Charger Metals (ASX:CHR) has completed the purchase of the final 30% interest in the Bynoe Lithium Project in the Northern Territory from Livium (ASX:LIT).
On 7 November 2024, Charger Metals exercised its pre-emptive right to acquire the remaining interest. The company paid $500,000 cash to Livium to finalise the deal.
Livium says the transaction is aligned with its strategic focus on existing operations and provides balance sheet flexibility for its key growth initiatives.
Charger Metals Managing Director Aidan Platel says the junior explorer now has full exposure to the exploration upside.
“Owning 100% of our Bynoe Lithium Project fully leverages Charger and its shareholders to future exploration success from what we believe is the largest underexplored area of the Finniss pegmatite field that is both inside the lithium-prospective structural corridor and within 20km of the spodumene beneficiation plant at Grants,” Platel says.
Charger Metals has kicked off environmental surveys, as part of an updated drilling and exploration permit for Bynoe. The company aims to begin drill testing of priority targets in the 2025 field season.
To date, the company has identified more than 20 prospective areas for lithium at the Bynoe Project. Charger Metals defined the initial targets by lithium-in-soil anomalies, pegmatite outcrops and historic tin-tantalum workings.
Many of the new prospective areas are defined by surface lithium anomalies striking north-northeast to south-southwest — a trend supported by the gravity data and in-line with the overall regional geology trend.
The company adds other surface anomalies are sub-parallel and strike north to south, which is similar to known lithium in pegmatite mineralisation observed in the region.
Charger Metals is a battery and precious metals explorer with assets in three emerging battery mineral provinces in Western Australia.
Livium, formerly known as Lithium Australia, is focused on enabling the global transition to sustainable lithium production.
Write to Aaliyah Rogan at Mining.com.au
Images: Charger Metals
