Jourdan Resources Inc.
TSX VENTURE : JRN

Jourdan Resources Inc.

August 11, 2009 08:00 ET

JOURDAN Acquires Strategic Claims Hosting Between 9 and 10 Million Pounds of U3O8 in Potential Resources From the Lower North Shore Uranium Belt in Quebec

MONTREAL, CANADA--(Marketwire - Aug. 11, 2009) - Jourdan Resources Inc. (TSX VENTURE:JRN) ("JOURDAN" or the "Company") (please visit the Company's website at www.jourdan.ca or at info@fcusrelations.com; download Jourdan's Corporate Summary from www.jourdan.ca/jrn.pdf) is pleased to announce the acquisition of strategic Uranium mineral claims, the Baie Johann-Beetz Property (the "Property") from the Lower North Shore Uranium Belt of Quebec.

The Property consists of 32 mining claims, including the original 8 claims of the South and North blocks, totaling 1,800 hectares (18 km2). The registration of the claims by the Quebec government is still pending, but should be confirmed shortly. The South and North Claim Blocks are located 5 km and 8 km north-Northeast of Kilometre 1312 on Provincial Highway #138 (linking Montreal to Natashquan) some 25 km due East of the community of Baie Johann-Beetz.

The Property is also located 28 km East of Uracan Resources Inc. (TSX VENTURE:URC) ("Uracan") Uranium occurrence hosting 154.9 million tonnes at an average grade of 0.012% (0.24 lbs/ton) U3O8 in the Inferred category.

Historic trenching and shallow diamond drilling on the Property to a maximum -50 m depth in the 1960's and 1970's identified two 400 m to 500 m long Uranium corridor, one of which the Drucourt Zone contains between 9 and 10 million pounds of U3O8 in Potential Resources(i) (Minorex, 2006; and table below). JOURDAN is preparing a field program to validate the historic work, outline the full potential of the known uranium mineralization and identify new uranium discoveries on the Property. The Lower North Shore Uranium Belt contains three historic(ii) and one current mineral resource estimates, and one Potential Resources(i) for the Drucourt Zone located in JOURDAN's South Claim Block.

The table is available at the following address: http://media3.marketwire.com/docs/JOURDAN3.pdf

The Lower North Shore Uranium Belt and the Baie Johann-Beetz Property

The Property sits in the Lower North Shore Uranium Belt within the Grenville Geological Province (the "Grenville"). Certain parts of the Grenville have attracted the attention of companies engaged in uranium exploration, such as the Wakeham Sedimentary Basin (the "Wakeham") and the granitic Turgeon Lake Intrusive Complex (the "TLIC"). The Property is located at the eastern extremity of and the region outside the Wakeham where several uranium occurrences are documented from previous exploration campaigns. This eastern segment is characterized by gneisses, amphibolites, and granites. The granites are divided into several varieties including coarse grained pegmatites that tend to show higher and more uniform radioactivity

North Shore Uranium (E. Seguin, pers. comm., 2009) completed an airborne scintillometer survey in 1968, along the eastern extremity of the Wakeham. The survey outlined the northeast trending faults believed to be uranium carriers. Based on the survey, Lesseps Mining in 1968 trenched and rock sampled delineating a zone of uranium mineralization in the current JOURDAN South Claim Block, the Drucourt Zone. Here, the Uranium zone varied from 40 m to 150 m wide and was investigated over a 500 m length. Uranium grades in the trenches were approximately 0.025% (0.5 lbs/ton) U3O8. Both uraninite and uranophane were identified. Rouanda Mining followed in the 1970's and identified uranium in pegmatites some 3 km to the NE of the Lesseps Mining uranium mineralization within the current JOURDAN North Claim Block. Mineralization here was outlined in a number of zones with the "A-A1" Zone being the most continuous extending over a 400 m interval and containing grades just under 0.013% (0.26 lbs/ton) U3O8.

