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Charger Metals NL ( (AU:CHR) ) has issued an announcement.
Charger Metals has expanded its drilling campaign at the Medcalf Spodumene Project within its 100%-owned Lake Johnston Lithium and Gold Project, completing 3,418m of diamond and reverse circulation drilling in the March quarter. The program has now delivered 75 holes across Medcalf and Medcalf West, confirming stacked spodumene-bearing pegmatite swarms that dip at 45 degrees from surface, a geometry well suited to future open pit mining.
New assay results from diamond hole CLMDD004 and RC hole CLMRC066 confirm wider and deeper spodumene mineralisation, including combined widths of 26m at 1.11% Li2O and 22m at 1.0% Li2O, extending lithium mineralisation down dip to 600–700m and along strike to the south-east. Additional intercepts at Medcalf West outside the current resource underline that the deposit remains open, and Charger plans to revise its maiden Medcalf lithium resource of 8.2Mt at 1.0% Li2O once all assays are received, with expectations of a significant increase that could enhance the project’s scale and attractiveness for stakeholders.
More about Charger Metals NL
Charger Metals NL is an Australian mineral exploration company focused on lithium and gold, with its flagship Lake Johnston Lithium and Gold Project in the Yilgarn region of Western Australia. The company is targeting spodumene-bearing pegmatites at the Medcalf Spodumene Project, which is strategically located about 200km from Esperance Port and near existing spodumene processing plants, positioning it to serve the growing lithium market.
Average Trading Volume: 291,990
Technical Sentiment Signal: Sell
Current Market Cap: A$6.74M
See more insights into CHR stock on TipRanks’ Stock Analysis page.