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Jindalee Resources Ltd (ASX: JRL) announced strong first results received for McDermitt Lithium Project

Jindalee Resources Ltd (ASX: JRL) is pleased to announce assay results from the first three drill holes completed late in 2021 at the Company’s 100%-owned McDermitt Lithium Project (US). These results confirm mineral continuity to the north of the existing Indicated Mineral Resource, with MDRC019 located outside the current Inferred Mineral Resource boundary.

Following the announcement, shares in Jindalee Resources Ltd fell 0.34% to $2.94/share.

When a mining company announces a new resource discovery it’s exciting times for shareholders.

A lot of capital goes into exploration and when a new deposit is found there’s usually a share price boost.

Discovery is the reward stage for investors, particularly of junior mining stocks, searching for undiscovered deposits of natural resources.

When discussing new resource discoveries it’s beneficial to know the difference between greenfield and brown exploration.

Greenfield exploration is looking for mineral deposits in areas that have not been explored.

In brownfield exploration deposits are being sought near or next to an already existing mine.

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