How Charger Metals’ Rio Tinto Deal Could Unlock Major Lithium Discoveries

Strategic Partnership with Rio Tinto Bolsters Lake Johnston Project

Charger Metals NL has taken a significant step forward in its lithium exploration ambitions with a binding farm-in agreement with Rio Tinto Exploration Pty Ltd. Under this deal, Rio Tinto can earn up to a 75% interest in the Lake Johnston Lithium and Gold Project in Western Australia by funding up to $43.7 million in exploration expenditure. This partnership not only validates the project's potential but also provides Charger with substantial financial backing to accelerate its exploration activities.

High-Grade Lithium Discoveries at Medcalf and Medcalf West

Exploration at the Medcalf and Medcalf West prospects within the Lake Johnston project has yielded encouraging results. Drilling has intersected high-grade spodumene-bearing pegmatites, with assays showing lithium oxide grades up to 4.2%. These findings confirm the presence of multiple stacked pegmatite bodies extending over significant strike lengths, suggesting a potentially sizeable lithium system. The Medcalf West prospect, in particular, features a 1.2-kilometre-long spodumene-bearing trend, with preliminary modelling indicating mineralised zones up to 35 metres thick.

Expanding Exploration Targets at Mt Day and Mt Gordon

Beyond Medcalf, Charger has identified several high-priority drill targets at the Mt Day and Mt Gordon prospects, scheduled for testing in the second half of 2025. These areas exhibit large lithium soil anomalies and mapped pegmatite outcrops, with Mt Gordon also showing promising gold and niobium anomalies. Historic drilling at Mt Gordon revealed shallow gold intersections, including 5 metres at 7.15 grams per tonne, which have yet to be fully explored. The company is awaiting approvals to commence drilling, aiming to unlock further value from these targets.

Bynoe Lithium Project – Untapped Potential in Northern Territory

Charger’s 100% owned Bynoe Lithium Project in the Northern Territory remains largely underexplored despite its location adjacent to Core Lithium’s Finniss Lithium Project, which boasts a substantial resource base. The Bynoe tenure hosts confirmed spodumene-bearing pegmatites across more than 20 prospects, with initial drilling intersecting lithium mineralisation up to 1.13% lithium oxide. With over 25 lithium targets identified, the project offers significant upside as systematic drilling progresses.

Countercyclical Exploration Amid Lithium Market Volatility

Charger Metals is pursuing a countercyclical exploration strategy, advancing its projects during a period of subdued lithium prices. While lithium carbonate and spodumene prices have declined since their peaks in 2022, the company highlights the robust long-term demand outlook driven by electric vehicle growth and battery industry expansion. This approach positions Charger to capitalise on future market recovery with a tight capital structure and an experienced management team focused on delivering exploration success.