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Charger Assay Lake Johnston Lithium

18 April 2023 11:13
ASX: CHR
Stock Discovery Lithium Miner Exploration Online 1

Charger Metals continue to return high-grade lithium hits just 70km from the world-class 89 Mt at 1.5% Li2O Earl Grey deposit, with final assays from its 41-hole drill campaign at Lake Johnston’s Medcalf prospect showing new intersections up to 4m @ 1.21% Li2O from 208m.

The drilling campaign targeted a cluster of 20 outcropping pegmatite dykes and uncovered a swarm of stack spodumene-bearing pegmatites up to 13 metres thick within a 100-metre-long corridor, with high-grade lithium intersecting in nearly every drill section, with the highest assay so far being 2.55% Li2O.

New intersections include:

o 3m @ 1.33% Li2O from 110m (23CRC018)
o 3m @ 1.35% Li2O from 136m (23CRC018)
o 3m @ 1.44% Li2O from 168m (23CRC018)
o 3m @ 1.24% Li2O from 101m (23CRC022)

To date, pegmatite has been delegated on a northwest-southeast strike over 700m long with the 40° towards the southwest and currently remains open at depth allowing for possible extension.

With final assays received, the company is already planning to put the drill back into the ground with results from this campaign being used to model the project and define priority targets for an upcoming drill program aimed at extending known mineralisation even further.

Alongside drilling at Medcalf, the explorer is now looking to ramp up exploration at the very exciting Mt Day prospect where a number of pegmatite bodies have been mapped with lithium grades up to 3.84 per cent Li2O returned from soil sampling.

The company said that an Aboriginal heritage survey at Medcalf will commence later this week to prepare for the upcoming campaign.

“The maiden drill programme at Medcalf was a great success, with significant high-grade lithium within logged spodumene-bearing pegmatites intersected on nearly every drill section. The potential for further high-grade lithium mineralisation at Medcalf remains open, and our team is now busy modelling the drilling results in order to define extensional targets for the next phase of drilling,” Managing Director Aidan Platel said.

CHR’s Australian Stock Exchange-listed share price was trading at 32c today (10:32 am UTC+8 hours).

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