Jourdan Acquires 100% of Hache Phosphate Property, Near Saguenay, Quebecadmin
Jourdan Acquires 100% of Hache Phosphate Property, Near Saguenay, Quebec
* 100% interest in 155-claim, 87 sq. km Hache Phosphate Property, no royalties
* Main claim block contiguous with the Moose Lake Project of Glen Eagle Resources
* Hache Property is claims are located 10 km due west and 12 km due east of La Hache-Est Property with historic resource of 20.32 Mt at 5.21% P2O5, 24.75% Fe and 5.12% TiO2
Val d’Or, Quebec CANADA, October 31, 2013 /FSC/ – Jourdan Resources Inc. (JOR – TSX Venture),(“JOURDAN” or the “Company”) (www.jourdan.ca) is pleased to announce that it has acquired 100% interest in the 87 square kilometre Hache Phosphate Property (or, “Hache”), composed of 155 claims and located 500 km north the town of Saguenay, 20 km west of Jourdan’s Cache Phosphate Property, and contiguous with Glen Eagle Resources Moose Lake Property in the Province of Quebec, Canada. The Hache Phosphate Property is10km due west and 12 km due east of the La Hache-Est historic resource (see Map 1).
To acquire the Hache Phosphate Property, Jourdan will issue 600,000 shares within 5 days of the TSX Venture Exchange’s approval. No additional consideration is being paid for the acquisition, and there are no royalties on the properties.
The Hache Phosphate Properties are 10 km due west and 12 km due east of the La Hache-Est historic resource (see Map 1). 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) 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.
Map 1: Jourdan Resources’ Hache Phosphate Property, Quebec
The northeast claims of the Hache Phosphate Property are contiguous with the Moose Lake Project of Glen Eagle Resources, with part of the Hache Phosphate Property surrounded by the Moose Lake Project claims on the north, east and south. The Hache Phosphate Property is within 5 km of the drilling on the Lac Original Zone on the Moose Lake Project. Previous significant results released by Glen Eagle Resources on the Lac Original Zone are shown in the table below:
Table 1: Significant Results from Glen Eagle Resources Moose Lake Project, adjacent to Jourdan’s Hache Phosphate Property (all results have been previously released by Glen Eagle Resources)
Hole From To Length P2O5 Release
(m) (m) (m) (%) Date
LO1203 13.5 84.0 70.5 4.7 20120523
LO1208 3.5 57.5 54.0 5.4 20120731
LO1209 3.5 102.0 98.5 3.9 20120808
LO1212 4.0 68.5 64.5 5.3 20120808
LO1210 45.5 105.0 59.5 5.1 20120918
LO1211 10.9 102.0 91.1 3.8 20120918
LO1213 4.0 80.0 76.0 5.7 20120918
LO1213 16.0 80.0 64.0 6.1 20120918
LO1217 3.6 62.1 58.5 5.0 20120918
LO1224 4.5 76.5 72.0 5.4 20130204
LO1236 39.0 93.0 54.0 5.4 20130204
LO1238 43.5 102.0 58.5 6.0 20130204
Map 2: Jourdan Resources’ Phosphate Properties’ proximity to each other and relative to neighbouring Phosphate Properties in the region.
The Hache Phosphate Property is 20 km due west of Jourdan’s Cache Phosphate Property. Although the Lac Hache Phosphate Property has not been explored for phosphate historically, recent airborne geophysics indicated narrow very magnetic rock units, similar in geophysical response to the Cache, Sault Au Cochons and Lac Catherine Phosphate properties. Jourdan’s previous success at Dissimieux Lake have aided in developing a more regional phosphate exploration model that has led to these recent property acquisitions by the Company.
Map 3: Location of Jourdan’s Phosphate Properties in relation to Southern Quebec and the East Coast of Canada.
“Jourdan continues to target and acquire properties that are foundation building in a regional phosphate production model with the idea of using a central production facility for many properties”, states Michael Dehn, Jourdan’s President and CEO. “By looking at surface zones of phosphate mineralization and areas relatively close to infrastructure we feel this model opens up the North Shore for phosphate exploration from Saguenay to Sept-Isles.”
Jourdan continues to target and consolidate low risk and high potential value phosphate properties along the north shore of the St. Lawrence River near Baie Comeau, Quebec. The results reported by Arianne for its Lac A Paul Feasibility Study, as well The Mine Arnaud partnership owned by Investissement Quebec (a Crown corporation), and Yara International ASA (a Norwegian company), demonstrate that large economic phosphate deposits in the region where Jourdan operates is not a unique occurrence. In the map below, the location of the Mine Arnaud partnership as well as the Lac A Paul Property are displayed relative to the location of communities along the St. Lawrence River in Quebec and Jourdan’s Quebec phosphate projects.
Completion of the acquisition remains subject to TSXV approval. The securities of the Company to be issued on acquisition will be subject to a four month hold period.
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:
President and CEO, Jourdan Resources Inc.
Tel: (647) 477-2382
Fax: (647) 477-2389
Glen Wylie, CMA
CFO, Jourdan Resources Inc.
Tel: (647) 477-3758
Fax: (647) 477-2389
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.
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Source: Jourdan Resources Inc. (TSXV: JOR) http://www.jourdan.ca
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Posted: October 31st, 2013 under FSCWIRE.