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Charger drill into pegmatite potential

20 December 2022 12:27
ASX: CHR

Charger Metals have finished drilling at Lake Johnston for the year, having completed 17 holes and hit a spodumene-bearing pegmatite swarm at the Medcalf pegmatite prospect.

So far drilling has intersected numerous stacked pegmatites between one and five metres wide, with spodumene being logged in 15 of the holes, all in a zone approximately fifty metres wide and remaining open at depth.

The full program will comprise up to 40 holes, targeting approximately 20 outcropping spodumene pegmatite dykes, which returned assays up to 7.15 per cent lithium oxide.

Located near the world-class estimated 94.2mt Earl Grey lithium deposit, Lake Johnston is one of the most promising prospects in Chargers portfolio, with the company’s faith in the area being so high that it increased its land holdings in the area by 33 square kilometres right before drilling kicked off.

The company said that results so far have been very encouraging.

“The program has provided critical information about the orientation of mineralisation aiding planning ahead of the resumption of drilling in early 2023,” managing director David Crook said.

CHR’s Australian Stock Exchange-listed share price was trading at 44c today (12:26 am UTC+8 hours)

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