Charger Metals have taken 100% ownership of the Lake Johnston Lithium Project claiming mineral rights on the Project’s exciting Medcalf tenements a day after reporting encouraging spodumene pegmatites just 70km west of the large Earl Grey Lithium Project under development.
Charger has signed a binding agreement with Lithium Australia Limited to buy its 30 per cent minority interest in the Lake Johnston Lithium Joint Venture.
The timing could not be better, with an additional 10 holes revealing more stacked spodumene-pegmatites up to 13m2.
The additional holes provide an exciting follow-on from last year’s pre-Christmas run of 17 of 20 holes, showing significant lithium mineralisation and potential for significantly larger down dip extensions along the 160-metre open strike.
With drilling at the Medcalf Spodumene Discovery returning very promising pegmatite intersections, Charger is pleased to have reached agreement with Lithium Australia to increase its project equity to 100% for lithium discoveries throughout the Lake Johnston Lithium Project,” Managing Director David Crook said.
About the Lake Johnston Lithium Project
The Lake Johnston Lithium Project is located 450km east of Perth, Western Australia. Charger’s tenement portfolio ownership is described in Table 1.
Lithium prospects occur within a 50km long corridor along the southern and western margin of the Lake Johnston granite batholith. Key prospects include the advancing Medcalf Spodumene Prospect discovery and much of the Mount Day LCT pegmatite field, prospective for lithium and tantalum minerals.
The Lake Johnston Lithium Project has attracted considerable interest due to its proximity to the large Earl Grey Lithium Project under development by Covalent Lithium Pty Ltd (manager of a joint venture between subsidiaries of Sociedad Quiìmica y Minera de Chile S.A. and Wesfarmers Limited) located approximately 70km west of the Lake Johnston Project. Mt Holland is understood to be one of the most significant undeveloped hard-rock lithium projects in Australia, with Ore Reserves for the Earl Grey Deposit estimated at 189 Mt at 1.5% Li2O3.
