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 requested two consecutive back-to-back trading halts pending an upcoming capital raise
  • The company will remain in the halts until September 14, or when an announcement is made
  • In mid-August, Jindalee received encouraging metallurgical test results from the McDermitt lithium deposit in the U.S.
  • Work was undertaken to evaluate the potential of possibly upgrading the ore from McDermitt by removing carbonate before the draining process
  • This produced an increased lithium sample of 0.34 per cent and a reduced reading of three per cent carbon trioxide
  • Shares in Jindalee last traded for 41 cents on September 4

Jindalee Resources (JRL) has requested two consecutive back-to-back trading halts pending an upcoming capital raise.

The company will remain in the halts until September 14, or when an announcement is made.

In mid-August, Jindalee received encouraging metallurgical test results from the McDermitt lithium deposit in the U.S.

Work was undertaken to evaluate the potential of possibly upgrading the ore from McDermitt by removing carbonate before the draining process.

This work produced a lithium sample of 0.34 per cent, an increase of more than 50 per cent compared to the head sample, and a reduced reading of three per cent carbon trioxide.

Jindalee last entered a trading halt in June 2018 regarding a potential acquisition.

A few days later, the company announced it had acquired an additional 242 mineral claims owned by HiTech Minerals, a U.S.-based subsidiary of Jindalee.

Surface sampling results from these claims have returned up to 3020 parts per million (ppm) lithium.

Shares in Jindalee last traded for 41 cents on September 4.

JRL by the numbers
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