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Charger Metals NL (ASX: CHR) ( "Charger" or" the Company") is pleased to advise the market of results of its recent SkyTEM geophysical survey completed over much of the Coates Ni-Cu Au-PGE Project, which is located approximately 60km north-east of Perth WA.
- Interpretation of preliminary data has delineated 22 targets indicative of potential sulphide conductors.
- Target T1 is a cluster of excellent conductors striking over 1,500m and closely related to weakly magnetic horizons of the Coates mafic intrusive complex.
- The northern end of the T1 target correlates with anomalous Ni-Cu-Au-PGE1 values in regolith geochemistry samples.
The Company acquired 70% of the Coates Project from Lithium Australia NL (ASX: LIT) and 85% of the Coates North Project from Mercator Metals Pty Ltd (Refer to Table 1). The Coates Project has an area of 47km2.
The survey was jointly flown for Charger and adjacent tenement holder, Australian Vanadium Ltd (ASX: AVL) by SkyTEM Australia Pty Ltd.
Charger's Managing Director, David Crook commented:
"The results of the helicopter EM survey, coupled with the pre-existing geochemistry, provides the Company with excellent, very clear targets for the next phase of detailed fieldwork, as we move towards drilling."
Charger's Geophysical Consultant, Bill Peters of Southern Geoscience Consultants noted:
"Target T1 within Charger's tenements consists of several excellent conductors striking over 1,500m and closely related to weakly magnetic horizons.
Read the full article here.