Jourdan Resources Inc. (TSX VENTURE: RN)(FRANKFURT: NSV)(WKN:
A1CWQ8)
-- Host gabbro contains 10% iron-titanium dioxide (ilmenite) and 10%
calcium phosphate (apatite)
-- Historical metallurgical test work recovered 62.5 % of the ilmenite to
produce a concentrate at 48.1% TiO2 and recovered 92 % of the apatite to
produce a concentrate at 41.2 % P2O5
-- One sample from the apatite concentrate assayed 0.18% Total Rare Earth
Elements ("TREE's" = REE's + Yttrium)
Jourdan Resources Inc. ("JOURDAN" or the "Company")
(www.jourdan.ca) is pleased to announce the acquisition of the
Dissimieux Lake Titanium-Phosphate-REE's Property (the "Property")
from the La Blache Lake Anorthositic Complex, located 140 km
northwest of Baie-Comeau and 130 km north of Forestville (Quebec)
along the Upper North Shore of the St-Lawrence River, and
approximately 350 km in-line north-northeast of Quebec City.
The Property consists of 30 claims for 1,665.9 hectares or 16.7
km2, and is road accessible via Provincial Highway #138 at
Forestville, then driving northward on Highway #385 to Labrieville,
and from there using a network of secondary gravel forestry roads
provides direct access to the Property on the east-southeast shore
of Dissimieux Lake. The Property hosts titanium-phosphate
(ilmenite-apatite) mineralization located near the southern margin
of the La Blache Anorthositic Complex (the "LBAC"). The LBAC is
elongated in a northeast-southwest direction and stretches over 60
km by 15 to 25 km wide, and was emplaced into a highly
metamorphosed and folded package of steeply dipping,
north-northeast dipping paragneisses and amphibolites of the
Grenville Geological Province. The Property is dominated by steep
hills, with elevations ranging from 435 m to 700 m above sea
level.
Only regional geophysical surveying and geological mapping had
been carried out in the Property area before AFCAN Mining
Corporation ("AFCAN"), formerly known as Societe d'exploration
Miniere et petroliere Gaspesie, staked the original claims at
Dissimieux Lake. AFCAN completed detailed mapping, sampling and
geophysical surveys over the original property (Pritchard, 1994, in
GM53348; Birkett, 1995 and 1996, in GM 53515 and GM 54835; Oswald
and Birkett, 1996, in GM 54764). A drill program of 8 holes
totalling 637.5 m on two sections was also carried out in 1994 by
AFCAN (GM 53349).
Ilmenite-apatite concentrations were traced for more than 6 km
of strike length along a northeast-southwest orientation, up to 1
km wide, near the south shore of Dissimieux Lake. The
mineralization was hosted in several bands 20 m to 50 m wide made
up of finely disseminated magmatic apatite and ilmenite, associated
with gabbro, and the ilmenite occurred as a magnetite-ilmenite
assemblage linked to magnetic high anomalies. The average grades
calculated from surface sampling was 5% TiO2 (corresponding to 10%
ilmenite) and 3.5% P2O5 (corresponding to 10% apatite). The
corresponding average grades from the core samples were 4.72% TiO2
and 3.65% P2O5, with highs of 8.35% TiO2 and 4.42% P2O5. Lower
intensity magnetic anomalies retained the higher TiO2 grades but
were lower in P2O5.
Lakefield Research of Canada Ltd. ("Lakefield") (1997, in GM
54867; 1998, in GM 56490), COREM (2000, in GM 58571) and Lakefield
(2000, in GM 58570) assessed the feasibility of concentrating the
titanium and phosphate. Lakefield achieved recoveries of 92 % of
the apatite to produce a concentrate at 41.2 % P2O5, and recovered
62.5 % of the ilmenite to produce a concentrate at 48.1% TiO2 with
a sample containing 3.5 % P2O5 and 5.4 % TiO2. It was concluded at
the time that the higher the TiO2 and P2O5 grades in rocks, the
higher the recoveries in concentrates.
