Charger (ASX:CHR) hit high grade Lake Johnston lithium

Charger Metals’ spodumene-bearing pegmatites have been reaffirmed as containing high-grade lithium at its exciting Medcalf discovery, part of the Lake Johnston Project, near the globally significant Earl Grey deposit in Western Australia’s south.

The pleasing results back up the last group, which confirmed high-grade lithium intersections in 14 of 17 holes, revealing grades up to 4.19 per cent lithium oxide from production-friendly pegmatites with an aggregated thickness of up to 12 metres.

Significant results:

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

CHR.AX

CHARGER FPO [CHR]

ASX

$0.043

$0.0000

0.00%

Charger’s new Managing Director, Aidan Platel, said the intercepts correlate nicely with spodumene-bearing pegmatite intersections.

“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.”

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

Assays for the campaign’s final eight holes are expected in the coming weeks as Charger prepare the follow-up to test for extensions on its high-grade Lake Johnston lithium.

Lithium Market Outlook

In the global outlook for lithium outside of China, prices are holding up much better, which suggests a different set of drivers, not least continuing short supply.

SQM (Sociedad Química and Minera de Chile) often supplies lithium directly to end users outside China. For instance, Under the agreement that runs from 2021 to 2029, SQM will provide lithium hydroxide and lithium carbonate to the Korean company. The order volume is reported to be approximately 55,000 metric tons of lithium carbonate equivalent (LCE)

According to the International Energy Agency, global demand for lithium is expected to increase more than tenfold by 2030. This trend is driven by a shift towards cleaner energy sources and increased adoption of electric vehicles.

CHARGER FPO [CHR]

Sector: Basic Materials

Industry: Other Industrial Metals & Mining

Employees:

Charger Metals NL engages in the exploration for battery metals. The company explores for nickel, copper, lithium, and platinum group elements. Its project portfolio includes a 100% interest in the Lake Johnston project located in Perth, Western Australia; 85% interest in the Coates project situated in Wundowie, Western Australia; and 70% interest in the Bynoe lithium project in the northern Territory. The company was incorporated in 2020 and is based in Subiaco, Australia. As of October 29, 2024 Charger Metals NL (ASX : CHR) operates as subsidiary of Core Lithium Ltd.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.