Name of the Project
McDermitt lithium project.

Location
Malheur County, on the Oregon-Nevada border, in the US.

Project Owner/s
Jindalee Resources.

Project Description
McDermitt is the biggest lithium deposit in the US by contained lithium, with 21.5-million tonnes of lithium carbonate equivalent in mineral resource.

A preliminary scoping study completed in September 2021 has confirmed the potential of McDermitt to support a viable standalone lithium mining and processing operation, and reinforce the significance of the project as a possible long-life source of future supply to the rapidly growing US battery manufacturing industry.

The study envisages an openpit mining operation that processes ore using sulphation roasting to produce battery-grade lithium carbonate.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
No operational or financial metrics have been given, owing to regulatory constraints.

Planned Start/End Date
Not stated.

Latest Developments
Jindalee Resources will raise A$5.5-million to advance the project.

The company told shareholders on October 16 that it would issue up to 3.93-million shares at A$1.40 each to raise the funds, with the capital raising to include a priority offer of up to 1.43-million shares to existing shareholders, and a public offer of 2.5-million shares to invited investors.

The shares will be issued under the company’s existing placement capacity and will not require shareholder approval.

Funds raised will be used for exploration and metallurgical testwork at McDermitt, to advance the prefeasibility study, and conduct heritage and environmental studies.

The PFS started in June 2023 and is expected to be completed in June 2024.

Key Contracts, Suppliers and Consultants
GR Engineering Services (process engineering, capital and operating cost estimation); Cube Consulting (mining consultant); and MineGeoTech (geotechnical assessment).

Contact Details for Project Information
Jindalee Resources, tel + 61 8 9321 7550 or email enquiry@jindalee.net.