Announcement Date: 2022-09-19
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Jindalee Resources Ltd.
Project name: McDermitt
Location: United States
Commodities: Lithium
Highlight: Drilling results incl. 29.2m at 1853ppm Li from 20.8m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Jindalee Resources Limited (Jindalee, the Company) is pleased to provide an update on drilling at its 100% owned McDermitt Lithium Project located in SE Oregon, USA. The 2022 drilling program (total 28 holes) is designed to infill and extend the Mineral Resource Estimate (MRE) announced on 6 July 2022 of 1.82 Bt @ 1,370 ppm lithium for 13.3 Mt LCE (Lithium Carbonate Equivalent) at 1,000ppm Li cut-off1 . On 23 August 2022 Jindalee advised that 10 diamond holes had been completed at McDermitt and that core from the first holes has been logged, cut and samples submitted for analysis2 . Assays have now been received from holes MDD020 (redrilling MDRC018 which was abandoned at 32.1m) & MDD021 (Figure 1; Appendix A), with significant intercepts summarised below 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 10.1 Mt LCE to 13.3 Mt LCE). Importantly, contained lithium in the Indicated Mineral Resource increased by 170%, from 1.8 Mt LCE to 4.8 Mt LCE1,3 (Table 1).
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