October 2, 2017

Jourdan Identifies Significant Lithium Mineralization on Vallee Lithium Property due east of North American Lithium’s Producing Mine

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Jourdan Identifies Significant Lithium Mineralization on Vallee Lithium Property due east of North American Lithium’s Producing Mine

  • Mineralized corridor appears to be a minimum 600m thick and 1000m long
  • Compilation identified historical results up to 4.88m of 2.97% LiO2

Mississauga, Ontario, October 2, 2017:  JOURDAN RESOURCES INC. (TSX-V : JOR, Frankfurt and Stuttgart 2JR1) (“Jourdan” or the “Company“) is pleased to announce the results from infill sampling and compilation of drilling from the Vallee Lithium Property, adjacent to the eastern boundary of North American Lithium’s (“NAL”) producing Quebec Lithium Mine. In 2011, Jourdan completed a 4,250 m, 21 drill hole program, the first drill program on the Vallee Lithium property since 1955. In the summer of 2017, the Company relogged and sampled previously untested drill core including holes VAL11-12 and VAL11-19. (See Map 1)

Only 6 holes have completed outside of the significantly mineralized corridor leaving strong potential for additional lithium mineralization on the Vallee Lithium property.

Highlights from infill sampling of the 2011 drilling, completed in the summer of 2017 include 1.30m @ 1.53% Li2O in hole VAL11-19 and 1.65m @ 0.93% Li2O in hole VAL11-19.

The compilation and interpretation, relogging, sampling and surface investigation of the Vallee Lithium property has identified significant lithium mineralization contiguous to a due east of the Quebec Lithium Mine owed by NAL. NAL  is currently completing a planned $50 million financing as a private company, at $2.75 per share, $25 million of which has been committed by a Burwill Holdings Limited, who have also committed to acquire 80% of spodumene concentrate from the Quebec Lithium Mine, which is currently producing.

NAL acquired and is re-starting one of the only near-term viable hard rock lithium operations globally. NAL is the 100-per-cent owner of the Québec Lithium Mine in Val-d’Or, Quebec, a mine site located within reach of North America’s largest markets and export terminals. Jourdan Resources nearly surrounds the Quebec Lithium Mine on all sides save for a portion of the mine’s northern boundary.

Compliation of recent resampling and historical drilling has identified a significantly mineralized corridor of spodumene mineralization 600m thick and 1000m long (visible on Map 1 and Section 1). Holes drilled in 1952, 1953 and 1955 confirm this corridor, and there is very limited drilling outside the corridor, with only 6 holes drilled outside this area that have been complied, and the majority of the area of the Vallee Lithium property is untested.

Concentrate tests results returned more then 5% Li2O from 2011 drill core, previously reported by Jourdan.

Previously unsampled drill core returned results including 0.80m @ 0.63% Li2O in hole VAL11-12, 0.25m @ 0.59% Li2O in hole VAL11-14, and 1.30m @ 1.53% Li2O, 2.05m @ 0.67% Li2O as well as 1.65m @0.93% Li2O all in hole VAL11-19.

Map 1 Plan with 2011 Hole Locations and Quebec Lithium Mine Pit Plan and Mineralized Zones

 

 

 

 

 

 

 

 

Lnk to Map 1 : https://goo.gl/1xfhtF

Highlights in the 2011 drilling include: 6.95m @ 0.88% Li2O in holes VAL11-20, 5.00m @ 0.85% Li2O in hole VAL11-11, 5.50m @ 1.19% Li2O in holes VAL11-20, 5.80m @ 1.08% Li2O, 5.42m @ 0.81% Li2O in hole VAL11-17, 4.63m @ 1.03% Li2O in hole VAL11-17, 6.33m @0.86% Li2O, 6.84m @0.64% Li2O.

