Jindalee Resources (ASX: JRL) reports the indicated Mineral Resource Estimate (MRE) at its McDermitt Lithium Project in Oregon, US has increased by 170%.
The results came from six reverse circulation (RC) and six diamond holes that were drilled with the aim of increasing confidence in the mineral resource to allow for conversion of Inferred to Indicated.
Jindalee reports the drilling program has returned ‘significant’ widths of lithium mineralisation and have delivered a combined overall increase of 170% in contained metal, with a 2% increase in grade overall across the Inferred and Indicated MRE.
Key drilling highlights include:
- Hole MDD014: 38.0m @ 1751pm Li from 43.0m, incl. 3.0m @ 3805ppm Li
- Hole MDD015: 21.0m @ 1952ppm Li from 24.0m, incl. 3.0m @ 3065ppm Li
- Hole MDD016: 24.0m @ 2210ppm Li from 61.5m, incl. 9.0m @ 3000ppm Li
- Hole MDD017: 40.5m @ 1714ppm Li from 33.0m, incl. 12.0m @ 2732ppm Li
- Hole MDD018: 60.0m @ 1880ppm Li from 48.0m, incl. 15.0m @ 2707ppm Li
- Hole MDD019: 73.5m @ 1554ppm Li from 30.0m, incl. 10.5m @ 3055ppm Li
The total combined Indicated and Inferred Mineral Resource now rests at 1.82 billion tonnes @ 1,370ppm Li for a total of 13.3Mt lithium carbonate equivalent @ 1,000ppm cut-off grade.
In addition, the company reports that these results identify grade continuity that is characteristic of this specific style of lithium mineralisation.
The McDermitt Lithium Project is located in south-east Oregon, along the west coast of the US with Jindalee owning 100% of all associated tenements.
The project was generated following an initial four-hole drilling program in 2018 that intersected broad widths of sediment hosted lithium mineralisation across ‘significant’ distances and resulted in an exploration target range of 160-780Mt @ 1,300-1,600ppm Li.
With the recent 12-hole drilling program at the project now complete, Jindalee announces that it will move forward with an additional 28 drilling program to upgrade the resource and highlight the full extent of the known lithium mineralisation.
Drilling is expected to commence in the September quarter of 2022.
Jindalee has direct and indirect exposure to lithium, gold, base and strategic metals, iron ore, uranium and magnesite through projects generated by the company’s technical team.
Its strategy is to acquire prospective ground, add value through focused exploration and either advance key assets to development, introduce partners to assist in funding further progress, or fund this activity via a dedicated company in which Jindalee retains a significant interest.
Images: Jindalee Resources Limited
