Charger’s new intercepts takes strike of Enterprise pegmatite up to the Finniss standard
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The prospectivity of Charger’s Bynoe lithium project in the NT has received a leg up after drilling returned new spodumene-bearing pegmatite intersections up to 24m wide at the Enterprise prospect.
Reverse circulation and diamond drilling intersected the new pegmatites both along strike and down-dip from previously reported intersections such as 7m grading 0.96% Li2O from a down-hole depth of 107m including 5m at 1.13% Li2O from 108m in hole CBYRC023 and 16m at 0.65% Li2O from 185m including 1m at 1.91% Li2O from 198m in CBYRC024.
Importantly for Charger Metals (ASX:CHR), the drilling has now defined the spodumene-bearing pegmatite at the Enterprise prospect over a strike length of about 200m, which is typical of the known mineralised pegmatites in the Finniss region.
That can only be a good thing as Bynoe is directly along strike from Core Lithium’s producing Finniss lithium project, which shipped 5,423t of spodumene concentrate grading 5,35% Li2O during the June 2023 quarter as it continues its ramp-up.
The pegmatite trends northeast-southwest and dips steeply to the southeast, where it remains open at depth, while logging of core from hole CBYD003 suggests that the spodumene is increasing in both grain size and abundance with depth though more drilling is required to test this finding.
“It has been pleasing to see the spodumene discovery at the Enterprise Prospect grow with new drilling intersections extending the mineralisation along strike and down-dip,” managing director Aidan Platel said.
“The strike is now approximately 200m long, which is typical of the strike of the known lithium deposits in the region.
“The observed increased grain size and abundance of spodumene in diamond hole CBYD003 is suggesting a potential increase in lithium grade at depth, and we look forward to continuing to test the depth extensions with further diamond drill-holes.”
RC holes have been logged and samples submitted to the laboratory for chemical analysis while the diamond holes have been logged and the core is being cut for sampling and laboratory submission. Assays are expected back within four to six weeks.
While drilling at Enterprise has been remarkably successful, it is by no means the only activity that the company is carrying out at the Bynoe project.
Charger has started first pass RC drilling at the high priority 7Up prospect, which lies on the same prospective structural corridor as Core Lithium’s Ah Hoy (1.05Mt at 1.16% Li2O) and Penfolds (0.57Mt at 1.04% Li2O) lithium deposits as well as its Sea Dog prospect.
Besides testing 7Up, this RC program will also drill test newly defined priority targets such as Kraken and Bunbury, which are just two of the 20 targets areas delineated at the company’s tenure at Bynoe and are defined by multiple pegmatite outcrops and/or historical tin-tantalum workings.
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.