Jindalee Resources (ASX:JRL) reports it has completed 10 diamond holes completed as part of 28-hole program at its 100% owned McDermitt Lithium Project located in Oregon, US.
The company reports that the 2022 program is designed to infill and extend the Mineral Resource Estimate (MRE) announced on 6 July 2022 of 1.82Bt @ 1,370ppm lithium for 13.3Mt LCE (Lithium Carbonate Equivalent) at 1,000ppm Li cut-off.
Diamond drilling began late July with 10 holes (total 1,536m) completed to date; a reverse circulation (RC) drill rig is expected mid-September to complete the remaining 18 holes.
All 10 holes drilled to date intersected significant thicknesses of the sediments hosting the lithium mineralisation at McDermitt, with holes MDD024 and MDD025 (on the western edge of the MRE) the deepest holes drilled at McDermitt to date, reaching a maximum depth of 228m (MDD025).
Core from the first holes has been logged, cut and samples submitted for analysis, with initial assay results expected in October
Core from the first holes has been logged, cut and samples submitted for analysis, with initial assay results expected in October.
The company notes that core recovery “was excellent”.
Approval for a total of 39 RC and diamond drill holes was received from the Oregon Department of Geology and Mineral Industries (DOGAMI) in October 2021.
In total, 12 holes designed to increase confidence in the 2021 MRE3 and convert Inferred Mineral Resource to Indicated were drilled in December 2021, with 11 completed and one (MDRC018) abandoned prior to reaching target depth.
The drilling resulted in a 28% increase in contained lithium (from 10.1Mt LCE to 13.3Mt LCE).
Importantly, contained lithium in the Indicated Mineral Resource increased by 170%, from 1.8Mt LCE to 4.8Mt LCE.
A total of 28 holes (10 diamond and 18 RC) will be drilled in the current program, with holes planned to further increase confidence in the Inferred Mineral Resource and convert to Indicated Resource, as well as determine the extent of lithium mineralisation across the project.
Initial assays are anticipated to be received in October, with results to be announced as they become available.
Jindalee is an exploration company with 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.
Jindalee’s strategy is to acquire prospective ground, add value through focussed 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
