Li

Jindalee Resources encounters further ‘outstanding’ drill intercepts at McDermitt Lithium Project, US

Jindalee Resources (ASX:JRL) reports it has encountered further ‘outstanding’ drill intercepts at the McDermitt Lithium Project located in Oregon, US.

The company says these results were recorded as part of the 2022 drilling program designed to infill and extend the mineral resource estimate (MRE) announced on 6 July 2022 of 1.82 billion tonnes @ 1,370ppm lithium for 13.3 million tonnes of lithium carbonate equivalent (LCE) at a lithium cut-off of 1,000ppm.

This drilling program comprising 21 holes (10 diamond and 11 reverse circulation) was completed in October with results from the first 4 diamond holes announced on 19 September and 25 October, and the results from the first 5 RC holes were announced on 11 November.

The assay results for 4 reverse circulation holes (RC) and 2 diamond holes have been received with all holes returning ‘significant’ lithium intercepts including 23.4m @ 1,726ppm Li from 133.6m including 6m @ 2,211ppm Li from 140.2m in MDD025, 51,8m @ 1,787ppm Li from 83.4m including 9.8m @ 3,118ppm Li from 104.7m in MDD026.

Hole MDRC026 intersected 29m @ 1,568ppm Li from 19.8m including 3m @ 2,100ppm Li from 30.5m, and MDRC030 intercepted 25.9m @ 1,460ppm Li from 118.9m including 3m @ 2,270ppm Li from 129.5m.

Jindalee reports the current drilling program is designed to further increase the confidence in the inferred mineral resource and convert to indicated status, as well as determine the extent of lithium mineralisation across the project, with 5 of the 6 holes located within the current inferred mineral resource but outside the current indicated mineral resource.

the ‘substantial’ thickness of mineralised sediments intersected in all 6 holes suggests potential for adding ‘substantial’ tonnages on the western side of the McDermitt Deposit

Furthermore, the ‘substantial’ thickness of mineralised sediments intersected in all 6 holes suggests potential for adding ‘substantial’ tonnages on the western side of the McDermitt Deposit.

The company states assays have now been received from 6 diamond holes and 9 RC holes, and the results from the remaining 6 holes should be received by mid-December with an updated mineral resource estimate for McDermitt expected to be announced in early 2023.

Jindalee Resources is an exploration company with direct and indirect exposure to lithium, gold, base and strategic metals including iron ore, uranium and magnesite through projects generated by the company’s technical team.

The company’s assets include the McDermitt and Clayton North projects in the United States, as well as the Widgiemooltha, Joyners Find Iron Ore and Prospect Ridge projects in Australia.

Images: Jindalee Resources Limited
Written By Harry Mulholland
Hailing from the Central Coast region of NSW, Harry is a passionate journalist with a background in print, radio and ESG news. When not bashing away on his keyboard, he can be found brewing a coffee or playing with his dog.