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Charger Metals NL (ASX: CHR, Charger or the Company) is pleased to provide an update for its Bynoe Lithium Project in Australia’s Northern Territory. The Bynoe Lithium Project’s ownership is 70% Charger and 30% Lithium Australia NL (ASX: LIT) and is surrounded by Core Lithium Ltd’s (ASX: CXO) Finniss Lithium Project (which has a JORC 2012 compliant Mineral Resource2 totalling 15Mt at 1.3% Li2O).
- Recent geochemistry and aeromagnetic programs completed by Charger, combined with drilling information provided to the market by Core Lithium Ltd (ASX: CXO), suggests multiple swarms of lithium-caesium- tantalum (LCT) pegmatites that extend from the adjacent Finniss Lithium Project into Charger’s Bynoe Lithium Project.
- The geochemistry results highlight two large LCT pegmatite target zones, with significant strike lengths of 8km at Megabucks and 3.5km at 7-Up.
- Within each pegmatite zone, drill-ready lithium targets have been identified including at the Megabucks, Jenna’s, Enterprise 1, Enterprise 2, Riverside and 7-Up pegmatites.
- Charger’s aeromagnetic survey imagery indicates that recent drilling by Core Lithium Ltd:
- Which intersected high grade spodumene mineralisation at its Ah Hoy prospect1, is located 3km northeast along trend from Charger’s 7-Up prospect; and
- Which intersected lithium-fertile LCT pegmatites at Centurion, is 600m southwest along trend from Charger’s Enterprise 1 Prospect.
- Planning and permitting for the maiden drill programme at the Bynoe Lithium Project is advancing.
Comment from Charger’s Managing Director, David Crook
“Charger’s 2021 geochemistry program has very successfully outlined two large pegmatite emplacement zones which extend for up to 8km, centred on the Megabucks and the 7-Up prospects respectively.
The interpretation of all geochemistry results suggest a large lithium-mineralised system and provides Charger with an exploration roadmap, enabling prioritization of the most significant drill-ready targets while identifying areas that need further infill soil sampling and mapping.
The Company is advancing planning and permitting towards its maiden drilling program at Bynoe, aimed to commence at the cessation of the Northern Territory wet season.”
This article includes content from Charger Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.