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Charger Hit Lake Johnston Lithium

3 April 2023 11:06
ASX: CHR

Charger Metals continue to shore up Lake Johnston’s lithium promise with the Company receiving further high-grade lithium hits from the Medcalf prospect’s maiden drilling campaign, with new assays showing intersections up to 4m @ 2.06% Li2O from 145m.

The drilling campaign targeted a cluster of 20 outcropping pegmatite dykes that extend over 700 metres at the surface and down to a depth of 280 metres down-dip which previously showed assays up to 7.15 per cent lithium oxide.

To date, drilling has identified a swarm of stacked spodumene-bearing pegmatites up to 13 metres thick within a 100-metre-wide corridor that dip at a 40° angle to the southwest and remain open both along strike and at depth, with high-grade lithium identified in a majority of holes.

Intersections include:

o 4m @ 2.06% Li2O from 145m (23CRC013)
o 6m @ 1.56% Li2O from 19m (23CRC006)
o 5m @ 1.41% Li2O from 83m (23CRC007)
o 6m @ 1.34% Li2O from 24m (23CRC003)
o 6m @ 1.06% Li2O from 47m (23CRC002)

The Company has now returned assays from 33 holes of the 41-hole campaign which closed out in the middle of last month, with the Company planning to model the pegmatites in order to plan follow-up drilling to target extension once assays from the final holes are returned in the coming weeks.

The Company said that preparations for a follow-up campaign to test for extensions to high-grade lithium mineralisation are already underway.

“The swarm of stacked pegmatites remains open down-plunge, and we look forward to modelling the results once they are all received in order to plan the next phase of drilling to test for extensions of the high-grade lithium mineralisation,” Managing Director Aidan Platel said.

“These exciting results from the first drill programme are the first of many prospective target areas of the Lake Johnston Project and highlight the potential for the Project to host significant economic lithium mineralisation.”

CHR’s Australian Stock Exchange-listed share price is currently selling at 35.5c (11:06 am UTC+ 8 hours).

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