ASX-listed Chariot Corporation, the largest holder of lithium exploration assets in America, has begun first-pass diamond drilling at its primary Black Mountain project in Wyoming. This follows necessary permit acquisitions and eco-friendly site preparations. The company's US subsidiary, Panther Lithium, is carrying out a 23-hole drill program to target a spodumene-bearing lithium-caesium-tantalum (LCT) pegmatite dyke swarm.
The initial assay results from the Black Mountain diamond drill program are anticipated early next year. Earlier sampling at Black Mountain showed high concentrations of lithium oxide. The company operates a Boart Longyear LF90 surface diamond core drill rig round-the-clock, in collaboration with Major Drilling. The drill core will be subjected to comprehensive lithological and geochemical analysis at the Jeffrey City processing facility in Wyoming.
In addition to seven hard-rock lithium projects spanning 4462 hectares in Wyoming, Chariot is also exploring claystone-hosted lithium at its Resurgent project within the McDermitt Caldera, Nevada, extending into Oregon.
Last month, Chariot Corporation listed on the ASX and began lithium exploration in tax-free Wyoming, USA at the Black Mountain project. A Boart Longyear LF90 diamond drill rig arrived on-site for phase one drilling of the Black Mountain pegmatite dyke swarm. Over 20 high-grade rock chip samples were collected, with ten demonstrating a lithium grade of 1.51%, and one reaching as high as 6.68%. Through Panther Lithium Corporation (PLC), Chariot targets spodumene-bearing pegmatite outcrops along a 1-kilometer by 50-meter zone and plans to drill 2000-3000 meters.
As of today's market close, shares of Chariot Corporation (ASX:CC9) were trading at 33.5 cents.
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