Jourdan Resources Inc.
TSX VENTURE : JOR

Jourdan Resources Inc.

October 21, 2010 08:00 ET

JOURDAN Acquires 21 Additional Strategic Claims Contiguous to its New Recent Discovery Zone With Assays Up to 1.88% Li2O (Lithium Oxide)...

...in Surface Grab Samples on the Pivert-Stairs Rare Metals Property, James Bay Mining District (Quebec)

MONTREAL, QUEBEC--(Marketwire - Oct. 21, 2010) - JOURDAN RESOURCES INC. (TSX VENTURE:JOR) ("JOURDAN" or the "Company") is pleased to announce the acquisition of 21 claims totalling 1,114 hectares for 11.1 km2 (the "New Claims"), adding to the 94 claims already owned by the Company known as the Pivert-Stairs Rare Metals Property (the "Property") in the Eastmain Greenstone Belt (NTS Map-Sheet 33C/01) of the James Bay Mining District of Quebec, located due south of the community of La Grande (refer to the JOURDAN news release dated January 27, 2010).

JOURDAN now holds 114 claims for 6.047 hectares or 60.47 km2 covering the 12+ km long prospective Pivert Rare Metals Corridor (refer to the appended location map). The Property sits less than 5 km from the Eastmain-1 Hydroelectric facility where substantial infrastructure exists. There is an access road to within 500 m of the Lac Pivert East #1 and #2, and the Lac Pivert West Claim Blocks. A north-south hydro line straddles the Lac Pivert West Claim Block.

Mr. Émilien Séguin, President and CEO of JOURDAN states, "We are pleased to have taken a significant land position contiguous to our new discovery zone located in Pivert-Stairs Rare Metals Corridor in the James Bay Mining District. The acquisition fits JOURDAN's strategy of acquiring Uranium and Rare Metals or High Technology Metals ("HTM's") sectors of eastern Canada.

The Pivert Rare Metals Corridor

First Gold previously announced surface sampling and diamond drilling results on contiguous ground with significant quantities of the Rare Metals Lithium, Rubidium, Tantalum, Beryllium, Niobium, Cesium and Gallium. Surface grab sampling 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); and in drilling up to 21.45 m (true width) yielding 1.22% Li2O, 2,983 g/r Rubidium, 206 g/t Ta2O5, 139 g/t Beryllium, 117 g/t Cesium and 78 g/t Gallium (LR-10-75). Mineralization occurs at surface in near horizontal spodumene-bearing intrusives. The company recently announced the discovery of additional showings and is slated to release compliant Mineral Resources for their property by year end (www.firstgoldexploration.com).

Earlier work by the Ministère des ressources naturelles et de la faune Québec (Boisvert, 1989) describes the Property area as containing irregular but generally continuous lenses of pegmatites within the host 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 uncovered a number of Lithium showings in the region with a similar metallogenic context to Lithium One's Cyr Lithium Property and First Gold's Pivert/Rose Rare Metals Property, where irregular but generally continuous spodumene (a lithium bearing aluminum silicate) bearing pegmatites occur.

Historical work on Cyr Lithium Property, located 75 km northwest of the Property, has demonstrated significant Lithium potential, identifying a resource potential* 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.

The New Claims were bought from arm's length parties (the "Vendors") by issuing 225,000 common shares of JOURDAN. The Vendors retains a 2% Net Smelter Returns (the "NSR") Royalty, of which 1% may be purchased by JOURDAN for $1 million. The agreement is subject to final approvals from regulatory authorities. There is a Finder's Fee of 22,500 common shares of the Company paid out to an arm's length party.

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 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.

Location map of the New Claims contiguous to the Pivert East #1 and #2 Claim Blocks in the James Bay Mining District of northern Quebec is available at the following address: http://media3.marketwire.com/docs/jourdan.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.

Contact Information

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