Jourdan increases its financing by private placement

  • The northern pegmatite, which had been intersected by historical drill holes from 1958, has now been confirmed by drilling over a strike length of over 200 metres.
  • We have continuously expanded the known size of the northern pegmatite, the existence of which was confirmed by our fall 2021 drilling campaign, since our drilling VAL21-3-4 was completed in October 2021, and in which a pegmatite spodumene of 21m has been identified
  • This new information reinforces our expectations for the northern pegmatite
Borehole From (m) to M) Length Li 2 Y (%)
VAL22-4-3 89 90 1 1
VAL22-4-3 106.55 108.45 1.9 1.8
including 106.55 107.45 0.9 2.38
VAL22-4-3 177.75 183 5.25 1.33
including 178.8 179.9 1.1 1.83
VAL22-3-6 117 119 2 1.18
VAL22-3-5 48.7 50.8 2.1 0.7
VAL22-3-5 120.8 121.85 1.05 0.79
VAL22-3-5 128.2 129.95 1.75 0.81
VAL22-3-5 141.35 145.6 4.25 0.75
including 144.5 145.6 1.1 1.21

*drill core width only, does not represent true width

As mentioned in a press release dated May 24, 2022, the Company has completed its previously announced diamond drill program, with 3,629m drilled by May 2022. The Company has now received more assay results from the program and awaits further analyzes in which each hole showed multiple intersections of spodumene pegmatite.

The 18 holes of the Company’s 2022 winter drilling campaign intersected the new spodumene pegmatite swarm on its Vallée property in a previously underexplored eastern extension, which had not been exposed by the North American Lithium mine. west of Vallée (see Fig. 1).

Since restarting drilling in September 2021, Jourdan has drilled 26 drill holes, all of which have intersected multiple spodumene pegmatite dykes.

“We are extremely pleased with the latest drill results. Not only have our drill holes intersected several pegmatites, but they have also reached significant thicknesses in the grades which we believe will positively impact our ongoing initial resource estimation exercise,” said Dr. Andy Rompel. , Executive Chairman. of Jordan. He continued: “So far, these recent drill campaigns have been particularly effective in bolstering our confidence in the size and grade of the deposit we have at Vallée.”

The completed drilling program was carried out by Forage Hébert located in Amos, Quebec, under the supervision of Alexandr Beloborodov, Geologist Inc. (ABG Exploration) of Amos, Quebec.

Jourdan’s President and CEO, Rene Bharti, said, “Jourdan is pleased to report again respectable assay results from core recently collected during its 2022 drilling campaign. establishment of an initial mineral resource estimate at Vallée in the short term and the start of a drilling program on its two other properties, Baillargé and Preissac-La Corne. »

Figure 1: The Vallée property is located approximately 35 km north of Val-d’Or and immediately east of the North American Lithium mine. This figure represents the drillings carried out in 2011, 2021 and 2022. The 26 drillings since 2021 have intersected the spodumene-rich and Li-bearing pegmatite swarm.

https://www.globenewswire.com/NewsRoom/AttachmentNg/94fa2a29-267f-442d-ab8b-595e66e1a300

The Company’s now-completed 3,629m diamond drill program aimed to follow up results from a 40 tonne bulk sample taken in 2018, the fenceline drilled in 2011 and follow-up drilling in 2021 along the west side of the Company’s property. Vallée property, which borders the North American Lithium mine. As expected, the drill program significantly extended the known deposit on the Company’s Vallée property to the east. Since February 2022, 18 holes approximately 200 m deep have been drilled, each targeting the pegmatite swarm identified by stripping the bulk sample taken from the Vallée property in 2018. Assay results from the bulk sample revealed elevated levels of Li 2 O (for further information, please see the Company’s press release dated April 29, 2021, available under the Company’s SEDAR profile at www.sedar.com), which encouraged the Company to pursue the exploration and exploration drilling along strike and at depth of its Vallée property.

Jourdan has significantly expanded its database by adding more boreholes since the start of exploration work in 2011. The 2011 drilling included 21 boreholes (4,256 m), the 2021 campaign included eight boreholes (1,680 m) and with the 3,629 m completed in 2022, Jourdan has over 9,490 m (47 holes) of core that the Company intends to use in the future to establish an initial mineral resource estimate.

Qualified person
The scientific and technical information contained herein has been reviewed and approved by Alexandr Beloborodov, P.Geo., an independent consultant who is a “qualified person” as defined in National Instrument 43-101 – Disclosure standards for mining 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 mineral properties. The Company’s properties are located in Quebec, Canada, primarily in the spodumene pegmatites of the La Corne Batholith, around North American Lithium’s Quebec lithium mine.

For more information:
René Bharti, Managing Director and President
E-mail: [email protected]
Phone: (416) 861-5800
www.jourdaninc.com

Warnings

The content and grades of any mineral deposits on the Company’s properties are conceptual in nature. There has not been sufficient exploration to define a mineral resource on the property and it is uncertain whether further exploration will result in the delineation of a target as a mineral resource.

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the Company’s winter 2022 drilling program, including anticipated additional assay results, management’s expectations for the North Pegmatite and the ability of the Company to establish an initial mineral resource estimate. on its properties, start drilling on its Baillarge and La Corne properties 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 planned”, “budget”, “expects”, “estimates”, “plans”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or statements that certain actions, events or results “could”, “could”, “would”, “could” or “will be taken”, “will occur” or “will be carried out”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, level of activity, performance or achievements of Jourdan to differ materially 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, labor disputes and shortages and other hazards of the mining industry. Although Jourdan has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be those anticipated, estimated or planned. 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 forward-looking information except in accordance with applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE RELEVANCE OR ACCURACY OF THIS RELEASE.

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