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Jindalee Lithium (ASX:JLL,OTCQX:JNDAF) is an Australia-based exploration and development company advancing North America\u2019s largest lithium deposit. After a spinout of its Australian assets, Jindalee has become a pure-play lithium company focused exclusively on its promising 100-percent-owned McDermitt project. Jindalee recognises the vast opportunity for lithium projects in the US as the country progresses towards its sustainable energy transition and developing a robust domestic supply chain for critical minerals.<\/p>\n
As the US strives to transition to clean energy, demand for lithium will continue to increase as this critical mineral is necessary to achieve the country\u2019s net-zero goals. With its favorable mining policies and infrastructure, the US actively supports the advancement of new projects to strengthen its domestic supply chain.<\/p>\n<\/div>\n
Jindalee\u2019s McDermitt asset, located in southeast Oregon, contains a unique type of lithium mineralisation. Most lithium projects in North America are lithium brine or pegmatite deposits; however, the McDermitt project is an unconventional sediment-hosted lithium asset.<\/p>\n
Sediment-hosted lithium deposits such as McDermitt are long-life assets with low strip ratios and low mining costs. Jindalee can leverage this advantage over other lithium assets, both in terms of reaching production faster and reducing operating expenses.<\/p>\n
There is currently no commercially operating sediment-hosted lithium project in North America. Two recently announced projects, however, are under development and demonstrate McDermitt\u2019s future trajectory as both companies move toward production.<\/p>\n
The 2023 mineral resources estimate (MRE) for McDermitt contains a combined indicated and inferred mineral resource inventory of 3 billion tons at 1,340 parts per million (ppm) lithium for a total of 21.5 million tons (Mt) lithium carbonate equivalent (LCE) at 1,000 ppm cut-off grade. 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, with the deposit remaining open to the west and south.<\/p>\n<\/div>\n
In June 2023, Jindalee commenced a pre-feasibility study (PFS) on the McDermitt Lithium Project appointing Fluor Corporation as lead engineer. The company expects completion of the PFS by mid-2024. Jindalee also announced initial metallurgical results from acid leaching of the beneficiated samples of McDermitt ore. Lithium extraction from composite samples averaged 93 percent (250 micron (\u00b5m)) and 94 percent (75 \u00b5m) while lithium extraction from all units exceeded 98 percent with higher acid additions.<\/p>\n
In a move that signifies the US government\u2019s support of the McDermitt lithium project, the US Department of Energy\u2019s Ames National Laboratory signed a Cooperative Research and Development Agreement with Jindalee\u2019s subsidiary HiTech Minerals to develop cutting-edge extraction methods for the McDermitt project. The Ames National Laboratory spearhead the DOE\u2019s Critical Materials Innovation Hub<\/p>\n
An experienced management team, with the right blend of experience and expertise in geology, corporate administration and international finance, leads Jindalee to fully capitalise on the potential of its assets.<\/p>\n<\/div>\n
Jindalee Lithium is a pure-play lithium exploration and development company focusing on its flagship McDermitt lithium project, currently the largest lithium deposit in North America.
\nThe United States has ambitious electrification goals but lacks the critical minerals to reach them. Jindalee aims to strengthen the North American supply chain to enable the country to reach net-zero emissions targets.
\nGlobally, most of the lithium is currently sourced from either pegmatite or lithium brine deposits. The company\u2019s McDermitt deposit, however, is sediment-hosted, an emerging style of lithium deposit with the potential to be a long-life, low-cost source of lithium.
\nThere are presently no sediment-hosted lithium assets in North America that have reached production. Jindalee is ideally positioned to help fill this void in the market.
\nOther companies in North America are moving towards production, and their progress indicates Jindalee\u2019s future trajectory.
