Charger Metals (ASX:CHR)

Charger Metals September 2023 Quarterly Activities Report

Lithium explorer Charger Metals NL (ASX: CHR, ‘Charger’ or ‘the Company’) is pleased to provide the following Activities Report for the period of July to September 2023, inclusive (the ‘Quarter’).


HIGHLIGHTS

Bynoe Lithium Project, Northern Territory

  • Assay results confirmed lithium (Li) and tantalum (Ta) mineralisation in pegmatites at three of the seven prospects drilled in the maiden drill programme at the Bynoe Lithium Project in NT
  • Ambient Noise Tomography (ANT) and ground gravity surveys were completed over a large area in the northeast of the Bynoe Project
    • Data from geophysical surveys are being processed and modelled with the aim of detecting any potentially large “blind” pegmatite systems that do not outcrop
  • Additional infill surface geochemical sampling and mapping programmes were also completed in the northeast, and assays are pending

Lake Johnston Lithium Project, Western Australia

  • Priority targets identified at Medcalf to test for extensions to the high-grade lithium mineralisation returned from drilling spodumene-bearing pegmatites in the maiden RC drill programme completed in Q2 2023
  • Preparation and permitting commenced for upcoming exploration programmes including RC and diamond drilling at the Medcalf Spodumene Prospect and Mt Day Lithium Prospect

Corporate

  • During the quarter the Company commenced a process to consider partnering with a strategic investor(s) to fund either its Bynoe or Lake Johnston Projects
  • At the end of the September quarter, the Company held cash reserves of $2.06M
  • The Company has 62.1 million fully paid ordinary shares on issue and an undiluted market capitalisation of approximately $9.9 million as at 30 October 2023
  • The top 20 shareholders hold approximately 47.1% of the issued shares

BYNOE LITHIUM PROJECT, NORTHERN TERRITORY (CHARGER - 70% INTEREST)

The Bynoe Lithium Project is located approximately 35 km southwest of Darwin, Northern Territory, with excellent access and nearby infrastructure. Charger’s Project is enclosed by Core Lithium Limited’s (ASX:CXO; “Core”) Finniss Lithium Project (Figure 1), which has a mineral resource of 30.6Mt at 1.31% Li2O.1 Core has commenced mining and beneficiation activities at its Finniss Project and announced the shipping of spodumene concentrate in the June 2023 quarter.


Click here for the full ASX Release

This article includes content from Charger Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

CHR:AU
The Conversation (0)
Lithium periodic symbol and Canadian flag.

Top 5 Canadian Lithium Stocks of 2025

The lithium market continued to battle headwinds during the first quarter of 2025 as residual oversupply weighed on prices, pushing them to a four year low.

Weaker-than-expected demand to start the year also added pressure to the oversupplied market, resulting in the lithium carbonate CIF North Asia price to fall below US$9,550 per metric ton, its lowest point since 2021.

Analysts have suggested the persistent downturn is the signaling of a market bottom. This theory is further supported by a projected production reduction that will help absorb market oversupply.

Keep reading...Show less
Green blocks with leaves on them push purple blocks with "CO2" written on them.

Funding the Energy Transition: The Role of Public and Private Finance in Building Supply Chains

The energy transition demands substantial funding as participants look to build out infrastructure and supply chains, but experts say new solutions are emerging to help navigate this landscape.

During the "Financing the Energy Transition" panel at the Benchmark Summit, participants discussed the role of government and public sector investment, as well as the outlook for Canada's electric vehicle (EV) supply chain.

Moderated by Adam Webb, head of battery raw materials at Benchmark Mineral Intelligence, the discussion at the Toronto-based event opened with a snapshot of Canada’s EV battery supply chain buildout.

Keep reading...Show less
International Lithium Chairman and CEO John Wisbey.

International Lithium Plans PEA on Rubidium Resource at Raleigh Lake Project, CEO Says

John Wisbey, CEO of International Lithium (TSXV:ILC), discusses the company's strategic sale of its Irish lithium property, progress on the Raleigh Lake lithium-rubidium project in Canada and expansion efforts in Zimbabwe.

Lithium Universe

Lithium Universe


Keep reading...Show less
Lithium periodic symbol and powder overlayed with world map.

Top 4 Largest Lithium Reserves by Country

Those interested in the lithium sector and investing in lithium stocks are often curious about which countries are the top producers of the battery metal, but they may not stop to consider the top lithium reserves by country.

Major lithium-producing countries are, of course, home to a large number of lithium companies. Many of the world’s top lithium producers also hold significant reserves, and their reserves can give an idea of how much room those countries have to grow. At the same time, nations with high reserves may become more significant lithium players in the future.

Looking forward, lithium demand is expected to continue increasing. That’s because, together with metals such as cobalt, lithium is a key raw material in the lithium-ion batteries used to power electric vehicles, and it is also essential for the energy storage sector.

Keep reading...Show less

Latest Press Releases

Related News

×