US-focused lithium explorer Chariot Corporation (ASX:CC9) has more than tripled its Black Mountain Project land position in Wyoming by staking 218 unpatented lode mining claims in the area.
The $40.58 million market capitalisation company staked and filed the claims, dubbed the BMX claims, with Wyoming’s Bureau of Land Management, adding 1,807 hectares of land to its tenure position.
Chariot says the BMX claims are contiguous to its existing Black Mountain claims and represent a 206% increase to the project’s footprint.
The company staked the claims as a buffer and to cover potential extensions to the pegmatite dike swarms under shallow cover at Black Mountain.
At 2,686 hectares, Black Mountain is now the largest of Chariot’s 7 hard rock lithium projects in Wyoming, and the company says each project lies in an area without any known land-use encumbrances.
The second-largest project is the South Pass project in Fremont County at 1,750 hectares, with the Copper Mountain, Barlow Gap, Tin Cup, Pathfinder, and JC projects making up the rest of the total 6,270 hectares of tenure.
According to Chariot, Wyoming is a tier-one mining jurisdiction with a long history of gold, uranium, coal, and industrial minerals mining and production.
The company has engaged several oilfield services providers to provide services for a phase one drilling program in the state, and the company says it plans to further leverage the available providers for future exploration and mine development works.
The bolstered Black Mountain landholding comes weeks after Chariot increased its ownership of privately held Wyoming Lithium via a share subscription.
At the end of December 2023, Chariot had $7.6 million cash and cash equivalents at hand, according to its latest quarterly report.
Images: Chariot Corporation
