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Jindalee Resources halted ahead of preliminary scoping study announcement

The company’s shares will remain in a trading halt until Thursday, September 16, or when an announcement is released to the market.

Jindalee Resources Ltd - Jindalee Resources halted ahead of preliminary scoping study announcement

Jindalee Resources Ltd (ASX:JRL) has been granted a trading halt by the ASX with the company preparing an announcement in relation to a preliminary scoping study for the company’s McDermitt Lithium Project in the US.

The halt will remain in place until the start of regular trade on Thursday, September 16, or until an announcement is released to the market, whichever occurs earliest.

Shares last traded at A$3.29, while the company’s market cap is approximately A$182.6 million.

Maynard’s Dam gold potential

The company and joint venture partner Torque Metals recently received gravity geophysics data from SensOre Ltd highlighting the gold potential of Maynard’s Dam Prospect.

Maynard’s Dam lies north of the Paris and HHH Gold Projects in the Coolgardie Goldfields of WA.

Historical scout drilling records at Maynard’s Dam indicate drilling intercepts of up to 3 metres at 28 g/t gold.

A desktop review, compilation of historical exploration activity and reprocessed newly available gravity geophysics at 100 metres x 200 metres spacing undertaken by SensOre provide enhanced information on the lithologies and structures controlling mineral potential in the area.

Data will be used to assist in identifying drill site locations on the DPT® 1 generated target.

According to SensOre, targets predicted by the DPT® system are interpreted as potential analogues for both St Ives (Gold Fields) and Norseman (Norseman Gold & Pantoro JV) style gold systems consisting of intrusion-related and structurally controlled auriferous quartz veins.

Quick facts: Jindalee Resources Ltd

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Price: 2.33 AUD

Market Cap: $124.43 m

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Jindalee Resources talks McDermitt scoping study and drill plans

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...

on 23/6/21

2 min read