Jourdan Resources Inc.
TSX VENTURE : JRN

Jourdan Resources Inc.

June 22, 2010 13:25 ET

JOURDAN Discovers up to 3.50% Total Rare Earth Elements Oxides ("TREO's") in Surface Grab Samples on the Lac Baude Rare Earth Elements ("REE's") Property (Quebec)

MONTREAL, QUEBEC--(Marketwire - June 22, 2010) - Jourdan Resources Inc. (TSX VENTURE:JRN) ("JOURDAN" or the "Company") is pleased to announce assay results from the first grab samples taken during the field prospecting program on the Company's Baude Lake REE's Property (the "Property") in the Mauricie region of south central Quebec. Assay results from the first 5 samples taken along a 90 metres strike length of the prospective 800 metres trend are shown in the following table:

GRABSAMPLE #(1) TREO's(2) U3O8
ppm % ppm %
LB-10-01 171 0.02 1 trace
LB-10-02 35,013 3.50 19 trace
LB-10-03 1,425 0.14 73 trace
LB-10-04 11,626 1.16 1,646 0.17
LB-10-05 1,658 0.17 333 0.03

Notes:
(1) Grab samples are by nature selective and are unlikely to represent average grades on the property.
(2) TREO's consists of the REE's Oxides Cerium (Ce2O3), Dysprosium (Dy2O3), Erbium (Er2O3), Europium (Eu2O3), Gadolinium (Gd2O3), Holmium (Ho2O3), Lanthanum (La2O3), Lutetium (Lu2O3), Neodymium (Nd2O3), Praseodymium (Pr2O3), Samarium (Sm2O3), Terbium (Tb2O3), Thulium (Tm2O3), Ytterbium (Yb2O3), plus Yttrium (Y2O3).
Refer to the Quality Assurance and Quality Control section below for the sampling and assaying protocols.

JOURDAN's discovery adds to the list of recent and significant REE's plays in Quebec, which include:

  • Quest Uranium Corporation's Strange Lake REE's Occurrence in Quebec straddling the Quebec-Labrador border adjacent Rio Tinto's Strange Lake REE's-Zirconium-Yttrium-Niobium-Beryllium Deposit yielding historical resources of 52 million tonnes grading 3.25% ZrO2, 0.56% Nb2O5, 0.66% Y2O3, 0.12% BeO and 1.30% Rare Earth Oxides (Quest Uranium Corporation, 2009);
  • The Manitou-Kwyjibo REE's Occurrence located north of Sept-Îles, Quebec (Magrina, Hébert and Corriveau, 2005), where past operators uncovered up to 1.83% Copper, 0.96% Lanthanum-Cerium-Samarium, 0.065% Thorium, 0.044% Uranium and 164 ppb Gold in a 9.5 m channel sample; 0.36% Copper over 16.5 m and 0.88% Lanthanum-Cerium-Samarium over 29.9 m in drill core (Gauthier et al., 2004); and
  • The Kipawa Alkaline Complex of the Témiscamingue region of western Quebec, which yielded a number of Rare Metals occurrences with grab samples yielding up to 5.74% REE's, 0.31% Yttrium and 0.085% Thorium (Aurizon Mines Ltd., 2008).

JOURDAN had recently initiated a prospecting, geological mapping and sampling program on the Property, and will now follow up with a combined airborne magnetic and radiometric geophysical survey. Continued significant results would lead in the near term to diamond drilling, all to determine the full extent of the REE's mineralization.

The Baude Lake REE's Property

The Property consists of 33 mineral claims for 1,934 hectares (or 19.3 km2) located 250 km north-northeast of Montreal and is accessible via logging roads some 45 km northwest of Provincial Highway #155 halfway between Trois-Rivières and La Tuque (Quebec), a 3 hour drive from Montreal. Previous work on the Property has been limited to basic prospecting, 5 short drill holes totalling 62 m in mostly overburden and granitic boulders, and a 3.5 ton bulk sample taken from the main allanite outcrop. Outcrops and boulders containing allanite were uncovered on the Property in the 1890's by government geologist. In 1921 and 1949, prospectors outlined granites containing up to 60% 5 cm by 3 cm allanite crystals in selected samples within a 20 m by 6 m outcrop (MRNFQ Assessment Reports GM 1837 and GM 1883) described in 1949 as a "…granite containing appreciable amounts of allanite…(with) large tonnage possibilities…" (GM 18620).

In 1951 and 1952, a 4 ton hand sorted bulk sample was extracted from a north-south ridge hosting steeply dipping "red granite" in grey gneisses (GM 18621) on the eastern shore of Baude Lake. The granite contained allanite as coarse-grained disseminations and veins up to 6 cm wide linked to small centimetric pockets of allanite. Approximately 170 kg of allanite crystals were removed from the bulk sample and treated separately in the metallurgical test work. The allanite crystals yielded a grade of 9.60% REE's with the remaining 3,400 kg allanite-poor material assayed 0.53% REE's, for a total combined grade of 0.86% REE's.

