Why you should know about Jindalee Lithium (ASX: JLL) developments in latest quarter - Kalkine Media

Highlights

• In December quarter, the company appointed Ian Rodger as CEO and Wayne Zekulich as Non-Executive Chair.
• After gaining shareholders’ approval, the company’s name was changed to Jindalee Lithium (ASX: JLL).
• Exploration target at McDermitt highlighted potential upside at the project.
• The company made advances with McDermitt PFS, expected to continue through until mid-2024.

Jindalee Lithium limited (ASX: JLL) is committed to advancing its US lithium assets to production. The latest quarter ended 31 December 2023 saw major development advancing operations across the McDermitt Lithium Project.

Additionally, the company was renamed Jindalee Lithium from Jindalee Resources during the December 2023 quarter, after gaining the shareholders’ approval. The appointment of Ian Rodger as CEO and Wayne Zekulich as Non-Executive Chair of the company was another major development of the period.

Let’s take a look at the activities undertaken at the company’s 100%-owned McDermitt project.

During the quarter, an independently estimated Exploration Target Range (ETR) of 300 – 700 million tonnes at 1,100 to 1,400 ppm Li was announced at McDermitt.

The exploration target adjoins and surrounds the 2023 MRE, with the ETR extending up to 1,500m from the nearest hole. Sampling west of the ETR area reported significant anomalous lithium values, projecting the potential to discover further lithium mineralisation, over and above the exploration target.

Metallurgical testwork advanced in Dec quarter

Flour ascertained that acid leaching with ore beneficiation delivers the best financial results and lowest operating costs amongst the options available. In June 2023,  samples from units 4, 6, 8 and 10 were selected for metallurgical testing from within Pit Shell 6 generated by Cube Consulting. From the selected samples, around 700kg of drill core was transported for testing.

Initial head assay results were received in October 2023, and the samples averaged 0.179% Li. The results suggest good potential to selectively process and mine units of ore early in the mine life, with encouraging impact on project economics.

In November 2023, the results of beneficiation of the individual unit samples through attrition scrubbing were released.

Data source: Company update

In January 2024, initial acid leaching results were shared. Leaching was done on leach feed with a 250-micron beneficiation cut size. The feed was leached without further grinding (250 µm) and with grinding to achieve 75 µm and reported significant lithium extraction rates. To know the detailed initial acid leaching results, click here.

As the Pre-feasibility Study at McDermitt is advancing, the company has received multiple preliminary deliverables. The PFS is anticipated to continue until mid-2024. The National Environmental Policy Act (NEPA) has commenced the environmental review process of the EPO (Exploration Plan of Operations) for McDermitt. Once approved, the EPO would allow the company to increase on-site activity.

JLL shares traded at AU$0.860 apiece on 26 February 2024.