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Jourdan Completes Ground Magnetometer Survey on Jazz Phosphate Property
Jourdan Completes Ground Magnetometer Survey on Jazz Phosphate Property NOT FOR DISTRIBUTION...
About this update from Consolidated Lithium Metals Inc
[{"type":"text","content":"\nJourdan Completes Ground Magnetometer Survey on Jazz Phosphate Property\n\nJourdan Completes Ground Magnetometer Survey on Jazz Phosphate Property\nNOT FOR DISTRIBUTION TO U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES\n* 34 line kilometres of ground magnetometer survey completed \n* Renegotiation of Jazz Option Agreement to eliminate work commitment\nMississauga (Canada), April 25, 2013: JOURDAN RESOURCES INC. (TSX-V: JOR) (\"JOURDAN\" or the \"Company\") (www.jourdan.ca)is pleased to report the completion of a ground magnetometer survey on its 100% controlled Jazz Phosphate Property (the \"Property\") located approximately 200 km west-northwest of the Upper North Shore port community of Baie-Comeau (Quebec), and 40 km west of JOURDAN's Lac Dissimieux Phosphate Project.\nThe Jazz Phosphate Property sits contiguous to the south of the Lac a Paul Phosphate Deposit, where Arianne Resources recently completed a prefeasibility study for open-pit mining operations. The study projected an annual production rate of three million tonnes of 38% P2O5 apatite concentrate over a 17 year open-pit mine life with a forecasted net present value of $985-million and a pre-tax internal rate of return (IRR) of 23.2%. \nThis 34 kilometer magnetometer survey was designed to cover highly prospective areas originally outlined with airborne geophysics and prospecting. The results of this survey will be incorporated into the existing database to improve project targeting in preparation for future geological mapping, surface sampling and diamond drilling. The survey was completed in late March to take advantage of good winter conditions for access. Favorable exploration targets were identified by the survey along with previous surface mapping and prospecting. \n\"We continue to move forward on our projects at a time when many junior mining companies look to sit on the cash they have and do nothing. We believe that phosphate as a commodity will continue to grow in demand, and well planned progress is the best value for our shareholders\" says Jourdan's President and CEO, Michael Dehn. \nIn addition Jourdan has negotiated changes to the Jazz option agreement whereby the company no longer has to complete a $500,000 work commitment to finalize the option agreement. Jourdan has two remaining obligations under the option agreement, a payment of $75,0...