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Bynoe shows considerable lithium promise

17 January 2022
ASX: CHR
Jack Baker

Charger has identified an extensive system of lithium mineralisation during recent targeting at Chargers’ Bynoe project, 38 kilometres southwest of Darwin in the Northern Territory.

The recently listed battery focused company’s geochemistry and aeromagnetic programs have suggested multiple swarms of lithium-caesium-tantalum pegmatite. 

Each pegmatite zone has drill ready lithium targets at significant strike lengths of 8 kilometres and 3.5km at the Megabucks and 7-Up prospects. 

The company said the results provide an exploration roadmap, enabling prioritisation of the most significant drill-ready targets. 

“Charger’s 2021 geochemistry program has very successfully outlined two large pegmatite emplacement zones which extend for up to 8km, centred on the Megabucks and the 7-Up prospects respectively,” managing director David Crook said 

The company is advancing planning and permitting towards its maiden drilling program at Bynoe, aimed to commence at the cessation of the Northern Territory wet season. 

CHR’s Australian Stock Exchange-listed has risen nearly 32pc, currently trading at 76.5c (8:02 am UTC+8 hours) 

COMPANY OVERVIEW

Charger has acquired interests in a portfolio of tenements that are considered by the Board to be prospective for demand-driven metals associated with the renewable energy sector. The Project portfolio includes a 70% interest in the Coates Ni-Cu-Co-PGE Project and the Lake Johnston Lithium Project in Western Australia; and the Bynoe Lithium and Gold Project in the Northern Territory. In addition, Charger has also entered into a separate option agreement to acquire an 85% interest in the Coates North Project which adjoins the Coates Ni-Cu-PGE Project.

COMPANY INFORMATION

ASX: CHR

Website

https://chargermetals.com.au/
https://www2.asx.com.au/markets/company/chr

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