Hole MDD-009 intersected 28 metres at 1,763 ppm lithium including 8 metres at 2,416 ppm lithium and hole MDD-010 intersected 40 metres at 1,922 ppm lithium including 24 metres at 2,176 ppm lithium.
Assays for 3 of 9 holes have been received with assays for the remaining holes expected in coming weeks.
The assays from these two holes are encouraging and confirm that the mineralised sediments extend for considerable distances to the north and north-east of MDD-003, drilled in 2018.
This reinforces the potential for McDermitt to host a large sediment-hosted lithium deposit.
Notably, the lithium-bearing sediments at the McDermitt Project have several positive characteristics.
These include the mineralisation being near-surface hosted by soft rocks which support low-cost mining.
Initial metallurgy test work has also indicated high lithium recoveries from conventional sulphuric acid leaching at low temperature and atmospheric pressure.
The economics of advanced sediment projects demonstrate the costs to produce lithium compounds used in battery manufacture are highly competitive.
Drilling to feed into resource estimation
Once the remaining drill results have been received, a complete database will be used for resource estimation and to update the existing Exploration Target Range (ETR) of 160-780 million tonnes grading 1,300-1,600 ppm lithium.
This step is likely to take around four weeks from receipt of final assays, with the release of an initial resource estimate and update of the ETR expected late November 2019.
Proposed follow-up activities may include additional metallurgical test work, planning of further drilling in 2020 and commencement of early-stage permitting for the project.