Lithium

Charger Metals confirms large lithium system at Lake Johnston: Drilling on the horizon

Thu 09 Jun 22, 11:06am (AEST)
2011 Geologists sampling rocks in iron ore exploration in the Outback
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Key Points

  • Charger plans to commence drilling at the Medcalf prospect in the March quarter 2023
  • Assays at Medcalf have returned lithium grades between 1.5% to 5.13%
  • The Coates Project flagged delays with government approval for drilling activities

Charger Metals (ASX: CHR) briefly rallied 35% in early trade after confirming a large lithium system at its Lake Johnston Project in WA.

The company laid out drilling plans to capitalise on the success of recent early-stage exploration activities. 

“Charger has commenced the statutory approvals process required before the commencement of drilling of the spodumene-pegmatite target at the Medcalf Spodumene Prospect … where rock chip samples returned between 1.51% and 5.13% Li2O,” said managing director, David Crook. 

Generally speaking, hard rock lithium grades are usually in the 0.9% to 1.6% range. 

Drilling plans

The Lake Johnston Project is comprised of two prospects - Mt Day and Medcalf.

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Source: Charger Metals

A drill program of approximately 40 holes has been proposed to test the Medcalf Spodumene Prospect. The program is being prepared for the March quarter of 2023.

Elsewhere, Charger flagged a delay in government approval for 'ground disturbing' activities in WA. The company said this has impacted the start date for drilling at the Coates Nickel-Copper-Cobalt Project.

Priority areas emerging at Mt Day

Over 6,000 soil samples has been taken around the Mt Day Prospect. A selection of over 1,100 samples have been submitted to a commercial laboratory for analysis.

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Charger Metals share price

 

Written By

Kerry Sun

Finance Writer & Social Media

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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