Charger Metals NL (ASX:CHR, Charger or the Company) is pleased to provide an update for its Bynoe Project in the Northern Territory. The Bynoe Project ownership is 70% Charger and 30% Lithium Australia NL (ASX: LIT) and is surrounded by Core Lithium Ltd.’s (ASX: CXO) Finnis Lithium Project (refer to Figure 1).


HIGHLIGHTS

  • Aeromagnetic and radiometric survey results confirm known pegmatites and lithium anomalies align with magnetic trends
  • Core Lithium Ltd’s (ASX: CXO) recent drilling has confirmed lithium-rich spodumene pegmatites 600m along trend from Charger’s Enterprise 1 Prospect
  • Planning and permitting for the maiden drill programme at the Bynoe Lithium Project is advancing

On 27 October 2021 the Company announced that 21% of its soil geochemistry programme had generated three walk up drill targets for LCT pegmatite-hosted lithium at the Enterprise 1 and 2, and Bucks Prospects.

COMMENT FROM CHARGER’S MANAGING DIRECTOR, DAVID CROOK

“Image processed aeromagnetic and radiometric survey data collected during October and November this year is being used to validate soil geochemistry and mapping targets that are often obscured by soil coverage.

“The Company is encouraged that Core Lithium Ltd’s drilling has confirmed lithium-bearing spodumene pegmatites 600m along a trend evident in the new aeromagnetic imagery from the Enterprise 1 Prospect.

“The Company has yet to receive the other 79% of the Bynoe soil analyses, however is advancing planning and permitting towards a drilling start date in the Northern Territory dry season.”

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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.

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