Charger Completes Maiden Drilling Programme At The Medcalf Spodumene Discovery

Charger Metals NL (ASX: CHR, “Charger” or the “Company”) is pleased to announce the completion of the maiden drill programme at its 100%-held Medcalf Prospect, located approximately 450km east of Perth, Western Australia. (Refer to Figure 2).

• 24 reverse circulation (RC) drill holes completed in early 2023 - assays due shortly.
• The total programme totalled 41 RC holes, for 7,199 metres of drilling.
• Preparations advancing for follow-on, deeper core drilling.
• Target generation geochemistry continuing at Mt Day and Medcalf West Prospects.

The drilling programme increased the known extent of the swarm of spodumene-bearing pegmatites, which occur within a 100m zone, and demonstrated that these extend under transported cover2 and at depth.

Charger’s Managing Director, David Crook commented:

“With the drilling programme returning multiple intersections of spodumene-pegmatites, the Company’s geologists are planning deeper core holes designed to expand the known mineralisation to a greater depth. Assays from holes drilled in late 2022 included high-grade lithium intersections from surface down to a vertical depth of at least 210m. This year’s drilling has increased the known extent of the spodumene-pegmatites which are still open along strike and at depth.”

OUTLOOK

Down-hole surveys will confirm the dip and provide physical properties of individual pegmatites. The survey tools used will include an optical televiewer and a rock density probe. The information gained is being used in the development of three-dimensional model of the known mineralisation.

When completed, the 3D model will be an aid when planning the next phase of deeper, core drilling.

In preparation for core drilling, extensional heritage and flora surveys have been initiated, and a water management plan implemented.

All samples from the 2022-2023 RC drilling have been submitted to a commercial laboratory for analysis. The first samples from 2023 were submitted mid-February, with the laboratory noting that current the assay turn-around time is in the order of 7 weeks.

In addition, soil geochemistry and detailed mapping will be undertaken at the recently acquired Medcalf (E63/1883) and the Mt Day Prospects. (Refer to Figure 3).

Figure 1: Drill Hole Locations. Blue holes drilled 2022, orange holes drilled in 2023. Pegmatites dip towards the southwest.

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