Chariot Corporation (ASX:CC9) has made what it says is the first hard rock lithium discovery in Wyoming after intersected ‘significant’ zones of ‘strong’ lithium-tantalum mineralisation at its Black Mountain Project.
The $56.96 million market capitalisation company says results, generated from the first 3 drillholes of a maiden drilling program, confirm the potential of the Black Mountain lithium-caesium-tantalum (LCT) pegmatite swarms.
According to Chariot, assays demonstrate lithium and tantalum values up to 3.79% Li2O and 230 parts per million Ta2O5, respectively.
Results indicate Chariot may have intersected the peripheral portion of a potentially ‘larger’ base metal mineral system, with selected grades up to 0.6% copper, 1% zinc, and 15.4% lead.
Chariot plans to extend soil sampling over the recently uncovered base metals anomaly and run preliminary induced polarisation (IP) lines in Q3 2024.
Chariot Corporation Geological Consultant Edward Max Baker says: “The base metals sulphide mineralisation is also very promising and indicates the potential for base metals and/or gold mineralisation, separate from the lithium mineralisation.”
Drilling is ongoing at Black Mountain with 8 drillholes having been completed to date, assays for the other 5 drillholes are expected to be announced in April 2024 once drilling is complete in March.
Meanwhile, Chariot plans to apply for an exclusive prospecting order to increase the areas of disturbance from 5 acres under the notice of intent to up to 2,500 acres for the aforementioned resource drill-out.
Major Drilling Group International has been contracted to undertake and complete the maiden drilling program.
Chariot Corporation is a mineral explorer focused on discovering and developing ‘high-grade’ and near surface lithium opportunities in the US.
The company’s flagship Black Mountain project, which is considered prospective for hard rock lithium, sits in Wyoming state.
Write to Adam Drought at Mining.com.au
Images: Chariot Corp
