The latest results from Jindalee Resources Limited’s (ASX:JRL) drilling programme at the McDermitt Lithium Project in the US have confirmed substantial widths of lithium mineralisation from surface.
The company has now received assay results for 11 holes of a 15-hole programme completed late in 2020 in the SE portion of the deposit. Highlight results include:
- 58.0m @ 1611 ppm Li from 1.5mincluding 12.2m @ 2617ppm Li
- 27.4m @ 1477 ppm Li from 88.9m
Results from hole MDRC012, located approximately 500m SE of the nearest hole (MDRC011), support significant intercepts recently announced by Jindaleewith drilling successfully confirming and extending the geology and grade continuity of the lithium mineralisation at McDermitt.
Results from the final four holes are expected later this month.
The density of drilling is expected to be adequate to extend the current Inferred Mineral Resourceand Exploration Target Rangeand convert existing Inferred Mineral Resources to Indicated status ahead of a possible Scoping Study.
In late 2019 Jindalee announced an Inferred Mineral Resource of150Mt @ 2,000ppm Li (0.43% Li2O) at 1,750ppm Li cut-offhad been estimated at McDermitt.
The Mineral Resource was estimated using a cut-off grade of 1,750ppm Li, which is considered appropriate in the context of similar projects and based on an assessment of the likelihood of future economic extraction as required by the JORC (2012) Code.
The entire Inferred Mineral Resource sits within 100m of surface and is flat lying, both positive factors for future project economics. Furthermore, analysis of the grade tonnage distribution of the McDermitt resource model highlights the potential for additional material available at lower grades, and metallurgical testwork to date has been very encouraging, indicating high lithium recoveries from conventional sulphuric acid leaching at low temperature and atmospheric pressure.
Using the same cut-off grade as the Mineral Resource, an ETR of180-330Mt @ 1,800-2,200ppm Li (exclusive of the Inferred Resource) was also estimated.
