Further to its press release dated
C$100,000 ;- 2,040,816 common shares of the Company at a deemed price of
$0.0735 per share (the “Payment Shares”); and - a 2% net smelter return royalty affecting the First Claims payable to the vendor, half of which Jourdan is entitled to repurchase prior to the commencement of commercial production for
$1 million (indexed to Canadian inflation as represented by the consumer price index).
The Payment Shares are subject to a regulatory hold period of four months and one day expiring
Figure 1 – Location of Jourdan Projects – Vallee Lithium Trend
The six mineral claims comprising the First Acquisition total 81.29 hectares and were acquired to fill a gap in claim ownership within the Company’s current East Vallée property. These new claims cover an important segment of the southeastern extension of the Vallée lithium trend, a 30 km long belt along the north end of the prospective LaCorne Batholith that hosts several known lithium showings and an active lithium mining operation. These new claims are located immediately southeast of and along strike of Sayona Mining Limited’s majority owned North American Lithium (“NAL”) mining operation and Jourdan’s own Vallée property, a portion of which is the subject of a joint venture agreement with NAL (the “Joint Venture Property”. The Company has drill-defined lithium mineralization in pegmatites in 2021 and 2022 on and around the Joint Venture Property (see Figure 2). The Company intends to add the newly acquired claims to its 2023 summer East Vallée exploration program. Despite the location of the claims along the Vallée Lithium Trend, there is only one known drill hole on the acquired claims. The First Claims are located just east of the location of the planned 2023 drill holes to be completed this summer by the Jourdan-NAL Joint Venture. For more information about the joint venture, please see the Company’s press release dated
Five other mineral claims totalling 251.94 hectares were also acquired in another acquisition (the “Second Acquisition”) that are located within gaps within or adjacent to Jourdan’s 100% owned
Pursuant to the agreement respecting the Second Acquisition, the Company paid the vendors
I am thrilled that we were able to secure additional claims covering the key strategic sections of the prolific Vallée Lithium Trend. As we continue to explore lithium mineralization southeasterly from the NAL mine property, across our Vallée joint venture project and onto our East Vallée property, we expect these new acquisitions will soon become important assets for the Company. In addition to being excellent acquisitions and likely prospective in their own right, we anticipate that our New Athona showing will help the Company also more efficiently vector exploration efforts on where the Vallée Lithium Trend crosses the northern end of the
Qualified Person
The scientific and technical information contained herein has been reviewed and approved by
About
Jourdan is a Canadian junior mining exploration company trading under the symbol “JOR” on the
For more information:
Email: info@jourdaninc.com
Phone: (416) 861-5800
www.jourdaninc.com
Cautionary Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the scope and expected results of the Company’s summer 2023 exploration program and the Company’s ability to execute its business plan. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Jourdan to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages and other risks of the mining industry. Although Jourdan has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Jourdan does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
Figure 2 - Location of First Acquisition Claims
Figure 3 - Location of Second Acquisition Claims
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a9a597d3-933f-4da6-be83-4c95a2705196
https://www.globenewswire.com/NewsRoom/AttachmentNg/594e51c2-51f9-44f2-b627-4eac3a9c1686
https://www.globenewswire.com/NewsRoom/AttachmentNg/75ccb99a-4831-402b-9913-ed67e950d9c8
Figure 1
Location of Jourdan Projects – Vallee Lithium Trend
Figure 2
Location of First Acquisition Claims
Figure 3
Location of Second Acquisition Claims
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