- Geodrilling Pty Ltd signs contract for first reverse circulation (RC) program at Bynoe Lithium Project in Northern Territory
- The 2,000m program is designed as a first pass test of high priority targets including the prospects of Old Bucks and Megabucks.
- A third priority target called Enterprise Prospect is also tested in this first pass program. The Enterprise is located along Core Lithium Limited’s (ASX:CXO) strike from Blackbeard Prospect, which includes the following significant excavation crossings recently announced:
- 137m to 41m @ 1.63% Li2O (SRC117)
- 59m @ 1.54% Li2O to 158m (SRC118) and
- 101m to 71m @ 1.05% Li2O (SRC119) 1
- Training program to start in the second week of May
Charger Managing Director Aidan Platel commented:
“We are thrilled to secure a drilling contractor for our first drilling program at Bynoe. The First Pass program will drill priority targets such as Old Bucks, Megabucks and Enterprise. Geochemical anomalies, historical work and nearby boreholes all suggest that these prospects likely host significant lithium mineralization.
We have obtained all the necessary permits and contracted a local drilling company for ground excavation to complete the last major item. With the region’s ‘wet season’ coming to an end, we look forward to gaining momentum as we begin our first drill program in the coming weeks. ”
Charger has awarded Geodrilling Pty Ltd (“Geodrilling”), a well-respected local drilling company, a contract to drill an initial RC program of approximately 2,000m.
The drill program is designed to test three priority target areas that we believe have high potential for significant pegmatite-hosted lithium mineralization. Old Bucks Prospect includes a powerful lithium anomaly on the surface whose strike spans over 800m and up to 500m wide, and pegmatites are seen in historic artisanal tin work.
Megabacs Prospect also contains lithium anomalies in the soil up to 800 m long, with significant pegmatites up to 70 m thick defined by historic deep trenches across the strike.
A third priority target called Enterprise Prospect is also tested in this first pass program. The Enterprise is also delineated by a large lithium anomaly on the surface, located in line with a strike from Core Lithium Limited’s (ASX:CXO) Blackbeard Prospect, which recently announced the following significant Excavation intersections are included.
- 137m to 41m @ 1.63% Li2O (SRC117)
- 59m @ 1.54% Li2O to 158m (SRC118) and
- 101m (SRC119) to 71m @ 1.05% Li2O. 2
Earthwork will begin shortly with an excavation program scheduled to begin the second week of May.
Figure 1. Position of Old Bucks, Megabucks, and Enterprise Prospects for the Bynoe Lithium Project, the focus of the first drill program. For reference, here’s the core lithium borehole at Blackbeard Observatory.
About Charger Metals NL
Charger Metals NL is a well-funded exploration company targeting battery metals and precious metals in three emerging battery mineral regions in Australia.
Bynoe Lithium and Gold Project, Northern Territory (Charger 70%)
The Bynoe Project is located within Litchfield Pegmatite Fields, approximately 35 km southwest of Darwin in the Northern Territory, with nearby infrastructure and excellent all-weather access. Charger’s Project is included in Core Lithium Limited’s (ASX:CXO) Finniss Lithium Project, which holds 30.6 million tonnes of mineral resources at 1.31% Li2O.3. of.
Geochemical, aeromagnetic program and open file studies completed by Charger suggest multiple swarms of LCT pegmatites ranging from the neighboring Finis Lithium Project to the Bynoe Project. Geochemical results highlight two large LCT pegmatite target zones, with sizeable strike lengths of 8 km at Megabucks and 3.5 km at 7-Up. Within each pegmatite zone, numerous drillable lithium targets have been identified.
Planning and permitting of first training program at Bynoe completed.
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This article includes content from Charger Metals licensed for publication on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to exercise appropriate due diligence before acting on any information provided herein. See full disclaimer here.
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