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.