Jourdan Intersects 0.82% Li2O over 8 m at Vallée Mineralization Remains Open along Strike, Down-Dip and to the South
Jourdan Intersects 0.82% Li2O over 8 m at Vallée
Mineralization Remains Open along Strike, Down-Dip and to the South
TORONTO, March 21, 2023 -- JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORFF; 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.jourdaninc.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% Li 2O.
Highlights from this batch of samples was from the bottom half of hole VAL22-8-5, which encountered 0.82% Li 2O 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% Li 2O 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
VAL22-8-5 125.0 133.0 8.0 0.82
VAL22-9-1 97.5 98.5 1.0 0.51
VAL22-9-1 192.7 193.7 1.0 0.68
VAL22-10-1 166.0 167.0 1.0 0.58
VAL22-10-3 164.0 165.5 1.5 0.64
VAL22-7-5 121.0 124.0 3.0 0.51
VAL22-7-5 149.5 150.5 1.0 0.51
VAL22-7-5 182.0 183.0 1.0 0.67
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.
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: [email protected]
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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/571b05ed-dbcf-4d20-867a-7749ec0c7670
https://www.globenewswire.com/NewsRoom/AttachmentNg/36cd9094-7ede-41d2-9bcb-ef02873bd921