Looking deeper at the Medcalf spodumene prospect. Pic: via Getty Images
Mining
Special Report: Charger Metals has kicked off diamond drilling to test for depth extensions of lithium mineralisation intersected by previous reverse circulation drilling at the Medcalf spodumene prospect within its Lake Johnston project in WA’s Yilgarn province.
The 41-hole RC drill program completed last year intersected high-grade lithium in a swarm of stacked spodumene-bearing pegmatite veins over a strike length of 700m at Medcalf.
Notable intersections were 4m at 2.06% Li2O from 145m, 6m at 1.56% Li2O from 19m, and 6m at 1.52% Li2O from 26m with pegmatites intersected on nearly every drill section.
More recently, Charger Metals (ASX:CHR) collected rock chip samples assaying up to 4.2% Li2O from a new pegmatite outcrop which extends for 85m on a 1.2km trend towards the Medcalf prospect.
Further highlighting the potential of its Lake Johnston project, drilling in 2024 will be funded by Rio Tinto Exploration (RTX), a wholly-owned subsidiary of Rio Tinto (ASX:RIO), which has currently budgeted $3m for exploration under a farm-in agreement.
Exploration in 2024 has kicked off with diamond drilling to test for significant depth extensions to the lithium mineralisation at Medcalf.
This will be followed by systematic exploration consisting of more diamond and RC drilling over priority target areas across the project tenure.
Preparations for upcoming RC drill programs are advanced while Aboriginal heritage clearance surveys with the Ngadju traditional owners are currently underway at the Mt Gordon prospect, the extensions to Medcalf, and the new spodumene trend to the southwest of Medcalf.
The company has also executed an Aboriginal Heritage Agreement (AHA) with the Marlinyu Ghoorlie traditional owners for the Mt Day tenements at Lake Johnston, and preparations are well underway for an Aboriginal heritage clearance survey over the Mt Day prospect and surrounds for drill programs planned for later this year.
“We are pleased to have commenced diamond drilling at our Lake Johnston lithium project and are excited by the potential of our planned exploration programs in 2024,” managing director Aidan Platel said.
“The RTX farm-in agreement is a great result for the Company and ensures we are well funded moving forward, as shown by the strong shareholder support at our recent EGM. We look forward to working closely with RTX and to further exploration success this year at Lake Johnston.”
This article was developed in collaboration with Charger Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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