. Table 1: 2011-2017 Significant Drilling/Sampling Results

Hole From (m) To (m) Length (m) Grade Li2O%
VAL11-07 78.00 80.01 2.01 0.47
including 78.80 79.51 0.71 1.02
  115.50 117.19 1.69 0.69
  128.78 130.75 1.97 0.19
including 129.29 130.25 0.96 0.58
  180.00 186.84 6.84 0.64
including 185.00 185.50 0.50 1.46
VAL11-08 13.75 15.60 1.85 0.70
including 14.25 15.10 0.85 1.28
  54.54 55.53 0.99 1.54
VAL11-09 121.57 122.40 0.83 0.89
VAL11-10 149.75 150.19 0.44 0.66
  158.00 161.00 3.00 0.82
  171.00 173.00 2.00 0.67
VAL11-11 163.00 168.00 5.00 0.85
including 165.35 167.20 1.85 1.49
VAL11-12 208.10 208.90 0.80 0.63 *
VAL11-13 78.00 80.90 2.90 0.77
including 79.03 80.25 1.22 1.43
  88.76 95.09 6.33 0.86
including 89.16 93.12 3.96 1.14
  137.98 139.18 1.20 1.07
  148.06 149.11 1.05 0.69
VAL11-14 51.45 51.70 0.25 0.59 *
  64.13 65.40 1.27 0.82
  153.47 157.02 3.55 0.61
including 155.33 157.02 1.69 1.00
VAL11-15 54.20 57.08 2.88 0.97
including 54.20 55.50 1.30 1.26
VAL11-16 106.37 107.50 1.13 0.51
VAL11-17 101.50 102.90 1.40 0.48
including 102.05 102.40 0.35 0.95
  109.37 114.00 4.63 1.03
including 110.82 113.45 2.63 1.53
  179.00 184.42 5.42 0.81
including 179.53 182.10 2.57 1.20
VAL11-18 70.88 71.38 0.50 0.56
  80.43 81.27 0.84 1.01
  84.00 89.80 5.80 1.08
including 84.96 88.00 3.04 1.22
  198.00 202.00 4.00 0.65
including 200.00 202.00 2.00 0.88
VAL11-19 38.80 40.10 1.30 1.53 *
  79.40 81.45 2.05 0.67 *
  85.20 86.85 1.65 0.93 *
VAL11-20 37.10 39.00 1.90 1.32
  44.00 45.00 1.00 1.41
  78.50 84.00 5.50 1.19
including 79.17 83.22 4.05 1.51
including 82.37 83.22 0.85 2.68
  153.00 162.00 9.00 0.79
including 153.55 160.50 6.95 0.88
and 153.55 155.50 1.95 1.24
and 159.50 160.50 1.00 1.25
VAL11-21 136.00 140.31 4.31 1.05
including 136.50 139.30 2.80 1.42

*denotes 2017 analysis of previously unsampled core

 

Map 2 Detail Plan of 2011 Drilling with Hole Traces and Vertical Section Locations

 

 

 

 

 

 

 

 

Link to Map 2 : https://goo.gl/JqS43N

“I am very pleased with the grades encountered east of the Quebec Lithium Mine on Jourdan’s 100% controlled Vallee Lithium property. All results are within 2000m of the open pit plan of the Quebec Lithium Mine, and projecting the zones from the Mine on surface towrads the Vallee Lithium property suggest that additional targets exist south of the significant mineralization identified to date on the property” states Michael Dehn, CEO of Jourdan.

Section 1 Vertical Cross Section #3 and Plan showing 2011 drilling with assay results, geology, and significant intersections

 

 

 

 

 

 

 

 

 

 

 

Link to Section 1 : https://goo.gl/N3KME3

Highlight from the 1955 drilling program include 4.88m @ 2.97% Li2O in hole VS-12,  4.06m @ 2.00% Li2O in hole VS-12, 3.97m @ 2.80% Li2O in hole VS-10, 2.59m @ 1.61% Li2O in hole VS-6 and 1.68m @ 1.44% LiO2 in hole VS-7.

