Charger Metals CHR.ASX

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Christopher Hall
Christopher Hall
Stockbroking, investment manager and adviser since 2005. No advice provided on Bizfeed.

ASX’s best performing Lithium company by Momentum.

Updated 9 May 2023

Charger Metals NL is an exploration company targeting battery metals and precious metals in three emerging battery minerals provinces in Australia.

CHR’s Bynoe Project occurs within the Litchfield Pegmatite Field, approximately 35 km southwest of Darwin, Northern Territory, with nearby infrastructure and excellent all-weather access (NT’s wet season can limit access depending on location within NT). Charger’s Project is enclosed by Core Lithium Limited’s (ASX: CXO) Finniss Lithium Project.

The latest company update was to announce the contract signed with Geodrilling Pty Ltd for maiden reverse circulation (RC) programme at the Bynoe Lithium Project, NT contains:

  • 2,000m programme has been designed as a first-pass test of high priority targets including the Old Bucks and Megabucks prospects
  • A third high priority target called the Enterprise Prospect will also be tested with this first pass programme. Enterprise is located along strike from Core Lithium Limited’s (ASX:CXO) Blackbeard Prospect, which includes the following recently-announced significant drill intersections:
    o 41m @ 1.63% Li2O from 137m (SRC117)
    o 59m @ 1.54% Li2O from 158m (SRC118) and
    o 71m @ 1.05% Li2O from 101m (SRC119) 1
  • Drill programme scheduled to commence in the second week of May

Charger’s Managing Director, Aidan Platel, commented:
“We are excited to lock in a drilling contractor for our maiden drill programme at Bynoe. The first-pass programme will drill test priority targets including Old Bucks, Megabucks and Enterprise, where surface geochemical anomalies, historic workings and nearby drill-holes all suggest a high potential for these prospects to host significant lithium mineralisation.
We have all our required permits in place, and contracting a local drilling company in Geodrilling completed the final critical item. As the region’s “wet season” draws to a close we look forward to building momentum as we commence our maiden drill programme in the coming weeks.”

The ASX has dozens of Lithium companies, with the strongest gaining +46.20% over the last month.

Here are the Top 6 Lithium Companies on the ASX in May 2023:

CompanyCodeMonth Return (%)
Charger MetalsCHR42.20
Future BatteryFBM38.83
RiversgoldRGL36.29
European Lithium LtdEUR30.17
Tyranna Res LtdTYX27.44
Critical ResourcesCRR25.13
Top 6 Lithium Stocks on the ASX

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