Charger Metals Uncovers Significant Gold Discovery at Mt Gordon Prospect
In a significant development for ASX-listed Charger Metals NL (ASX: CHR), a desktop review of the company's Lake Johnston Lithium Project has unveiled compelling gold potential at the Mt Gordon Prospect. The review revealed several areas of gold mineralisation that had previously been inadequately explored, opening up a new exploration opportunity for the company.
High-Grade Gold Intercepts Demand Attention
The historical drilling data has revealed impressive gold intercepts that were never properly followed up, including:
- 5m @ 7.15 g/t Au from 24m, including 2m @ 16.36 g/t Au (MGRB565)
- 12m @ 0.60 g/t Au from 52m, including 2m @ 2.23 g/t Au (MGRB559)
- 4m @ 1.42 g/t Au from 24m, including 2m @ 2.35 g/t Au (MGRC020)
These high-grade results suggest significant high-grade gold potential at Mt Gordon, which is primarily being explored for lithium. The presence of these gold values, especially near key geological structures, indicates the possible existence of a structurally-hosted gold system typical of Western Australia's Yilgarn Craton.
Evidence of "Blind" Gold System Under Transported Cover
Particularly encouraging is evidence suggesting a potentially larger gold system hidden beneath transported cover. Multiple shallow RAB drill holes ended in anomalous gold values (>0.1 g/t Au), indicating mineralisation could extend at depth:
| Hole ID | Type | Significant Intersection | Mineralised Zone Relative to EOH |
|---|---|---|---|
| MGRB559 | RAB | 12m @ 0.60 g/t Au from 52m | In-situ fresh rock, 2m from EOH |
| MGRB597 | RAB | 2m @ 0.26 g/t Au from 76m | In-situ saprock, at EOH |
| MGRB599 | RAB | 2m @ 0.52 g/t Au from 72m | In-situ fresh rock, at EOH |
| MGRB647 | AC | 4m @ 0.26 g/t Au from 60m | In-situ saprock, 4m from EOH |
As Managing Director Aidan Platel noted: "The presence of anomalous gold at or near the base of many of the RAB holes, which typically end when the blade hits the harder in-situ fresh rock, supports the potential for a broader gold system."
Understanding Economic Significance: Yilgarn Craton Gold Systems
The Yilgarn Craton in Western Australia is one of the world's premier gold provinces, hosting numerous world-class gold deposits. Structurally-controlled gold systems in this region typically feature gold mineralisation along major fault structures or at the contacts between different rock types.
What makes this Charger Metals NL gold discovery particularly interesting is that the best gold intercepts at Mt Gordon are located near significant cross-cutting structures and at contacts between weathered clay materials and underlying bedrock. This geological setting is a classic hallmark of successful gold deposits in the region.
Furthermore, gold mineralisation that's hidden beneath transported cover can represent substantial opportunities, as these areas may have been overlooked by previous explorers focusing only on surface expressions of mineralisation.
Strategic Position Within Lake Johnston Project
The Mt Gordon Prospect forms part of Charger's broader Lake Johnston Lithium Project, which is strategically positioned approximately 70km east of the large Earl Grey (Mt Holland) Lithium Project. In January 2024, Charger executed a farm-in agreement with Rio Tinto Exploration (RTX), under which RTX can earn up to 75% by investing $43.7 million in exploration expenditure.
While the primary focus at Lake Johnston has been lithium exploration, this gold discovery adds a potentially valuable new dimension to the project. The company is now planning field work to further test these gold targets.
Why Investors Should Pay Attention
This development represents a significant opportunity for Charger Metals NL for several reasons:
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Dual-commodity project: The discovery adds gold exploration upside to what was primarily viewed as a lithium project.
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High-grade intersections: Initial results show promising grades, with intercepts up to 16.36 g/t Au.
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Untested potential: The best gold intersections were never adequately followed up, suggesting significant exploration upside.
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Strategic backing: With Rio Tinto's farm-in agreement already in place for the broader project, Charger has strong financial backing for exploration activities.
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Favourable geology: The gold mineralisation appears to follow structural controls typical of successful Yilgarn gold deposits.
For investors interested in junior explorers with multiple commodity exposure, Charger Metals NL now presents an interesting proposition with both lithium and gold potential at its Lake Johnston Project. The company's planned field work to follow up on these gold targets will provide important catalysts to watch in the coming months.
Analysis of the Gold System at Mt Gordon
The Charger Metals NL gold discovery at Mt Gordon shows characteristics consistent with other significant gold deposits in the Yilgarn Craton. The association of gold mineralisation with cross-cutting structures striking at approximately 070° is particularly notable, as these structural controls often play a crucial role in the concentration of gold mineralisation.
The historic drilling revealed gold mineralisation in several forms:
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Near-surface enrichment: The highest grades (including 5m @ 7.15 g/t Au) were found at the weathering interface between transported cover and in-situ material.
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Structurally controlled mineralisation: Many of the significant intercepts occur near interpreted fault structures.
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Depth potential: The fact that multiple drill holes ended in anomalous gold values indicates that mineralisation likely continues deeper than previously tested.
This pattern of gold distribution suggests a potentially substantial mineralised system that requires further exploration using modern exploration techniques and a systematic approach. The historical drilling was relatively shallow, with RAB holes averaging only about 40 metres in depth, leaving considerable untested potential at depth.
Technical Understanding of the Gold Mineralisation
The gold mineralisation at Mt Gordon appears to be associated with:
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Structural controls: Gold values are concentrated along interpreted fault structures.
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Weathering interfaces: High-grade intercepts at the boundary between weathered material and fresh rock.
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Fresh rock mineralisation: Several holes encountered anomalous gold in fresh rock, suggesting primary mineralisation rather than just supergene enrichment.
This combination of factors is consistent with structurally-controlled gold systems found elsewhere in the Yilgarn Craton, where gold is often concentrated along structural pathways and at lithological boundaries. The presence of gold in fresh rock is particularly encouraging as it suggests a primary mineralised system rather than simply near-surface enrichment.
Future Exploration Strategy
Charger Metals has indicated plans for follow-up field work to further test the gold targets at Mt Gordon. Based on the historical data, effective exploration strategies might include:
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Deeper drilling: Testing below the depth of previous RAB drilling to determine the extent of mineralisation at depth.
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Systematic testing of structural trends: Following the 070° striking structural trend identified in the historical data.
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Modern geophysical surveys: Employing advanced geophysical techniques to better define structural controls and potential mineralisation.
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Integration with lithium exploration: Ensuring that future lithium exploration programs also capture data relevant to gold targeting.
The Charger Metals NL gold discovery at Mt Gordon represents an opportunity for the company to add significant value to its Lake Johnston Project while maintaining its primary focus on lithium exploration. With the support of Rio Tinto through the farm-in agreement, Charger is well-positioned to advance exploration on both commodities simultaneously.
In conclusion, the gold potential at Mt Gordon adds a compelling new dimension to Charger Metals' exploration portfolio. For investors, this dual-commodity approach offers enhanced opportunity through exposure to both lithium and gold, potentially reducing risk through diversification while maintaining focus on a single, well-located project area.
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