FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Charger Metals Advances Bynoe Lithium Project with ANT Survey and Drilling

24 August 2023 14:15
ASX: CHR

Charger Metals NL (ASX: CHR) continues to make significant strides in the exploration of its Bynoe Lithium Project located in the Northern Territory, with an emphasis on innovative surveying techniques and comprehensive drilling efforts.

X4DIr6wiKONKm3km?auto=format%2Ccompress&fit=max&h=800&q=75&s=6ad869597267891297f989b9d1d23deb

Figure 1: Location map of the Bynoe Lithium Project showing the areas to be covered by the current ANT, ground gravity and surface geochemistry surveys.

Peering Below the Surface

The Company’s recent accomplishments include the commencement of two crucial geophysical surveys: the Ambient Noise Tomography (ANT) survey and the ground gravity survey. These surveys are strategic in nature, targeting the northeast region of the Bynoe tenure which has remained relatively underexplored.

The ANT survey is a particularly innovative method that employs passive seismic surveying using ambient sound waves, with this technique proven effective in identifying “blind” pegmatite systems that are not visible at the surface. This is particularly significant in areas like Bynoe where weathering can obscure potential mineral resources.

Concurrently, the ground gravity survey, which measures density contrasts between geological formations, has the potential to detect substantial pegmatite systems. This method complements the ANT survey and together they provide a comprehensive view of subsurface geological features that might otherwise go unnoticed.

Geochemical Sampling and Mapping

Charger Metals has also initiated infill surface geochemical surveys in key prospective areas to the east and northeast of the tenure. By reducing the sample spacing from 400m to 200m line spacing, the Company aims to gain a more detailed understanding of the geochemical characteristics of these areas.

Given that known lithium-bearing pegmatites in the region tend to have relatively short strike lengths, this infill approach is vital for capturing a comprehensive view of potential resources.

Drilling Progress and Assay Results

The exploration efforts extend beyond geophysical surveys and geochemical sampling, with an impressive nearly 12,000 metres of drilling already completed across seven promising target zones since May.

This extensive drilling campaign aims to provide detailed insights into the geological formations, with a focus on the Enterprise Prospect. However, due to various factors including sample processing and laboratory capacity, the assay turnaround times have been extended.

NMJqZ1GYhm7Dtbgv?auto=format%2Ccompress&fit=max&h=800&q=75&s=84eb4294f7cb5e44117e1828ed68ed40

Figure 2: Prospect location map of the Bynoe Lithium Project showing the prospects that have been drill-tested to-date (in red). Core Lithium’s nearby deposits and key prospects are shown for reference.

Expectation mounts as Charger intends to unveil assay results in successive batches as they become available, with the first significant batch expected by mid-September. These results will offer vital insights into the mineralisation potential within the Bynoe Lithium Project.

Charger Metals’ Managing Director, Aidan Platel, expressed enthusiasm about the ongoing efforts and the potential of the Project, “The Company has completed a significant amount of drilling to-date at Bynoe across several key prospect areas, and we look forward to receiving the assay results for each of the target areas that have been drill-tested so far.”

“In addition to systematically drill-testing seven of the numerous (>20) prospects already identified, the Company has initiated simultaneous ANT, gravity and surface sampling surveys in key areas of the Bynoe Project that are currently considered prospective yet underexplored. The surveys have the ability to delineate new high priority drill targets, including targets that are not apparent at surface, and we look forward to seeing the results and modelling of these surveys in October.”

CHR’s Australian Stock Exchange-listed price is currently selling at 22c (1.45 pm 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