Toronto, Ontario, April 30, 2015 (GLOBE NEWSWIRE) -- Jourdan Resources Inc. (TSX-V: JOR)(OTC: JODRF)("JOURDAN" or the "Company") (www.jourdan.ca) is pleased to announce that it has optioned the Quebec Ceylon lump vein graphite property (or, "Quebec Ceylon" or "the Property").The Quebec Ceylon property is 1.3 km away from the power line grid and main roads, while secondary roads and trails travel across the property. An active rail line is within 15 km due east of the Quebec Ceylon Graphite Property (see Map 1).
The property consists of three active claims and four pending claims. The claims are adjacent to Caribou King Resources, Saint-Jean Carbon and Cavan Ventures, all in the same geological context as the Quebec Ceylon Property:
Caribou King- The Uncle zone is located 850 m from the Property. The zone consists of graphite showings located in old workings. A vein sample provided a high purity concentrate of 99.9% graphitic Carbon. (Caribou King Press Release dated March 03, 2015)
Cavan Ventures- An EM anomaly extends from Cavan's property, down to the western area of the Property, where an historical graphite showing is recorded. The EM anomaly targeting graphite mineralization returned 21.6% Carbon over 14.5 m and 16.8% Carbon over 3.9 m. (Cavan Ventures Press Release dated July 17, 2014) A road passes 200 m east of the anomaly on the Property.
Saint-Jean Carbon - The Walker mine is located 1,300 m NE of the Property. A total of 816 tons of graphite was historically extracted with a grade of 25% Carbon. Concentrate results from 2013 returned of 96.1% Carbon from flotation and 99.1% Carbon from caustic soda leach. (Torch River Resources Press Release date October 13, 2013)
Map 1: Quebec Ceylon Lump Vein Graphite Property, Buckingham, Quebec
http://jourdan.ca/pdf/20150430MAP1.pdf
To acquire 100% of the property, Jourdan will issue 300,000 shares within 5 days of the TSX Venture Exchange's ("TSXV") approval; $6,000 cash on completion of a financing and receipt of surface rights access permission; an additional 300,000 shares in 6 months; and a final 300,000 shares if and when the pending claims have been confirmed, to a Quebec based prospector. The property is subject to a 2% NSR to the vendor.
Completion of the acquisition remains subject to TSXV approval. The securities of the Company to be issued on the acquisition will be subject to a four month hold period.
Lump graphite, also known as vein, chip or epigenetic graphite, are found in "dynamothermal metamorphic environments where metasedimentary belts are invaded by igneous rock". Examples of lump graphite deposits include the Calumet, Clot, Walker and Miller mines, as well as the St. Sauveur occurrence in Quebec, Canada; Dillon occurrence in Montana, USA; the Bagola Mine in Sri Lanka; and deposits of South Kerala in India. Typical grade in lump graphite veins is 40% to 90% graphitic carbon before sorting or upgrading. (From British Columbia Geological Survey Paper 1998-1 in Geological Fieldwork 1997, Vein Graphite in Metamorphic Terrains P05).
"Lump or Vein graphite is considered to be one of the rarest, commercially valuable, and highest quality types of natural graphite. It occurs in veins along intrusive contacts in solid lumps and is only actively mined in Sri Lanka (Mores, 2007). Given the carbon content typically found with lump/vein graphite recovery operations and costs will normally be lower than flake or amorphous graphite recovery. In addition, vein graphite is suitable for many of the same applications as flake graphite giving it a distinct competitive edge in terms market prices and product applications." (Press Release dated April 30, 2013 - Torch River Resources Ltd)
The Company has not yet completed adequate test work to provide any certainty the lump vein graphite occurs on the Quebec Ceylon Property. In the absence of a feasibility study or production, there is no certainty that any discovery of lump graphite would be economically viable.
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.
Please visit the Company's website at www.jourdan.ca
For further information please contact:
Michael Dehn Glen Wylie, CPA, CMA
President and CEO, Jourdan Resources Inc. CFO, Jourdan Resources Inc.
Tel: (647) 477-2382 Tel: (647) 477-3758
Fax: (647) 477-2389 Fax: (647) 477-2389
michael@jourdan.ca glen@jourdan.ca
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.