Short-hole drilling totaling 62 m in 5 holes (GM 15075 and GM 16818, 1964; GM 18175, 1966; GM 20900 and GM 22697, 1967) intersected boulders of granites and gneisses, magnetite-rich sands, clays and ended in bedrock in all but one hole. The granite bedrock from DDH#1 yielded allanite and zircon crystals (GM 15075); whereas magnetite-rich sands and gravels in one of the 1967 drill holes yielded 30% Iron and 1.5% Zircon in a 1.6 m interval (GM 22697).

The allanite occurrence is enclosed in a 12 km long elliptical magnetic anomaly forming a magnetic-high rim and a magnetic-low core within gneisses. The shape of the magnetic anomaly and REE's suggest the presence of an alkaline intrusive complex, unknown until now, but now termed the Baude Lake Intrusive Complex.

The claims were originally purchased from an non-arm's length third party (the "Vendor") for a cash payment of C$5,000 and 500,000 common shares of JOURDAN at C$0.05 per share. The Vendor retains a 2% Net Smelter Returns (the "NSR") Royalty of which half can be purchased by JOURDAN for C$1 million.

REE's and Alkaline Intrusive Complexes

It is a well known fact that alkaline intrusive rocks of both the silicate and carbonate suites have traditionally hosted REE's. Alkaline intrusive complexes generally consist of syenites of the same general composition as granite but with the quartz either absent or present in relatively small amounts. They occur in thick continental crust areas, such as the Canadian Shield, but are not a common rock. The Grenville Geological Province hosts some of the more important occurrences. They tend to occur with carbonatites, and form part of concentrically zoned intrusive complexes with gabbroic rims. Carbonatites contain greater than 50% carbonate minerals, and usually occur as small plugs within the zoned alkaline intrusive complexes, or as dykes, sills, breccias and veins. Dozens of carbonatites are known in Quebec, including Oka, Montviel and St.-Honoré in Quebec.

REE's are used in the high technology fields and have environmental applications. The United States Geological Survey stated in 2002 (USGS Fact Sheet 087-02) that "High technology and environmental applications of the (REE's) have grown dramatically in diversity and applications over the past four decades...substitutes for the (REE's) are inferior or unknown...the (REE's) have acquired a level of technological significance much greater than expected...most of the world's supply comes from only a few sources... more than 90% of (REE's) required by U.S. industry came from deposits in China." Uses of the Rare Metals range from lighter flints and glass polishing; high tech phosphors in energy-efficient fluorescent lamps; fibre-optic cables and lasers; lightweight and high strength magnets used in appliances, audio and video equipments; computers; automobiles in pollution-control catalytic converters; communication systems; military gear; batteries; magnetic refrigeration; high temperature superconductors; and safe storage, and transport, of hydrogen.

From the discovery of the REE's (during the period 1794 to 1907 though the mid-1950's, only a few of the REE's were produced in small amounts from monazite (a Cerium-Lanthanum-Nyodymium-Thorium phosphate) bearing placers and veins, derived from pegmatites and carbonatites, and as minor by-products of Uranium and Niobium extraction. In 1949, a carbonatite intrusion containing 8% to 12% Rare Earth Oxides was discovered at Mountain Pass (California) with a total reserve of 20 million tonnes at an average grade of 9.3% rare-earth oxides. From 1965 to 1985, Mountain Pass was the dominant source of REE's. Since 1985, the main supplier of the world's REE's is China, chiefly from two sources: the Bayan Obo Iron-Niobium-REE's Deposit (40 million tonnes grading 3% to 6% Rare Earth Oxides, and Lanthanum-Yttrium-Neodymium ores in lateritic weathering crusts developed on quartz-rich (granites) and quartz-poor (syenites) rocks in tropical China. With China currently producing 97% of the world's REE's requirements and steadily imposing export quotas, non-China consumers (Japan, Korea, Thailand and North America) are looking for alternative, stable supplies.

Sampling Protocols, Quality Assurance and Quality Control

Grab samples consist of 2-2.5 kg samples that were bagged, tagged and sealed on-site. Samples were transported by JOURDAN personnel to the ALS Group laboratory facilities in Val-d'Or (Quebec) for sample preparation, and shipped to the ALS facility in North Vancouver (British Columbia) for assay using the multi-element mass spectrometer (38-element ME-MS81 method). In Val-d'Or, samples were weighed, dried and crushed 70% to under 2 mm; a 250 g split was pulverized 85% to under 75 um; and bagged for shipment and assay to North Vancouver. Blanks and standards were inserted by the laboratory in the sample stream prior to assaying.

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 sectors of eastern Canada. The Company's properties are currently at the exploration stage along Quebec's North Shore region, and now REE's in the Mauricie region of south central Quebec.

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.

The technical information in this news release was prepared, reviewed and approved by Mr. Jean Lafleur, M. Sc., P. Geo., Senior Technical Consultant to JOURDAN, and a Qualified Person under NI 43-101 regulations.

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

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