Tuesday, July 15, 2014 - 8:00 AM EDT

 

Jourdan Identifies High Grade Iron and Titanium Showings Near Fleury Phosphate Showings

 

  • New claims cover interpreted extension of Fleury Phosphate Showings based on recently reported compiled high resolution airborne magnetics.

 

  • Significant historic grab sample results on new claims include 71.6% Fe2O3 and 21.90% TiO2, from the south-western edge of the La Blache Anorthositic Complex


Toronto, Ontario (FSCwire) - JOURDAN RESOURCES INC. (TSX-V: JOR) (“JOURDAN” or the “Company”) (www.jourdan.ca) is pleased to announce historical results of channel and grab samples collected from claims recently staked on the company’s Dissimieux Lake Phosphate Property project located 140 km north-west of Baie-Comeau and 130 km north of Forestville, Quebec along the Upper North Shore of the St. Lawrence River.

 

As part of continuing exploration on the Company’s flagship Dissimieux Lake Property, Jourdan has staked 28 new claims totaling 1,546 hectares based on the recently compiled high resolution airborne magnetics. (http://www.jourdan.ca/uploads/206.pdf)  These new claims in part cover the interpreted northern extension of the Fleury showing, which were sampled by Jourdan in late 2013 (See Maps 1 and 2).

 

With this low-cost, strategic acquisition, Jourdan is continuing to push toward its goal of becoming the dominant phosphate exploration company in Quebec.  “We are specifically targeting opportunities like this,” states Michael Dehn, Jourdan’s President & CEO.  “We are not waiting for the next resource sector boom, because by then opportunities like this will be harder to find at these prices.  We continue to push forward on exploration, and toward building the foundations for longer-term success.”

 

In addition to the phosphate potential, historical samples with high iron and titanium values were collected from these claims in 2010 and 2011 by previous claim holders targeting the la Blache anorthosite. These results have been previously published in assessment reports GM 67494 and GM 66444 available on Sigeom at http://goo.gl/1dFHKf and a 43-101 technical report by the previous claim holder was filed on July 6, 2012, available at  http://goo.gl/WQu8Kw. Significant results on these new claims from surface channel sampling include 2.2m averaging 63.0% Fe2O3 and 16.35% TiO2 in Channel A, 3.2m averaging 64.1% Fe2O3 and 18.05% TiO2 in Channel C, 2.0m averaging 61.8% Fe2O3 and 16.04% TiO2 in Channel D and 1.5m averaging 67.2% Fe2O3 and 19.41% TiO2 in Channel E.

 

The historical samples were derived from magmatic-type iron-titanium mineralization generally associated with a particular type of large intrusive complexes, in this case the La Blache Anorthositic Complex (the "LBAC"). The LBAC extends 35 km in a northeast-southwest direction by 15 km across; hosting a series of magnetite-ilmenite rich lenses some tens to hundreds of metres in size. Jourdan’s new claims lie at the south-west end of the LBAC and are generally road accessible. Several historical resources lie within the LBAC, located from 4 to 10 kilometres from the new claims, and are described in Table 1.

 

Table 1: Historical resources within the LBAC include:

 

Name

Category

Tonnes

Fe2O3%

TiO2%

Owner

Source

Hervieux-East

Measured and Indicated

12,448,000

63.18

18.50

Argex Titanium Inc.

http://goo.gl/3vLhTD

Hervieux – West

Measured and Indicated

18,440,000

63.36

18.95

Argex Titanium Inc.

http://goo.gl/3vLhTD

Farrell-Taylor

Mineral Resource

81,860,000

62.90

19.06

Nevado Resources Corp.

http://goo.gl/0x6ojl

 

Historical grab and channel sampling listed in the table below outlines six zones of historical sampling on Jourdan’s new claims. The zone sampled with the greatest number of samples is the GSP Zone, which has been moderately sampled for approximately 1.5 km along strike which coincides with road access. Samples within the GSP zone range from 9.4% Fe2O3 to 69.0% Fe2O3 and from 3.13% TiO2 and 21.30% TiO2. Investors should note grab samples are selective by nature and may not be representative of average grades of the mineralization within zones.

