Jindalee Resources (ASX:JRL) completes one-third of 2022 drilling at McDermitt

Highlights

• Jindalee Resources (ASX:JRL) has completed 10 diamond holes under the ongoing drilling campaign at its McDermitt project.
• The Company expects an RC drill to arrive the project location in mid-September to complete the remaining 18 holes.
• JRL completed 11 holes during December 2021, which delivered a 28% increase in contained lithium.

Jindalee Resources Limited (ASX:JRL) is advancing well at its US lithium asset to boost the Mineral Resource Estimate (MRE) announced in July this year.

As part of its 2022 drilling campaign at the McDermitt project in Oregon, the Company has completed 10 diamond holes. The ASX-listed company kicked off drilling at its 100%-owned McDermitt project in late July 2022. The campaign is focused on drilling 28 holes, including 10 diamond and 18 Reverse Circulation (RC) holes.  

All holes intersected significant lithium mineralisation

Through the 2022 program, JRL aims to infill and extend the Mineral Resource Estimate (MRE) unveiled in early July 2022. JRL had declared an MRE of 1.82 Bt @ 1,370 ppm lithium for 13.3 Mt LCE at a 1,000ppm Li cut-off.

The Company has encountered substantial thicknesses of the sediments hosting the lithium mineralisation at McDermitt through the 10 holes drilled to date.

Source: JRL Announcement

The holes MDD024 and MDD025 are the deepest holes drilled at McDermitt to date, reaching a maximum depth of 228m for hole MDD025.

Results from December 2021 drilling at McDermitt

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

JRL drilled a total of 12 holes in December 2021, designed to boost confidence in the 2021 MRE and convert Inferred Mineral Resource to the Indicated category.

Diamond drilling at McDermitt (left) Mineralised Sediments (Right) | Source: JRL Announcement

Under this drilling, JRL completed 11 holes, and one hole (MDRC018) was abandoned prior to reaching the target depth.

Moreover, the Company achieved a 28% increase in contained lithium through this drilling while the contained lithium in the Indicated Mineral Resource went up from 1.8 Mt LCE to 4.8 Mt LCE, indicating an increase of 170%.

Upcoming RC drilling

The current drilling campaign is expected to further boost confidence in the Inferred Mineral Resource and convert to Indicated Resource while also assessing the extent of lithium mineralisation across the project.

Now that 10 holes under the diamond drilling have been wrapped up, the Company looks forward to completing the rest of the 18 holes using an RC drill rig in mid-September.

JRL has logged the core from the first holes, and samples have been submitted for analysis. The Company anticipates receiving initial assay results in October.  

JRL shares traded at AU$2.720 on 23 August 2022.