\nAn experienced management team leads Jindalee towards capitalising on the potential of its assets.<\/p>\n<\/div>\n
The McDermitt Project is located in Malheur County on the Oregon-Nevada border and is approximately 35 kilometres west of the town of McDermitt. The 100-percent-owned asset covers 54.6 square kilometres of claims at the northern end of the McDermitt volcanic caldera. Following positive results from its 2022 drill campaign, the resource at McDermitt has increased to 21.5 Mt LCE, making McDermitt the largest lithium deposit in North America.<\/p>\n
Rare Sediment-hosted Lithium Deposits<\/strong>: The McDermitt asset supports low-cost mining operations due to its flat-lying sediments. This type of lithium deposit is amenable to low-cost mining operations, while still producing excellent metallurgical results. Ian Rodger is a qualified mining business executive with almost 15 years of experience in various roles including as a mining engineer for Rio Tinto across two large greenfield mine developments, before successfully transitioning into mining corporate finance where he held Executive and Director positions at RFC Ambrian overseeing origination and management of numerous mandates across a range of corporate advisory roles. Rodger was the project director for Oz Minerals (ASX:OZL) where he made significant contributions to successfully define the value potential of the West Musgrave nickel\/copper province through the delivery of a portfolio of growth studies. Most notably, he led technical, market and partnership development workstreams, successfully confirming value potential for producing an intermediate Nickel product for the battery value chain.<\/p>\n Rodger holds a Bachelor of Mining Engineering from the University of Queensland, a Masters of Mineral Economics from Curtin University and is also a graduate of the Australian Institute of Company Directors and member of the Australasian Institute of Mining and Metallurgy.<\/p>\n Lindsay Dudfield is a geologist with over 40 years of experience in multi-commodity exploration, primarily within Australia. He held senior positions with the mineral divisions of Amoco and Exxon. In 1987, he became a founding director of Dalrymple Resources NL and spent the following eight years helping acquire and explore Dalrymple\u2019s properties, leading to several greenfield discoveries. In late 1994, Lindsay joined the board of Horizon Mining NL (Jindalee Lithium\u2019s predecessor) and has been responsible for managing Jindalee Lithium since inception. Lindsay is a member of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists, the Geological Society of Australia and the Society of Economic Geologists. He is also a non-executive director of Jindalee spin-out companies Energy Metals (ASX:EME), Dynamic Metals (ASX:DYM) and Alchemy Resources (ASX:ALY).<\/p>\n Wayne Zekulich was appointed to the board as Chair on 1 February 2024. He holds a Bachelor of Business and is a fellow of the Institute of Chartered Accountants. Zekulich is a consultant and non-executive director who has substantial experience in advising, structuring and financing transactions in the infrastructure and resources sectors. He was previously the head of Rothschild in Perth, chief financial officer of Gindalbie Metals Limited, chief development officer of Oakajee Port and Rail and a consultant to a global investment bank. Currently, he is chair of Pantoro Limited (ASX:PNR) and non-executive director of the Western Australian Treasury Corporation. In the not-for-profit sector, he is the past chair of the Lester Prize and is a mentor in the Kilfinan program.<\/p>\n Darren Wates is a corporate lawyer with over 23 years of experience in equity capital markets, mergers and acquisitions, resources, project acquisitions\/divestments and corporate governance gained through private practice and in-house roles in Western Australia. Wates is the founder and principal of Corpex Legal, a Perth-based legal practice providing corporate, commercial and resources related legal services, primarily to small and mid-cap ASX listed companies. In this role, he has provided consulting general counsel services to ASX listed company Neometals (ASX:NMT) since 2016, having previously been employed as legal counsel of Neometals. Wates holds Bachelor\u2019s degrees in Law and Commerce and a Graduate Diploma in Applied Finance and Investment.<\/p>\n Paul Brown has over 23 years of experience in the mining industry, most recently with Mineral Resources (ASX:MIN) where he was chief executive \u2013 lithium, and chief executive \u2013 commodities. Brown has held senior operating roles with Leighton, HWE and Fortescue (ASX:FMG) and has a strong track record in technical leadership, project\/studies management, and mine planning and management. Brown is currently CEO of Hastings Technology Metals (ASX:HAS). He holds a Master in Mine Engineering.