Nearly 40 years in the waiting - the new Jimi Hendrix album.

John McDermott, one of the archivists and overseers of Jimi Hendrix's recordings, has confirmed that an album of tracks featuring Stephen Stills and Hendrix is being readied for release.

"Stephen has been working with Experience Hendrix to compile an album's worth of sessions recorded with Jimi Hendrix during 1969 and 1970." McDermott says he is acting as a co-producer on the collection, but no further details are being released yet.

Previous sessions involving the two guitarists have emerged before – notably the Stills' Basement bootlegs - but the authenticity of some of those tracks has been questioned. One track featuring Hendrix on guitar, from 1970 - Old Times, Good Times – appeared on Stills' self-titled debut album of the same year, but it seems there is much more.

Now the bad news: There's more Stills than Hendrix in the forthcoming collaboration. A source close to the project told MusicRadar.com that "we have tapes in our archive -- Jimi on guitar and bass -- plus Stephen had some from his 1970 solo album that he wanted to finish, fix and mix. From a musical point of view, it's definitely Stephen with Jimi helping -- as opposed to a joint collaboration. But it is still a very nice project."