Charger defines maiden lithium resource at Medcalf deposit
ASX-listed Charger Metals on Monday reported a maiden mineral resource estimate (MRE) for its Medcalf lithium deposit at the Lake Johnston project in Western Australia, highlighting the potential of the emerging lithium district where Rio Tinto is also funding exploration.
The company said the Medcalf deposit hosts an inferred mineral resource of 8.2-million tonnes at 1.0% lithium oxide (Li2O) at a 0.5% cutoff grade. The resource remains open at depth.
An additional exploration target of between 3-million and 5-million tonnes at grades of 1.0% to 1.4% Li2O has been outlined at the Medcalf West prospect, located about 400 m west of the main deposit. Both Medcalf and Medcalf West remain open at depth, Charger said.
“The maiden mineral resource at Medcalf highlights the potential of our Lake Johnston lithium project and is a reward for the systematic greenfield exploration undertaken by the company,” said MD Aidan Platel.
“The lithium mineralisation hosted by spodumene-bearing pegmatites is both near surface (outcropping) and high-grade, and thus bodes well for potential future mining scenarios,” he added.
The company noted that Rio Tinto Exploration continues to sole-fund exploration of other untested lithium targets across the Lake Johnston project, with $1.1-million and up to 5 000 m of drilling budgeted this year.
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