Jindalee Lithium Completes Drilling Program at US Lithium Project

MT Newswires Live12-03

Jindalee Lithium (ASX:JLL) said the 2025 large diameter core drilling program at the McDermitt lithium project in the US, designed to obtain samples for metallurgical testwork to further optimize lithium recoveries, was completed, according to a Wednesday Australian bourse filing.

The cores were logged, cut, and the samples were prepared for assay with results, including for lithium and magnesium, expected early in the 2026 March quarter.

In the same filing, the company said it progressed the proposed US listing of HiTech Minerals, its wholly owned US unit and owner of the project, via a proposed merger between HiTech and Constellation Acquisition Corp. I, creating a US-listed vehicle to advance the project.

Jindalee and Constellation agreed to extend the initial 90-day exclusivity period under a non-binding letter of intent by a further 45 days, as they seek to finalize a binding business combination agreement.

Jindalee's shares rose nearly 1% in recent trading on Wednesday.

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