Charger (ASX:CHR) Greenlit for Bynoe Lithium
November 7, 2022Charger Metals are mobilising to test for spodumene hosting lithium-caesium-tantalum pegmatite swarms at its target Bynoe Lithium Project near Darwin in Australia’s Northern Territory.
With approvals in hand, the Company will drill-test trending host pegmatites which have been interpreted to extend from Core Lithium’s (ASX:CXO) adjacent Finniss Lithium Project into Charger’s Bynoe Lithium Project.
Geochemistry and aeromagnetic data, in conjunction with drilling results from neighbouring Core Lithium Ltd (ASX: CXO) and other earlier explorers, suggest Charger’s Bynoe Lithium Project hosts LCT pegmatite dyke swarms in zones that extend for 8km at Megabucks and 3.5km at 7-Up – the basis for the intended drilling programme.
Bynoe Lithium Project showing LCT pegmatite prospect names and proximity to Core Lithium’s Finniss Lithium Project within the greater Litchfield Pegmatite Field
“The Company believes that the Bynoe Lithium Project provides an excellent, drill-ready opportunity, targeting outcropping pegmatites with strong lithium anomalies,” Managing Director David Crook said.
Approvals
- Mine Management Plan (MMP) for drilling programmes approved in July 2022
- Aboriginal Areas Protection Authority (AAPA) certificate approval for up to 318 drill holes
About Bynoe Lithium Project
The Bynoe Lithium Project is located approximately 35 km southwest of Darwin, Northern Territory, with excellent access via sealed roads and with nearby infrastructure. Charger’s Project is enclosed by Core Lithium Limited’s Finniss Lithium Project (Figure 1), which has a mineral resource of 18.9Mt at 1.32% Li2O 1 . Core Lithium, which has an approximate $2.6 billion market capitalisation, commenced construction and mining activities at its Finniss Lithium Project and has announced the sale of direct shipping spodumene ore during the December 2022 quarter. Core Lithium is constructing its lithium processing plant 7km north of Charger’s Bynoe Lithium Project.
About Charger Metals
Charger Metals (ASX:CHR) is an exploration-focused battery minerals company targeting lithium and other battery metal projects throughout Western Australia and the Northern Territory. Charger Metals currently has three projects in the exploration phase, each targeting lithium, nickel, copper or PGEs.
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