Chariot Corporation mobilises drill rig at Black Mountain lithium project

Newly-listed explorer Chariot Corporation (ASX: CC9) has taken delivery of a new drill rig at its flagship Black Mountain lithium project in the US state of Wyoming.

A Boart Longyear LF90 surface diamond core rig has been mobilised for a 3000 metre program managed by the company’s US subsidiary Panther Lithium Corporation.

Site preparation and earthworks was completed ahead of the rig’s arrival and included the transport of drilling and support equipment from Utah.

Phase 1 program

Panther’s initial Phase 1 program at Black Mountain will comprise 23 holes to target an outcropping spodumene-bearing LCT (lithium-caesium-tantalum) pegmatite dyke swarm within a zone measuring 1 kilometre in length and 150m in width.

It will operate around the clock in 12-hour shifts with rotating crews and will be subject to weather constraints during the northern winter.

Chariot expects to receive first assays in January.

Excellent combination

Chariot managing director Shanthar Pathmanathan welcomed the rig’s arrival and the start of drilling.

“This project features an excellent combination of geological factors, a supportive regulatory regime and is located in a largely unpopulated part of Wyoming… it represents a generational hard rock lithium opportunity in the heartland of the continental US,” he said.

“We believe this is the start of an exciting new phase for Chariot and for hard rock lithium exploration in Wyoming.”

Positive assays

Phase 1 drilling is based on positive assays from 22 rock chip samples collected to date from Black Mountain, 14 of which contained more than 300 parts per million lithium (0.06% lithium oxide).

Ten assays contained more than 7000ppm lithium (1.51% lithium oxide) with the highest value being 31,018ppm lithium (6.68% lithium oxide).

These modelled zones were used to develop the initial drilling plan, which has overlapping fans of holes at varying azimuths and dips from levelled pads.

Logging and sampling

The diamond drilled cores will be sent to Chariot’s core logging and sampling facility in Wyoming for cutting, density measurements and structural logging with a view to determining intervals for assay and mineralogy studies.

They will be orientated and sized to allow appropriate observations and measurements to be captured and will be eventually modelled as part of an in-depth lithological, geochemical, geological, geotechnical and structural analysis.

In August, Chariot received formal approval from the US Bureau of Land Management to conduct drilling at Black Mountain.

Its drilling plan was also given the green light by the Land Quality Division of the Wyoming Department of Environmental Quality and the US Department of Game and Fisheries.

Recent listing

Chariot made its Australian Stock Exchange debut last month following an oversubscribed $9 million initial public offering.

The company is chasing a dual strategy of hard rock lithium in Wyoming and claystone lithium in Nevada and Oregon.

The majority of funds from the IPO will be focused at Black Mountain where the company holds six pegmatite projects with 443 claims over 35.85 square kilometres.