New Phosphate Zone on Jourdan's Recently Acquired Hache Property Returns up to 5.99% P2O5
20.01.2014 | FSCwire
* Regional prospecting and ground geophysics program completed at Hache
* New discovery of phosphate mineralization identified over a 1.6 km strike length in one zone
* Significant grab sample results include 5.99% P2O5, 5.56% P2O5 ,and 4.72% P2O5
* Additional claims covering 6.2 sq. km staked while prospecting based on visual identification of phosphate minerals and these claims returned the highest grade results
Toronto (Canada), January 20, 2014 /FSC/ - Jourdan Resources Inc. (JOR - TSX Venture),("JOURDAN" or the "Company") (www.jourdan.ca) is pleased to announce the completion of a regional prospecting program on the company's Hache Phosphate Property. The Hache Property is located 60 km North of Saguenay, Quebec.
"Grab sample results received far exceeded expectations for a first pass prospecting program on the property" states Michael Dehn, Jourdan's President and CEO. Investors should note, grab samples are selective by nature and may not be representative of average grades of the mineralization within zones.
The acquisition of the Hache property by Jourdan was announced on October 31, 2013, in the press release titled Jourdan Acquires 100% Of Hache Phosphate Property, Near Saguenay, Quebec( http://www.jourdan.ca/uploads/180.pdf).
The Zone "A' on Jourdan's Hache claims discussed in this release is located 11.5 km west of the La Hache-Est historic resource (Source: Sigeom - La Hache-Est non-metallic mineral deposit and GM 23170 (Nov 1 1968) Soquem Rapport des Travaux, Explorations Terre Nova Ltee Project 13-778-01 La Hache-Est). The La Hache-Est historic resource is reported as 20.32 million tonnes containing 24.75% Fe, 5.15% Ti and 5.21% P2O5. This project was originally looked at as a potential source of iron ore, and at the time had not been considered for its potential for phosphate or titanium..
The prospecting program was designed as a first pass of ground exploration on the Hache property, only prospecting along accessible roads. Snow limited access to some roads and exposure of outcrops. While prospecting, phosphate mineralization was visible as the mineral apatite, encouraging the company to stake an additional 6.2 sq km of claims, on which many of the samples presented in this release have been collected.
A total of 26 surface grab sample results were received from AGAT Laboratories for analysis of the western block of the Hache claims described in this release. The range in phosphate results from the grab samples was from 0.09% P2O5 to 5.99% P2O5 with an average of all 26 samples being 2.82% P2O5. Sample density is highly variable ranging from kilometers between samples to within 50m separation depending on outcrop distribution and snow cover.
A higher grade phosphate mineralized zone, Zone "A" runs for approximately 1.6 km on surface, running approximately north-northeast to south-southwest. Due to weather conditions, sampling only occurred on outcrop along roadways, and the zone is open to the NNE, SSW and to depth. The average of the 11 grab samples that were collected from Zone "A" is 4.27% P2O5. The range of results in assays within the zone were from 3.15% P2O5 to 5.99% P2O5. A thickness on this zone has not yet been determined, as all visible outcrop within the zone appears mineralized.
A second zone of phosphate mineralization, Zone "B" was identified near the eastern margin of the claims. This zone runs for approximately 300 m, but it is still unclear if this is the thickness of the zone or the strike length of the zone. Airborne geophysics from the zone appears to show that the sampling runs oblique to both strike and thickness of the zone. Additional determination of the Zone "B" orientation and size will take place once the snow cover clears. Within Zone "B" six grab samples were collected with an average of 2.55% P2O5. Assays ranged from 1.21% P2O5 to 4.01% P2O5 within this zone.
