Drilling Underway At Bynoe Lithium Project

Charger Metals NL (ASX: CHR, ‘Charger’ or ‘the Company’) is pleased to announce that drilling has commenced at the Bynoe Lithium Project, Northern Territory.

• Maiden reverse circulation (RC) drill programme has commenced at the Bynoe Lithium Project, NT
• Initial ~2,000m programme has been designed as a first-pass test of high priority targets including the Megabucks, Old Bucks and Enterprise prospects
• The programme is expected to take approximately three weeks

Charger’s Managing Director, Aidan Platel, commented:

“We are thrilled to have commenced our maiden drill programme at our exciting Bynoe Lithium Project. The first-pass programme will drill test priority targets at the Old Bucks, Megabucks and Enterprise Prospects, all of which are located in a structural corridor directly along strike from Core Lithium Limited’s (ASX:CXO) operating Finniss Lithium Mine. ¹

Samples will be submitted to a certified laboratory in Darwin on a regular basis and we look forward to updating the market as the assay results come to hand.”

The first-pass RC drill programme will comprise approximately 2,000m and has been designed to test three priority target areas that the Company believes have high prospectivity for significant pegmatite-hosted lithium mineralisation. The Old Bucks Prospect comprises a strong lithium anomaly at surface that extends over 800m in strike and up to 500m wide, with pegmatites visible in historic artisanal tin workings (Figure 1).

The Megabucks Prospect also exhibits a lithium-in-soils anomaly up to 800m long, with a significant pegmatite up to 70m thick defined by historical deep trenching across the strike.

A third high priority target, the Enterprise Prospect, will also be tested. Enterprise too is characterised by a large lithium anomaly at surface, and is located along strike from Core Lithium Limited’s (ASX:CXO) Blackbeard Prospect, which includes the following recently-announced significant drill intersections:

• 41m @ 1.63% Li2O from 137m (SRC117)
  
• 59m @ 1.54% Li2O from 158m (SRC118) and
• 71m @ 1.05% Li2O from 101m (SRC119). ¹

The drill programme is expected to take approximately three weeks. Over the coming weeks the Company will increase its exploration activities across the Bynoe Lithium Project as the area continues to become more accessible after the region’s “wet season”.

Figure 1. Location of the Old Bucks, Megabucks and Enterprise Prospects of the Bynoe Lithium Project that will be the focus of the maiden drill programme. Core Lithium’s drill-holes at its Blackbeard Prospect are shown for reference. 2

Photograph 1. RC drill rig underway at the first drill-hole location of the maiden drill programme at the Bynoe Lithium Project.

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