CHARGER STRIKES HIGH-GRADE GOLD AT ‘XMAS’ DISCOVERY

Initial drill hits up to 16.9 g/t Au at Mt Gordon tenement, assays pending for further 1,980m

Charger Metals NL (ASX:CHR) has reported a promising high-grade gold discovery at the newly named “Xmas Gold Discovery” on its 100%-owned Mt Gordon tenement within the Lake Johnston Lithium and Gold Project in Western Australia.

The standout result came from Reverse Circulation (RC) drillhole CLGRC022, which returned:

12m @ 6.55 g/t Au from 132m,
- including 4m @ 16.9 g/t Au from 132m
8m @ 1.57 g/t Au from 148m

These intervals were based on 4m composite samples.

Charger noted that multi-element analysis and rock chip reviews confirm the mineralisation is hosted in mafic rocks. The Xmas anomaly itself spans approximately 1.8km by 1.7km and includes five gravity and magnetic targets. This latest drilling success is seen as a significant upgrade to the broader area’s prospectivity, with four additional untested gravity and magnetic targets considered prospective for mafic-hosted gold.

The area remains under-explored, with no recorded RC or diamond drilling within 1,600m of the new discovery.

Nearby historic drilling at the Richard Gold Prospect has previously intersected:

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)

Assays are still pending for an additional 1,980m of recent RC drilling.

Charger confirmed plans for further RC and diamond drilling at Lake Johnston in January 2026.

Charger’s Managing Director and CEO, Bryan Dixon, commented:

The Charger team is excited to have made a virgin gold discovery in our initial reconnaissance drilling at the newly named ‘Xmas Gold Discovery’, where we intercepted 12m @ 6.55 g/t Au from 132m, and 8m @ 1.57 g/t Au only 4m further down hole. These results are from a recent 3,012m RC campaign, with assays still pending for 1,980m.

The Xmas soil anomaly covers an area of approximately 1.8km by 1.7km, and with no historical RC or Diamond drilling in the area, remains under-explored. There are 5 targets defined by coincident gravity and magnetic anomalies within the anomaly, and the initial success at the Xmas Gold Discovery significantly upgrades the prospectivity of 4 additional untrilled gravity and magnetic targets that may also represent gold hosted mafic intrusive mineralisation.

Charger’s Lake Johnston Project has several other highly prospective gold targets at the Mt Gordon tenement. Significant gold drill intercepts, including that at the Richard Gold Prospect which intercepted 5m @ 7.15 g/t Au from 24m in the last drilling completed in 2012, have not been adequately followed up prior to the recent programme.

Charger is pleased to have retained a 100% interest in the Lake Johnston Gold and Lithium Project where our team also sees significant potential to grow the scale of the maiden Medcalf Spodumene Resource, which has four lithium concentration plants within trucking distance.

Charger is currently planning to commence its next Lake Johnston drilling campaign next month where it is fully permitted to drill over 40 holes.