Can Charger Metals Unlock Hidden Gold and Lithium at Lake Johnston?

Renewed Exploration Momentum at Lake Johnston

Charger Metals NL has reignited exploration activity at its Lake Johnston Lithium and Gold Project in Western Australia, commencing a reverse circulation (RC) drilling program aimed at both lithium and gold targets. This initiative is part of a broader collaboration with Rio Tinto Exploration (RTX), which is funding a substantial 3,000-metre drilling campaign across the Mt Gordon prospects. To date, 16 holes totaling over 2,000 metres have been completed, focusing on areas that have never before been tested for lithium.

In parallel, Charger is independently funding an additional six-hole RC program specifically targeting the Richard Gold Prospect, a site with promising historical gold intercepts that have not been adequately followed up since 2012. This dual approach underscores the company's commitment to unlocking value from both battery metals and precious metals within the project area.

Historic Gold Intercepts Spark New Interest

The Richard Gold Prospect has yielded significant gold mineralisation in past drilling campaigns, including standout intercepts such as 5 metres at 7.15 grams per tonne (g/t) gold from 24 metres depth, with a high-grade 2-metre section grading 16.36 g/t. Other notable results include 12 metres at 0.60 g/t gold from 52 metres. These findings, coupled with anomalous gold zones detected in shallow RAB drilling, suggest the presence of a broader, potentially structurally-hosted gold system beneath transported cover.

Charger’s Managing Director Bryan Dixon highlighted the geological promise, noting that many RAB holes ended in fresh rock with anomalous gold values, indicating that deeper drilling could reveal substantial in-situ mineralisation. The proximity of regional structures to these gold intersections further supports the potential for a significant gold system typical of the Yilgarn Craton.

Strategic Partnership and Resource Development

The ongoing drilling at Mt Gordon is funded under a farm-in agreement with Rio Tinto Exploration, which can earn a 51% interest by sole funding $10 million in exploration expenditure. This partnership brings considerable financial and technical resources to Charger’s exploration efforts, enhancing the potential for discovery and development.

Complementing the gold exploration, Charger recently reported a maiden inferred lithium resource at the Medcalf deposit within the Lake Johnston project, estimating 8.2 million tonnes at 1.0% lithium oxide (Li2O). This milestone adds a significant dimension to the project’s value proposition, positioning it within a highly prospective lithium corridor near established operations such as the Earl Grey (Mt Holland) Lithium Project.

Broader Lithium Portfolio and Market Context

Beyond Lake Johnston, Charger holds the Bynoe Lithium Project in the Northern Territory, adjacent to Core Lithium’s Finniss project, which boasts a substantial JORC resource. This geographic and strategic positioning in Tier 1 jurisdictions with established infrastructure enhances Charger’s appeal as a diversified battery metals explorer.

While the current drilling results are preliminary, the combination of historic gold intercepts, new lithium resource estimates, and strong backing from a major mining player like Rio Tinto sets the stage for potential growth. The company’s exploration strategy reflects a balanced focus on both gold and lithium, commodities critical to evolving energy and technology markets.