Charger Metals NL has reported further high-grade gold assay results from its Xmas Gold Discovery at the Lake Johnston Project, reinforcing the prospect's significant potential. Ongoing drilling and exploration activities continue to unlock new insights into this under-explored Western Australian gold belt.
- 3m at 18.0 g/t gold including 1m at 41.5 g/t gold confirmed
- 1,300m of a planned 3,000m diamond and RC drilling program completed
- Xmas Gold Discovery trend over 2km remains largely untested
- Additional soil sampling and geophysical surveys planned
- Project benefits from recent heritage agreements and environmental clearances
Further High-Grade Gold Assays Reinforce Xmas Discovery Potential
Charger Metals NL (ASX: CHR) has released new assay results from its Xmas Gold Discovery within the Lake Johnston Lithium and Gold Project in Western Australia's Yilgarn Province. The latest drilling confirms the very high-grade nature of the gold mineralisation, with standout intercepts including 3 metres at 18.0 grams per tonne (g/t) gold, highlighted by a 1-metre section grading 41.5 g/t gold and 26.5 g/t silver. These results underscore the prospect’s potential as a significant new gold target in a region that has seen limited recent exploration.
Under-Explored Greenstone Belt with Untapped Potential
The Xmas Gold Discovery lies within a greenstone belt that has historically been under-explored for gold, with no recorded drilling along a 2-kilometre trend prior to Charger’s recent work. The company has completed 1,300 metres of a planned 3,000-metre combined diamond and reverse circulation (RC) drilling program, targeting both the Xmas Gold Discovery and nearby lithium prospects such as the Medcalf Spodumene Deposit. The ongoing program aims to better define the extent and orientation of mineralisation, with diamond core samples currently awaiting assay results.
Strategic Exploration and Next Steps
Charger’s Managing Director Bryan Dixon emphasised the significance of the discovery within a greenstone belt that lacks a major gold mine, describing it as one of the more under-explored belts in the Yilgarn. The company plans further drilling to test extensions of the high-grade zones, alongside infill soil sampling and enhanced geophysical surveys to refine targets. Environmental and heritage clearances have been secured, including a new Heritage Protection Agreement with the Ngadju people, facilitating ongoing exploration activities.
Broader Project Context and Market Position
The Lake Johnston Project is strategically located near major lithium operations such as the Earl Grey (Mt Holland) Lithium Project, positioning Charger to benefit from both gold and lithium market dynamics. The company also holds the Bynoe Lithium Project in the Northern Territory, with promising lithium and tantalum prospects. Notably, Core Lithium Limited has shown strategic interest in Charger, having made a non-binding indicative offer and acquired a significant shareholding, highlighting the sector’s consolidation trends.
Technical Rigor and Quality Assurance
The announcement details rigorous sampling and assay protocols, including the use of 1-metre split samples and 4-metre composites analysed by Intertek Laboratories. Quality control measures such as certified reference materials, field duplicates, and independent verification underpin the reliability of the results. While true widths of mineralisation are yet to be determined, the data provides a robust foundation for advancing resource estimation and metallurgical testing in the coming months.
Bottom Line?
As Charger Metals advances its drilling and assay programs, the Xmas Gold Discovery could reshape the gold potential of an under-explored Yilgarn belt.
Questions in the middle?
- What will the upcoming diamond core assay results reveal about the mineralisation’s continuity and grade?
- How might the evolving resource estimates impact Charger’s valuation and strategic partnerships?
- What are the implications of Core Lithium’s stake and offer for Charger’s future exploration and development plans?