Australia

Maiden resource for McDermitt makes it a significant sedimentary lithium deposit with plenty of expansion potential

Your ads will be inserted here by

Easy Plugin for AdSense.

Please go to the plugin admin page to
Paste your ad code OR
Suppress this ad slot.

Hot on the heels of last weeks exploration target upgrade, Jindalee Resources Limited (ASX:JRL) has announced a maiden JORC 2012 compliant mineral resource estimate for its McDermitt Sedimentary Lithium Project, located in Oregon, USA.

The resource estimate has been calculated using a cut-off grade of 1,750 parts per million (ppm) lithium (Li), which is close to the upper end of the previous exploration target, indicating that the company appears to be more focused on grade than tonnes.

The inferred resource estimate tonnage of 150mt is at a grade of 1.1% Li2CO3. At this tonnage, the deposit is a mid-tonnage sedimentary lithium deposit, larger than Noram Ventures Zeus Project but smaller than Plateau Energy Metals Falchani deposit (Figure 1, horizontal axis).

In terms of grade, McDermitt currently lies in the middle of the grade curve, above Hawkstone Minings Big Sandy Project and below Falachani (Figure 1, vertical axis). Based on both the tonnage and grade, the contained Li2CO3.is currently in the mid-range compared to its peer group and is of a similar size to the Shavazsay deposit located in the Republic of Uzbekistan (Figure 1, data point size).

Compared to the exploration target, announced last week, this mineral resource estimate is within the range that we would have expected, based on the high cut-off grade. In addition to the resource, there is an exploration target range of 180-330mt at a grade range of 1,800-2,200ppm Li; this is exclusive of the resource estimate.

The lower end of this range has been shown in figure one as a grey halo and the upper end as a black halo. Based on the lower end of theRead More – Source