Charger exercises Bynoe lithium pre-emptive right
Critical minerals company Charger Metals is taking full charge at the Bynoe lithium project after exercising its pre-emptive rights to acquire the remaining 30% of the lithium project from fellow ASX-listed Livium for A$500 000 in cash.
The move comes after Livium, formerly Lithium Australia, on Wednesday offered the 30% to Core Lithium for A$500 000.
“We are very pleased to move to 100% ownership of our Bynoe lithium project,” said MD Aidan Platel.
“Covering an area of 63 km2 and with more than 20 prospective lithium targets yet to be drilled tested, we believe it’s the largest underexplored area of the Finniss pegmatite field that is both inside the lithium-prospective structural corridor and within 20 km of Core’s spodumene beneficiation plant at Grants,” he stated.
Last quarter, Core was actively drilling directly along trend from some of Charger’s priority target areas, such as at their central Blackbeard Prospect, as well as regional targets surrounding the Ah Hoy prospect to the north-east of the Bynoe tenements.
Platel pointed out that Core on Wednesday announced excellent intersections at Blackbeard of 63 m at 1.67% lithium oxide, including 20 m at 2.09%, along strike from previous intersections of 71 m at 1.05%, 59 m at 1.54% and 41 m at 1.63%.
“This high-grade mineralisation trends to the north-east towards our Bynoe project and is modelled to within 50 m of our tenement boundary,” said Platel.
Charger has defined over 20 prospective areas for lithium at the Bynoe project.
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