Chariot Corporation says it has significantly expanded its flagship Black Mountain tenure in Wyoming, adding 218 contiguous new claims to mark a whopping 206 per cent increase for its now 2686-hectare lithium project area.
The company’s new “BMX” claims almost enclose its original holdings, adding a strategic margin of between 1200m and 1600m around all but a 1500m-long section of State land on its north-west boundary. In addition to being a buffer, the new unpatented lode mining claims also cover the possibility of extensions of the pegmatite dike swarms hidden beneath surface cover.
Early last month, Chariot revealed it had nailed notable lithium hits in multiple intercepts of high-grade spodumene from its first three holes, including a best run of 15.48m at 1.12 per cent lithium oxide and 79 parts per million tantalum pentoxide from just 2.74m, with 4.27m going 2.46 per cent lithium oxide and 128ppm tantalum pentoxide from 9.94m.
Two other holes out of eight drilled at time of reporting came with high individual grades of up to 3.79 per cent lithium oxide and 230ppm tantalum pentoxide, confirming beyond doubt the lithium-caesium-tantalum (LCT) fertility of the pegmatites in the area.
Despite the fact that the presence of outcropping spodumene-bearing pegmatites and large spodumene crystals up to 60cm long at the site had been known about for more than two decades, the area had never been drilled. Such is the influence of commodity demand … or lack thereof.
Chariot says it has increased its ownership in Wyoming Lithium from 91.9 to 93.9 per cent through a share subscription to reward it for its exploration expenses on that company’s projects. It now owns seven hard rock lithium projects comprising 795 claims for a total area of 6270ha in Wyoming, all within an 85km radius, with Black Mountain now being the biggest area by 936ha.
Wyoming is a tier-one mining jurisdiction where production contributes to more than 20 per cent of the State’s GDP. It is also the biggest oil and gas producer in the United States, which means it is well-endowed with oil-field and many other related services capable of supporting the company’s exploration plans.
The State’s capital Cheyenne is a key city on the main east-west transcontinental road and rail route and is also the key local and interstate hub on the north-south Montana- Colorado route, with good gas, road, rail, power and water services.
Being just 300km north-west of Cheyenne, midway between Casper and Riverton, Chariot’s seven projects are well situated to be able to supply burgeoning local and overseas demand for lithium and its often associated rare metals in the US – which until recently has seen a surprising dearth of exploration on its home turf.
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