Drilling Update For Charger’s Coates Nickel-Copper-PGE Project, Western Australia

Charger Metals NL (ASX: CHR, “Charger” or the “Company”) is pleased to confirm it has completed 593m of diamond drilling at the Coates Ni-Cu-PGE 1 Project (“Coates Project”), located approximately 55km ENE of Perth, Western Australia. The Coates Project contains a mafic intrusive complex (the “Coates Mafic Intrusion”) within the Jimperding Metamorphic Belt, which also hosts the world class, 20Moz palladium equivalent Julimar - Gonneville Ni-Cu-PGE Project2 owned by Chalice Mining Ltd (ASX: CHN) and located 28km NW of the Coates Project (Figure 1, above).

• 4 diamond drill holes for 593 metres completed to plan, with each intersecting the targeted Coates Mafic Intrusion.
• Pyrrhotite and pyrite, with accessory chalcopyrite, assemblage intersected in holes targeting FLTEM conductors at depths close to the modelled position.
• Assays of core samples awaited.

Figure 1. Coates Nickel Copper PGE Project Location approximately 28km southeast of the Julimar Project (Chalice Mining Ltd ASX: CHN).

Charger’s Managing Director, David Crook commented:

“Drilling has tested, on a first pass basis, the compound nickel-copper-PGE (geochemical) and EM3 (geophysical) T1 Target at the Coates Mafic Intrusion and we now eagerly await assays.”

Photo 1: Diamond drilling at Coates Ni-Cu-PGE Project near Julimar.

Coates T1 drilling program update

Four diamond core drill holes were completed at the T1 target for a total of 593 metres, with a fifth abandoned due to poor drilling conditions. Each of the 4 completed holes tested their respect geophysical and geochemical targets and intersected the Coates Mafic Intrusion.

The geological units intersected in drill holes included basalt intruded by dolerites and higher magnesian peridotites of the Coates Mafic Intrusion.

An assemblage of pyrrhotite and pyrite with accessory chalcopyrite, in 5–30-centimetre bands, was intersected in holes targeting FLTEM conductors at depths close to the modelled target depth. (Refer to Table 1 and note below.)

The sulphides occurred with shear-textured quartz veining within basalt close to the contact with the Coates Mafic Intrusion.

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