Jindalee (ASX:JRL) Kick-Starts 21-Hole Drill Program at McDermitt Project, Shares Jump 3.75% on ASX

November 16, 2020 10:04 AM AEDT
Team Kalkine

Team Kalkine
16971 Posts
Team Kalkine comprises of experts who understand various markets nuances and are enthusiastic and passionate to provide best possible offerings in the form of insights and stories. The team has rich experience of working across different markets with...

Shares of Jindalee Resources Limited (ASX:JRL) are trading 3.75 per cent higher at $0.83 following the release of an update on McDermitt drilling program. Jindalee has commenced a 21-hole drill program at its major McDermitt lithium project, which is targeted at:

extending the present Inferred Mineral Resource and ETR (Exploration Target Range)
converting current Inferred Mineral Resources to Indicated status before the planned Scoping Study

Currently, the Inferred Mineral Resource at McDermitt stands at 150Mt @ 2,000ppm Li (0.43 per cent Li₂O) at a cut-off grade of 1,750ppm Li.

In October this year, Jindalee obtained the approval from the Bureau of Land Management to initiate this drill program. The Company anticipates the release of the first assay results from the drill program in late December.

Tags:

Jindalee

Disclaimer

The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.