Drilling is set to commence at Charger Metals’ newly acquired Lake Johnston lithium project in Western Australia thanks to a funding boost from Rio Tinto Exploration (RTX).
The approvals were received from the WA Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) this week, green-lighting 5000m of reverse circulation drilling across the greater Medcalf prospect and the Mount Gordon prospect, which is scheduled to commence this month.
“We are extremely pleased to have received the final permits for our planned drill programmes at Lake Johnston,” Charger Metals managing director Aidan Platel said.
“The team are now busy with final preparations so that we can commence drilling.
“The drill targets in and around the Medcalf prospect and the Mount Gordon prospect have excellent lithium potential, and we look forward to kicking off the drilling and seeing what results it will bring.”
Charger entered into a farm-in agreement with RTX in November 2023, which saw RTX pay $500,000 and invest a further $1.2 million in Charger ahead of the farm-in.
The major will also spend a minimum $3 million over the first 12 months.
“The Rio Tinto Exploration farm-in agreement will see them potentially spending up to $42.5 million to earn up to a 75 per cent interest in the Lake Johnston project,” Charger chair Adrian Griffin said at the time.
Charger recently took full control of Lake Johnston after purchasing Lithium Australia’s remaining 30 per cent interest in the operation for $2 million.
Since then, the company has been busy undertaking sampling programs to determine the scope of the project.
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