Charger Metals (ASX:CHR) - Managing Director and CEO, David Crook
Managing Director and CEO, David Crook
Source: Charger Metals
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  • Charger Metals’ (CHR) recent programs suggest a large lithium system at the Bynoe Lithium Project in Northern Territory
  • The 2021 programs suggest multiple swarms of lithium-caesium-tantalum (LCT) pegmatites and found two large target zones
  • This system could potentially be connected to Core Lithium’s (CXO) Finnis Lithium Project, which the tenement neighbour found pegmatite outcrops at Ah Hoy prospect
  • A drilling program is being planned and will commence once wet season is finished
  • On the market, Charger was up 22.4 per cent and is trading at 71 cents per share

Recent programs suggest there could be a large lithium system at Charger Metals’ (CHR) Bynoe Lithium Project in the Northern Territory.

Byone is owned 70 per cent by Charger and 30 per cent by Lithium Australia (LIT) and is surrounded by Core Lithium’s (CXO) Finniss Lithium Project.

Recent geochemistry and aeromagnetic programs completed at Byone, as well as drilling information provided to the market from Core Lithium, suggests multiple swarms of lithium-caesiumtantalum (LCT) pegmatites that extend from the adjacent Finniss Lithium Project into Charger’s Bynoe Lithium Project.

The geochemistry results highlight two large LCT pegmatite target zones, with significant strike lengths of eight kilometres at Megabucks and 3.5 kilometres at 7-Up prospects.

Within each pegmatite zone are drill-ready targets that have been found, including Megabucks, Jenna’s, Enterprise 1, Enterprise 2, Riverside and 7-Up pegmatites.

While recently, Charger’s tenement neighbour Core, recorded pegmatite outcrops at the Ah Hoy prospect, about 800 metres northeast of Byone and about three kilometres from 7-Up.

Assay results from Ah Hoy included 11 metres at 1.42 per cent lithium oxide and 19 metres at 1.21 per cent lithium oxide.

Managing Director David Crook said the 2021 geochemistry was very successful.

“The interpretation of all geochemistry results suggest a large lithium-mineralised system and provides Charger with an exploration roadmap, enabling prioritisation of the most significant drill-ready targets while identifying areas that need further infill soil sampling and mapping,” he said.

“The company is advancing planning and permitting towards its maiden drilling program at Bynoe, aimed to commence at the cessation of the Northern Territory wet season.”

On the market, Charger was up 22.4 per cent and is trading at 71 cents per share at 12:11 pm AEDT.

CHR by the numbers
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