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Jourdan Resources and Sayona Mining Announce Plans for Extensive Drilling Program at Vallee Lithium Property
Large scale and extensive drill program planned with the intent of defining a mineral resource base capable of supplying more tonnes and enhanced material quali
About this update from Consolidated Lithium Metals Inc
[{"type":"text","content":" Large scale and extensive drill program planned with the intent of defining a mineral resource base capable of supplying more tonnes and enhanced material quality to the North American Lithium concentrator Jourdan and Sayona plan to undertake the largest lithium drill program in Quebec set to start in May 2023 TORONTO, March 07, 2023 (GLOBE NEWSWIRE) -- JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORF; FRA:2JR1) (“Jourdan” or the “Company“) is pleased to announce that it and its partner, North American Lithium Inc. (“NAL”), a majority owned subsidiary of Sayona Mining Ltd. (“Sayona”), have agreed to embark on an aggressive exploration and development program with the objective of expanding and defining sufficient mineral resources to supply increased tonnages to the NAL concentrator. The establishment of a mineral resource base at the Vallee property would support NAL’s current open pit mine operation that holds the NAL concentrator located approximately 60 km north of Val D’Or, Quebec. NAL’s concentrator commenced processing operations on February 27, 2023, and spodumene concentrate production is anticipated by Sayona to begin in March 2023 (for more information, please refer to Sayona’s press release dated February, 27 2023). To define mineral resources at the Vallee property, over 50,000 m of drilling is planned this year on both NAL’s properties and the 28 claims that comprise that portion of Jourdan’s adjacent Vallée lithium project (the “Earn-in Claims”) that are the subject of an earn-in and joint venture agreement entered into between NAL and the Company in November 2022 (the “JV Agreement”). For more information about the JV Agreement and the Earn-in Claims, please see the Company’s press release dated November 14, 2022, which is available under the Company’s SEDAR profile at www.sedar.com. Over 24,000 m of drilling was jointly approved by NAL and Jourdan for the Earn-in Claims, which Jourdan ancitipates will be funded in part by the C$4 million previously deposited in escrow by NAL pursuant to the terms of the JV Agreement. Jourdan and Sayona believe that the upcoming drilling program will be one of the largest lithium drill programs in Quebec in 2023. The tender for drilling contractors has been launched and exploration permit applications needed to commence the first phase of the drill program that have not already be...