Ian Rodger CEO JINDALEE LITHIUM
Can you introduce Jindalee Lithium and the McDermitt lithium project?
Jindalee Lithium is a US Lithium development company focused on progressing our flagship McDermitt project located in SE Oregon. McDermitt is currently the largest lithium resource in the US, containing 21.5 million t of Lithium Carbonate Equivalent (LCE).
Since discovering the project in 2018, we have made significant progress building out the resource and de-risking the project. We commenced a PFS mid-2023, which is expected to demonstrate a competitive, large-scale source of lithium chemicals for over half a century. Can you elaborate on Jindalee’s agreement with POSCO Holdings?
POSCO is a major Korean chemical company and cathode manufacturer, with operations around the globe. They are also a partner and supplier to General Motors in North America. We signed an MOU in February 2023, to work jointly on the project, with test work currently underway in Korea. There are no offtake or first rights; it is purely a collaboration agreement. As the current test work is finalized and we complete our PFS we will sit down with POSCO to discuss next steps. What makes McDermitt’s geology unique?
Our deposit is unique in that it outcrops at the surface, and the rock is very soft, so no blasting or grinding is required. As a result, mining will be very cheap with a very low strip ratio compared to most other lithium deposits. What is Jindalee’s approach to project financing?
On the government support side, we are well advanced on two non-dilutive grant funding applications, one with the Department of Defense (DoD) and the other with the Department of Energy (DoE). Size and scope vary, but these grants have the potential to materially co-fund feasibility studies, exploration drilling programs, and pilot scale testwork crucial for advancing from our current PFS to an FID.
Tim Fernback President and CEO GRID BATTERY METALS
Can you provide updates on Grid Battery Metals' activities from 2023 to early 2024?
Since September 2023, we have been actively exploring our lithium projects in Nevada. One key company project is the Clayton Valley lithium project, located near Albemarle’s producing Silver Peak mine and Century Lithium’s Angel Island Mine, which is currently at a bankable feasibility stage.
At our Texas Spring lithium project, located near Elko, we plan to launch a drilling campaign. The results of the 2024 drill campaign are expected to expand the existing inferred resource of 4.67 million t of lithium carbonate equivalent grading 2,839 parts per million lithium at a 1,250 ppm Li cut-off. Our exploration results at Texas Spring are on-trend with these results yielded average lithium grades of 2,010 ppm (applying a 1,000-ppm cut-off) and up to 5,610 ppm lithium.
We are also designing a work program for our Volt Canyon project in Monitor Valley. This area has been underexplored, and initial geophysics and soil sampling suggest potential for a larger lithium accumulating structure. We are assessing where to drill and are planning a drilling campaign by the end of the year.
We spun out our nickel projects in British Columbia into a new public company, AC/DC Battery Metals Inc. and Grid shareholders not only received a 5% share dividend in AC/DC, but the share price has more than doubled since listing.
We also aim to acquire additional lithium projects and are receiving daily opportunities for lithium properties in Nevada, Utah, New Mexico, and Arizona. What are Grid Battery Metals' goals for the next 24 months?
We will focus on continuing exploration and drilling at Clayton Valley, Volt Canyon, and Texas Spring. We aim to acquire additional battery metal exploration targets in North America. Our long-term strategy includes diversifying into other metals and advancing our projects to enhance shareholder value.