Combined Indicated and Inferred Mineral Resource Inventory of 1.43 Billion tonnes at 1,320ppm Li for total of 10.1 Million tonnes Lithium Carbonate Equivalent (LCE) at 1,000 ppm cut-off grade (COG).
At 10.1Mt LCE McDermitt is now the largest lithium deposit in the US by contained lithium in Mineral Resource.
The deposit remains open with an Exploration Target Range (ETR) between 1.3 to 2.3 Billion tonnes at 1,100 to 1,500 ppm Li.
Jindalee is well funded to advance the development of the McDermitt Project with additional drilling, mining and metallurgical studies planned.
271 new claims staked; McDermitt now covers 54.6km², straddling the Oregon-Nevada border.
The new claims are highly prospective for lithium and increase potential development options at McDermitt.
Updated Mineral Resource Estimate expected early April.
Jindalee has received firm commitments of $9 million via a strongly supported Placement to sophisticated and professional investors.
The Jindalee Board is particularly pleased to welcome a number of leading institutions onto the register as part of the Placement.
On completion Jindalee will be well funded to further accelerate exploration and development studies at its McDermitt and Clayton North (USA) lithium projects, and advance its gold and nickel projects in Western Australia
Assay results received for the remaining drillholes from 2020 program with all drillholes containing mineralised intervals over 1000ppm Li.
Three of the four drillholes report significant lithium intercepts outside of current Inferred Mineral Resource.
MDRC015 expands known extents of McDermitt deposit 1.6km north and west of previous resource drilling limits.
Assay results from MDRC012 confirm substantial thickness and continuity of lithium mineralisation from surface.
Remaining four drillhole results expected by mid-March 2021.
Attrition scrubbing increases lithium grades by 60%.
Leaching confirms high lithium extraction rates from beneficiated samples with reduced acid consumption.
Additional work to further optimise metallurgical processes is underway.
Assay results from 10 of 15 drillholes received.
Substantial thicknesses of lithium mineralisation intersected in all holes.
Mineralisation intersected over 1km north of current Inferred Resource.
Remainder of drillhole results expected by mid-February 2021.
Drilling at McDermitt lithium project (US) completed in December 2020.
Jindalee exploring options for North American listing of lithium assets.
Exploration Target Range announced for Lyons River magnesite deposit (Tasmania).
Jindalee remains well funded following completion of placement and rights issue.