Charger’s Drilling Approved For The Bynoe Lithium Project

“With Bynoe drilling approvals now received, Charger personnel are on-site finalising access to the proposed drill sites following recent weather events.

“The Company believes that the Bynoe Lithium Project provides an excellent, drill-ready opportunity, targeting outcropping pegmatites with strong lithium anomalies.”

Drilling preparations for the Bynoe Lithium Project advancing

Charger personnel are in Darwin finalising site access and drilling logistics, bearing in mind the current weather conditions and upcoming wet season. The provision of vehicle access tracks to drill sites is the immediate priority and discussions have advanced with drilling contractors around rig start dates. Charger aims to drill as many holes at the Bynoe Lithium Project this quarter as weather permits.

Drill holes are to be sited to test targets where geochemistry and mapping programmes indicates that LCT pegmatite swarms, which may host spodumene, occur.

Priority targets shown on Figure 2 include:

• The Megabucks Zone, approximately 8km long and up to 4km wide, with numerous LCT pegmatites including at Jenna’s, Megabucks, Old Bucks, Neil’s and Enterprise.
  
• The 7-Up Zone, which is defined by a continuous, linear, 1.5km long lithium-caesium geochemical anomaly within a broader zone that is 5km x 2km.

While the soil geochemistry signature of each lithium anomaly is different, all are generally multi- elemental in nature. Coincident elements include all or some of lithium, beryllium, caesium, tin and rubidium. These are classic element associations of lithium endowed LCT pegmatites.

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 via sealed roads and with nearby infrastructure. Charger’s Project is enclosed by Core Lithium Limited’s Finniss Lithium Project (Figure 1), which has a mineral resource of 18.9Mt at 1.32% Li2O ¹. Core Lithium, which has an approximate $2.6 billion market capitalisation, commenced construction and mining activities at its Finniss Lithium Project and has announced the sale of direct shipping spodumene ore during the December 2022 quarter. Core Lithium is constructing its lithium processing plant just 7km north of Charger’s Bynoe Lithium Project.

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