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Charger Metals NL ( (AU:CHR) ) has issued an announcement.
Charger Metals NL announced significant progress in its Lake Johnston Lithium and Gold Project, including a maiden inferred mineral resource estimate of 8.2 million tonnes at 1.0% Li2O for the Medcalf Lithium Deposit. The company has commenced a 3,000-meter reverse circulation drill program to test priority lithium and gold targets, with results expected in the coming weeks. The exploration is funded by Rio Tinto Exploration under a farm-in agreement, allowing them to earn a 51% interest by investing $10 million. This development underscores the potential for expanding near-surface resources and enhances Charger Metals’ positioning in the battery minerals sector.
More about Charger Metals NL
Charger Metals NL is a company engaged in the exploration of battery minerals and gold, with a focus on lithium and gold projects. The company is actively involved in the Lake Johnston Lithium and Gold Project in Western Australia, where it collaborates with Rio Tinto Exploration Pty Limited to explore and develop lithium resources.
Average Trading Volume: 177,251
Technical Sentiment Signal: Buy
Current Market Cap: A$8.71M
Learn more about CHR stock on TipRanks’ Stock Analysis page.