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Australian Mining

Discovery, Lithium, News, Rio Tinto

Lake Johnston Charges ahead

OLIVIA THOMSON

April 11, 2024, 1:13 pm

lithiumImage: Henri Koskinen/stock.adobe.com

Battery metals explorer Charger Metals has revealed the results from an infill soil-sampling program recently completed across the Mount Gordon prospect at its Lake Johnston lithium project in the Yilgarn region of Western Australia.

The program comprised large soil anomalies equalling more than 100 parts per million (ppm) of lithium oxide (Li2O) that extended over 3km. A total of 864 samples were taken and results from the program are expected in 3–4 weeks.

Detailed structural mapping has also been conducted at the Medcalf spodumene prospect and the Mount Day lithium prospect.

At Medcalf, detailed structural mapping and interpretation was conducted over the principal area of the outcropping spodumene pegmatites and the immediate surrounds, and detailed structural mapping was carried out alongside reconnaissance mapping and surface sampling at Mount Day’s northern areas.

“The exploration team, in collaboration with our project partner RTX (Rio Tinto Exploration), has been very busy at our Lake Johnston lithium project with systematic work programs across much of the project area,” Charger Metals managing director Aidan Platel said.

“Exploration has been completed both in new areas in order to potentially define new prospective areas, as well as across known target areas like Mount Gordon and Medcalf to better define the targets for upcoming drill programs.

“The drilling approvals process has been frustratingly slow, but we now expect to receive the final PoW (programme of work) approvals later this quarter and we look forward to drill-testing our priority lithium targets as soon as possible.”

Priority target areas to be drilled include Mount Gordon, the strike extensions to the known high-grade spodumene mineralisation at Medcalf, and the spodumene pegmatite trend to the southwest of Medcalf

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I think Aberdeen minerals looks like a potentially great investment. This is from 25th March;

Aberdeen Minerals announces an equity financing of up to £5.5 million to invest in its mineral exploration programmes for deposits of nickel, copper and cobalt in North East Scotland. Responsibly sourced and secure supplies of these metallic raw materials used in batteries and electrification are critical to a just energy transition in Scotland and the UK.

The financing comprises:

A conditional cornerstone investment by Central Asia Metals plc (CAML) of £3 million at 8.5 pence per share to acquire a 28.7%[*] shareholding in Aberdeen Minerals

Warrants to be granted to CAML to invest an additional £2 million at 11 pence per share, which, if exercised, would take CAML ownership to 37.8%

An Entitlement Offer to existing shareholders to raise up to an additional £0.5 million at 8.5 pence per share[†].

CAML current mcap is £390mil - they’re not Mickey Mouse

1911 Gold currently CAD$0.095 and bought £200k at CAD$0.06, so this is currently looking like a good investment.