Categories: Energy
Topics: Lithium Stocks

Tiny Stock, BIG Lithium Drill Program

Jourdan Resources Inc. (TSX-V: JOR)(OTC: JORFF) — currently trading around C$0.07 per share — has announced joint plans to undertake a large lithium drilling program in Quebec, Canada. 

The upcoming drill program, slated for May 2023, will be a joint effort between Jourdan Resources and its partner on the Vallée lithium project — North American Lithium Inc. (NAL) — which is a majority owned subsidiary of Australia-based Sayona Mining Ltd.

As you can see below, JOR’s Vallée claims (top-right) surround NAL/Sayona’s North American Lithium Mine — Canada’s only producing lithium mine. The area geology consists of spodumene-bearing pegmatites; spodumene is a lithium mineral derived from pegmatite rock.

Jourdan Resources CEO Rene Bharti — whom you’re about to hear from directly in our exclusive interview coming right up — commented via press release:

“This is a historic moment which truly showcases the strong partnership between Jourdan, NAL and Sayona. With Jourdan having over 13,000 hectares of land surrounding NAL's project, the opportunity to partner with NAL and Sayona to accelerate Jourdan towards production is clear. Given that the NAL concentrator has commenced operations, Jourdan is in a very rare position to benefit from having access to what we expect will become Canada's leading lithium producing mine and concentrator. We are truly proud and honored at what we see as significant upside potential for both companies, in such a strong lithium environment.”

NAL/Sayona has come in with an initial 9.9% investment in JOR and can earn-in up to 50% of the Vallée project. Technical teams from both firms are working together on the advancement of the project.   

Sayona’s Managing Director Brett Lynch added: 

“Sayona is excited to be partnering with Jourdan as we undertake a large scale and extensive drill program at NAL and the Earn-in Claims. The combined drilling program will be undertaken in consultation with our local community stakeholders, to pursue a bigger mineral resource base and better grades in the Abitibi Hub capable of delivering increased ore tonnages to the NAL concentrator and a longer life-of-mine. With the production of saleable lithium concentrate at NAL only days away, this is an exciting time for Sayona and Quebec as we work to build what we believe to be the leading lithium production centre in North America.”

Importantly, drilling at Vallée from 2022 (6,585 meters across 32 holes) produced a highlight intercept of 1.23% lithium oxide over 4.15 meters; assay results from the final 13 holes are expected in the coming weeks. 

If Jourdan is able to successfully follow up on that success and define a viable lithium resource at Vallée in the upcoming drill rounds, the company stands to benefit from its relationship with NAL/Sayona in that ore from Vallée could potentially be trucked to processing facilities onsite at the North American Lithium Mine. 

Additionally, JOR has announced details of its planned summer exploration program at the neighboring Baillargé lithium project. 

The program at Baillargé — which is permitted for 20 drill-hole sites — will focus on four lithium bearing pegmatites that were exposed along strike during last summer’s mapping and soil sampling campaign.

Jourdan has three early-stage lithium exploration properties in the district spanning a combined 16,000 hectares, or 160 sq km: Vallée, Baillargé, and Preissac-Lacorne (all pictured in the property map above).

With excitement brewing as drilling nears, our own Gerardo Del Real of Junior Resource Monthly caught up with Jourdan Resources CEO Rene Bharti for an in-depth discussion on all-things JOR. Please enjoy!

For additional information on Toronto-based Jourdan Resources, be sure to contact the company’s IR department at 416-861-5800 or by email at info@jourdaninc.com.

Mike Fagan
Editor, Resource Stock Digest