- Chariot Corporation (ASX:CC9) is drilling at Black Mountain in Wyoming on the hunt for lithium
- It operates via its subsidiary Panther Lithium Corporation
- The company listed on the ASX just last month
- Initial assay results for first-stage drill run are due early 2024
- Shares last traded at 33.5 cents
Chariot Corporation (ASX:CC9) has completed site preparation and earthworks at its Black Mountain project in Wyoming, USA, and a diamond drill rig is now on-site.
The company listed on the ASX last month and is hunting for lithium in North America.
It’s hopeful it can establish a “generational” hard rock lithium opportunity in the jurisdiction.
Notably, Wyoming has no corporate income tax.
Promising high-grade rock chips
Phase one drilling is testing the portion of the Black Mountain pegmatite dyke swarm, a target area some 1000 metres long x 100 metres wide.
More than 20 rock chip samples were taken from this zone with 14 of 22 chips samples grading at over 330ppm lithium – and 10 of which boasted 1.51 per cent lithium grade.
One chip graded at 6.68 per cent lithium.
Chariot rig arrives
The company saw the rig arrive overnight Australian time, assay results are due early into the new year.
Geotechs have confirmed the Boart Longyear LF90 rig rolled in where earthworks have been wound up.
Through its US subsidiary Panther Lithium Corporation (PLC), Chariot will drill 2000-3000 metres.
The company is chasing after spodumene-bearing pegmatite outcrops along a 1-kilometre by 50-metre zone.
At its peak width, the phase one drilling target range extends up to 150 metres.
CC9 shares last traded at 33.5 cents.