ASX-listed Charger Metals has wrapped up a nine-hole, 1 500 m reverse circulation (RC) drilling programme at its Lake Johnston lithium project in Western Australia, while securing an additional A$500 000 from Rio Tinto Exploration (RTX) under its earn-in agreement and A$158 000 in research and development (R&D) refunds this quarter.

The latest round of drilling targeted three previously untested lithium prospects — the Sabbath target at Mt Day, the Pagrus prospect, and parts of the Mt Gordon prospect. The programme was sole-funded by RTX as part of a broader A$1.1-million 2025 exploration budget for the Lake Johnston project.

“Charger Metals is pleased to have received a further $500 000 from RTX and $158 000 in ATO R&D refunds during the quarter,” said MD Aidan Platel. “The current phase of drilling at our Lake Johnston lithium project is expected to be completed today. All three areas tested by this 1 500 m programme have been defined by lithium-in-soils anomalies, with both Pagrus and Sabbath also having outcropping pegmatites mapped at surface, and none of these areas have been previously drill-tested.”

Charger has applied for further permits to allow up to 3 500 m of drilling at Mt Day and Mt Gordon later this year, including follow-up testing at the Whitten pegmatite and priority targets in the south-east of the Mt Gordon tenement.

“RTX sole funding the countercyclical exploration of the Lake Johnston lithium targets is of great benefit to Charger shareholders, and we look forward to seeing the assay results from the drilling,” said Platel. “With further drill programmes of untested priority targets planned for later this year, we look forward to the potential of the next significant lithium discovery in the Yilgarn Craton in WA.”

Platel also noted the company’s ongoing work beyond lithium. “Parallel to our lithium work streams, we continue to evaluate new project opportunities in the gold and battery metals sector that have potential to create value for Charger and its shareholders.”

As of June 16, Charger Metals had a cash balance of A$2.82-million and no debt. Its current market capitalisation is A$3.17-million.