Announcement Date: 2022-07-06
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Jindalee Resources Ltd.
Project name: McDermitt
Location: United States
Commodities: Lithium
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Jindalee Resources Limited (Jindalee, the Company) is pleased to announce the updated Mineral Resource Estimate (MRE) at the Company’s 100% owned McDermitt Lithium Project (US) following the completion of drilling in December 20211,2,3 . A total of 6 RC and 6 diamond holes were drilled with the aim of increasing confidence in the mineral resource to allow for conversion of Inferred Mineral Resource to Indicated. Significant widths of lithium mineralisation have been intercepted in every drill hole to date, with highlights from the 2021 program3 including The grade continuity that is characteristic of this style of lithium mineralisation is demonstrated by the material uplift in confidence of the Mineral Resource from the 12 holes drilled in 2021. An additional 28 drillholes are fully permitted to drill in 2022 with the aim to infill and upgrade the Resource and to define the full extent of the lithium mineralisation at the McDermitt Project (Figure 2). Drilling is expected to commence in the September quarter. Jindalee continues de-risking the Project on multiple fronts. The Company is currently progressing environmental baseline studies ahead of submitting an application for an Exploration Plan of Operation (EPO) in the March quarter 2023. Additionally, metallurgical studies at Nagrom are ongoing, focussing on optimising the processing flowsheet from recommendations identified in the Scoping Study
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