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Charger Metals drill-ready on battery targets

11 March 2022
ASX: CHR
Jack Baker

Charger Metals will have clear sight for drilling priority nickel-copper-PGE targets at its Coates project just northeast of Perth in Western Australia.

The landholder agreement, allowing exploration at the project, is likely to trigger final Western Australian Government approvals in the coming weeks opening up the battery mineral project for staged development.

The timely agreement passes as nickel, palladium and copper trade at historic highs, with global sanctions on Russia only adding to prices for a soaring battery metal market.

The company said its heliborne surveys and sample analysis had generated several compelling targets.

“We are delighted to have reached an agreement with the key-landowner which enables this maiden drill program at the Coates Project to proceed in the near future,” managing director David Crook said.

The company will continue planning and permitting maiden drilling at its Bynoe lithium project.

CHR’s Australian Stock Exchange-listed price has risen 12.8 per cent today, selling at 70c (9:47 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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