Charger Metals have completed the highly anticipated maiden lithium drilling at the promising Medcalf Spodumene Discovery, part of the Lake Johnston project near the freakishly large Earl Grey lithium deposit in southern Western Australia.
Results from the eagerly anticipated 41-hole, 7199-metre RC campaign aiming to extend further a swarm of spodumene-bearing pegmatites occurring within a 100-metre zone under transported cover and at depth.
With the drilling programme returning multiple intersections of spodumene-pegmatites, the Company’s geologists are planning deeper core holes designed to expand the known mineralisation to a greater depth,” Charger Managing Director David Crook said.
“Assays from holes drilled in late 2022 included high-grade lithium intersections from surface down to a vertical depth of at least 210m.
“This year’s drilling has increased the known extent of the spodumene-pegmatites which are still open along strike and at depth.”
Perched near the world-class 189Mt @1.5% lithium oxide Earl Grey deposit, Charger is already the sole owner of Medcalf and is set to move to complete control of the lithium rights for all Lake Johnston tenements after agreeing to a transaction with Lithium Australia.
Preparations for a more profound follow-up are advancing, while target generation geochemistry continues over the Mt Day and Medcalf West prospects.
Lithium Market Outlook
The demand for electric vehicles, renewable energy storage, and other lithium-based technologies is expected to drive the growth of the lithium market over the next few years.
Global lithium markets are expected to reach a peak market value of around $5.88 billion by 2023. Australia is expected to supply the lion’s share of high-demand lithium-ion markets in China, Japan, and South Korea.
