Charger Metals

Drilling Update For The Bynoe Lithium Project

Charger Metals NL (ASX: CHR, ‘Charger’ or ‘the Company’) is pleased to provide an update on the maiden RC drilling programme at the Bynoe Lithium Project, Northern Territory.


  • First-pass “reconnaissance” reverse circulation (RC) drilling has been completed at the Megabucks and Old Bucks Prospects at the Bynoe Lithium Project, Northern Territory
  • 14 drill-holes were completed across the two prospective target areas for 2,045m
  • Pegmatites1 up to 36m thick (down-hole) with varying degrees of weathering were successfully intersected at both prospects
  • Drilling is now underway at the Enterprise Prospect with the first hole (114m) completed
  • Remote Drilling Services Pty Ltd (RDS) is now on-site for a further ~2,000m programme which will initially focus on the Enterprise Prospect
  • Samples from all completed drill-holes have been submitted to the laboratory, with first assays expected within the next two weeks
Fourteen drill-holes for 2,045m have been completed as first-pass “reconnaissance” drilling at the Megabucks and Old Bucks Prospects (Figure 1). The holes were designed to confirm the presence and size of the pegmatites observed at surface, and to test any pegmatite intersections for potential economic lithium mineralisation.

Pegmatites of varying thickness up to 36m (down-hole) were intersected at both prospects, with weathering ranging from completely oxidised through to predominantly fresh rock in the deeper intersections (Table 1).

All samples from the completed drill-holes have been submitted to the Intertek laboratory in Darwin, with the first batch of results expected within the next two weeks.

First-pass drilling is now underway at the Enterprise Prospect, with the first completed hole recording a shallow 8m intersection of completely weathered pegmatite (Table 1). The programme at Enterprise is continuing with another local drilling contractor, Remote Drilling Services Pty Ltd, using a drill rig capable of drilling to 250m where required. As the ground conditions continue to dry out and improve, the RDS rig will drill a planned ~2,000m at the Enterprise Prospect, as well as deeper holes at the Megabucks and Old Bucks prospects. The programme will also test new emerging drill targets in the area that have been generated from recent reconnaissance mapping by the Company’s geologists.

 

Charger’s Managing Director, Aidan Platel, commented:

“We are pleased with the progress of our maiden drill programme at Bynoe, despite some difficult ground conditions initially. We have completed the first 2,000m across the Megabucks and Old Bucks Prospects and successfully intersected pegmatite1 units, albeit with variable degrees of oxidation and weathering.

With the more capable drill rig now on-site we have the ability to drill deeper into the fresh rock, which is important because lithium is often leached from the host rock by the weathering process.

We look forward to drilling the planned holes at the Enterprise Prospect, and to testing some of our new drill targets which continue to emerge as our technical team spend more time on the ground.

All samples to-date have been submitted to the Intertek lab in Darwin and we look forward to updating the market when the assay results are received.”

Figure 1. Location of the completed RC drill-holes at the Old Bucks, Megabucks and Enterprise Prospects of the Bynoe Lithium Project. Core Lithium’s drill-holes at its Blackbeard Prospect are shown for reference. 2

Cautionary Note

Throughout this document Charger refers to “pegmatite”. While the Company is encouraged by its geological observations, no quantitative or qualitative assessment of lithium mineralisation is possible at this stage. Drilling widths reported are down-hole and no estimate of true width is given. The observed presence of pegmatite does not necessarily equate to lithium mineralisation until confirmed by chemical analyses which are currently underway.


Click here for the full ASX Release

This article includes content from Charger Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

CHR:AU
The Conversation (0)
Salt flats with text overlay: '5 Top Australian Mining Stocks This Week'

Top 5 Australian Mining Stocks This Week: Argosy Climbs 89 Percent on Rincon Lithium Spot Contract

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top performing stocks includes firms focused on a wide variety of metals, including lithium, rutile and manganese. Lithium stocks, including top gainer Argosy Minerals (ASX:AGY), picked up momentum this week as prices moved upwards for a second straight week.

Companies focused on magnetite and rare earths were also among the week's top performers, including Freehill Mining (ASX:FHS), which saw its shares surge following insider buying from key executives including Chairman Benjamin Jarvis.

Keep reading...Show less
Metallic battery with a world map etched on it, against a dark background.

3 Key Themes from Fastmarkets' 2025 Lithium Supply & Battery Raw Materials Event

Market volatility, Chinese control, supply chain risk mitigation and financing emerged as some of the most prevalent themes at the 2025 Fastmarket’s Lithium Supply Battery Raw Materials (LBRM) conference in Las Vegas.

The event, which is in its 17th year, drew a crowd of roughly 1000 delegates, industry experts and analysts, to discuss the current landscape and future projections of the battery materials sector.

During his opening remarks, Fastmarkets CEO Raju Daswani highlighted the growth and maturation the battery raw materials sector has experienced.

Keep reading...Show less
Metals Australia (ASX:MLS)

Metals Australia


Keep reading...Show less
Futuristic skyline with electric car chargers and glowing cityscape at sunset.

Expert: African Lithium Key to China's Battery Supply Chain Dominance

With the global shift to electric vehicles (EVs) accelerating, China is cementing its dominance over the lithium supply chain by pouring investment into African mines, creating a new center of gravity for the battery metal.

Speaking at the Lithium Supply Battery Raw Materials conference, Claudia Cook senior analyst at Fastmarkets offered a sweeping assessment of how China is reshaping global lithium flows and why Africa will be crucial in the next decade.

Cook laid out in detail how China’s lithium strategy is evolving. As the world’s largest EV market, China needs a consistent, low-cost supply of lithium — but its domestic production is increasingly insufficient.

Keep reading...Show less
Electric vehicle charging with blue background.

Market Pain, Strategic Gain: Pilbara Minerals' Dale Henderson on Today's Lithium Paradox

“(Lithium) is not for the faint-hearted. It demands resilience, foresight and leadership,” said Pilbara Minerals (ASX:PLS,OTC Pink:PILBF) Managing Director and CEO Dale Henderson.

He was speaking at Fastmarkets’ Lithium Supply & Battery Raw Materials Conference, held this week in Las Vegas.

Henderson touched on three main points: current lithium market dynamics, how Pilbara Minerals is navigating the lithium landscape and his recommendations for the global lithium industry.

Keep reading...Show less

Latest Press Releases

Related News

×