Quarterly Activities Report - December 2023

In February 2023, Jindalee Lithium Limited (Jindalee or the Company) announced an updated Mineral Resource Estimate (MRE) at Jindalee’s 100% owned McDermitt Lithium Project (USA) (Figure 1)¹.

• Jindalee management team strengthened with appointment of Ian Rodger as CEO and Wayne Zekulich as Non-Executive Chair
• Shareholders approved the Company being renamed Jindalee Lithium (ASX: JLL)
• Exploration Target (announced November 2023) highlighted further upside at McDermitt
• Exceptional metallurgical testwork results to feed into McDermitt PFS

McDermitt Lithium Project (Jindalee 100%)

The 2023 MRE for McDermitt contains a combined Indicated and Inferred Mineral Resource Inventory of 3.0 Billion tonnes at 1,340 ppm lithium (Li) for a total of 21.5 Million tonnes lithium carbonate equivalent (LCE) at 1,000 ppm cut-off grade. At 21.5 Mt LCE, McDermitt is the largest lithium deposit in the United States (US) by contained lithium in Mineral Resource, and a globally significant resource (Table 1), with the deposit remaining open to the west and south (Figure 1).

Table 1 – Summary of 2023 McDermitt MRE1 at the reporting cut-off of 1,000 ppm. Note: totals may vary due to rounding.

Exploration Target

On 21 November 2023 Jindalee announced an independently estimated Exploration Target Range (ETR) at McDermitt of 300 – 700 Million tonnes at 1,100 – 1,400 ppm Li (at 1,000ppm Li cut-off) (Table 2, Figure 1)².

The Exploration Target surrounds and abuts the 2023 MRE and is extrapolated from 62 holes drilled at McDermitt from 2018 to 2022. Material for the MRE extends to a maximum distance of 1,200m from the nearest hole, with the ETR extending to a maximum of 1,500m from the nearest hole (Figure 1).

Cautionary Statement

The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource for all target areas reported. It is uncertain if further exploration will result in the estimation of a Mineral Resource.

Table 2 – Summary of Exploration Target Range at cut-off of 1000ppm. LCE calculated using the midpoint of the range.

Furthermore, sampling of weathered sediments exposed in drainages west and south of the Mineral Resource and Exploration Target areas has returned strongly anomalous lithium values, indicating excellent potential to locate additional lithium mineralisation in these areas over and above the Exploration Target (Figure 1).

Click here for the full ASX Release

This article includes content from Jindalee Lithium 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.