Jindalee Lithium Reports Strong Assay Results From US Lithium Project; Shares Fall 6%

MT Newswires Live01-21 11:52

Jindalee Lithium (ASX:JLL) reported strong results from its 2025 drilling program at the McDermitt lithium project in the US, with all five drill holes returning notable lithium and magnesium intercepts, according to a Wednesday Australian bourse filing.

The results include a 36.5-meter section from a depth of 24.5 meters, reporting 1,951 parts per million of lithium and 5.23% magnesium, per the filing.

Three holes were drilled to twin earlier reverse circulation (RC) holes, with assays from the core holes showing strong correlation to the RC results, the filing said.

The company will now perform an in-depth geostatistical analysis to explore the relationship between RC and core drilling results, to optimize future drilling approaches, the filing added.

The company's shares fell 6% in recent Wednesday trade.

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