Mississauga (Canada), May 24, 2012 /FSC/ - Jourdan Resources Inc. (JOR - TSX Venture),("JOURDAN" or the "Company") (www.jourdan.ca) is pleased to announce the completion of its first drill hole program at the Dissimieux Lake Phosphate Project, Quebec. The 23 hole drill program follows up on historical drilling completed in 1993 as well as one new target area in proximity to the historical drilling.
A total of 2,633 metres were completed in 23 holes. Originally planned as a 2,500 metre, 19 holes drill program, the Company was ahead of schedule and on budget, and as such, additional drilling was authorized and completed. 12 of these holes targeted the Main Phosphate Horizon (MPH). This drilling was originally announced in Jourdan's press release dated May 1, 2012, which can be found here: http://www.jourdan.ca/uploads/150.pdf
12 holes tested an 830m strike length of the MPH in the South-West drilling area, up from the originally planned 10 holes covering a planned 440m strike length of the MPH. The two additional holes tested a geophysical target approximately 400m SW and along the interpreted strike of the MPH from 10 holes that were originally planned.
9 holes tested a 730m strike length of the MPH in the North-East drilling area as originally planned. 2 additional holes tested a geophysical target 200m SE of the middle section of drilling on the MPH, on a target interpreted to be a parallel zone of phosphate mineralization.
This drill program tested less than 1% of Jourdan's 100% owned Dissimieux Lake Phosphate Project. The 1994 Drilling Report (in French) that describes the 1993 drilling can be reviewed here: http://www.jourdan.ca/pdf/Diamond%20Drilling%20Report%20-%20January%201994_opt.pdf
Stephen Wallace, VP of Exploration states "This is the initial drill program by Jourdan Resources on the Dissimieux Phosphate target and it was encouraging that the ease and speed of drilling allowed for four extra drill holes within the original budget. This extra drilling will add to the knowledge of the property and greatly assist the planning of future drill programs."
Quality assurance / Quality Control ("QA/QC")
The core from diamond drill holes was transported from the drill sites to the JOURDAN core logging facility. There, qualified personnel logged, sample tagged and half-split the core in 0.25 meter to 1 meter intervals using a hydraulic splitter. The individual sampled intervals of half-split core are then inserted in tagged plastic bag, sealed and inserted in large nylon bags readied for shipment to the ALS Laboratory Group facility in Val-d'Or (Quebec). Blanks and duplicates were inserted in the sample stream on-site at every 20 core samples. The drill program was completed under the supervision of Jean Lafleur, M. Sc. P. Geo.
The technical information in this news release was approved by Mr. Jean Lafleur, M. Sc. P. Geo, a Consultant to Jourdan Resources, who is a Qualified Person under NI 43-101 regulations.
The material in this news release has been reviewed by Mr. Stephen Wallace, P. Geo, VP Exploration, and a Qualified Person as defined in NI 43-101.
About Jourdan Resources
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 and development of mining properties in phosphates. The Company's properties are currently at the exploration stage and are located along the North Shore, the Mauricie, the Abitibi and James Bay regions of Quebec.
Please visit the Company's website at www.jourdan.ca
For further information please contact:
President and CEO
Tel: (647) 477-2382
Fax: (647) 477-2389
Glen Wylie, CMA
Tel: (647) 477-3758
Fax: (647) 477-2389
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 statements.
To view this press release as a web page, please click on the following link: http://www.usetdas.com/pr/jourdan05242012.htm
Source: Jourdan Resources Inc. (TSXV:JOR.V - News) http://www.jourdan.ca
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