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Chariot Corporation (ASX:CC9) has unveiled its vision for its Wyoming-based Black Mountain Project – aiming to fast-track its path to production by establishing a “pilot mine.”
While daily market-watchers may be more familiar with pilot plants, the pilot mine plan incorporates that asset.
A pilot mine is something that only a Wyoming lawmaker could love – indeed, that US state offers a unique permitting system which allows Chariot to undertake such an endeavour.
Wyoming is, after all, the Cowboy State.
The company perceives it has enough near-surface mineralisation to substantiate an open-pit mine, with enough lithium hydroxide downstream facilities nearby to facilitate an economic export model.
Chariot’s ultimate goal is to fast-track spodumene concentrate production for sale into world markets – notably, those relying on sources of lithium ex-China.
What it needs first is a “high-priority, small-scale lithium resource” to underscore that early-stage project.To that end, phase 2 drilling will kick off, set for completion by early 2025.
On the back of that, the company is also to export 200kg of core to a laboratory in Western Australia to undertake metallurgical work.
Chariot noted on Thursday that despite a fall in lithium prices worldwide, US demand is only set to grow into the 2030’s.
Lithium Carbonate futures, by chance, jumped 2% overnight on Thursday Australian time.
CC9 last traded at 14.5cps.
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