- Jourdan Resources (JOR) and North American Lithium have advanced a JV agreement for drilling the Vallee lithium property in Quebec
- Defining and expanding mineral resources at the Vallee property will require over 50,000 metres of drilling
- Ultimately, the project’s mineral resources will help supply needed materials to North American Lithium’s nearby concentrator
- Both companies are planning to “aggressively” move forward to define and develop a mineral resource in the area to feed the concentrator
- Jourdan Resources (JOR) is up 7.69 per cent trading at $0.07 per share as of 3:44 p.m. EST
Jourdan Resources (JOR) and partner North American Lithium have advanced a JV agreement for an exploration and development program.
The drilling program will take place on the Vallee lithium property in Quebec.
According to the companies, defining and expanding mineral resources at the Vallee property will require over 50,000 metres of drilling. This drilling is expected to happen later this year on North American Lithium’s neighbouring properties and 28 earn-in claims that cover JOR’s portion near the project.
Ultimately, the project’s mineral resources will help supply needed materials to North American Lithium’s nearby concentrator.
Moreover, drilling contractors have been hired for the project, and the remaining necessary permit applications are being prepared for submission. Both companies are planning to “aggressively” move forward to define and develop a mineral resource in the area to feed the concentrator.
Concentrator on track to produce lithium
Reportedly, the concentrator is still on track to produce its first sellable lithium concentrate by the end of this month. Both companies aim to produce all the project’s lithium through the concentrator plant in the future.
Under previous agreements signed by the companies in November, Over 24,000 metres of drilling were approved for the earn-in claims. JOR stated this drilling will be partly funded by the $4 million previously deposited in escrow under the joint venture agreement.
Jourdan Resources (JOR) is up 7.69 per cent trading at $0.07 per share as of 3:44 p.m. EST.
