Charger to take ownership of Lake Johnston Lithium Project

On February 7th, 2023, Charger Metals NL (ASX: CHR) announced that it had signed a binding agreement to buy Lithium Australia Limited's 30% minority interest in the Lake Johnston Joint Venture. This will bring Charger's interest in the joint venture to 100%. Lithium potential is found within a 50 km long corridor on the southern and western edges of the Lake Johnston granite batholith.

Under the agreement, Charger Metals requires to issue 7,000,000 fully paid ordinary shares to LIT and grant the offtake first right of refusal. The company has now concluded 27 of the scheduled 40 reverse circulation drill holes at the Medcalf spodumene discovery, which started in late 2022, and the drilling is continuing.

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