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Charger spotlight new lithium targets

9 June 2022
ASX: CHR
Jack Baker

Charger Metals have confirmed an extensive lithium system is running through Lake Johnston, identifying three target zones following the completion of soil geochemistry programs across the project 150 kilometres southwest of Coolgardie in Western Australia.

Furthest progressed, drilling at the Medcalf Spodumene prospect is likely early next year following assays showing 5.13 per cent lithium oxide.

The Lake Johnston project covers around 25 kilometres of prospective territory not subject to intense exploration and lies adjacent to the Mt Holland lithium mine’s estimated 94.2 million tonne reserve.

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A location diagram for the mineral occurrences within the Lake Johnston Lithium Project area.

The company said it had commenced approval processes for the much-anticipated program.

“Charger has successfully delivered new, priority drill targets at each of the Company’s three projects,” managing director David Crook said.

“Despite delays out of our control, we continue to work proactively with Western Australian and Northern Territory regulatory bodies and other stakeholders to commence drilling on each project as soon as permitting is finalised.”

The Perth-based company will resume fieldwork over the Mt Day and Pagrus prospects while awaiting final soil analyses.

CHR’s Australian Stock Exchange-listed share price has risen 8.7 per cent today, selling at 50c (10.19 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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