Although there were few assay results from the 1955 drill program, the results were very significant, with some wide zones and high grades of spodumene. Holes without assays also provided important geological descriptions of mineralization, as well as areas that the drill was unable to reach bedrock. Map 3 provides the location of the holes drilled in 1955 as well as the location of the 1952, 1953 and 2011 drill hole location.

Table 2: 1955 Drilling Results

  From (feet) To (feet) Length (feet) Grade Li2O% or visual spodumene description
VS-1A (1955) 542.00 542.50 0.50 1.08
VS-1 (1955) 720.50 723.50 3.00 1.36
VS-2 (1955) 307.00 315.00 8.00 some spodumene
VS-3 (1955) 195.00 202.00 7.00 minor spodumene
VS-4 (1955) 0.00 170.00 170.00 Overburden – Abandoned
VS-5 (1955) 383.50 384.50 1.00 some spodumene
  545.50 548.00 2.50 minor spodumene
  552.00 555.00 3.00 fair spodumene (8%)
VS-6 (1955) 457.50 466.00 8.50 1.61
VS-7 (1955) 739.50 745.00 5.50 1.44
VS-8 (1955) 0.00 134.00 134.00 Overburden – Abandoned
VS-9 (1955) 607.00 627.00 20.00 0.09
VS-10 (1955) 588.00 601.00 13.00 2.80
VS-11 (1955) 0.00 125.00 125.00 Overburden – Abandoned
VS-12 (1955) 200.50 213.80 13.30 2.00
  218.20 234.20 16.00 2.97
VS-13 (1955) 0.00 84.00 84.00 Overburden – Abandoned
VS-14 (1955) 233.50 236.70 3.20 1.68
VS-15 (1955) 299.50 311.00 3.50 0.56

 

Highlights from the 1952-53 drilling program include 11.29m @ 15-20% Spodumene in hole S-15,  3.17m @ 50% Spodumene in hole SB-33, 2.99m @ 15% Spodumene as well as Lepidolite in hole SB-50, and 2.81m @ 20% Spodumene in hole SB-52.

There where no assays provided with the logs for the 1952 and 1953 drill holes, but the descriptions and visual identification of spodumene, often with a visual percent of spodumene in the core over a length gives strong indication of lithium mineralization. Additionally, the identification of lepidolite in one hole demonstrates that lithium is present not only in spodumene but in lepidolite as well.

