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Chariot Corporation Ltd (ASX:CC9), which has until now concentrated its focus on lithium opportunities in the United States, is now looking to build a footprint in the southern hemisphere as well.
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CC9’s expansion comes via an application for seven exploration licences in a West Australian greenstone belt prospective for the aforementioned critical mineral and gold.
The WA territory in question is the Southern Cross Greenstone Belt, which is home to deformed greenstone sequences and pegmatites hosting lithium and which includes the 189 million-tonne Earl Grey lithium mine.
Gold is also a feature here, with more than 150 mines and several large systems observed in the area; the Marvel Loch Gold Centre is also set along the belt.
The latter’s main gold mine historically produced 24,883 tonnes grading 2.52 grams per tonne, for a yield of 2,014,000 ounces. Other nearby mines include Bounty, Yilgarn Star and Nevoria.
Chariot’s applications – which have been made through a wholly owned subsidiary – are located strategically between Earl Grey and Marvel Loch, situated on the Archean Yilgarn Craton, which has a specific prospectivity for lithium-caesium-tantalum (LCT) pegmatites as well as high-grade gold.
As well as the promise of Marvel Loch’s gold system, other geological prizes include deformed greenstone sequences featuring late-stage granitic intrusions and structural corridors where lithium pegmatites can be found.
Chariot has already pegged four areas of interest to be targeted for exploration work, in particular E77/3088 – which is noted as prospective for both gold and lithium and E77/3274 – which includes the Gem rubellite bearing pegmatite, as well as having gold-exploration potential.
This tenement is also within the mafic greenstone belt, which hosts the Earl Grey lithium deposit and Bounty gold deposit.
A geological review of the tenements will also be conducted by ERM Sustainable Mining Services, and upon granting, exploration work will include geological mapping, surface sampling, geochemical surveys, and drill programs based on results from the latter.
Chariot has been trading at 9cps through Thursday.
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