Charger To Take 100% Ownership Of Lake Johnston Lithium Project

Charger Metals NL (ASX: CHR, ‘Charger’ or ‘the Company’) is pleased to advise that it has signed a binding agreement to buy Lithium Australia Limited’s (ASX: “LIT”) 30% minority interest in the Lake Johnston Joint Venture (Agreement) in Western Australia, increasing Charger’s interest to 100% of all mineral rights for the southerly Medcalf tenements, importantly including the Medcalf Spodumene Discovery, and 100% of the lithium rights for the more northerly Johnston Lakes Nickel tenements including the Mt Day LCT pegmatite field.

• Charger has signed a binding agreement with Lithium Australia Limited to buy its 30% minority interest in the Lake Johnston Lithium Joint Venture.
• This transaction further complements Charger’s recent consolidation in the LakeJohnston greenstone belt.
• Charger is currently drilling a 40-hole programme at the Medcalf Spodumene Discovery.

Figure 1: Charger now has 100% of all mineral rights for the Medcalf Tenements and 100% of lithium rights for the Mount Day Tenements.

Subject to completion, Charger’s resulting landholding is shown in Figure 1 and summarised in Appendix A – Lake Johnston Tenement Schedule. This follows the recent acquisition of exploration licence E63/1883, a tenement in an area considered prospective for lithium1.

Charger’s Managing Director, David Crook, commented:

“With drilling at the Medcalf Spodumene Discovery returning very promising pegmatite intersections, Charger is pleased to have reached agreement with Lithium Australia to increase its project equity to 100% for lithium discoveries throughout the Lake Johnston Lithium Project.”

Drilling the Medcalf Spodumene Discovery

Charger has now completed 27 of the planned 40 reverse circulation drill holes at the Medcalf spodumene discovery, which commenced in late 2022. Drilling is continuing.

Figure 2. Medcalf spodumene discovery showing mapped pegmatite, completed and proposed drill collars and the surface mapped pegmatite swarm.

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