Announcement Date: 2022-02-02
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Jindalee Resources Ltd.
Project name: McDermitt
Location: United States
Commodities: Lithium
Highlight: Drilling results incl. 29.0m @ 1801ppm Li from 24.4m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Jindalee Resources Limited (Jindalee, the Company) is pleased to announce assay results from the remaining three Reverse Circulation (RC) drillholes completed late in 2021 at the Company’s 100% owned McDermitt Lithium Project (US). These new results continue to support the Mineral Resource Estimate (MRE) reported in April 20211 . Highlights from these drillholes include MDRC021 intersected six mineralised zones of lithium with the best result of 29.0m of 1,801 ppm Li that included a 12.2 m wide zone grading over 2,500 Li (Figure 1). This intercept is within 25m of surface and highlights the potential for enhancement of project economics through staged production as identified in the Preliminary Scoping Study. MDRC022 also reported a wide, shallow intercept of over 20m of lithium mineralisation, including 1.5m at 3,110ppm Li from surface. Jindalee expects the results from diamond drilling completed in December to follow later in the quarter. All drill hole results will be used to update the MRE early in the June quarter. A full summary of all drill hole data and significant intercepts received to date from the 2021 drill program is included Annexure A.
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