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)
A battery with Australia flag.

4 Best-performing ASX Lithium Stocks of 2025

Global demand for lithium presents a significant opportunity for Australia, which is home to many ASX lithium mining stocks as the world's top lithium producer.

Australia’s abundant lithium reserves and strong mining sector, position the country as a key player in the battery value chain into the 2030s. However, rapid electric vehicle (EV) market growth projections drove increased lithium mining rates, leading to a global surplus.

Against that backdrop, Australia’s lithium sector faced headwinds in Q1 2025 due to falling global lithium prices and continued market oversupply.

Keep reading...Show less
A sack of US money.

California Touts US$540 Billion Salton Sea Lithium Discovery

Scientists have discovered an estimated US$540 billion worth of lithium beneath California’s Salton Sea, a finding that could reshape the global energy market and reduce US reliance on foreign lithium supply.

The Salton Sea, located in Southern California’s Imperial County, has long been considered an environmental concern due to its receding shoreline and rising air pollution.

Now, researchers funded by the US Department of Energy have confirmed the area holds approximately 18 million metric tons of lithium — far more than previous estimates of 4 million metric tons.

Keep reading...Show less
Lithium periodic symbol and Canadian flag.

Top 5 Canadian Lithium Stocks of 2025

The lithium market continued to battle headwinds during the first quarter of 2025 as residual oversupply weighed on prices, pushing them to a four year low.

Weaker-than-expected demand to start the year also added pressure to the oversupplied market, resulting in the lithium carbonate CIF North Asia price to fall below US$9,550 per metric ton, its lowest point since 2021.

Analysts have suggested the persistent downturn is the signaling of a market bottom. This theory is further supported by a projected production reduction that will help absorb market oversupply.

Keep reading...Show less
Green blocks with leaves on them push purple blocks with "CO2" written on them.

Funding the Energy Transition: The Role of Public and Private Finance in Building Supply Chains

The energy transition demands substantial funding as participants look to build out infrastructure and supply chains, but experts say new solutions are emerging to help navigate this landscape.

During the "Financing the Energy Transition" panel at the Benchmark Summit, participants discussed the role of government and public sector investment, as well as the outlook for Canada's electric vehicle (EV) supply chain.

Moderated by Adam Webb, head of battery raw materials at Benchmark Mineral Intelligence, the discussion at the Toronto-based event opened with a snapshot of Canada’s EV battery supply chain buildout.

Keep reading...Show less
International Lithium Chairman and CEO John Wisbey.

International Lithium Plans PEA on Rubidium Resource at Raleigh Lake Project, CEO Says

John Wisbey, CEO of International Lithium (TSXV:ILC), discusses the company's strategic sale of its Irish lithium property, progress on the Raleigh Lake lithium-rubidium project in Canada and expansion efforts in Zimbabwe.

Latest Press Releases

Related News

×