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Jindalee Resources Ltd.
Summary
| Project: | McDermitt | |
|---|---|---|
| Deposit: | McDermitt | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 11/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 20-11-2018: Jindalee Resources Ltd. announces a Resource Estimation report for its McDermitt deposit at the McDermitt project. Exploration target for McDermitt project. Note that the potential quantity and grade of the Exploration Target is conceptual in | |
| Resources: | Exploration Target: 40 - 210Mt @ 1800-2200ppm Li at 1500ppm Li cut off | |
| CP/QP: | [Overall Report]: Arnold van der Heyden (H&S Consultants Pty Ltd.) | |
| ABSTRACT: | Note that the potential quantity and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Jindalee Resources Limited (’Jindalee’ or ‘Company’) is pleased to provide the following update on its 100% owned McDermitt Project, approximately 25km west of the town of McDermitt on the Nevada-Oregon border (Figures 1, 2). In September 2018 Jindalee completed four vertical diamond drill holes to an average depth of 90m to gain an understanding of the thickness and grade of lithium mineralisation recognised from previous surface sampling at McDermitt1 (Figure 3, Table 1). Drilling confirmed the results from initial surface sampling, with widespread lithium mineralisation in several zones within flat-lying, lithium bearing sediments2,3,4. This data has been used in the estimation of an Exploration Target for McDermitt. Broad scale mapping of the project area undertaken by the Company has confirmed the flat lying nature of the lithium bearing sediments, and the excellent exposure that allows individual marker beds to be traced over large distances, both on the ground during mapping and in aerial photography. This has allowed correlation of the individual sedimentary units between drill holes (Figure 4) and been used as the basis for the estimation of an ETR by external consultants H & S Consultants Pty Ltd. The ETR at various cut off grades of lithium is presented in Table 1 below. | |
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