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Jindalee Resources Ltd.
Summary
| Project: | McDermitt | |
|---|---|---|
| Deposit: | McDermitt | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 10/31/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 31-10-2018: Jindalee Resources Ltd. announces an Exploration/Drilling Update report for its McDermitt deposit at the McDermitt project. Drilling results incl. 54m @ 0.36% Li2O from 28m. Jindalee Resources Limited (’Jindalee’ or ‘Company’) is pleased to an | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Pip Darvall, Lindsay Dudfield (Internal;Independent) | |
| ABSTRACT: | Jindalee Resources Limited (’Jindalee’ or ‘Company’) is pleased to announce further assay results just received from its initial drill program at McDermitt. The 100% owned McDermitt Project comprises 242 placer mineral claims covering approximately 4840 acres (19.6 km2 ) of Bureau of Land Management (‘BLM’) managed land, approximately 25km west of the town of McDermitt on the Nevada-Oregon border (Figures 1, 2). Four vertical diamond drill holes were completed by Jindalee in September to an average depth of 90m to gain an understanding of the thickness and grade of lithium mineralisation previously encountered in surface sampling1 (Figure 3, Table 1). Drilling confirmed flat-lying, lithium bearing sediments up to 92m thick including tuffaceous sandstones, siltstones and mudstones. The sedimentary package remains open at depth, with basement not reached in the recent program. Results from the first hole (MDD-001) indicated the presence of three distinct zones of lithium mineralisation2 . The additional assays just received from MDD-004, located approximately 2km to the northeast, show considerably thicker and higher grades of lithium mineralisation viz. up to to 22m @ 2187 ppm Li, including 6m @ 3113 ppm Li and 12m @ 2781 ppm Li (Table 2, Figure 4). The average grade of 1415 ppm Li over the entire 80.4m of core recovered from hole MDD-004 highlights the potential scale of the system at McDermitt (note no core recovery was achieved from 0-2.5m depth). These broad zones of lithium mineralisation offer considerable encouragement that the McDermitt Project has the potential to host similar grades and thicknesses of lithium mineralisation to those reported for the Thacker Pass Project held by Lithium Americas (TSXV: LAC) along strike to the south (Figure 2). The Thacker Pass Project hosts the highest grades of the known sediment hosted lithium deposits in the US and is one of the most advanced, having recently completed a Pre-Feasibility Study | |
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