Jourdan Completes Acquisition of Jazz Phosphate Property Adjacent to Arianne Phosphate
January 22, 2014 (Source: FSC Wire) — Jourdan Resources Inc. (JOR – TSX Venture), (“Jourdan” or the “Company”) (www.jourdan.ca)is pleased to announce that it has made the final option payment on the Company’s Jazz Phosphate Project, per the January 17, 2012 Option Agreement with the Vendors, bringing Jourdan’s interest in the Project to 100% (with no royalties).
This final option payment was settled in shares, through the issuance of 2,083,334 Jourdan shares to the Vendors.
All securities issued in connection with this transaction are subject to a four-month and a day hold period ending May 18, 2014.
The Jazz Phosphate Project is one of the flagship projects of Jourdan Resources.
On January 17, 2012, the Company optioned the 53 claim Jazz Phosphate Property located approximately 200 km north of the town of Saguenay in the Saguenay Lac-St-Jean region in the Province of Quebec, Canada. The Jazz Property is a total of 2,952 hectares and is contiguous with Arianne Phosphate’s Lake Paul Advanced Stage Phosphate Project, and the latter has:
* Proven and Probable Mineral Reserves of 472.1 million tonnes at an average grade of 6.9 P2O5
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* Planned annual production rate of 3 million tonnes of 38.6% P2O5 apatite concentrate
* 25.75 year mine life with average operating cost of $94/ tonne of concentrate (FOB Saguenay Port)
* Pre-tax IRR of 20.7% and pre-tax NPV of $1.910 billion (@ 8%) based on P2O5 price of $213/t
(Source: Arianne Phosphate Inc.; all financial figures are in $US)
The Company previously announced on April 25, 2013 the completion of a ground magnetometer survey on Jazz. This 34 kilometer magnetometer survey was designed to cover highly prospective areas originally outlined with airborne geophysics and prospecting. The full April 25, 2013 press release can be found at: http://jourdan.ca/uploads/173.pdf. Previously reported results of reconnaissance grab samples on the property can found in the Company’s June 12, 2012 press release: http://jourdan.ca/uploads/155.pdf.
Map 1: Jazz Phosphate Property adjacent to Arianne Phosphate’s Lac A Paul Deposit, on airborne magnetics
Map 2: Jourdan Resource’s Jazz and Dissimieux Lake Phosphate Projects on airborne magnetics
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.
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, and development of mining properties in phosphates.
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.
Although the Company believes many of its properties have promising potential, its properties are in the early stages of exploration. None have yet been shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on any property, or that, if identified, any mineralization may be economically extracted.
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 statement.
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>