Chariot Corporation (ASX:CC9) has announced its latest drilling results at Black Mountain, posting intervals over 14m long grading at 0.8% to 1.12% lithium.
The drill program covered nine holes for a total of 1,132m targeting outcrop pegmatite targets on-site its North American acreage.
Chariot geotechs reported hitting a “potentially large pegmatite stock” at between 100-200m in the eastern portion of the boundary envelope; the first three of nine holes were successful in hitting mineralisation.
Within the cohort of the remaining six holes, the company reported hittng thick intervals “40-85m” containing thin “<1m pegmatite dikes.”
Geomagnetic data, per the company’s analysis, could correlate the existnece of an underground mineral system at the 100-200m depth mark with geological interpretation possibly supporting proof of a folded pegmatite formation.
The company is now gearing up to launch a Phase II drill program on-site the 2,500 acre permit boundary envelope.
The company most recently reported hitting a lithium find in Wyoming – as well as demonstrating an observance of ongoing US government critical mineral supply chain initiatives.
CC9 shares last traded at 22cps.