JOURDAN Acquires the Pivert-East Property Adjoining First Gold Exploration Inc. Pivert/Rose Rare Metals Property in the James Ba
January 27 2010 - 7:00AM
Marketwired
Jourdan Resources Inc. (TSX VENTURE: JRN) ("JOURDAN" or the
"Company") is pleased to announce the acquisition of the
Pivert-East Property (the "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 (Quebec).
The Property was purchased from an arm's length party (the
"Vendor") for a cash payment of $8,000; 1.5 million common shares
of JOURDAN; and minimum $500,000 in exploration expenditures over
an 18 month period. The Vendor retains a 2% Net Smelter Returns
(the "NSR") Royalty of which half can be purchased by JOURDAN for
$1 million. Registration of the claims by the Quebec government is
still pending, but should be confirmed shortly. The Company shall
pay a finder's fee to arm's length third parties in connection with
this proposed properties acquisition in accordance with TSX Venture
Exchange Policies.
The Property consists of 37 claims for 1,924 hectares or 19.2
km2 and is located 2 km northeast of, and along strike, to the
Pivert/Rose Property held by First Gold Exploration Inc. (TSX
VENTURE: EFG) (refer to the First Gold Exploration Inc., news
releases dated January 21 and 25, 2010) where sampling showed
significant quantities of the Rare Metals Lithium, Rubidium,
Tantalum, Beryllium, Niobium and Gallium. Surface grab sampling
from the Pivert/Rose Property 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); with an additional 4.74 m (true width) drill
hole intersection yielding 1.03% Li2O, 2,923 g/t Rubidium, greater
than 100 g/t Tantalum, 54.24 g/t Niobium and 128 g/t Beryllium
(LR-09-02).
Boisvert (1989) describes the region as containing pegmatites
occurring as irregular but generally continuous lenses within the
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 by the Ministere des ressources naturelles et de
la faune Quebec uncovered a number of Lithium showings in the
region with a similar metallogenic context to that of the Cyr
Lithium Property (owned by Lithium One Inc.) and the Pivert/Rose
Property, where irregular but generally continuous spodumene (a
lithium bearing aluminum silicate) bearing pegmatites. Historical
work on Cyr Lithium Project 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.
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.
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
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