Visible Gold Found: Charger Metals (ASX: CHR) Hits 41.5 g/t "Monster Grade" at Xmas Discovery

Key Highlights:

• Charger Metals hits high-grade gold including 1m at 41.5 g/t at Xmas Discovery
• Visible gold confirms strong mineralisation at Lake Johnston project
• Discovery sits along a largely unexplored 2km gold trend in WA
• Company transitions from lithium explorer to dual lithium and gold play
• Shares volatile despite breakthrough, reflecting early exploration stage
  
   

There are moments in mining when numbers alone tell the story. For Charger Metals NL, that moment came with a single drill interval measuring just one metre.

Inside hole CLGRC022 at its Lake Johnston project in Western Australia, the company uncovered gold grading 41.5 grams per tonne, a level considered exceptionally high by industry standards. The broader intercept returned 3 metres at 18.0 grams per tonne from 135 metres depth, confirming the presence of significant mineralisation at what has been named the Xmas Discovery.

To put that in perspective, many operating gold mines around the world run profitably at grades between 1 and 5 grams per tonne, according to mining industry benchmarks. Grades above 10 grams per tonne are widely regarded as high grade.

The presence of visible gold in drill samples further strengthens the significance of the discovery.

A Rare and Telling Signal Beneath the Surface

Visible gold is more than just visually striking. It often signals the presence of free gold, which is easier and cheaper to extract than gold trapped within complex mineral structures.

For exploration companies, it represents one of the clearest early indicators of economic potential.

Charger Metals reported that visible coarse gold was identified in drill chips from the Xmas Discovery, reinforcing the laboratory assay results.

Source: Charger Metals ASX announcement

The company also reported additional mineralisation at its nearby Richard Prospect, where drilling returned 7 metres at 1.24 grams per tonne gold, suggesting a broader mineralised system.

These findings come from an area that had seen no drilling for more than 13 years before Charger began exploration.

A New Chapter for a Lithium-Focused Explorer

Charger Metals was originally known for its lithium exploration efforts at Lake Johnston, located in Western Australia’s Yilgarn Craton, one of the world’s most productive mineral regions.

The emergence of high grade gold introduces a new dimension to the company’s strategy.

Rather than relying solely on lithium, which has experienced volatile price cycles in recent years, Charger now holds exposure to gold, a commodity often seen as a safe haven during economic uncertainty.

The Lake Johnston region sits within the same geological province as major gold mines such as Sunrise Dam and Wallaby, which together have produced millions of ounces of gold over decades.

Yet parts of the belt remain underexplored, leaving open the possibility of new discoveries.

Narrow Veins, High Potential

One important detail in the latest results is the concentration of gold within narrow, high grade zones.

Earlier composite drilling results averaged grades over broader intervals. The latest one metre sample splits revealed a much higher peak grade of 41.5 grams per tonne.

This pattern suggests the gold may exist within concentrated veins, a geological feature often associated with underground mining potential.

Such systems can support profitable mining operations if continuity and scale are confirmed through further drilling.

Charger Metals has completed approximately 1,300 metres of its planned 3,000 metre drill program, with additional drilling underway.

Market Reaction Reflects Exploration Risk

Despite the strong exploration results, Charger Metals shares were trading at 9.5 cents on Thursday afternoon, down 5 percent on the day. The company currently has a market capitalisation of about A$8.54 million, according to ASX data.

This volatility is not unusual for early stage exploration companies, where discoveries must be confirmed through extensive follow-up drilling before economic value can be established.

Exploration success often unfolds over years rather than weeks.

What Happens Next

The next phase of drilling will focus on defining the size, continuity and geometry of the gold mineralisation.

If further drilling confirms the discovery extends along the broader two kilometre trend, it could significantly reshape Charger Metals’ future.

For now, the Xmas Discovery marks a turning point.

What began as a lithium exploration project has revealed the early signs of a potential gold system. Whether it becomes a major discovery will depend on what the drill bit uncovers next.