Jourdan Receives Compiled, Levelled and Stitched High Resolution Airborne Magnetic Surveys at Dissimieux Lake Phosphate Property
June 12, 2014 (Source: FSC Wire) — JOURDAN RESOURCES INC. (TSX-V: JOR) (“JOURDAN” or the “Company”) (www.jourdan.ca) is pleased to announce that it has completed a compilation of historical airborne geophysical surveys on its 100% owned Dissimieux Lake Phosphate Property, in the Province of Québec, Canada.
The airborne surveys include recently published Quebec Ministry of Natural Resources levelled airborne magnetic survey map set (DP 2012-03) as well as several airborne surveys filed for assessment work by public companies from 1998 through 2013. Surveys used as part of the compilation included information from reports GM58061 (Outokumpu Mines Limited), GM65422 (Argex Silver Capital Inc.), GM67495 (Nevado Resources Inc.), GM 66091 (St-Georges Platinum & Base Metals Ltd.), and GM66599 (Vale Exploration Canada Inc.). These surveys were designed to test for Fe-Ti and Ni-Cu-PGE mineralization. The association of these styles of mineralization, and their proximity in the layered ultramafic intrusives has provided Jourdan with datasets that have not been previously evaluated for phosphate mineralization. With the growing knowledge Jourdan has at Dissimieux Lake, this compiled, levelled and stitched dataset, all completed by Paterson Grant & Watson Ltd. (PGW), provides a valuable exploration tool for Jourdan to use to validate current exploration models for phosphate mineralization and plan future exploration.
Based on recent and historical mapping and sampling, completed by Jourdan, previous companies working in the area, as well as sampling by the Quebec Ministry of Natural Resources, the compiled airborne magnetics demonstrate a series of sub-parallel magnetic highs that generally trend south-west to north-east towards the La Blache Anorthosite (see Map 1) that host the Hervieux East, Hervieux West, and Farrell-Taylor Deposits. This strong trend is disrupted in the northern area of the Dissimieux claims where the magnetic trends are dislocated and the magnetic highs trend north to south for a 5 to 10 km distance before apparently joining the La Blache Anorthosite, or running parallel to the magnetic highs within.
The magnetic highs are concurrent with surface mineralization that has been sampled and or mapped at the Dissimieux Lake Phosphate Project as well as with drill hole intersections of mineralization. The magnetics have been used in conjunction with all sampling; drilling and surface mapping to produce a map of known and interpreted phosphate rich zones (see Map 2) It appears that some of the highest grade phosphate results received to date come from the area of disruption where the magnetic trends become north-south trending.
Based on the compiled magnetics and the current sample density, several new target areas have been identified and will be sampled and mapped in the future. The location of samples and drilled areas relative to the magnetics can been seen on Map 3.
“Dissimieux Lake has a very large phosphate footprint, with mineralization found on surface over many kilometres” states Jourdan President and CEO Michael Dehn. “These zones potentially run continuously for more than 30 km in strike length as seen on the maps.”
Get our daily investorintel update
“This newly compiled data provides the Jourdan team with excellent data for future exploration planning” states Jourdan VP Exploration Stephen Wallace. “Our near term goals are to complete additional drilling that would allow the generation of a meaningful 43-101 resource calculation on the property, as well as to follow up on higher grade surface phosphate mineralization sampled in the fall of 2013.”
Map 1: Jourdan Resources’ Dissimieux Lake Phosphate Property on Compiled Airborne Magnetics
Map 2: Jourdan Resources’ Dissimieux Lake Phosphate Property – Mapped and Interpreted Phosphate Zones
Map 3: Jourdan Resources’ Dissimieux Lake Phosphate Property – Published Sampled Areas
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.
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>