Met-Chem Canada Inc. ("Met-Chem") (2000, in GM 58569) made an
attempt to estimate the "Mining Potential" of the southern portion
of the ilmenite-apatite mineralization. The underlying concept
rested entirely on the assumption that a direct correlation existed
between the strong magnetic anomalies and the ilmenite-apatite
mineralization. However, this relationship was never confirmed as
the mafic components of the LLBAC, such as the gabbros and the
ultramafic rocks exhibited high magnetic susceptibilities, even in
the absence of ilmenite-apatite mineralization.
Nevertheless to estimate the resources, Met-Chem used the two
drilled sections from AFCAN, the geophysical surveys and geological
mapping. The cumulative length of favorable magnetic anomalies
covered 11,200 m, multiplied by width (averaging 90 m) of the
mineralization based on the area of mineralization calculated from
the two existing drill sections to a maximum depth of 75 m. A
specific gravity of 3.25 tonnes per m3 was used based on core
samples. "Anticipated Resources" of 235 million tonnes were
estimated at a grade of 4.72% TiO2 and 3.65% P2O5 based on the
drill core results (Met-Chem, 2000, in GM58569). The estimate is
considered historic Mineral Resources.
The terms "Mining Potential" and "Anticipated Resources" are not
recognized National Instrument ("NI") 43-101 Mineral Resources or
Mineral Reserves categories, and therefore should not the relied
upon. There has been insufficient work and a Qualified Person has
not reviewed nor evaluated "Mining Potential", "Anticipated
Resources" or historic Mineral Resources in terms of NI 43-101
standards to qualify the estimates into to current Mineral
Resources. There is no evidence at this time to suggest that any
future exploration would result in any of the estimates being
converted into NI 43-101 compliant Mineral Resources. JOURDAN is of
the opinion that the estimates reflects either the ilmenite-apatite
or titanium-phosphate mineralization potential of the Property.
The last major work on the Property was the Met-Chem scoping
study (2000, in GM 58569). Met-Chem indicated the
ilmenite-phosphate mineralization was amenable to open-pit mining
with a 1:1 waste to ore. It was proposed to transport the
concentrate via a pipeline at a cost of $3.28 per tonne transported
based on a yearly transport of 457,500 tonnes of concentrate
(217,500 tonnes of ilmenite and 240,000 tonnes of apatite) over a
distance of 140 km. In 2009, the Vendors assayed a sample from the
original apatite concentrate for Rare Earth Elements ("REE's") and
Rare Metal analysis at ALS Laboratories using the 38 element ICP-MS
Analytical Method (ME-MS81) (refer to the appended table). The
apatite concentrate sample contains 0.18% TREE's, of which 72% are
LREE's (Light REE'S: La, Ce, Pr, Nd, Pm, Sm) and 28% are HREE's
(Heavy REE's: Eu, Tb, Dy, Ho, er, Tm, Yb, Lu, Y). The most
significant REE's results are 517 ppm Cerium (Ce), 66 ppm
Dysprosium (Dy), 115 ppm Gadolinium (Gd), 169 ppm Lanthalum (La),
405 ppm Neodynium (Nd), 85 ppm Praseodymium (Pr), 98 ppm Samarium
(Sm), 521 ppm Strontium (Sr) and 348 ppm Yttrium (Yt).
JOURDAN's strategy going forward is focused on proving up the
highest quality NI 43-101 compliant Mineral Resources on the
Property, as it initially aims at validating and confirming the
previous work and the historic Mineral Resources estimate of 235
million tonnes grading 4.72% TiO2 and 3.65% P2O5 to National
Instrument 43-101 compliant Mineral Resources in either the
Inferred category or in higher categories, and if successful,
eventually test the full mineralization potential over the
multi-kilometric trend as a high tonnage titanium oxide (in
ilmenite), phosphate (in apatite) and REE's (in apatite) mineral
resource.
