Charger (ASX:CHR) proceeds at Lake Johnston
November 21, 2022Charger Metals will proceed with highly anticipated drilling at its promising Medcalf Spodumene Prospect, part of the Company’s Lake Johnston Lithium Project.
Following the Programme of Work approval, the Company has wasted little time preparing a drilling contractor to mobilise to the site to test outcropping spodumene-pegmatites across its increased land position in an area considered prospective for lithium.
“Late last week Charger received its final required environmental approval and is moving people, plant and equipment to site ahead of our maiden drill programme, to test the Medcalf Spodumene Prospect,” Managing Director David Crook said.
Field staff have arrived on the ground to undertake site preparation at this previously undrilled area and finalise logistics – the planned RC drilling programme will start when this is complete”.
Acquisition of E63/1883, near the Medcalf Spodumene Prospect, increases Charger’s land position by 33km²
A programme of up to 40 reverse circulation drill holes will test the Medcalf Spodumene Prospect.
Fieldwork identified a spodumene-pegmatite swarm comprising about 20 anastomosing pegmatite dykes that outcrop in an area 800m long within a 300m wide corridor.
The strike direction of the pegmatite dykes is approximately northwest, and the dip is to the southwest. Ongoing mapping continues to identify additional spodumene-pegmatite outcrops in this area.
Medcalf Spodumene Prospect showing mapped pegmatites, soil samples and rock chip locations. Assays shown are of spodumene-bearing rock chips. The large width of the outcropping pegmatite cluster will be drill tested.
Price Action
The Company’s ASX-listed shares are 60c at Market Open.
About the Lake Johnston Lithium Project
The Lake Johnston Lithium Project is located 450km east of Perth, Western Australia. Charger’s predominately 70% interest is through
a Joint Venture, with the remaining
30% held by Lithium Australia Ltd.
Lithium prospects occur within a 50km long corridor along the southern and western margin of the Lake Johnston granite batholith. Key prospects include the advancing Medcalf Spodumene Prospect and much of the Mount Day lithium-caesium-tantalum (LCT) pegmatite field, prospective for lithium and tantalum minerals.
The Lake Johnston Lithium Project has attracted considerable interest due to its proximity to the large Earl Grey Lithium Project under development by Covalent Lithium Pty Ltd (manager of a joint venture between subsidiaries of Sociedad Química y Minera de Chile S.A. and Wesfarmers Limited) located approximately 70km west of the Lake Johnston Project.
Mt Holland is understood to be one of the most significant undeveloped hard-rock lithium projects in Australia, with Ore Reserves for the Earl Grey Deposit estimated at 94.2 Mt at 1.5% Li2O3.
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