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jindalee resources ltd (JRL) Details

Jindalee Resources Limited engages in the exploration of mineral properties. The company explores for lithium, magnesite, gold, diamond, nickel, iron, uranium, and base metals. It holds interests in various tenements located in the United States, Tasmania, and Western Australia. The company is based in West Perth, Australia.

jindalee resources ltd (JRL) Top Compensated Officers

CEO, MD & Director
Total Annual Compensation: A$1.8M
Executive Director
Total Annual Compensation: A$138.3K
Executive Director & Joint Company Secretary
Total Annual Compensation: A$105.1K
Compensation as of Fiscal Year 2018.
jindalee resources ltd
Jindalee Resources Limited Announces Update Mcdermitt Project

Jindalee Resources Limited provided update on its 100% owned McDermitt Project, approximately 25km west of the town of McDermitt on the Nevada-Oregon border. 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. This information was used in the estimation of an Exploration Target that demonstrated that the McDermitt project has the potential to host one of the largest lithium deposits in the USA. Subsequent metallurgical tests have now confirmed the amenability of the lithium rich sediments to sulfuric acid leaching with high lithium recoveries achieved over short time frames. A composite sample of fresh rock across the high-grade zone encountered in hole MDD-004 was submitted to Hazen Research of Golden, Colorado for leach test work. Hazen have considerable expertise in this field and conducted similar tests on several other sediment-hosted lithium projects. Sulphuric acid leaching at various experimental conditions was conducted in February and March 2019. The most recent test reported herein involved the addition of sulphuric acid in a heated, agitated environment. Over 90% of the available lithium reported to the leach solution in just 4 hours, and 97% lithium extraction was achieved after 11 hours while consuming 506 kg sulphuric acid per tonne of ore. With the size of the previously released exploration target range indicating the scale is significant, achieving a high rate of cost-effective Li extraction is a key component of demonstrating a viable economic case for the McDermitt Project. The high recoveries able to be achieved in these early stage tests provide further encouragement for Jindalee to continue to progress work at McDermitt and compare very favourably with those published for similar sediment hosted lithium projects. Jindalee will now undertake additional tests aimed at optimising the leach parameters and reducing sulphuric acid consumption, while producing a leachate amenable to subsequent processing. This testing will include beneficiation of the ore, removal of acid robbing phases such as carbonates, changes to the amounts and timing of heating and acid additions, and alternative leach pathways discussed in the published literature. The ultimate goal of these tests is to identify the key components of a flowsheet suitable for a large-scale operation in a potential future project development scenario.

Jindalee Resources Limited Announces Consolidated Earnings Results for the Half Year Ended December 31, 2018

Jindalee Resources Limited announced consolidated earnings results for the half year ended December 31, 2018. For the period, the company reported revenue from continuing operations was AUD 19,204 against AUD 36,957 a year ago. Loss for the half-year after tax was AUD 949,732 against AUD 652,097 a year ago. Basic loss per share was 2.72 cents against 1.87 cents a year ago.

Jindalee Expands US Lithium Footprint

Jindalee Resources Limited announced that it has significantly increased the scale of its 100% owned McDermitt Project, approximately 25km west of the town of McDermitt on the Nevada-Oregon border. Confirmation has been received from the U.S. Federal Bureau of Land Management (`BLM') of the lodgement and stamping of an additional 112 claims immediately adjacent to the existing 242 claims. These claims expand the size of the project by approximately 45% to 28.6km2,; and cover the along strike continuation of lithium (Li) mineralised sediments already identified in surface sampling and drilling, further consolidating Jindalee's ground position in the district. The expansion of Jindalee's ground position comes as the Company's confidence in this project increases. The recently estimated exploration target range (ETR) identified that the McDermitt project has the potential to host one of the large lithium deposits in the US.

 

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TEV/Sales 274.5x
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