Jourdan Acquires 100% of Picnic Phosphate Property, Near Port Cartier, Quebec
April 17, 2014 (Source: FSC Wire) — JOURDAN RESOURCES INC. (TSX-V: JOR) (“JOURDAN” or the “Company”) (www.jourdan.ca) is pleased to announce that it has acquired 100% interest in the 11.6 square kilometre Picnic Phosphate Property (or, “Picnic”), composed of 21 claims in two blocks and located approximately 20 km west of the town of Port Cartier. The Picnic Phosphate Property is within 2 km of Hydro Quebec’s power line grid and highways. The active deep water port of Port Cartier is approximately 20 km north east of the Picnic Phosphate Property (see Map 1).
The Picnic property was staked by Jourdan as part of an ongoing program of data compilation and targeting of historical geological information provided by the Quebec government through Sigeom (Système d’information gÉominière du QuÉbec). The Company’s target has been the phosphate potential of the Grenville geological province on St. Lawrence North Shore Region between Saguenay and Sept–Îles Quebec.
From the Sigeom database a total of 14 surface samples (see table 1) were found related to the newly staked Picnic claims. The surface samples below indicate the area has been previously targeted for not only the phosphate, iron and titanium potential, but also the copper, nickel and cobalt potential. The most significant phosphate sample listed in the Sigeom database of the Picnic claims is sample 1983008458 which assayed 4.61% P2O5 collected in 1983 as part of a Ministere de l’Energie et des Ressources Quebec study of the area. It should be noted that Jourdan has not yet ground verified any of the values or locations shown in table and maps below. This ground verification will be part of planned future exploration.
|Table 1. Surface sample information from Sigeom located on Picnic claims|
|Coordinates in UTM NAD83 Zone 19|
|Sigeom = Système d’information gÉominière du QuÉbec|
“Jourdan continues to target and consolidate low risk and high potential value phosphate properties along the north shore of the St. Lawrence River between Saguenay and Sept–Îles, Quebec. The close proximity of the nickel and copper values at Picnic is similar to some of the zones observed at the Jazz, Dissimieux Lake and Cache Phosphate properties. This has consistently been an exploration tool used for targeting acquisitions as there historically has been more nickel-copper exploration in the region versus phosphate exploration” states Stephen Wallace, VP Exploration. “We continue to work on advancing our current phosphate projects, but when there is an opportunity to stake a project like Picnic, it becomes an opportunity for significant potential upside for our shareholders.”
Map 1: Jourdan Resources’ Picnic Phosphate Property, Quebec
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Map 2: Jourdan Resources’ Picnic Phosphate Property, Quebec
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.
Please visit the Company’s website at www.jourdan.ca
Neither 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 news release.
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>