystal clusters and sheets.
Photo 1. Molybdenum in quartz from Baillarge North Property showing some massive
molybdenum (silver -coloured metallic mineral in the photo) ( Link to Photo 1
https://goo.gl/WYuRZZ )
Table 1. Grab Sample molybdenum assays and calculated results from Bai llarge North
Property.
Sample
Number
Mo (ppm unless
otherwise stated)
MoO3 (ppm unless
otherwise stated) calculated
6554301 2.08 3.12
6554302 1.12 1.68
6554303 2.12 3.18
6554304 1.75 2.63
6554305 1.15 1.73
6554306 1.51 2.27
6554307 1.08 1.62
6554308 2.00% 3.00%
6554309 6860 10.29%
6554310 35.80% 53.70%
6554311 8.23% 12.35%
6554312 5260 7890
6554313 12.75% 19.13%
6554314 9670 14.51%
6554315 800 1200
Table 2. Grab Sample lithium and related pegmatite results, as well as silver and bismuth
assays and calculated lithium oxide results from Baillarge North Property.
Sample
Number
Ag
(ppm)
Be
(ppm) Bi (ppm) Cs (ppm) Li (ppm)
LiO2 %
(calculated) RB(ppm)
6554301 bdl 5 0.26 50.1 62.3 0.013 1570
6554302 0.13 2.33 1.08 13.75 244 0.05 123
6554303 0.02 6.94 0.22 27.3 377 0.08 1070
6554304 0.34 4.11 59.3 26.8 264 0.06 750
6554305 1.71 237 203 75.6 170 0.04 1250
6554306 0.02 >1000 1.14 381 710 0.15 690
6554307 0.05 22.8 0.83 42.2 369 0.08 860
6554308 3.01 1.63 175.5 2.27 80.7 0.02 62.3
6554309 4.16 10.6 112.5 5.83 74.7 0.02 121.5
6554310 24.8 1.88 469 21.7 60 0.01 500
6554311 25.7 0.29 1745 0.78 18.4 0.00 19.6
6554312 0.53 1.68 9.58 2.94 37.6 0.01 60.3
6554313 6.02 1.48 173 21.4 90 0.02 470
6554314 19.75 0.66 1295 8.85 52.7 0.01 306
6554315 0.17 2.13 4.45 5.77 40.4 0.01 183
bdl - below detection limit
Recent pricing of Molybdenum Oxide, quoted on Infomine.com, was US$7.26 per pound
(CAD$9.24 per pound, or US$16,000 per tonne)
Photo 2. 30m by 60 metre outcrop of pegmatite at the Baillarge North Property. ( Link to
Photo 2 https://goo.gl/vwYncB )
Photo 3. Massive Beryl (light green mineral) in pegmatite from Baillarge North Property. (
Link to Photo 3 https://goo.gl/BpuoM7 )
Jourdan’s Original Baillarge Property is located along trend of the past producing
molybdenum mine the La Corne mine, which was operated intermittently by Molybdia
Corporation Limited from 1951 to1972 as an underground mine . Total production from the
mine during this period was 3,838,844 tons of ore at a head grade of 0.33% MoS2 (6.6
lbs/ ton) and 0.040% bismuth (0.80 lbs/ton).
Jourdan has previously collected surface grab samples that have returned up to 5.47% Mo
Sigeom reports that the Lac Baillarge-Est occurrence on Jourdan’s Baillarge Property also
has significant lithium mineralization including 2.48% LiO2 over 2.30m drilled in 1955.
Map 3 – Jourdan Resources Property Package in the La Corne District, Quebec. ( Link to
Map 3 https://goo.gl/tDvQG6 )
“With these two acquisitions Jourdan now controls 9,689 hectares in the La Corne Region,
Quebec, by far the largest land position in the region” stated Michael Dehn, CEO of
Jourdan. “With the r ecent restart of the North America Lithium mine, we believe that La
Corne District will be seen as a world class hard rock lithium region and Jourdan will be
well positioned to benefit from it.”
Both transactions are subject to the TSX Venture Exchange approval.
All samples were submitted for sample preparation to ALS Minerals Lab located in Val
d’Or, Quebec for preparation that were then analysis for Me -MS61, ME -OG62, ME -
XRFOS, Mo-OG62, with additional processing and analysis on samples returning greater
than 10% Mo having additional processing and analysis with FND – 02A and Mo-CON02.
Roger Ouellet, P. Geo., a Qualified Person as defined by NI 43 -101, has reviewed and
approved the technical information in this press release. He was also present in the field at
the time of sample collection for the 15 samples from the Baillarge North Property.
About Jourdan Resources
Jourdan Resources Inc. is a Canadian junior mining exploration company trading under
the symbol JOR on the TSX Venture. The Company is focus ed 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:
Michael Dehn
President and CEO
Tel: (647) 477-2382
Fax: (647) 477-2389
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