Jindalee Resources Increases Indicated Resource at McDermitt Lithium Project

THE DRILL SERGEANT: Jindalee Resources (ASX: JRL) reported an updated Mineral Resource Estimate (MRE) at the company’s 100 per cent-owned McDermitt lithium project in the United States.

Jindalee Resources said the updated was estimated following drilling in December 2021 of six RC and six diamond holes that were drilled with the aim of increasing confidence in the mineral resource to allow for conversion of Inferred Mineral Resource to Indicated.

The company declared this drilling encountered noteworthy widths of lithium mineralisation in every drill hole completed to date.

The updated estimate has produced a combined Indicated and Inferred Mineral Resource of 1.82 billion tonnes at 1,370ppm lithium for total of 13.3 million tonnes lithium carbonate equivalent (LCE) at 1,000ppm cut-off grade.

“The 2022 combined Indicated and Inferred Mineral Resource update represents an overall increase (from 2021) in tonnage of 25 per cent, with a three per cent increase in grade for a 28 per cent increase in contained lithium,” Jindalee Resources said in the company’s ASX announcement.

“More importantly, the Indicated Mineral Resource increased by over 165 per cent by tonnage and two per cent in grade for an overall 170 per cent increase in contained metal at this higher confidence classification.”

 

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Email: enquiry@jindalee.net

 

Web: www.jindalee.net