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Jourdan Completes Acquisition of Jazz Phosphate Property Adjacent to Arianne Phosphate
Jourdan Completes Acquisition of Jazz Phosphate Property Adjacent to Arianne Phosphate Miss...
About this update from Consolidated Lithium Metals Inc
[{"type":"text","content":"Jourdan Completes Acquisition of Jazz Phosphate Property Adjacent to Arianne PhosphateJourdan Completes Acquisition of Jazz Phosphate Property Adjacent to Arianne Phosphate\n\nMississauga, Ontario (Canada), January 22, 2014 /FSC/ - Jourdan Resources Inc. (JOR - TSX Venture),  (\"Jourdan\" or the \"Company\") (www.jourdan.ca)is pleased to announce that it has made the final option payment on the Company's Jazz Phosphate Project, per the January 17, 2012 Option Agreement with the Vendors, bringing Jourdan's interest in the Project to 100% (with no royalties).\n\nThis final option payment was settled in shares, through the issuance of 2,083,334 Jourdan shares to the Vendors.\n\nAll securities issued in connection with this transaction are subject to a four-month and a day hold period ending May 18, 2014.\n\nThe Jazz Phosphate Project is one of the flagship projects of Jourdan Resources. \n\nOn January 17, 2012, the Company optioned the 53 claim Jazz Phosphate Property located approximately 200 km north of the town of Saguenay in the Saguenay Lac-St-Jean region in the Province of Quebec, Canada.  The Jazz Property is a total of 2,952 hectares and is contiguous with Arianne Phosphate's Lake Paul Advanced Stage Phosphate Project, and the latter has:\n\n* Proven and Probable Mineral Reserves of 472.1 million tonnes at an average grade of 6.9 P2O5\n\n* Planned annual production rate of 3 million tonnes of 38.6% P2O5 apatite concentrate \n\n* 25.75 year mine life with average operating cost of $94/ tonne of concentrate (FOB Saguenay Port) \n\n* Pre-tax IRR of 20.7% and pre-tax NPV of $1.910 billion (@ 8%) based on P2O5 price of $213/t\n   \n(Source: Arianne Phosphate Inc.; all financial figures are in $US)\n\nThe Company previously announced on April 25, 2013 the completion of a ground magnetometer survey on Jazz.  This 34 kilometer magnetometer survey was designed to cover highly prospective areas originally outlined with airborne geophysics and prospecting. The full April 25, 2013 press release can be found at: http://jourdan.ca/uploads/173.pdf. Previously reported results of reconnaissance grab samples on the property can found in the Company's June 12, 2012 press release:  http://jourdan.ca/uploads/155.pdf.  \n\n\nMap 1: Jazz Phosphate Property adjacent to Arianne Phosphate'...