{"id":2447,"date":"2023-11-29T03:22:46","date_gmt":"2023-11-29T03:22:46","guid":{"rendered":"https:\/\/economicherald.net\/?p=2447"},"modified":"2023-11-29T03:22:46","modified_gmt":"2023-11-29T03:22:46","slug":"charger-metals-unearths-spodumene-pegmatites-grading-4-2-at-lake-johnston","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=2447","title":{"rendered":"Charger Metals unearths spodumene pegmatites grading 4.2% at Lake Johnston"},"content":{"rendered":"<p>Rock chip samples uncover a new pegmatite outcrop which extends 85m towards the Medcalf prospect at Charger\u2019s Lake Johnston project<br \/>\nTwo other spodumene-bearing pegmatite outcrops are located along the same trend with assays up to 2.2% Li2O and 2.5% Li2O, respectively<br \/>\nThe new trend is a priority lithium target that will be incorporated into upcoming drill programs<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Rock chip samples from a recently identified pegmatite outcrop at the Lake Johnston lithium project in WA have returned high-grade lithium assays up to 4.2% Li2O.<\/strong><\/p>\n<div><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\">\ufeff<\/span><\/div>\n\n<p><a href=\"https:\/\/astockhead.com.au\/company\/charger-metals-chr\/\">Charger Metals (ASX:CHR)<\/a> has added 75% to its stock value over the past month after inking a lucrative farm-in agreement with Rio Tinto\u2019s (ASX:RIO) exploration arm over the Lake Johnston project.<\/p>\n<p>Rio Tinto Exploration (RTX) can earn up to 75% of the CHR\u2019s own Lake Johnston project (just a stone\u2019s throw from TG6 project of the same name) via a stage exploration spend totalling $42.5 million.<\/p>\n<p>RTX will pay Charger $500,000 and put another $1.2m into the company before the farm in starts and spend $3m over 12 months.<\/p>\n<p>Rio\u2019s move into Lake Johnston, an area east of Norseman best known for\u00a0<a href=\"https:\/\/stockhead.com.au\/company\/poseidon-nickel-pos\/\"><strong>Poseidon Nickel\u2019s (ASX:POS)<\/strong><\/a>\u00a0mothballed Maggie Hays and Emily Ann nickel mines and the Lake Johnston plant, comes after a rush in the area started by\u00a0<a href=\"https:\/\/stockhead.com.au\/company\/tg-metals-tg6\/\"><strong>TG Metals (ASX:TG6)<\/strong><\/a>\u00a0and its Burmeister prospect.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Visual spodumene crystals extend for 85m towards Medcalf <\/strong><\/h2>\n<p>But the story of Lake Johnston\u2019s lithium prospectivity is only just beginning with assay results from rock chip samples confirming high-grade lithium up to 4.2% Li2O from a newly discovered pegmatite.<\/p>\n<p>CHR says three samples were collected from across the outcrop \u2013 which was discovered during field mapping and extends for 85m \u2013 with all three returning high grade lithium results of 4.2%, 3.7%, and 3.5% Li2O.<\/p>\n<p>The total distance of this new trend of spodumene-bearing pegmatite outcrops is over 1.2km, providing potential for scale and striking northeast towards the Medcalf prospect.<\/p>\n<p>Spodumene crystals are also visible and are estimated to be up to 40- 50% of the total volume.<\/p>\n<p>Rock chip sample results from a 1.2km trend of spodumene-bearing pegmatites to the southwest of the Medcalf prospect. Pic via Charger Metals<\/p>\n<p>\u00a0<\/p>\n<h2><strong>New trend incorporated into upcoming drilling <\/strong><\/h2>\n<p>\u201cThe discovery of this high-grade spodumene-bearing pegmatite outcrop is exciting,\u201d CHR managing director Aidan Platel says.<\/p>\n<p>\u201cThe fact we have three pegmatite outcrops with visual spodumene and confirmed high grade lithium assays along a 1.2km trend suggests the potential for large-scale lithium mineralisation.<\/p>\n<p>\u201cThis new trend of pegmatites is obviously a high priority target and will be incorporated into the upcoming drill programs at Medcalf.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>What else is happening? <\/strong><\/h2>\n<p>Permitting is continuing for planned drill programs.<\/p>\n<p>A Program of Works (PoW) has been approved for infill and extensional diamond drilling at the Medcalf prospect, which also includes the northeastern-most pegmatite of the new trend.<\/p>\n<p>Aboriginal Heritage surveys are planned for December and will cover the rest of the new pegmatite trend as well as the Mt Gordon Prospect, as are targeted environmental surveys.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Charger Metals, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/charger-metals-unearths-spodumene-pegmatites-grading-4-2-at-lake-johnston\/\">Charger Metals unearths spodumene pegmatites grading 4.2% at Lake Johnston<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Rock chip samples uncover a new pegmatite outcrop which extends 85m towards the Medcalf prospect at Charger\u2019s Lake Johnston project Two other spodumene-bearing pegmatite outcrops <a href=\"https:\/\/economicherald.net\/?p=2447\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":2448,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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