The Conversation (0)
April 28, 2023
Jindalee Resources Limited (ASX:JRL) (Jindalee, the Company) has released its Quarterly Cash Flow Report.
- McDermitt resource increases to 3.0 Bt @ 1340 ppm Li (21.5 Mt LCE) at 1000ppm cut‐off grade
- McDermitt is now the largest lithium deposit in North America by contained lithium, and a strategically important domestic source of lithium for the US battery industry
- Fluor review recommends Beneficiation and Acid Leaching as preferred processing route for McDermitt; further testwork underway
- MOU signed with POSCO; POSCO to undertake $2M of metallurgical testwork
- Spin out of Jindalee’s Australian assets via Dynamic Metals Limited (ASX: DYM) completed mid‐January 2023; Jindalee is now a pure play US lithium company
- Jindalee held $6.6M in cash and securities at 31 March 2023
US LITHIUM
McDermitt (Jindalee 100%)
Resource Update
On 27 February 2023 Jindalee Resources Limited (Jindalee or the Company) announced an updated Mineral Resource Estimate (MRE) at the McDermitt Lithium Project (US) following a 21 hole drilling program completed in October 2022 (Figure 1)1,2,3.
The program was designed to increase confidence in the mineral resource to allow for conversion of Inferred Mineral Resource to Indicated, as well as extending the deposit to the west. Significant widths of lithium mineralisation were intersected, with highlights from the program3 including:
- MDD025: 182.2m @ 1197ppm Li from 21.4m
- MDD028: 131.6m @ 1219ppm Li from 21.9m
- MDRC024: 68.6m @ 1669ppm Li from surface
- MDRC025: 50.3m @ 1512ppm Li from surface
The 2023 combined Indicated and Inferred Mineral Resource update represents an overall increase (from 20224) in tonnage of 65%, with a 2% decrease in grade for a 62% increase in contained lithium. Importantly, the Indicated Mineral Resource increased (by tonnage) by 138% with an overall 131% increase in contained metal at this higher confidence classification (Table 1).
Click here for the full ASX Release
This article includes content from Jindalee Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
JRL:AU
Alert Options
No alert set
INN Article Notification
Alert Option
You will be notified when this event occurs. No additional settings needed.
2h
Infographic: Batteries Absorb 88 Percent of Global Lithium Supply
Lithium has effectively transformed into a single-use commodity, with rechargeable batteries now consuming 88 percent of the global supply.According to data from the US Geological Survey (USGS) Mineral Commodity Summaries 2026, the rapid scaling of electric vehicle (EV) manufacturing and energy... Keep Reading...
08 June
American Battery Technology Reclaims DOE Lithium Grant After Successful Appeal
American Battery Technology Company (NASDAQ:ABAT) announced that it has successfully appealed the US Department of Energy’s (DOE) termination of a US$115 million grant, securing full reinstatement of the federal funding for its commercial-scale lithium refinery in Nevada.Under the reversal, the... Keep Reading...
27 May
Why Global EV Sales Are Telling Three Different Stories in 2026
New data from Benchmark Mineral Intelligence shows that the global electric vehicle (EV) market fractured along regional lines in early 2026. While global sales reached 5.6 million passenger EVs through April — a modest 6 percent year-on-year increase — that headline number masks a stark... Keep Reading...
21 May
7 Biggest Lithium-mining Companies in 2026
For a long time, most of the world's lithium was produced by an oligopoly of US-listed producers. However, the sector has transformed significantly in recent years.While Australia has long been a top-producing country when it comes to lithium, China has risen quickly to become not only the top... Keep Reading...
21 May
Core Lithium Restarts Finniss, Awards US$274 Million Underground Contract
Core Lithium (ASX:CXO,OTCPL:CXOXF) has officially restarted physical mining at its flagship Finniss operation in Australia’s Northern Territory, initiating open-pit excavation while concurrently awarding a US$274 million contract to anchor the site's long-term underground future.At the surface... Keep Reading...
19 May
MinRes to Reboot Bald Hill Lithium Mine to Capitalise on Price Rally
Mineral Resources (MinRes) (ASX:MIN,OTCPL:MALRF) will restart its Bald Hill lithium mine in Western Australia following an 18 month freeze, moving to capitalise on a 50 percent year-to-date rebound in lithium prices.The Perth-based miner announced on Monday (May 18) that it will bring the fully... Keep Reading...
Latest News
Interactive Chart
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00