JOURDAN Acquires Additional Strategic Claims Contiguous to and Within the New Zone Recently Discovered by First Gold Exploration
April 21 2010 - 8:30AM
Marketwired
JOURDAN RESOURCES INC. (TSX VENTURE: JRN) ("JOURDAN" or the
"Company") is pleased to announce the acquisition of 57 claims
totalling 3,024 hectares for 30.24 km2 (the "New Claims"), adding
to the 37 claims recently acquired by the Company known as the
Pivert-East Property in the Eastmain Greenstone Belt (NTS Map-Sheet
33C/01) within the James Bay Mining District of Quebec, located due
south of the community of La Grande (refer to the JOURDAN news
release dated January 27, 2010). The entire claim package is now
termed the Pivert-Stairs Rare Metals Property (the "Property")
(refer to the appended map). The New Claims consist of the:
-- Pivert East #2 Claim Block (12 claims; 636 hectares for 6.4 km2)
immediately contiguous and less than 1 kilometre to the northeast of the
First Gold Exploration (TSX-V: EFG) ("First Gold") Lac Pivert Lithium
Showing on First Gold's Pivert/Rose Rare Metals Property;
-- Lac Pivert West Claim Block (2 claims; 106 hectares for 1.1 km2) between
First Gold's Lac Pivert Lithium and 2.5 kilometres from their new Rose
Lithium-Rubidium Discovery; and the
-- Stairs Claim Block (43 claims; 2,282 hectares for 22.8 km2) immediately
contiguous to the southwest of First Gold's Rose Lithium-Rubidium
Discovery.
The New Claims are added to the Pivert East #1 Claim Block (37
claims; 1,924 hectares for 19.2 km2) or the former Pivert-East
Property.
JOURDAN now holds 94 claims for 4,948 hectares or 49.5 km2
covering the 12+ km long prospective Pivert Rare Metals Corridor
(refer to the appended location map). The Property sits less than 5
km from the Eastmain-1 Hydroelectric facility where substantial
infrastructure exists. There is an access road to within 500 m of
the Lac Pivert East #1 and #2 and Lac Pivert West Claim Blocks. A
north-south hydro line straddles the Lac Pivert West Claim
Block.
Mr. Emilien Seguin, President and CEO of JOURDAN stated "We are
pleased to have taken a major land position in the newly discovered
Pivert Rare Metals Corridor in the James Bay Mining District. The
acquisition fits JOURDAN's strategy of acquiring Uranium and Rare
Metals or High Technology Metals ("HTM's") sectors of eastern
Canada. Now, since the Pivert-Stairs Rare Metals Property is close
to infrastructure, JOURDAN expects to initiate a low-cost early
summer exploration program to identify surface Lithium and other
Rare Metals mineralization, which can immediately lead to drilling
in the near term."
The Pivert Rare Metals Corridor
First Gold's had previously announced surface sampling and
diamond drilling results (on adjacent claims) with significant
quantities of the Rare Metals Lithium, Rubidium, Tantalum,
Beryllium, Niobium and Gallium. Surface grab sampling yielded 4.6%
Li2O, 390 g/t Rubidium, 1.4 g/t Tantalum, 67.7 g/t Niobium, 106.5
g/t Gallium, 90 g/t Beryllium (#430917); 4.74 m (true width) drill
hole intersection yielding 1.03% Li2O, 2,923 g/t Rubidium, 286 g/t
Tantalum, 54.24 g/t Niobium and 128 g/t Beryllium (Drill Hole
LR-09-02), and 9.48 m (true width) yielding 1.50% Li2O, 2,755 g/t
Rubidium, 290 g/t Ta2O5 and 155 g/t Be over 9.48 m (Drill Hole
LR-09-07) (refer to the First Gold Exploration Inc., news releases
from January 22 to March 16, 2010).
Earlier work by the Ministere des ressources naturelles et de la
faune Quebec (Boisvert, 1989) describes the Property area as
containing irregular but generally continuous lenses of pegmatites
within the host biotite schists. Individual pegmatites can attain
up to 60 m in width and more than 100 m in length, collectively
forming part of a much larger bodies having kilometric lengths and
widths up to 300 m. Additional work uncovered a number of Lithium
showings in the region with a similar metallogenic context to
Lithium One's Cyr Lithium Property and First Gold's Pivert/Rose
Rare Metals Property, where irregular but generally continuous
spodumene (a lithium bearing aluminum silicate) bearing pegmatites
occur.
Historical work on Cyr Lithium Property has demonstrated
significant Lithium potential, identifying a resource potential(i)
of 12 million tonnes (45,000 m2 by 100 m deep) grading 1.7% Li2O
(www.lithium1.com). A resource potential estimate should not be
relied on and is not considered National Instrument ("NI") 43-101
compliant. A Qualified Person has not reviewed and evaluated the
resource potential to outline NI 43-101 Mineral Resources. It is
uncertain that any future exploration and development work will
result in any of the resource potential to be considered as NI
43-101 Mineral Resources. A resource potential estimate should only
be considered as an indication of mineralization.
The New Claims were optioned from arm's length parties (the
"Vendors") by paying $30,000 and issuing 3 million common shares of
JOURDAN upon regulatory approvals, and a further cash payment of
$20,000 and the issuance of 2,000,000 shares on or before the 1st
anniversary date. The Vendors retains a 2% Net Smelter Returns (the
"NSR") Royalty, of which 1% may be purchased by JOURDAN for $1
million. If JOURDAN sells or options any of the New Claims to a
third party before having exercised a 100% interest in the
Property, 20% of the proceeds will be given to the Vendors. There
is a Finder's Fee of 300,000 common shares of the Company paid out
to an arm's length party.
About Jourdan Resources Inc.
Jourdan Resources Inc. is a Canadian junior mining exploration
company trading under the symbol JRN on the TSX Venture Exchange.
The Company is focused on the acquisition, exploration, production,
development and if, as the case may be, the operation of mining
properties in strategic Uranium and Rare Metals or High Technology
Metals ("HTM's") sectors of eastern Canada. The Company's
properties are currently at the exploration stage along the Lower
North Shore, the Mauricie and now the James Bay regions of
Quebec.
The technical information in this news release was approved by
Mr. Jean Lafleur, M. Sc., P. Geo., Technical Advisor to the
President and CEO of JOURDAN, and a Qualified Person under NI
43-101 regulations.
Please visit the Company's website at www.jourdan.ca, and you
can also download Jourdan's Corporate Summary at
www.jourdan.ca/jrn.pdf.
Location map of JOURDAN Resources Inc.'s Pivert-Stairs Rare
Metals Property in the James Bay Mining District of northern Quebec
: http://media3.marketwire.com/docs/JRNa0421.pdf
Neither the 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. Statements in this release that are not
historic facts are "forward-looking statements" and readers are
cautioned that any such statements are not guarantees of future
performance, and that actual developments or results, may vary
materially from those in these "forward-looking statements.
Contacts: Jourdan Resources Inc. Emilien Seguin President and
CEO, Director 450-670-5224 514-787-1457 (FAX) Jourdan Resources
Inc. Guy Girard VP Finance, Director 514-798-1290 514-787-1457
(FAX) info.jourdan.ca
Jourdan Resources Inc. (TSXV:JRN)
Historical Stock Chart
From Jul 2024 to Aug 2024
Jourdan Resources Inc. (TSXV:JRN)
Historical Stock Chart
From Aug 2023 to Aug 2024