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Jindalee Resources (ASX:JRL) - Non Executive Chairman, Justin Mannolini
Non Executive Chairman, Justin Mannolini
Source: Business News
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  • Jindalee Resources (JRL) has confirmed the thickness and continuity of lithium mineralisation at its McDermitt Lithium Project in the U.S.
  • The latest assay results have now been received for 11 holes of the 15-hole program the company completed late last year
  • Best results from the deposit include 58 metres at 1611 parts per million lithium from 1.5 metres, including 12.2 metres at 2617 parts per million
  • The company expects the density of drilling to extend the current inferred mineral resource and convert the existing inferred mineral resources to indicated status
  • Assay results from the remaining four holes are expected to be received later this month
  • Jindalee Resources are down 3.22 per cent, trading at $1.51

Jindalee Resources (JRL) has confirmed the thickness and continuity of lithium mineralisation at its McDermitt Lithium Project in the U.S.

Jindalee acquired the McDermitt in June 2018, which is located in south east Oregon.  An initial four-hole drilling program completed in September that year intersected broad widths of sediment hosted lithium mineralisation over significant distances, which led to further exploration.  

The latest assay results have now been received for 11 holes of the 15-hole program completed late last year.

The latest results for MDRC012 confirm substantial widths of lithium mineralisation from surface in the south east portion of the deposit.

Best results from the deposit include 58 metres at 1611 parts per million lithium from 1.5 metres including 12.2 metres at 2617 parts per million.

These results follow the recently announced drilling results confirming and extending the geology and grade continuity of the lithium mineralisation at McDermitt.

The company expects the density of drilling to extend the current inferred mineral resource and exploration target range. Jindalee also expects to convert the existing inferred mineral resources to indicated status ahead of a possible scoping study.

Assay results from the remaining four holes are expected to be received later this month.

Jindalee Resources are down 3.22 per cent, trading at $1.51 at 12:27 pm AEDT.

JRL by the numbers
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