Chariot has increased Black Mountain’s project tenure by 206% covering some 26.86km2
The company has also increased ownership interests in its lithium portfolio to 93.9%
Assays for five drill holes are pending and will be received in April
Special Report: Chariot’s Black Mountain project now comprises a total of 352 claims covering 26.86km2, covering possible extensions to pegmatite dyke swarms under shallow cover.
Lithium hunter Chariot Corporation (ASX:CC9), one of the biggest resources IPOs of 2023, has continued to make great progress at its flagship Black Mountain project in Wyoming with recent drilling returning individual grades of up to 3.79% Li2O.
Assays on the other five drill holes are expected to be announced in April but CC9 geological consultant Edward Max Baker believes the initial results are “stunning”, especially given that the maiden drill campaign, using a diamond core drill rig, was undertaken during Wyoming’s harsh early winter.
Despite 60cm long spodumene crystals (~6-7% lithium) being observed at the site back in 1997 and subsequent early-stage exploration returning 6.68% Li2O from rock chips, Black Mountain had never been drilled… until now.
Chariot expands Black Mountain footprint
In another exciting move, the explorer has inked an additional 218 claims, resulting in a 206% increase in project tenure at Black Mountain.
The project now covers a total of 352 claims in Wyoming, a Tier-1 mining jurisdiction with a long history of gold, uranium, coal and industrial mineral mining and production which accounted for around 20% of the state’s GDP in 2023.
Chariot’s Black Mountain project and its expanded footprint. Pic: Supplied (CC9)
It is also the 8th largest oil and gas producer in the US with a well-established oil field services industry.
CC9 says it has already engaged several oil field services providers to assist in delivering various services for Phase 1 drilling and anticipates further leveraging the available local oil field services providers for future exploration and mine development activities at Black Mountain.
Wyoming lithium portfolio
CC9 owns seven hard rock lithium projects in the state, in an area without any known land-use encumbrances.
On 9 January, the company increased its ownership of Wyoming Lithium Pty Ltd (WLPL) from 91.9% to 93.9% via a share subscription to reimburse CC9 for exploration expenses incurred across the Wyoming lithium projects.
Chariot’s Wyoming lithium portfolio. Pic: Supplied (CC9)
This article was developed in collaboration with Chariot Corporation, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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