Table 3: 1952-1953 Drilling Results

  From (feet) To (feet) Length (feet) Visual Spodumene (%) or comment
S-15 (1952) 3.40 40.40 37.00 15-20
  57.70 60.40 2.70 15-20
SB-20 (1953) 75.30 78.70 3.40 5-10
  155.50 166.50 11.00 1″ to 2″ long crystals
  173.20 176.80 3.60 1″ to 2″ long crystals
SB-21 (1953) 220.30 235.50 15.20 Coarse Spodumene
SB-22 (1953) 66.70 69.90 3.20 Spodumene Needles
  150.40 163.00 12.60 1/8 to 1/4″ wide, 1 to 2.5″ long crystals
  166.90 169.50 2.60 1/8 to 1/4″ wide, 1 to 2.5″ long crystals
SB-32 (1953) 76.00 78.20 2.20 long acicular elongate crystals
  106.70 126.20 19.50 traces of spodumene
  158.60 171.30 12.70 uniform distribution
SB-33 (1953) 212.00 222.40 10.40 50
SB-34 (1953) 116.00 152.00 36.00 very poor to very good
SB-35 (1953) 171.00 217.00 46.00 abundant 171-215, poor 215-217
  229.30 237.80 8.50 mostly coarse grained
  242.80 253.00 10.20 fine grained, uniform, and abundant
  265.30 267.60 2.30 fine grained, uniform, and abundant
  268.40 273.00 4.60 fine grained, uniform, and fair
SB-36 (1953) 86.90 114.30 27.40 uniform and abundant – visual estimate 1.2% Li2O
SB-37 (1953) 210.30 212.00 1.70 poor to rich
SB-38 (1953) 123.70 125.20 1.50 good fine light green
  202.00 202.70 0.70 Spodumene
  251.20 262.40 11.20 10
  266.00 267.10 1.10 3
SB-39 (1953) 0.00 54.00 54.00 Overburden – Abandoned
SB-40 (1953) 286.60 290.30 3.70 unusual medium grained
  296.60 307.10 10.50 medium to coarse grained
SB-41 (1953) 205.50 206.30 0.80 traces of spodumene
  276.60 285.50 8.90 traces for a few inches on both walls
SB-42 (1953) 355.30 357.50 2.20 fair amount
  365.30 372.50 7.20 coarse pale crystals
  381.60 386.00 4.40 fair amount fine grained
  387.00 389.70 2.70 Trace
  423.70 426.40 2.70 Fair
  447.50 448.90 1.40 Fair
SB-43 (1953) 0.00 55.00 55.00 Overburden – Abandoned
SB-44 (1953) 172.50 174.20 1.70 fair amount
  192.90 193.30 0.40 fair amount
  215.70 227.60 11.90 coarse, fair amount
  330.90 331.80 0.90 coarse, rich
  355.70 358.30 2.60 coarse, elongate
  398.10 399.90 1.80 Trace
SB-45 (1953) 52.00 63.60 11.60 coarse and fine crystals
  188.90 189.70 0.80 Trace
SB-46 (1953) No Spodumene Noted  
SB-50 (1953) 282.20 285.30 3.10 13
  298.90 300.40 1.50 15
  302.20 312.00 9.80 15% spodumene as well as some lepidolite
SB-52 (1953) 322.60 324.60 2.00 5
  381.50 390.70 9.20 20
SB-56 (1953) 93.30 96.50 3.20 Trace
  116.30 121.40 5.10 5
  143.20 144.70 1.50 trace

 

Map 3 Plan of all drill holes to date on the Vallee Lithium Property (as well as a few on the Quebec Lithium Mine Property)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Link to Map 3 : https://goo.gl/c7PtKg

All new samples have been sent to SGS Canada Inc. facilities in Lakefield, Ontario (“SGS”) for analysis by Inductively Coupled Plasma methods.  These laboratories are recognized by the industry and accredited ISO/MEC 17025 by the Standards Council of Canada.  In addition to the quality assurance and quality control (“QA/QC”) employed by SGS, Jourdan Resources develops a rigorous QA/QC protocol for its operators, including the insertion of analytical standard samples, duplicates, and coarse silica blanks on a systematic basis.  To determine the QC warning, ±2x Std. Dev., and QC failure ±3x Std. Dev. were used. QC results did not highlight any significant analytical bias.

Yves Caron, M.Sc., P.Geo., and Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this press release.

 

About Jourdan Resources

Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol JOR on the TSX Venture and 2JR1 on the Frankfurt and Stuttgart Stock Exchanges. The Company is focused 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

michael@jourdanresources.com

 

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While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to, risks and uncertainties disclosed in other public  Jourdan Resources filings, changes in general economic, market and business conditions, competition for, among other things, capital and skilled personnel, and other unforeseen events or circumstances, that may cause the actual financial results, performance or achievements of the Company to be materially different from estimated future results, performance or achievements expressed or implied by the forward-looking statements. Copies of the Company’s public filings under applicable Canadian securities laws are available at www.sedar.com. The Company further cautions that information contained on, or accessible through, this website is current only as of the date of filing such information and may be superseded by subsequent events or filings. Other than as required by law, Jourdan Resources does not intend, and undertakes no obligation, to update any forward looking information to reflect, among other things, new information or future events.

Although the Company believes many of its properties have promising potential, its properties are in the early stages of exploration. None have yet been shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on any property, or that, if identified, any mineralization may be economically extracted.

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