Charger Resumes Drilling At The Medcalf Spodumene Discovery

Charger Metals NL (ASX: CHR, “Charger” or the “Company”) is pleased to confirm that drilling has resumed at the Medcalf Spodumene Prospect, at its Lake Johnston Lithium Project in Western Australia.

• 17 drill holes completed at the Medcalf Spodumene Prospect, near Lake Johnston, WA, prior to the festive season break.
• Numerous stacked spodumene-pegmatites1, up to 5m wide, intersected in 15 of 17 holes.
• RC drilling has now resumed and 20 holes will test for extensions to the mineralised pegmatites both along strike and at depth.

“Charger’s maiden drilling programme at the Medcalf Spodumene Prospect got off to a very encouraging start before a break for the festive season, with numerous spodumene-bearing pegmatites intersected within a 50m-wide structural zone.

“The first 17 holes have provided critical information about the orientation of mineralisation, and drilling has now resumed to test the 800m by 300m swarm of pegmatites both along strike and at depth.”

Summary of the drilling programme and geological observations

The Medcalf Spodumene Prospect represents a swarm of anastomosing to tabular pegmatites hosted in sheared amphibolite. Medcalf spodumene-pegmatites are members of the lithium- caesium-tantalum (LCT) pegmatite family (albite-spodumene type) and spodumene is clearly observed in many outcrops. Spodumene is the preferred mineral for the commercial production of lithium, which is one component of modern lithium batteries.

Reverse circulation (RC) drilling commenced during December 2022 (see ASX announcement dated 20 December 2022) and has now resumed, with 20 holes planned. Current laboratory turn- around is approximately 7 weeks following the submission of samples.

Spodumene-pegmatites were intersected on each of the 3 sections drilled to date. Individual units, up to 5m in width, have a strike direction of north-west - south-east and dip at approximately -40° towards the south-west (Figures 1 and 2). Thicker pegmatites are recorded on the north-western- most drill section indicating a possible north-westerly plunge to the mineralisation.

About the Lake Johnston Lithium Project

The Lake Johnston Lithium Project is located 450km east of Perth, Western Australia. Charger’s tenement portfolio ownership is described in Table 1.

Lithium prospects occur within a 50km long corridor along the southern and western margin of the Lake Johnston granite batholith. Key prospects include the advancing Medcalf Spodumene Prospect discovery and much of the Mount Day LCT pegmatite field, prospective for lithium and tantalum minerals.

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