Lithium Australia NL (ASX:LIT, OTC:LMMFF) investee Charger Metals NL has confirmed drill-ready lithium targets at the Bynoe Project in the Northern Territory following a soil geochemistry and mapping program.
The Bynoe Project ownership is split 70% to Charger Metals and 30% to Lithium Australia NL and is surrounded by Core Lithium Ltd (ASX:CXO)’s Finnis Lithium Project.
To date, 3,034 soil samples have been taken with 637 assays received. Results have highlighted three parallel, drill-ready targets at the Enterprise 1, Enterprise 2 and Bucks lithium trends.
“Very encouraged”
Charger managing director David Crook said: “Charger places great emphasis on the initial combination of soil geochemistry and mapping as key activities when generating drill targets for lithium. We are very encouraged by the three walk-up drill targets identified to date despite having received only 21% of the assays.”
Through mapping, Charger’s geologists located many outcropping pegmatites, however, others are expected to be found and the pegmatite’s fertility indicated, through the use of geochemistry tailored for the discovery of lithium-caesium-tantalum (LCT) systems.”
Three drill targets
Three drill targets have been identified at the centrally located Enterprise 1, Enterprise 2 and Bucks lithium trends.
Enterprise 1 is made up of poorly outcropping pegmatite and was previously evaluated for tantalum. Charger’s geochemistry program has generated a strong lithium anomaly with supporting elements common in LCT pegmatite systems. The target has a strike length of 600 metres.
Enterprise 2 is a swarm of more prominently outcropping pegmatites with a strike length exceeding 400 metres. While soil geochemistry is anomalous in lithium, this prospect also has a very strong, coincident caesium anomaly, another distinctive element in LCT pegmatite systems.
Bucks Trend includes the artisanal-scale tin/tantalum workings named Old Bucks and Mega Bucks. Lithium anomalies were returned from geochemical drilling completed in the mid-2000s and with Charger’s 2021 geochemistry, a target that is at least 1 kilometre in length is indicated.
Next steps
Charger Metals looks forward to receiving the balance of the soil geochemistry results. An aeromagnetic survey has commenced to help orient and extend prospective areas that are evident from mapping and geochemistry and to also better trace buried pegmatites.
Priority targets, such as those at the Enterprise 1, Enterprise 2 and Bucks Lithium Trends, will be prepared for drilling during early 2022.
Disruptive technologies
Lithium Australia aspires to ‘close the loop’ on the energy-metal cycle. The company’s disruptive technologies are designed to furnish the lithium battery industry with ethical and sustainable supply solution.
Lithium Australia’s technology comprises the SiLeach® and LieNA® lithium extraction processes, along with superior cathode material production courtesy of subsidiary VSPC Ltd and enhanced recycling techniques for battery materials.