Charger Metals has finished off an intensive 14-hole RC first-pass drilling campaign at its Megabucks and Old Bucks prospects at the Bynoe Lithium project in the NT.

Charger Metals (ASX:CHR) completed 14 drill-holes for 2,045m across the two prospective target areas in its maiden drilling program, with assays expected to be returned within the next two weeks.

The explorer struck pegmatites up to 36m thick down-hole with varying degrees of weathering.

With a first 114m hole completed, drilling is now focused at the Enterprise prospect for a further 2,000m, as well as deeper holes at the Megabucks and Old Bucks prospects.

CHR will also test new emerging drill targets in the area from recon mapping where pegmatites have been observed.

Samples from all completed drill-holes have been submitted to the laboratory, with first assays expected within the next two weeks.

CHR’s Bynoe Lithium project is close to the  Core Lithium (ASX:CXO)  Finess lithium project which has a mineral resource of 30.6Mt at 1.31% Li2O.

Location of completed RC drill holes at the Old Bucks, Megabucks and Enterprise Prospects of the Bynoe Lithium Project. Core Lithium’s drillholes at its Blackbeard prospects shown for reference. Source: CHR

CHR managing director Aidan Platel said the company was pleased with the progress of its maiden drill program at Bynoe, despite some difficult ground conditions initially.

“We have completed the first 2,000m across the Megabucks and Old Bucks Prospects and successfully intersected pegmatite units, albeit with variable degrees of oxidation and weathering.

“With the more capable drill rig now on-site we have the ability to drill deeper into the fresh rock, which is important because lithium is often leached from the host rock by the weathering process.

“We look forward to drilling the planned holes at the Enterprise Prospect, and to testing some of our new drill targets which continue to emerge as our technical team spend more time on the ground.”

He said all samples to-date have been submitted to the Intertek lab in Darwin.




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.