With a Mineral Resource (MRE) of 21.5Mt LCE hosted in shallow mineralisation, the McDermitt Lithium Project in Oregon, USA is uniquely placed to provide lithium chemicals to an American automotive industry which is rapidly transitioning to electric mobility technologies.
Investment Highlights
- 100% owned, world-class, Tier 1 lithium deposit
- Significant Indicated + Inferred Mineral Resources with excellent metallurgy
- Large scale project amenable to low cost, bulk mining operation
- Potential to materially change US lithium supply dynamics, close proximity to major lithium customers
At A Glance
Total Mineral Resource (LCE)
21.5Mt
First Discovered
2018
Holes Drilled
62
Claims Area
54.6km2
Indicated Resource (LCE)
11.1Mt
Inferred Resource (LCE)
10.4Mt
Resources and Reserves
McDermitt Mineral Resource
Lithium Carbonate Equivalent (LCE)
* as of 27 February 2023
Cut-Off Grade (ppm Li) | Indicated Resource | Inferred Resource | Indicated & Inferred Resource | ||||||
Tonnage (Mt) | Li Grade (ppm) | LCE (Mt) | Tonnage (Mt) | Li Grade (ppm) | LCE (Mt) | Tonnage (Mt) | Li Grade (ppm) | LCE (Mt) | |
1,000 | 1,470 | 1,420 | 11,1 | 1,540 | 1,270 | 10.4 | 3,000 | 1,340 | 21.5 |
McDermitt Lithium Project
Oregon / Nevada
The McDermitt Lithium Project is located in Malheur County on the Oregon-Nevada border, ~35 km west of the town of McDermitt at the northern end of the McDermitt volcanic caldera.
We completed an initial 4 hole drilling program in September 2018, intersecting broad widths of sediment hosted lithium mineralisation. A total of 62 holes (33 RC and 29 aircore) have now been drilled at the Project over five drill programs, with the Mineral Resource (MRE) increasing after each program. In February 2023 we announced an updated Indicated and Inferred MRE, confirming that the Project is one of the largest lithium deposits in the US (by contained lithium).
The recent MRE upgrade reinforces the significance of the Project as a potential source of future supply to the rapidly growing US battery manufacturing industry. The US currently imports most of its lithium for Li-ion battery construction, and we believe that McDermitt has the ability to provide a significant, long-life supply of lithium for both domestic consumption and export.
We intend to de-risk the McDermitt Project through 2023/24 with plans for:
- Ongoing metallurgical studies to optimise the flowsheet (increase options and further reduce costs)
- Review results of testwork being completed under MoU with POSCO
- Complete technical and financial studies to include the new MRE and latest metallurgical results
- Commence major infill and resource extensional drilling (subject to approval of the Exploration Plan of Operations lodged in January 2023)
- Build on environmental and cultural baseline studies completed in 2022
- Increase engagement with local community, US investors and potential partners
Gallery
Jindalee geologists at McDermitt
Location of McDermitt and Thacker Pass lithium deposits
Lithium rich drill core from McDermitt (MDD006)
Plan view of the McDermitt Lithium Project
Clayton North Project
Nevada
The Clayton North Project is located 23 km north of Silver Peak, currently the only producing lithium operation in the US. Extensive areas of lithium bearing claystones outcrop within the claims area, and initial drilling has returned intercepts of 6.1m @ 1093ppm Li and 11.2m @ 1006ppm Li from shallow depths. Further exploratory drilling is planned to follow up the encouraging results from our initial drill program.
Gallery
Location of Jindalee's US lithium projects
Location of Clayton North Project and Silver Peak lithium mine
Lithium rich sediments at Clayton North
Composite sampling lithium rich sediments at Clayton North
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