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Jindalee Resources thick lithium intersections grow mineralised area at McDermitt

The shallow depths of mineralisation imply low strip ratios in any future potential development scenario.

Jindalee Resources Ltd - Jindalee Resources thick lithium intersections grow mineralised area at McDermitt
Once all results are in, the company aims to begin resource estimation work

Jindalee Resources Limited’s (ASX:JRL) latest thick, high-grade lithium intersections have further expanded the mineralised area at the 100%-owned McDermitt Lithium Project in northern Nevada, USA.

Assays from another two holes have returned up to 38 metres from 72 metres at 1,496ppm lithium, including 18 metres at 1,774 ppm; and 54 metres from36 metres at 1,773ppm, including 26 metres at 2,202ppm.

Results have now been received from five of the nine holes drilled with multiple thick intercepts extending and confirming continuity of mineralisation across the project area.

Lithium within all units

These assays demonstrate that lithium mineralisation is found within all of the sedimentary units encountered.

Significant intercepts from holes MDD-007, MDD-008 and MDD-009.

Highest grades are typically observed in the shale and mudstone units, and occasionally also within localised brecciated mudstone units interpreted to be associated with hydrothermal activity post-deposition of the sediments.

This provides a potential exploration targeting tool to locate higher grade zones in future drilling programs.

These results continue the theme that is developing of lithium mineralisation extending across a larger area, deeper than that encountered in 2018, and in multiple stacked horizons.

Increased areal extent

Initial compilation of results from the 2018 and 2019 programs highlights the increased areal extent of mineralisation and the increased depth to which mineralisation has been observed in the deeper drilling undertaken in 2019.

Summary of significant intercepts received so far with 2018 intercepts in white and 2019 intercepts in yellow.

The combination of multiple mineralised intervals, increased areal extent and greater vertical thickness strongly supports a significant upgrade to the exploration target range.

This stands at 160-780 million tonnes at 1300-1600ppm lithium.

Resource estimation proposed

Jindalee also considers that these factors are positive for proposed resource estimation work.

Core from the remaining holes from the recent program continues to be processed and further assay results are expected in the coming weeks.

Once these results have been received the company expects to begin resource estimation work.

Lithium is highly sought after for a range of industrial uses, in particular energy storage where it is a vital component of most popular battery electrolytes and electrodes.

A high charge and power to weight ratio makes lithium ideal for applications where weight is a significant consideration, such as electric vehicles, mobile phones, hand tools, drones and robots.

Quick facts: Jindalee Resources Ltd

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Market: ASX
Market Cap: $11.55 m

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