The Purchase Agreement
Under the terms of a purchase agreement, Mr. Emilien Seguin, the
Company's President and CEO transferred his one-third interest in
the claims to JOURDAN for the sum of C$ 1. The other arm's length
parties have agreed to transfer to the Company an additional
one-third (33.3%) Property interest if JOURDAN renews the claims
before the claim renewal date of May 28, 2010. JOURDAN Property
interest would then be increased to 66.7%, and a joint venture
would be formed between JOURDAN and the Vendors. If the Vendors
elect not participate in the joint venture, their one-third (33.4%)
Property interest will be diluted at the rate of 5% per each slice
of $500,000 in exploration work until their remaining Property
interest reaches 10%, which will then be a free-carried, with
JOURDAN having earned a 90% Property interest. There are no
royalties attached to the Property. The purchase agreement is
subject to final Board and regulatory approvals.
Key facts on ilmenite-titanium and apatite-phosphate
(www.wikipedia.org)
Titanium ore or ilmenite is refined into titanium dioxide or
TiO2, a white permanent pigment used in paints, paper, toothpaste
and plastics. TiO2 powder is chemically inert, resists fading in
sunlight, and is very opaque, allowing it to impart a pure and
brilliant white color to the brown or gray chemicals in plastics.
Titanium dioxide is also used in sunscreens due to its ability to
protect skin. It is used in air purifiers as a filter coating, or
in film used to coat windows on buildings which when exposed to UV
light (either solar or man-made).
Due to their high tensile, high corrosion resistance and ability
to withstand moderately high temperatures without creeping,
titanium alloys are used in aircraft, armor plating, naval ships,
spacecraft and missiles. Titanium alloyed with aluminium and
vanadium is used for critical structural parts, fire walls, landing
gear, exhaust ducts, and hydraulic systems. About two-thirds of all
titanium metal produced is used in aircraft engines and frames. An
estimated 59 tonnes are used in the Boeing 777, compared to 45
tonnes in the Boeing 747 and 146 tonnes in the Airbus A380. With
its high corrosion resistance to sea water, titanium is used to
make propeller shafts and rigging and in the heat exchangers of
desalination plants.
Titanium is also used to manufacture the housings and other
components of ocean-deployed surveillance and monitoring devices
for scientific and military use. Welded titanium pipe and process
equipment are used in the chemical and petrochemical industries
primarily for corrosion resistance. The pulp and paper industry
uses titanium in process equipment exposed to corrosive media.
Titanium metal is used in automotive applications. Because it is
non-toxic and is not rejected by the body, titanium is used in
medical applications including surgical implements and
implants.
The primary use of apatite is in the manufacture of fertilizer,
since it is a source of phosphorus. Apatite is occasionally found
to contain significant amounts of REE's and can be used as an ore
for those metals since apatite is non-radioactive.
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, REE's, Titanium and Phosphates) 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.
BACKGROUNDER
Rare Earth Elements,Trace Elements and Metals from the original
apatite concentrate at the Dissimieux Lake Titanium-Phosphate-REE's
Property.
----------------------------------------------------------------------
RARE EARTH ELEMENTS (in ppm)
----------------------------------------------------------------------
La Ce Pr Nd Pm Sm Eu Tb Dy Ho Er Tm Yb Y TREE's
----------------------------------------------------------------------
169 517 85 405 n/a 98 23 14 66 11 28 2 13 348 1,779
----------------------------------------------------------------------
TRACE ELEMENTS (in ppm)
----------------------------------------------------------------------
Ba Cs Ga Gd Hf Nb Rb Sr Ta Th Tl U V W Zr
----------------------------------------------------------------------
8 tr 4 115 tr 3 tr 521 tr 2 tr 1 5 1 17
----------------------------------------------------------------------
METALS (in ppm)
----------------------------------------------------------------------
Co Cr Cu Mo Pb Sr Zn
--------------------------------
3 tr tr tr tr tr 14
----------------------------------------------------------------------
Note: n/a - not available; tr - trace; TREE's - Total Rare Earth
Elements; numbers are rounded as per NI 43-101 guidelines.
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 statements".
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
