Jindalee Resources advances US lithium assets with drilling programs and McDermitt scoping study
- Jindalee Resources has drill spinning at Clayton North Lithium Project in US
- Jindalee Resources forges ahead with McDermitt Lithium Project scoping study and plans Clayton North lithium exploration drilling
- Jindalee Resources talks McDermitt scoping study and drill plans
Quick facts: Jindalee Resources Ltd
Price: 2.66 AUD
Market Cap: $142.05 m
About the company
Jindalee Resources Limited (ASX:JRL) is an exploration company with direct and indirect exposure to lithium, gold, iron ore, uranium and magnesite through projects generated by its technical team.
The company’s strategy is to acquire prospective ground inexpensively, add value through low-cost exploration and introduce partners to assist in funding further progress, or fund this activity via a dedicated company in which Jindalee retains a significant interest.
Jindalee owns 100% of the flagship McDermitt Lithium Project which is spread over 34 square kilometres and has the potential for long-life, low-cost mining operations.
How it is doing
Jindalee Resources Limited (ASX:JRL) has started a diamond drilling program at the Clayton North Lithium Project in Nevada, one of its two 100%-owned lithium projects in the USA.
The program is designed to follow up anomalous lithium results from surface sampling undertaken by Jindalee in 2018 from which results of up to 930ppm lithium were detected at the surface.
Clayton North is just 22 kilometres north of Albemarle Corporation’s (NYSE:ALB) Silver Peak lithium brine operation, which is the only producing lithium mining operation in the US.
Jindalee’s Clayton North area hosts lithium-bearing sediments of the Tertiary Esmeralda Formation.
Jindalee Resources Ltd (ASX:JRL) non-executive chairman Justin Mannolini and executive director Trish Farr have demonstrated their confidence in the company’s lithium strategy with the early exercise of unlisted options.
Mannolini exercised 500,000 unlisted options and now holds 650,000 shares in a direct interest and 109,692 in an indirect interest.
Insight: Jindalee Resources forges ahead with McDermitt Lithium Project scoping study...
Jindalee Resources Ltd (ASX:JRL) is undertaking mining, engineering and geotechnical components of a scoping study for the advanced McDermitt Lithium Project in the US state of Oregon while planning exploration drilling at Clayton North Lithium Project in Nevada.
The market will be advised of scoping study outcomes as guided by ASX and ASIC reporting frameworks in the September quarter.
What management says
Jindalee Resources Ltd's (ASX:JRL) Lindsay Dudfield and CEO Karen Wellman discuss with Proactive's Andrew Scott the latest on its scoping study for the McDermitt Lithium project in the US state of Oregon. Exploration drilling is also planned at the Clayton North Lithium project in Nevada. After successfully demonstrating the ability to upgrade lithium content by 60% through attrition scrubbing, Jindalee has commissioned test-work to be completed on bulk samples collected in the 2020 drill program.
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