Jindalee

Drilling To Commence At McDermitt Lithium Project

Jindalee Resources Limited (ASX:JRL) (Jindalee, the Company) is pleased to advise that it has contracted Alford Drilling from Elko, Nevada to undertake a diamond core drilling program at Jindalee’s 100% owned McDermitt Lithium Project in Oregon, USA (McDermitt, Project).


  • Diamond drill rig contracted for McDermitt infill drilling program
  • Drilling to commence 1 November 2023, subject to final approvals
  • Drilling to provide geotechnical information for McDermitt PFS – due for completion 1H CY 2024
  • McDermitt is the largest lithium deposit in the US by contained lithium with 21.5Mt Lithium Carbonate Equivalent (LCE) in Mineral Resource1

The proposed drilling program comprises five HQ triple tube core holes collared within, or immediately adjacent to, conceptual Pit Shell 5 (nominal 20 years)2 and is primarily designed to provide geotechnical information for the Pre-Feasibility Study3 (PFS), as well as confirm data from earlier reverse circulation (RC) drilling (Figure 1). Drilling is expected to commence 1 November 2023, subject to receipt of final approvals from the Bureau of Land Management, with assays from the drilling expected early 2024.

McDermitt has an Indicated and Inferred Mineral Resource Inventory of 3.0 Billion tonnes at 1,340ppm Li for total of 21.5 Million tonnes LCE at 1,000 ppm cut-off grade1 (Table 1). 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.

McDermitt is located at the northern end of the McDermitt Caldera, approximately 35km north of the Thacker Pass deposit, owned by Lithium Americas (TSX: LAC). The Thacker Pass Project (Measured, Indicated and Inferred resources of 19.1Mt LCE4) is fully permitted and currently under construction5.

On 3 October 2023 Lithium Americas announced the separation of its Argentinian assets as Lithium Americas Argentina (TSX: LAAC) and the execution of a second tranche subscription agreement with General Motors (NYSE: GM) whereby GM will purchase US$330M in LAC shares, taking GM’s total investment in LAC to US$650M6. GM is now LAC’s largest shareholder with 9.4% of issued capital and has an agreement with LAC to acquire 100% of lithium carbonate from Phase 1 production (40,000 tpa LCE) at Thacker Pass4. At the close of trading on TSX on 6 October 2023, Lithium Americas had a market capitalisation of C$2.51B (A$2.87B).

Jindalee is very encouraged by recent progress at the Thacker Pass Project, which has positive implications for the potential development of McDermitt.

Figure 1 - Plan view of the McDermitt Lithium Project with 2023 Mineral Resource1 (at 1523mRL), conceptual pit shells (Pit Shell 5: Years 0-20) and proposed drillholes.


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
The Conversation (0)
Lithium periodic symbol and electric vehicle.

7 Biggest Lithium-mining Companies in 2025

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.

Interested investors should cast a wider net to look at global companies — in particular those listed in Australia and China, as companies in both countries have become major players in the industry.

While Australia has long been a top-producing country when it comes to lithium, China has risen quickly to become not only the top lithium processor and refiner, but also a major miner of the commodity. In fact, China was the third largest lithium-producing country in 2024 in terms of mine production, behind Australia and Chile.

Chinese companies are mining in other countries as well, including top producer Australia, where a few are part of major lithium joint ventures. For example, Australia’s largest lithium mine, Greenbushes, is owned and operated by Talison Lithium, which is 51 percent controlled by Tianqi Lithium Energy Australia, a joint venture between China’s Tianqi Lithium (SZSE:002466,HKEX:9696) and Australia’s IGO (ASX:IGO,OTC Pink:IPDGF). The remaining 49 percent stake in Talison is owned by Albemarle (NYSE:ALB). Joint ventures can offer investors different ways to get exposure to mines and jurisdictions.

Keep reading...Show less
Galan Lithium

Galan Lithium


Keep reading...Show less
Jindalee Lithium

Jindalee Lithium


Keep reading...Show less
Lithium batteries and wires with a lithium periodic symbol and rocks on a dark surface.

Green Technology Metals Boosts Market Position through Root Lithium Project

North America-focused Green Technology Metals (ASX:GT1,OTC Pink:GTMLF) has completed an updated preliminary economic assessment (PEA) for its Root lithium project in Ontario, Canada.

Green Technology Metals said that the PEA evaluated Root on a standalone basis, while the December 2023 PEA combined Root with the company's advanced Seymour lithium project. The new PEA took into consideration the recently updated Root Project MRE, revised pit optimisations and mine development options, and changed lithium market conditions.

“(The PEA confirms Root) as a technically and economically robust standalone operation,” Managing Director Cameron Henry said in an April 9 release. “With a longer mine life, reduced upfront capital requirements, and strong economics, Root is well-positioned to support GT1’s broader strategy of establishing a vertically integrated lithium supply chain in Ontario.”

Keep reading...Show less
CleanTech Lithium

CleanTech Lithium


Keep reading...Show less

Latest Press Releases

Related News

×