Charger Metals provides update on Lake Johnston Lithium Project

Charger Metals NL (ASX: $CHR) has completed an infill soil-sampling programme at the Mt Gordon Prospect and detailed structural mapping and interpretation at the Medcalf and Mt Day prospect areas of its Lake Johnston Lithium Project in Western Australia. The company is pleased to provide an update on the exploration work, which is being funded by Rio Tinto Exploration Pty Limited pursuant to a farm-in agreement.

Executive commentary on exploration progress

The exploration team, in collaboration with our project partner RTX, has been very busy at our Lake Johnston Lithium Project with systematic work programmes across much of the project area. Exploration has been completed both in new areas in order to potentially define new prospective areas, as well as across known target areas like Mt Gordon and Medcalf to better define the targets for upcoming drill programmes. The drilling approvals process has been frustratingly slow, but we now expect to receive the final PoW approvals later this quarter and we look forward to drill-testing our priority lithium targets as soon as possible.

Summary of Lake Johnston Lithium Project update

Charger Metals has completed an infill soil-sampling programme at the Mt Gordon Prospect and detailed structural mapping and interpretation at the Medcalf and Mt Day prospect areas of its Lake Johnston Lithium Project. The company expects the results of the soil-sampling programme in 3 - 4 weeks and anticipates receiving approvals for reverse circulation drill programmes at Mt Gordon and Medcalf later this quarter. The project is being funded by Rio Tinto Exploration Pty Limited under a farm-in agreement. Charger Metals has budgeted $3 million for exploration programmes in 2024, including RC and diamond drilling programmes of priority targets, and aims to commence drilling as soon as approvals are received. The company's Managing Director, Aidan Platel, expressed frustration with the slow approvals process but looks forward to testing the priority lithium targets. The Lake Johnston Lithium Project is located 450km east of Perth, in the Yilgarn Province of Western Australia, and is expected to yield significant results in the near future.