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Charger Target Medcalf Pegmatite Potential

14 March 2023 11:31
ASX: CHR

Charger Metals have wrapped up the Medcalf prospect’s maiden drilling campaign at its WA’s Lake Johnston Lithium Project, having finished the final 24 reserve circulation drill holes of the total 41-hole campaign targeting the prospects spodumene pegmatite swarm.

The 7,199-metre drilling campaign targeted a cluster of 20 outcropping spodumene pegmatite dykes with assays up to 7.15 per cent lithium oxide that extend over 700 metres at the surface and down to a depth of 280 metres down-dip.

Drilling was able to extend the known extent of the pegmatite swarm and further demonstrated that it extends under cover and at depth with drilling intersecting multiple staked spodumene pegmatites within a 100-metre wide zone with an aggregated thickness of up to 12 metres.

While Charger waits for further assays to be returned, it is already preparing for a follow-up campaign for this exciting project, with downhole surveys underway to create a 3D model of the prospect which will then be used as an aid in planning the next phase of deeper drilling.

Soil geochemistry and detailed mapping will also be undertaken at Medcalfs Lake Johnston neighbour Mount Day, where similar LCT pegmatites have been mapped, with early work showing Li2O grades of 3.84 per cent.

Located just down the way from the world-class 94.2 Mt @ 1.5 per cent Li2O Earl Grey Deposit, Lake Johnston is one of Chargers’ most promising projects, with the Company’s faith in the project so high it moved to take full ownership of it early last month.

The Company said that extension heritage and flora surveys have been initiated in preparation for further drilling.

“With the drilling programme returning multiple intersections of spodumene-pegmatites, the Company’s geologists are planning deeper core holes designed to expand the known mineralisation to a greater depth,” Managing Director David Crook.

“Assays from holes drilled in late 2022 included high-grade lithium intersections from the surface down to a vertical depth of at least 210m. This year’s drilling has increased the known extent of the spodumene-pegmatites which are still open along the strike and at depth.”

CHR’s Australian Stock Exchange-listed share price was trading at 29c today (9:46 am UTC+8 hours).

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