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The latest update is out from Charger Metals NL ( (AU:CHR) ).
Charger Metals NL is an Australian exploration company focused on lithium and gold, with its flagship Lake Johnston Lithium and Gold Project in the Yilgarn region of Western Australia. The Medcalf Spodumene Project within Lake Johnston benefits from proximity to the Esperance Port and multiple nearby spodumene concentration plants, providing potential logistical and processing advantages.
The company completed 3,418m of diamond and RC drilling at the Medcalf Spodumene Deposit in the March quarter, confirming stacked spodumene-pegmatite lodes carrying lithium and tantalum from surface to 600–700m down dip. Recent assay results show thicker lodes at depth, continuity of mineralisation and extensions beyond the current 8.2Mt at 1.0% Li2O maiden resource, prompting a planned resource upgrade that could materially improve project scale, although further drilling at the Xmas Gold Prospect did not extend earlier gold results.
These drilling outcomes indicate Medcalf remains open along strike and down dip, with 75 holes now underpinning the Medcalf and Medcalf West lithium deposits. The geometry of the mineralised pegmatite swarm, dipping at about 45 degrees from surface, suggests suitability for open pit mining and reinforces Charger Metals’ positioning within Western Australia’s lithium sector.
More about Charger Metals NL
Charger Metals NL is an Australian exploration company focused on lithium and gold, with its flagship Lake Johnston Lithium and Gold Project in the Yilgarn region of Western Australia. The Medcalf Spodumene Project, part of Lake Johnston, is strategically located about 200km from Esperance Port and near several existing spodumene concentration plants, positioning the company to benefit from established lithium processing infrastructure.
The company has completed 3,418m of diamond and reverse circulation drilling at Medcalf, confirming stacked spodumene-pegmatite lodes with significant lithium and tantalum mineralisation from surface to 600–700m down dip. Recent results demonstrate continuity, increasing thickness at depth and mineralisation beyond the maiden 8.2Mt at 1.0% Li2O resource, supporting an upcoming resource upgrade that could enhance project scale and mining potential, while additional drilling at the nearby Xmas Gold Prospect failed to extend earlier high-grade gold intercepts.
Average Trading Volume: 309,407
Technical Sentiment Signal: Buy
Current Market Cap: A$8.18M
For an in-depth examination of CHR stock, go to TipRanks’ Overview page.