The Conversation (0)
Jindalee Resources Limited (Jindalee, the Company) is pleased to provide its Quarterly Activities Report for the period ending 30 September 2023.
- Excellent head assays from McDermitt metallurgical testwork
- McDermitt Pre-Feasibility Study (PFS) progressing well (on time and on budget)
- Priority Offer to Jindalee shareholders closed 27 October 2023, raising $0.6M (before costs)
- The Company to be renamed Jindalee Lithium Ltd, subject to shareholder approval at the forthcoming AGM
US LITHIUM
McDermitt Lithium Project (Jindalee 100%)
In February 2023, Jindalee Resources Limited (Jindalee or the Company) announced an updated Mineral Resource Estimate (MRE) at Jindalee’s 100% owned McDermitt Lithium Project (US) following drilling 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), with the deposit remaining open to the west and south (Figure 1).
Table 1 – Summary of 2023 McDermitt Mineral Resource Estimate1 at the reporting cut-off of 1000ppm. Note: totals may vary due to rounding
Metallurgical Testwork
In March 2023 Jindalee announced that global engineering, procurement, construction and maintenance (EPCM) company Fluor Corporation (NYSE: FLR) (Fluor) had reviewed metallurgical testwork undertaken at McDermitt and had determined that acid leaching with ore beneficiation (to upgrade the leach head grade) delivered the lowest operating costs and best financial outcome among the alternatives considered2.
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
Spodumene Pegmatite Discovery at Esperança Project in Brazil Yields LIBS Results up to 4.04% Li2O
The discovery has been made during early-stage exploration programs which include project scale geological mapping, ground reconnaissance, and soil sampling. These early-stage programs remain ongoing with further results to come over the coming weeks. The discovery supports the Company’s exploration thesis and uplifts the remaining prospectivity across all three project areas: Canabrava, Caraíbas and Esperança projects.
HIGHLIGHTS
- Artisanal excavations reveal a lithium bearing pegmatite with elongate crystalline spodumene crystals up to 50cm in length
- LIBS (Laser Induced Breakdown Spectroscopy) results of spodumene crystals return up to 18,800 ppm Lithium, or 4.04% Li2O
- Discovery provides walk up drill target for fully funded drilling campaign to begin Q1 2025
- Soil sampling and geological mapping continues across the Esperança, Canabrava and Caraíbas projects with further results due over the coming weeks
Lightning Minerals Managing Director Alex Biggs said, “I am highly encouraged by these results from Brazil. As I have spoken about, as a team we are committed to discovery and completing our works in a diligent and structured manner, the proof of which is in these results. The Company is progressing its projects in Brazil quickly and cost effectively and generating significant results for the business which we feel will be transformational. I am proud of and congratulate our geology teams both in Australia and Brazil who have conducted themselves in a professional and astute manner which has been crucial in making a discovery such as this. This is a great first step for us in Brazil and is testament to the prospectivity of the region as I have discussed previously. We look forward to drilling in Q1 2025 and further results to come imminently from all three project areas in Brazil. I would also like to thank our shareholders who have supported our vision and exploration strategy. As a Company we are firmly committed to the lithium thematic and firmly committed to Brazil where we see significant potential moving forwards”.
Lithium Discovery at Esperança Project
During geological mapping fieldwork conducted in mid-November 2024 field geologists encountered a previously unknown historical artisanal mine within the Esperança project area. The site presented with a small access which opened into a set of sub vertical shafts sunk several meters into schists of the Salinas formation. Upon investigation the geology team has discovered pegmatitic lithologies in the walls of the excavations, of which the suite of minerals indicates inclusion of macro crystalline (up to 50cm) elongate crystals of spodumene as shown in Figure 1(a) and Figure 1(b).
Figure 1a (left): Brazilian geologist Vitor Araujo Alves showing the spodumene rich portion of the zoned pegmatite discovered at the Esperança Property. Figure 1b (right): Large elongate spodumene crystals (Spd) up to 50cm in length showing homogeneous growth patterns amongst a quartz (Qtz) and Feldspar (Fdsp) rich matrix
The Company’s geologists have collected selective mineral specimen grab samples in sample VLM207 (Figure 2). Six separate minerals have been analysed via a SciAps Z-903 hand-held LIBS (Laser-Induced Breakdown Spectroscopy) device which has returned lithium endowment of up to 18,800 ppm lithium, which equates to a lithium oxide percentage of 4.04% Li2O.
The SciAps Z-903 handheld LIBS device is considered a qualitative analysis technique only and is used as an in-field preliminary check to establish if a mineral is lithium-bearing. Certified laboratory assays are required to provide accurate, quantitative analysis. A table of the six SciAps Z-903 handheld LIBS results testing the spodumene crystals is shown in Table 1. A full table of results are presented in Appendix 2, Table 2.
While the current field observations indicate that the mineral identified is a lithium-bearing mineral, the percentage of lithium produced from the LIBS analyser does not correlate to an accurate quantitative measurement of the lithium concentration of the mineral itself, or to the overall grade of the pegmatite.
Click here for the full ASX Release
This article includes content from Lightning Minerals, 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.