Drilling by Placer Canex and Placer Development in 1976 and 1978 and Rouanda Mining in 1977 and 1979 in the South and North Claim Blocks, respectively, was able to confirm the earlier surface work, and establish continuity of the Uranium mineralization. On the South Claim Block, drill results included 0.015% (0.3 lbs/ton) U3O8 over 37.2 m in D-76-2; 0.023% (0.46 lbs/ton) U3O8 over 33.0 m in D-76-5, including 0.059% (1.12 lbs/ton) U3O8 over 6.9 m; 0.037% (0.74 lbs/ton) U3O8 over 20.1 m in D-76-6, including 0.181% (3.62 lbs/ton) U3O8 over 3.0 m; and 0.011% (0.22 lbs/ton) U3O8 over 45.4 m in D-76-12. On the South Claim Block, Uranium results from drill holes RL-78-7 and 9 (with continuous sampling even in the host lithologies outside the pegmatites) gave 0.007% (0.0.14 lbs/ton) U3O8 over 41.93 m in RL-78-7, and RL-78-9 gave 0.005% (0.1 lbs/ton) U3O8 over 50.78 m. Drilling showed radioactivity in the host gneisses and granites; for example, 33% of the core in drill hole RL-78-7 and 10% in drill hole RL-78-9 are non-pegmatite lithologies.

Uranium Concentration maps from publicly available and recent airborne geophysical surveys in the region outline a series of "staircase" Uranium anomalies encompassing the Drucourt Zone of the South Claim Block, as well as the North Claim Block, part of a 9 km long Northeast trend.

Mr. Emilien Seguin, President and CEO of JOURDAN stated, "Recent work on the Lower North region of Quebec has shown a significant uranium potential with grades in the range of 0.01% to 0.03% (0.2 lbs/ton to 0.6 lbs/ton) U3O8. JOURDAN will focus on diamond drilling to validate and increase the Potential Resources(i) of 17 to 18 million tonnes grading 0.024 to 0.026% (0.48 to 0.52 lbs/ton) U3O8 on the Drucourt Zone, and if successful to fully delineate the resources potential over the multi-kilometric trend. The target would be a high tonnage and low grade uranium".

JOURDAN has retained Mr. Jean Lafleur, M. Sc., P. Geo., a Mineral Exploration Consultant and Qualified Person according to National Instrument ("NI") 43-101, to prepare an independent Technical Report (the "Report") on the geology and uranium potential of their recently acquired Property. Mr. Lafleur has worked on a number of Uranium projects from the North Shore and James Bay mining districts. The Report is slated for completion in Q3-2009.

In other news, the Directors of the Corporation have approved the granting of a total of 1,650,000 stock options to the Directors and Officers of the Corporation: Marc Labrecque (450,000), Emilien Seguin (350,000), Guy Girard (250,000) and Andre E. Audet (100,000) and one (1) consultant (500,000). Each option entitles to acquire one (1) common share at a price of $0.10 per share until August 1, 2011 for the consultant and until August 1, 2012 for the Directors and Officers of the Corporation. These options are subject to Exchange approval and subject to a four (4) month hold period following their date of grant.

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 sectors of eastern Canada. All of the Company's properties are currently at the exploration stage in Quebec's North Shore region.

The technical information in this news release was prepared, by Mr. Jean Lafleur, M. Sc., P. Geo., Senior Technical Consultant to JOURDAN. Mr. Emilien Seguin, President of JOURDAN, approved the content of this news release. Both individuals are Qualified Persons under NI 43-101 regulations.

(i)Potential Resources outline the potential quantity and grade of the mineralization, is conceptual in nature, and should only be considered has an indication of the uranium mineralization. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the discovery of a mineral resource. A Qualified Person has not done sufficient work to classify the mineral resource estimates as current mineral resources.

(ii) Historic mineral resource estimates are non-compliant to National Instrument ("NI") NI 43-101 Mineral Resources and Mineral Reserves Standards, and should therefore not be relied upon, but should only be considered has an indication of the uranium mineralization. A Qualified Person has not done sufficient work to classify the mineral resource estimates as current mineral resources, and there is no evidence that any of the historic resources could be converted to NI 43-101 compliant Mineral Resources. The estimate numbers are subject to rounding following the recommendations in NI 43-101.

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.

Contact Information

  • Jourdan Resources Inc.
    Emilien Seguin
    President and CEO
    450-670-5224
    514-787-1457 (FAX)
    or
    Jourdan Resources Inc.
    Guy Girard
    VP Finance and Director
    514-798-1290
    514-787-1457 (FAX)
    www.jourdan.ca