<\/p>\n Brett Marsh is an AIPG certified professional geologist and a registered member of the Society for Mining, Metallurgy and Exploration (SME) with over 25 years of diverse mining and geological experience. He has worked for and held senior leadership roles for Kastan Mining, Luna Gold, Kiska Metals, Newmont, Freeport-McMoRan, Phelps Dodge, ASARCO and consulted to deliver numerous NI 43-101 technical reports. Marsh has demonstrated the ability to deliver results in culturally diverse and geographically difficult environments, such as Brazil, Peru, Chile, Democratic Republic of Congo, Ghana, Tanzania, Indonesia, Australia, and has also worked in remote areas of Alaska. He has managed all phases of the mining lifecycle including greenfield and brownfield exploration, project development (including preliminary economic assessments, pre-feasibility and feasibility), project construction, mine operations, and environmental. He successfully led multi-cultural teams to develop business processes and implementation plans for many mine development and operational projects.<\/p>\n Carly Terzanidis has 20 years of prior experience in the financial services industry, having been employed by Euroz Hartleys, DJ Carmichael and Shaw and Partners. Terzanidis\u2019 recent experience has been in corporate services and in the role of company secretary for resources-focused entities. Terzanidis acts as company secretary for Alchemy Resources (ASX:ALY), Kalamazoo Resources (ASX:KZR) and Viridis Mining and Minerals (ASX:VMM). Terzanidis holds a Bachelor of Commerce with majors in Accounting and Corporate Administration and a Graduate Diploma in Applied Corporate Governance.<\/p>\n<\/div>\n Overview Jindalee Lithium (ASX:JLL,OTCQX:JNDAF) is an Australia-based exploration and development company advancing North America\u2019s largest lithium deposit. After a spinout of its Australian assets, Jindalee has become a pure-play lithium company focused exclusively on its promising 100-percent-owned McDermitt project. Jindalee recognises the vast opportunity for lithium projects in the US as the country progresses towards […]<\/p>\n","protected":false},"author":0,"featured_media":12534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-12533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/12533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=12533"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/12533\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/12534"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=12533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=12533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=12533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nResource Increased by 62 percent early 2023<\/strong>: Compilation of the 2022 drilling results saw the estimated indicated and inferred resources at McDermitt increase to 3 billion tons at 1,340 ppm lithium, a 62 percent increase in contained lithium. The updated resource released by the company contains a combined indicated and inferred total of 21.5 Mt LCE at 1,000 ppm cut-off grade.
\nFluor recommended processing route<\/strong>: In March 2023, US engineering group Fluor reviewed all testwork undertaken at McDermitt and recommended beneficiation and acid leaching as the optimal processing route.
\nHighly encouraging metallurgical testwork<\/strong>: Results from beneficiation and acid leaching tests have exceeded expectations. Beneficiation testwork completed in late 2023 (on sample representing a nominal life-of-mine average feed) recovered 92 percent of the lithium to leach feed and rejected 25.3 percent of the mass at a cut size of 250 \u00b5m. Additionally the acid leach test work announced in early 2024 demonstrated very high lithium extraction rates on beneficiated ore. Specifically, the calculated lithium extraction for a composite sample using 250 \u00b5m leach feed was 92.9 percent which compares favourably with the extraction rate (94 percent) achieved through testwork from the finer (75 \u00b5m) leach feed using 500 kg\/t acid. Further testwork is now underway.
\nPFS in progress<\/strong>: Jindalee has appointed Fluor Corporation to commence the PFS for McDermitt, set to be completed by mid-2024.<\/p>\n<\/div>\n Management Team <\/h3>\n
Ian Rodger \u2013 Chief Executive Officer<\/h3>\n
Lindsay Dudfield \u2013 Executive Director<\/h3>\n
Wayne Zekulich \u2013 Non-executive Chair<\/h3>\n
Darren Wates \u2013 Non-executive Director<\/h3>\n
Paul Brown \u2013 Non-executive Director<\/h3>\n
Brett Marsh \u2013 VP Geology and Development (US)<\/h3>\n
Carly Terzanidis \u2013 Company Secretary<\/h3>\n