 

Due to the sample density it is difficult to determine if the remaining five zones represent individual zones or fewer larger zones. Further sampling will be planned to determine the exact size and location of all zones. All publically available historical samples from previous claim holders are compiled and presented in Table 2 below.

 

Table 2 Historical Iron and Titanium grab and channel samples

 

Sample Number(s)

Channel Length

Fe2O3%

TiO2%

Zone

Channel

 

m

   

 

 

701150

grab

9.4

3.13

GSP

 

701151

grab

68.8

18.30

GSP

 

701152

grab

63.1

18.45

GSP

 

701153

grab

66.1

19.20

GSP

 

701154

grab

56.5

17.65

GSP

 

701155

grab

21.9

5.18

GSP

 

701157-701164

4.2

53.9

13.17

GSP

A

701157-701160

2.2

63.0

16.35

GSP

A

701157

0.4

58.8

14.75

GSP

A

701158

0.8

63.3

15.10

GSP

A

701159

0.5

65.5

17.80

GSP

A

701160

0.5

63.4

18.20

GSP

A

701161

0.5

50.4

11.25

GSP

A

701162

0.5

43.3

9.37

GSP

A

701163

0.5

58.2

13.60

GSP

A

701164

0.5

23.4

4.47

GSP

A

701165

grab

64.6

15.55

GSP

 

701166

grab

4.53

1.04

GSP

 

701174-701177

2.0

58.4

15.40

GSP

B

701174

0.5

57.5

15.40

GSP

B

701175

0.5

54.8

14.45

GSP

B

701176

0.5

66.7

17.45

GSP

B

701177

0.5

54.7

14.30

GSP

B

701178-701182

3.2

64.1

18.05

GSP

C

701178

0.6

67.0

18.25

GSP

C

701179

0.6

64.4

18.65

GSP

C

701180

0.6

65.4

20.00

GSP

C

701181

0.6

67.4

18.75

GSP

C

701182

0.8

58.1

15.45

GSP

C

701183-701185

2.0

61.8

16.04

GSP

D

701183

0.6

63.8

16.60

GSP

D

701184

0.6

60.4

16.20

GSP

D

701185

0.8

61.3

15.50

GSP

D

701186-701187

1.5

67.2

19.41

GSP

E

701186

0.8

65.7

19.15

GSP

E

701187

0.7

69.0

19.70

GSP

E

409802

grab

67.7

20.90

GSP

 

409795

grab

68.0

21.30

GSP

 

701154

grab

56.5

17.65

GSP North

 

409802

grab

67.7

20.90

JV

 

701148

grab

9.3

0.80

JV

 

701149

grab

15.3

1.70

JV

 

409851

grab

8.8

1.35

GV

 

409852

grab

66.4

20.60

GV

 

409853

grab

52.8

15.10

GV

 

409854

grab

67.1

19.70

GV

 

409855

grab

65.2

19.80

GV

 

409856

grab

15.4

3.01

GV

 

409775

grab

66.9

19.05

GV

 

701104

grab

8.1

1.70

JFP

 

409821

grab

52.2

17.80

EB

 

409822

grab

62.1

19.80

EB

 

409823

grab

71.6

20.10

EB

 

409778

grab

69.4

19.80

EB

 

409791

grab

69.3

21.90

EB

 

409803

grab

65.2

17.85

JB

 

409804

grab

68.4

19.25

JB

 

All table information is from Sedar or Sigeom (System d'information geominier) data provided online by the Ministry of Natural Resources, Quebec. Sample locations and assay data has not been verified by Jourdan Resources.

Zones -GSP - Georges St-Pierre Zone

JV - Jacques Villeneuve Zone

GV - Gilles Villeneuve Zone

EB - Eugenie Bouchard Zone

JB - Jean Beliveau Zone

JFP - Jean-Francois Picard Zone

 

 

“Jourdan’s primary focus is on phosphate, however, what can sometimes happen in this type of intrusive rock, both phosphate and iron/titanium zones can be found in close proximity.  This helps us with our phosphate targeting.  But of equal interest is that, by targeting in this way, you can end up with more than one type of mineral deposit that may have some future economic value”, states Jourdan’s VP Exploration Stephen Wallace.

