Jindalee Lithium Limited (JLL), an Australian company focused on developing lithium resources, has announced significant progress at its 100%-owned McDermitt Lithium Project in the United States. The company received approval from the US Bureau of Land Management (BLM) for its Exploration Plan of Operations (EPO), a major milestone allowing for increased on-site activity.
The EPO approval enables Jindalee to commence a substantial infill drilling program in the second half of 2026. This program aims to gather additional geological and environmental data, along with samples for geotechnical studies and metallurgical test work. The results will contribute to the McDermitt Feasibility Study, furthering the project’s advancement. Recent drilling results showcased strong lithium and magnesium intercepts from shallow depths, reinforcing the project’s potential.
In addition to project development, Jindalee is actively exploring a potential SPAC transaction to list McDermitt on a US exchange, valuing the project at US$500 million. The exclusivity period for this transaction has been extended, with marketing efforts underway to attract US investors. Jindalee also successfully raised $1.5 million through a Share Purchase Plan (SPP), following an $8 million Placement completed in late October 2025. All remaining convertible notes have been repurchased, leaving Jindalee debt-free.
Furthermore, Jindalee is focused on unlocking the value of the significant magnesium endowment at McDermitt, potentially repositioning the project as a dual-product supplier of both lithium and magnesium. Metallurgical test work is underway to optimise lithium recoveries and assess downstream processing opportunities for magnesium products. The company remains engaged with the US Government to secure funding for a Feasibility Study and associated drilling and test work.
