High-Potential WA Lithium & