FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Charger confirm high-grade lithium

22 February 2023 09:27
ASX: CHR

Charger Metals have returned multiple high grade lithium intersections from a maiden RC drill campaign over its Medcalf Spodumene discovery at the Lake Johnston Project in Western Australia’s Yilgarn Province.

It confirms the presence of high-grade lithium at a discovery boasting numerous spodumene-bearing pegmatites, the preferred mineral for commercial lithium production.

Drilling intersected multiple stacked spodumene pegmatites within a 100 metre wide zone, with an aggregated thickness up to 12 metres from a program which continues to spin for a total of 40 holes just 70 kilometres away from the world class Earl Grey lithium deposit.

Medcalf’s pegmatites are notably part of the lithium-caesium-tantalum pegmatite family, the shallow, zoned and narrow geological bodies which commonly extend for several kilometres, a shape making mining difficult in steep terrain, but considerably less so when hosted in Australia — the earth’s flattest continent.

The company said the first very encouraging drill results from the campaign were now on hand as drilling continued to intersect similar multiple-sheet pegmatites within a plunging, 100 metre wide structural zone.

“The drill holes reported here confirm high grade lithium from surface down to a vertical depth of 210m, and the ongoing drill programme is expanding the extent of the spodumene-pegmatites along the strike direction and at progressively greater depths,” managing director David Crook said.

The campaign will continue to test for extensions on the pegmatites, both along strike and at depth, with diamond core drilling likely to follow.

Significant intersections include:

  • 5m at 2.55% Li2O4 from 68m including 2m at 4.19% Li2O
  • 3m at 1.25% Li2O from 6m and 6m at 1.52% Li2O from 26m and 3m at 1.21% Li2O from 40m
  • 5m at 1.86% Li2O from 24m and 2m at 1.12% Li2O from 47m and 4m at 1.83% Li2O from 56m and 3m at 1.79% Li2O from 71m
  • 5m at 1.12% Li2O from 52m 1m at 4.02% Li2O from 63m; and 2m at 1.74% Li2O from 84m o
  • 3m at 1.59% Li2O from 21m
  • 6m at 1.16% Li2O from 93m; and 4m at 1.27% Li2O from 200m

CHR’s Australian Stock Exchange-listed share price has risen 16.216 per cent today, currently selling at 43c (9.27 am UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This