ASX Runners of the Week: Charger Metals, Calix & Investigator Silver
The Bulls N’ Bears ASX Runner of the Week is Charger Metals which unleashed a ripping high-grade maiden gold discovery at its Xmas anomaly in WA.
BHP, Newmont, and other major shareholders have agreed to sell their stakes if the bid is formalised.
On a short trading week with many of the market pundits still nursing silly-season hangovers there are only a few ASX darlings to grace our Runners cavalcade.
True to form, we began the new year exactly as we ended with a plucky junior gold explorer storming to the top of the leaderboard. Not far behind, an unlikely lithium developer poked its head above the parapet with a closing surge, while a heavyweight silver player also caught the wind, riding the white metal’s relentless momentum.
A drill rig on site at Charger Metal’s Lake Johnston lithium-gold project in Western Australia.
CHARGER METALS NL (ASX: CHR)
Up 105 % (7.8c – 16c)
The Bulls N’ Bears Runner of the Week is junior goldie Charger Metals, which made a late year charge to take out our top spot with a stonking discovery hit on Tuesday at hits aptly named Xmas Gold Discovery at its Mt Gordon tenure in Western Australia.
Mt Gordon falls within the company’s broader Lake Johnston lithium and gold project in WA’s Yilgarn province and the discovery was the catalyst for a 105 per cent surge on the week.
Four-metre composite samples from a recent reverse circulation (RC) hole delivered a standout 12 metre hit at a ripping 6.55 grams per tonne (g/t) gold from 132m downhole, including a richer 4m slice at 16.9 g/t from 132m and a bonus 8m at 1.57 g/t from 148m. Crucially, this was the first ever drill test of a previously untouched area on the Mt Gordon tenement, piercing mafic-hosted mineralisation beneath a sprawling 1.8km by 1.7km soil anomaly laced with five untested gravity and magnetic targets.
The company’s underexplored anomaly has seen zero historical RC or diamond drilling within 1600m of the discovery hole, instantly upgrading the prospectivity of four additional gravity-magnetic bulls-eyes screaming further discovery.
Multi-element analysis points to a classic mafic-hosted gold deposit, opening what could be a fresh growth avenue for Charger alongside its existing lithium ambitions at Lake Johnston.
Further assays are pending from the recent 1,980m RC program, but the market didn’t wait - shares rocketed 105 per cent on explosive volume, peaking at 16c from last year’s 7.8c close.
With an expanded RC and diamond campaign firing up in January - fully funded and managed under Rio Tinto Exploration’s farm-in agreement - this significant shallow discovery could ignite a bumper start to the year for the junior.
