Jourdan Resources Inc.
TSX VENTURE : JOR

Jourdan Resources Inc.

November 09, 2010 08:00 ET

JOURDAN Adds 160 Strategic Mineral Claims to the Lac Baude Rare Earth Elements Property (Quebec)...

...Where the Company Previously Discovered up to 3.50% Total Rare Earth Elements Oxides in Surface Grab Samples

MONTREAL, CANADA--(Marketwire - Nov. 9, 2010) - Jourdan Resources Inc. (TSX VENTURE:JOR) ("JOURDAN" or the "Company") is pleased to announce the acquisition via claim staking of 160 strategic mineral claims (the "New Claims") totalling 8,480 hectares (or 84.8 km2), adding to the 33 claims already owned by the Company, at the Baude Lake Rare Earth Elements ("REE's") Property (the "Property") in the Mauricie region of south central Quebec. Jourdan now hold 193 claims for 10,230 hectares or 102.3 km2.

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 at the Baude Lake REE's Property. The acquisition fits JOURDAN's strategy of acquiring Rare Metals or High Technology Metals ("HTM's") sectors of eastern Canada."

JOURDAN had taken five grab samples along a 90 metres strike length of a prospective 800 metres trend during the 2010 field prospecting program on the Property. Assay results yielded 0.02% to 3.50% Total Rare Earth Oxides ("TREO's") with up to 0.17% U3O8 (refer to the JOURDAN news release dated June 22, 2010).

JOURDAN's discovery added to the list of recent and significant REE's plays in Quebec, which includes the 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 Rare Minerals, 2010). Drilling intersected multiple, higher grade intersections of between 1.13% and 6.08% TREO over widths of 1.18 m and 191.3 m. Current Inferred Mineral Resources stand at 114.8 million tonnes grading 0.999% TREO's (43% are Heavy Rare Earth Oxides or HREO's), 1.973% ZrO2, 0.208% Nb2O5 and 0.082% BeO (Quest Rare Minerals Ltd., 2010); 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, and drilling with results in the range of 0.06% Total Rare Earth Elements ("REE's") over 60 m to 100 m (Aurizon Mines Ltd., 2010).

The Baude Lake REE's Property

The Property consists of 193 mineral claims for 10,230 hectares (or 102.3 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…" (MRNFQ Assessment Report 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 (MRNFQ Assessment Report 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 (MRNFQ Assessment Reports 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 (MRNFQ Assessment Report 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 (MRNFQ Assessment Report 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 "Complex"). The Property now cover the entire the Complex.

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.

About Jourdan Resources Inc.

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, 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 now the James Bay regions of 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

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