Charger Metals (ASX:CHR) extends Medcalf lithium mineralisation ahead of resource upgrade

Charger Metals has reported new drilling results from the Medcalf Spodumene Deposit at its 100%-owned Lake Johnston Lithium and Gold Project in Western Australia, where recent diamond drilling has confirmed deeper extensions of lithium mineralisation and will contribute to an updated Mineral Resource estimate in the coming weeks.

The latest program extended spodumene mineralisation from surface to 600m to 700m down dip and added a further 260m of mineralisation beyond previously defined zones.

Highlights

• 3,418m of diamond and RC drilling completed during the March quarter at Medcalf
• Latest drilling confirmed stacked spodumene pegmatite lodes from surface to 700m down dip
• CLMRC064DT returned combined widths of 32m at 1.06% Li2O and 92ppm Ta
• CLMRC065DT returned combined widths of 20.7m at 0.93% Li2O and 103ppm Ta
• CLMRC063DT returned combined widths of 10.1m at 1.66% Li2O and 96ppm Ta
• The current Mineral Resource estimate of 8.2Mt at 1.0% Li2O is being revised in coming weeks

Charger Metals said the latest diamond drilling confirmed continuity of lodes, wider combined thicknesses down dip and mineralisation that remains open along strike and down dip, while also confirming significant spodumene pegmatites outside the maiden resource.

Significant intercepts from the latest drilling included 4.5m at 1.26% Li2O and 101ppm Ta from 279.7m, 5.1m at 2.03% Li2O and 66ppm Ta from 320.9m, 2.7m at 1.29% Li2O and 267ppm Ta from 368.9m, and 5.1m at 1.45% Li2O and 172ppm Ta from 390.2m in hole CLMRC064DT.

Hole CLMRC063DT returned 1.7m at 2.26% Li2O and 94ppm Ta from 299.35m and 1m at 2.55% Li2O and 55ppm Ta from 314.8m, while hole CLMRC065DT returned 6.6m at 1.21% Li2O and 147ppm Ta from 341m. All reported intersections are down-hole widths.

Charger said it has now completed 75 RC and diamond holes across Medcalf and Medcalf West, which have intersected lithium and tantalum mineralisation in swarms of stacked spodumene-bearing pegmatites extending from surface at a dip of 45 degrees.

The company stated this deposit is well suited to open pit mining. Medcalf is located approximately 200km from Esperance Port and within trucking distance of four spodumene concentration plants.

Charger Metals Managing Director Bryan Dixon said the latest drilling continued to extend mineralisation outside the maiden resource area.

“These latest diamond drilling assays from Medcalf have confirmed more spodumene mineralisation, with all latest three holes extending the spodumene mineralisation significantly outside the maiden resource down dip, and include combined widths of 32m @ 1.06% Li2O, 21m @ 0.93% Li2O, and 10m @ 1.66% Li2O, respectively.”

The company also provided an update on gold exploration at the Xmas Gold Prospect, where it completed two follow-up holes after previously reporting 3m at 18.0 g/t Au and 9.15 g/t Ag from 135m, including 1m at 41.5 g/t Au and 26.5 g/t Ag.

Diamond hole CLGDD001 was drilled to 160m and RC hole CLGRC029 was drilled to 280m, however neither hole identified any further significant gold intercepts.

Charger said it will now review exploration and targeting information at the Mt Gordon Gold and Lithium Prospects to assess the best exploration pathway forward for these opportunities, while the Medcalf Lithium Resource is currently being re-estimated.

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