ENERGY MINERALS

McDermitt now biggest lithium deposit in US: Jindalee

ASX-listed Jindalee Resources claims it has the largest lithium deposit in the US after upgrading the McDermitt resource in Oregon to more than 10.1 million tonnes of contained lithium carbonate equivalent.

 McDermitt lithium resource now the biggest in the US

McDermitt lithium resource now the biggest in the US

The increased estimate is a function of drilling late in 2020 and being able to beneficiate the ore to achieve a 60% increase in head grade, allowing the cut-off grade to be dropped from 1750ppm to 1000ppm lithium.

McDermitt has now eclipsed Lithium Americas' Thacker Pass deposit containing 8.3Mt LCE (at a 2000ppm lithium cut-off grade). 

The 1.43 billion tonnes at 1320ppm lithium deposit remains open with an exploration target range between 1.3 to 2.3 billion tonnes at 1100 to 1500ppm lithium.

Further drilling is proposed for the September quarter.

Jindalee raised A$9 million last month when it issued new shares priced at $1.50 each.

Shares in Jindalee were up 41.3% to $2.60 in morning trade, capitalising the company at $133 million.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.