AUS
NZ
UK
CA
USA
IND
Highlights:
Charger Metals (ASX:CHR) has acquired the final 30% interest in the Bynoe Lithium Project from Livium (ASX:LIT), securing full ownership.
The company has initiated environmental surveys and aims to commence drilling in the 2025 field season, with more than 20 lithium exploration targets identified.
The Bynoe Lithium Project is strategically located within the Finniss pegmatite field, near key infrastructure, including the Grants spodumene beneficiation plant.
Charger Metals (ASX:CHR) has successfully completed the acquisition of the remaining 30% interest in the Bynoe Lithium Project in the Northern Territory from Livium (ASX:LIT). On 7 November 2024, Charger exercised its pre-emptive right to acquire the interest for a cash payment, finalising its 100% ownership of the project. Livium has indicated that this transaction aligns with its focus on current operations and strengthens its balance sheet for future growth initiatives.
With full ownership of the Bynoe Lithium Project, Charger Metals now has complete exposure to the exploration potential of what is considered one of the largest underexplored areas within the Finniss pegmatite field. This area is known for its lithium prospectivity and is strategically located within a structural corridor that is within 20 km of the Grants spodumene beneficiation plant, providing significant infrastructure advantages for future development.
Charger Metals has already begun environmental surveys as part of an updated drilling and exploration permit for the Bynoe project. The company plans to start drill testing priority targets during the 2025 field season. To date, more than 20 prospective areas for lithium have been identified, based on lithium-in-soil anomalies, pegmatite outcrops, and historical tin-tantalum workings. Many of these areas exhibit surface lithium anomalies aligned with the regional geological trend, supporting the potential for substantial lithium mineralisation in the region.
Charger Metals, a junior explorer focused on battery and precious metals, holds assets in key emerging battery mineral provinces in Western Australia. Livium, formerly Lithium Australia, is focused on advancing sustainable lithium production to support the global energy transition. The acquisition of the remaining interest in the Bynoe Lithium Project positions Charger Metals to fully leverage the exploration upside in a highly prospective region.
