JOURDAN Update on the 3,000 Metre Winter Drilling Campaign at the 9 to 10 Million Pound Drucourt Uranium Zone on the Baie Johann
12 December 2009 - 12:00AM
Marketwired
Jourdan Resources Inc. (TSX VENTURE: JRN) ("JOURDAN" or the
"Company") (www.jourdan.ca) wishes to update shareholders on the
progress of the Company's 3,000 m winter diamond drill campaign at
the Company's prospective Drucourt Uranium Zone on the Baie
Johann-Beetz Property (the "Property"), located 25 km due
east-northeast of the community of Baie Johann-Beetz along
Provincial Highway #138 linking Montreal to Natashquan (Quebec).
Highlights:
- Jourdan has now completed a 5 km winter access road from
Provincial Highway #138 to the South Claim Block of the Property
that also included access to the main drill sites located in the
area of the Potential Resources;
- the construction of an on-site core logging facility; and
- the drill, drilling equipment and fuels are now mobilized to
the site, and the drilling should start in early January 2010.
Funds have already been raised (refer to the Company news
release date October 22, 2009) to complete the entire winter
drilling campaign.
The Baie Johann-Beetz Uranium Property
The Property consists of 32 mining claims, including the
original 8 claim North and South Claim Blocks, totaling 1,800
hectares (18 km2). The South and North Claim Blocks are located 5
km and 8 km north-northeast of Kilometre 1312 on Provincial Highway
#138. Historic trenching and shallow diamond drilling on the
Property to a maximum -50 m depth in the 1960's and 1970's
identified two 500 m long Uranium corridor, one of which the
Drucourt Zone contains between of 17 to 18 million tonnes grading
0.024 to 0.026% (0.48 to 0.52 lbs/ton) U3O8 for 9 to 10 million
pounds of U3O8 in Potential Resources (Minorex, 2006). Potential
Resources outline the potential quantity and grade of the
mineralization. It is not a recognized Mineral Resources category;
it is conceptual in nature, and should only be considered has an
indication of the uranium mineralization. There has been
insufficient exploration to define a mineral resource and it is
uncertain if further exploration will result in the discovery of a
mineral resource. A Qualified Person has not done sufficient work
to classify the mineral resource estimates as current mineral
resources.
The Property is strategically situated within the Lower North
Shore Uranium Belt of Quebec, a major Uranium bearing corridor that
also hosts Uracan Resources Inc. (TSX VENTURE: URC) ("Uracan")
North Shore Uranium Project. Uracan has already outlined current
Inferred Mineral Resources of 154.9 million tonnes at an average
grade of 0.012% (0.24 lbs/ton) U3O8 for 40 million pounds of U3O8
in the "Middle" and "TJ" Zones (www.sedar.com). The Property is
enclosed by Uracan's North Uranium Shore Property with the "Middle"
and "TJ" Zones located 28 km to the west.
JOURDAN's strategy is focused on proving up higher quality
Uranium resources on the Property, as it initially aims at
validating and doubling the current 9 to 10 million pounds of U3O8
to at least 20 million in National Instrument ("NI") 43-101
compliant Mineral Resources, and if successful eventually delineate
the Uranium mineralization over the multi-kilometric trend as a
high tonnage, low grade Uranium mineral resource.
The 3,000 m initial winter drilling campaign on the Property
consists of (1) twinning of 1970's vintage drill holes within the
original 500 m strike length of the Drucourt Zone to confirm and
validate historic grades and continuity; and (2) extending the
Drucourt Zone mineralization over an initial 2,000 m strike
length.
About Jourdan Resources Inc.
Jourdan Resources Inc. is a Canadian junior mining exploration
company trading under the symbol JRN 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 bulk mineable industrial metals (such as
Uranium and REE's) sectors of eastern Canada. All of the Company's
properties are currently at the exploration stage in Quebec's North
Shore and Mauricie regions.
Visit the Company's website at www.jourdan.ca. You can download
Jourdan's Corporate Summary from www.jourdan.ca/jrn.pdf.
The technical information in this news release was prepared, by
Mr. Jean Lafleur, M. Sc., P. Geo., Senior Technical Consultant to
JOURDAN. Mr. Emilien Seguin, President of JOURDAN, approved the
content of this news release. Both individuals are Qualified
Persons under NI 43-101 regulations.
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."
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.
Contacts: Jourdan Resources Inc. Emilien Seguin, President and
CEO 450-670-5224 514-787-1457 (FAX) Jourdan Resources Inc. Guy
Girard, VP Finance and Director 514-798-1290 514-787-1457 (FAX)
info@jourdan.ca
Jourdan Resources Inc. (TSXV:JRN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Jourdan Resources Inc. (TSXV:JRN)
Historical Stock Chart
From Jul 2023 to Jul 2024