 

The 28 new claims were staked based on the interpretation of what appears to be a continuous magnetic feature that is host to previously reported historical showings Fleury 1-4, 1-5 and 1-7 that returned 5.41% P2O5, 5.78% P2O5 and 6.14 % P2O5, respectively (March 1, 2013 http://www.jourdan.ca/uploads/172.pdf and February 20, 2014 www.jourdan.ca/uploads/194.pdf) (see Table 3).

 

 

Table 3 : Historical Samples Values of Fleury Showings on Magnetic Trend

Name

Year Collected

Sample Number

TiO2

Fe2O3

P2O5

Fleury 1-7

2008

2008045717

6.98

28.42

6.14

Fleury 1-4

2008

2008048827

7.91

31.54

5.41

Fleury 1-5

2008

2008048832

7.82

22.71

5.78

All table information is from Sigeom (System d'information geominier) datasets provided online by the Ministry of Natural Resources, Quebec. Sample locations and assay data has not been verified by Jourdan Resources.

 

 

Previously announced samples collected by Jourdan released on February 20, 2014 follow the same continuous magnetic feature as the above Fleury samples, and appear to show phosphate grades ranging from 3.38% P2O5 to 5.40 % P2O5 (Table 4 and Maps 4 and 5)

 

Table 4 : Analytical Results Of Jourdan Samples on Magnetic Trend

Sample

Fe2O3

MgO

P2O5

TiO2

E5809303

27.20

6.46

4.72

6.15

E5809305

24.60

5.26

4.18

4.90

E5809307

22.40

5.22

3.91

4.72

E5809308

25.80

5.60

4.20

4.90

E5809311

30.70

5.53

3.65

6.44

E5809333

40.30

3.65

3.38

4.91

E5809334

34.20

5.11

4.24

6.26

E5809335

29.60

7.61

5.40

7.01

E5809336

34.50

5.77

3.82

7.83

UTM projection WGS84 Zone 19

 

 

The phosphate potential of the recently acquired claims remains to be tested, and no historical data has been identified to demonstrate that there is or is not any phosphate mineralization on these claims.

 

Map 1: Jourdan Resources’ Dissimieux Lake Phosphate Property on Airborne Magnetics

http://jourdan.ca/pdf/20140715MAP1.pdf

 

 

Map 2: Jourdan Resources’ Dissimieux Lake Phosphate Property Interpreted and Mapped Phosphate Zones

http://jourdan.ca/pdf/20140715MAP2.pdf

 

Map 3: Jourdan Resources’ Dissimieux Lake Phosphate Property Iron-Titanium Historical Sample Locations and Named Zones (blue)

http://jourdan.ca/pdf/20140715MAP3.pdf

 

 

Map 4: Jourdan Resources’ Dissimieux Lake Phosphate Property Phosphate Grab Sample and Drilled Locations

http://jourdan.ca/pdf/20140715MAP4.pdf

 

 

Map 5: Jourdan Resources’ Dissimieux Lake Phosphate recently stake claims (shaded yellow) with historical backhoe trenches (orange)

http://jourdan.ca/pdf/20140715MAP5.pdf

 

Results of Annual and Special Meeting

 

Jourdan Resources is pleased to provide the results of its Annual and Special Meeting of Shareholders held on June 25, 2014 in Mississauga, Ontario.  At the meeting, shareholders voted in favour of all items proposed.  In particular shareholders voted to re-appoint BDO Canada LLP as the Company’s auditor, and elected the Company’s nominees for directors: Michael Dehn, Guy Girard, Réjean Gosselin, Yves Grou, and Maxime Lemieux. Shareholders also re-approved the Company’s Stock Option Plan.

 

Shareholders also voted in favour of authorizing an amendment to the Articles of the Company to i) change the name of the Company to such name as may be approved by the board of directors of the company and ii) file any amended and restated Articles providing for the name change.

 

Finally, shareholders approved the authorization of an amendment to the Articles of the Company to consolidate the issues and outstanding shares in the capital of the Company on the basis of one (1) new common share for up to ten (10) common shares presently issued and outstanding.

 

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.

 

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, CPA, CMA

CFO, Jourdan Resources Inc.

Tel: (647) 477-3758

Fax: (647) 477-2389

glen@jourdan.ca