Quarterly Activities Report - June 2023

Jindalee Resources Limited (ASX:JRL) (Jindalee, the Company) is pleased to present its Quarterly Report.

• Jindalee commences a Pre-Feasibility Study (PFS) on the globally significant McDermitt Lithium Project
• Leading global EPCM company Fluor Corporation appointed as lead engineer for PFS
• Selection of samples for metallurgical testwork to support PFS completed
• Positive industry developments and government support continue to bolster the outlook for the lithium sector
• Jindalee held $8.3M in cash and securities at 30 June 2023

McDermitt Lithium Project (Jindalee 100%)

In late 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.

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

Table 1 – Summary of 2023 McDermitt Mineral Resource Estimate1 at the reporting cut-off of 1000ppm. Note: totals may vary due to rounding

Figure 1 - Plan view of the McDermitt Lithium Project with drill collars and 2023 Mineral Resource1 (at 1523mRL).

Metallurgical Testwork - Jindalee

There are two potential pathways for the extraction of lithium from sedimentary deposits such as McDermitt: sulphuric acid leaching of both whole or beneficiated ore, and alkali salt (sulphation) roasting. Initial work completed by Jindalee focussed on beneficiation and sulphuric acid leaching, similar to the flowsheet proposed by the nearby Thacker Pass Project², with alkali salt roasting also investigated as a potential alternative processing route through 2022.

Encouraging results were returned from both acid leaching and alkali salt roasting and in late 2022 Jindalee engaged global engineering, procurement, construction and maintenance (EPCM) company Fluor Corporation (NYSE: FLR) (Fluor) to undertake a review of the metallurgical testwork undertaken by Jindalee at McDermitt.

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.