Jindalee’s (ASX:JRL) 2022 drilling at McDermitt Lithium Project delivers strong initial assays

Highlights

• Jindalee Resources has received excellent shallow intercepts from initial holes at its McDermitt Lithium Project.
• Key intercepts include the following:
  • 29.2m @ 1853 ppm Li from 20.8m (MDD020)
  • 18.5m @ 1844 ppm Li from 10.5m (MDD021)
• RC drilling is underway for 18 holes, and JRL anticipates receiving further assay results in early October 2022.

Jindalee Resources Limited (ASX:JRL) has received strong first assays from the 2022 drilling program at the McDermitt Lithium Project located in SE Oregon, USA.

The company commenced this drilling program, comprising 28 drill holes, in late July 2022 with a view to infill and extend the Mineral Resource Estimate (MRE) of 1.82 Bt @ 1,370 ppm lithium for 13.3 Mt LCE at 1,000ppm Li cut-off.

Key intercepts from initial assays

As declared on 23 August 2022, JRL had finalised 10 diamond holes at the project, and the core from the initial holes was logged, cut, and samples were submitted for analysis. The company has now received assays from holes MDD020 (redrilling MDRC018, which was abandoned at 32.1m) and MDD021.

The encouraging results include the following significant intercepts:

Data Source: JRL Announcement | Image Source: © Oranhall | Megapixl.com

JRL anticipates receiving further assay results from the finalised drilling in early October 2022.

Furthermore, the company has initiated Reverse Circulation (RC) drilling for the remaining 18 permitted holes at the project. This drilling is continuing well and is anticipated to be completed in October.

Source: JRL Announcement

2021 drilling campaign at McDermitt 

In October 2021, JRL received approval for a total of 39 RC and diamond drill holes from the Oregon Department of Geology and Mineral Industries (DOGAMI).

In December 2021, the company drilled 12 holes that were designed to boost confidence in the 2021 MRE and convert Inferred Mineral Resource to Indicated. Under this drilling, 11 holes were completed, and one (MDRC018) was abandoned before achieving the target depth.

This drilling delivered a 28% increase in contained lithium from 10.1 Mt LCE to 13.3 Mt LCE, and contained lithium in the Indicated Mineral Resource increased by 170% from 1.8 Mt LCE to 4.8 Mt LCE.

Ongoing drilling program at McDermitt 

The current 28-hole drilling program includes 10 diamond and 18 RC holes with the holes planned to further boost confidence in the Inferred Mineral Resource and upgrade to Indicated category. Besides this, the drilling also aims to determine the scope of lithium mineralisation throughout the project.

Going forward, JRL anticipates receiving a steady flow of assay results from early October to December.

JRL shares were trading at AU$2.620 midday on 20 September 2022, up 1.16% from the last close.