9A table of grab sample results received is presented below:
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Sample UTM East UTM North Fe2O3 % P2O5 TiO2 % V2O5 % Zone
Number (m) m %
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265012 350266 5425687 15.20 1.85 3.67 0.03
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265013 348684 5425938 20.20 3.42 3.70 0.03 "A"
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265014 348633 5425887 20.10 3.15 4.46 0.03 "A"
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265015 348573 5425796 34.30 4.35 7.24 0.06 "A"
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265016 348568 5425779 13.80 0.09 1.00 0.05
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265017 348612 5425713 36.00 4.05 8.63 0.04 "A"
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265018 348630 5425643 37.30 5.56 6.78 0.04 "A"
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265019 348417 5426545 23.90 0.35 4.08 0.10
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265020 348043 5425968 18.30 0.95 4.72 0.06
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265021 348043 5425968 28.00 2.78 6.74 0.09
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265022 349070 5424488 24.50 0.26 5.08 0.11
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265023 348904 5424761 25.30 1.85 4.38 0.10 "B"
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265024 348281 5425260 30.80 5.99 5.23 0.05 "A"
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265025 348269 5425226 27.60 4.72 5.10 0.05 "A"
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265026 348258 5425184 28.90 3.85 5.28 0.05 "A"
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265027 348216 5425134 25.70 4.46 5.05 0.04 "A"
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265028 348197 5425106 24.30 4.03 5.06 0.04 "A"
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265029 347899 5424705 23.40 3.37 4.58 0.04 "A"
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265092 350307 5424859 21.00 1.80 3.26 0.01
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265093 350311 5424827 7.23 0.34 0.94 0.01
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265094 350260 5425461 23.20 2.68 5.62 0.07 "B"
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265095 350260 5425461 30.50 1.99 7.30 0.11 "B"
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265097 350258 5425530 27.40 4.01 7.14 0.09 "B"
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265098 350259 5425558 15.80 1.21 3.44 0.05 "B"
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265099 350259 5425558 26.80 2.20 6.71 0.09 "B"
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265100 350259 5425558 24.40 3.94 6.69 0.08 "B"
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"Jourdan's goal is to become the dominant phosphate miner in North
America," says Jourdan's CFO, Glen Wylie. "Low cost acquisitions in promising locations are important components of this longer-term strategy. Regardless of how challenging the present market environment is for junior exploration companies, it's important to balance short-term tactical strategies with building additional foundations for longer-term success. Projects like Hache have the potential to add real value for shareholders as Jourdan moves forward."
Map 1: Sample locations and results on regional airborne magnetic, Hache Property
http://jourdan.ca/pdf/20140120MAP1.pdf
Map 2 Hache Property showing claims locations, additional staked claims, and locations of claims discussed in the release
http://jourdan.ca/pdf/20140120MAP2.pdf
Quality assurance / Quality Control ("QA/QC")
Surface grab samples averaging 1 kilogram each were collected by qualified personnel from JOURDAN under the technical supervision of Stephen Wallace, P. Geo. Samples were bagged, sealed and numbered on-site, and delivered to the Jourdan's Office in Mississauga, Ontario. Standards, duplicates and blanks were inserted into the sample sequence prior to delivery to AGAT Laboratories. Sample were transported to AGAT Laboratories facility in Mississauga, Ontario for analysis using the analytical packages 201676 Lithium Borate Fusion, XRF finish and 201078 Lithium Borate Fusion, ICP-MS Finish. At the laboratory facility, samples were inventoried, weighed and dried; crushed 75% to under 2 millimetres; riffled split with a 250 gram sub-sample pulverized 85% to under 75 microns; followed by analysis.
The technical information in this news release was approved by Mr Stephen Wallace, P. Geo, VP Exploration of Jourdan Resources, and a Qualified Person under NI 43-101 regulations.
About Jourdan Resources
Jourdan Resources Inc. is a Canadian junior mining exploration company focused on phosphate. We continually strive to maximize shareholder value by targeting the highest quality phosphate projects with a professional and highly experienced management team. Our approach combines creativity, experience, and technical expertise with tenacity and determination to advance existing projects while always being prepared to take advantage of new opportunities that can add value for our shareholders. We are committed to conducting ourselves in an open, professional, and responsible manner, while always remaining available to all shareholders. Our goal is to become the dominant phosphate miner in North America.
Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol JOR on the TSX Venture Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties in phosphates.
Please visit the Company's website at www.jourdan.ca
For further information please contact:
Michael Dehn
President and CEO, Jourdan Resources Inc.
Tel: (647) 477-2382
Fax: (647) 477-2389
michael@jourdan.ca
Glen Wylie, CMA
CFO, Jourdan Resources Inc.
Tel: (647) 477-3758
Fax: (647) 477-2389
glen@jourdan.ca
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including any information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, may constitute forward-looking information (collectively "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts and include, but are not limited to, resource estimates, capital and operating expenditures, economic conditions, availability of sufficient financing, receipt of approvals, satisfaction of closing conditions and any and all other timing, development, operational, financial, economic, legal, regulatory and/or political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to, access to capital markets and other sources of financing and associated cost of funds, final receipt of any required approvals, sufficient working capital for development and operations, access to adequate services and supplies, availability of markets for products, commodity prices, foreign currency exchange rates, interest rates, availability of a qualified work force, availability of manufacturing equipment, no material changes to the tax and regulatory regime, the ultimate ability to execute business plans on economically favourable terms and those material factors and assumptions disclosed in other public filings of Jourdan Resources.
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.
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 statement.
To view this press release as a PDF, please click on the following link:
http://www.usetdas.com/pr/jourdan01202014.pdf
Source: Jourdan Resources Inc. (TSXV: JOR) http://www.jourdan.ca
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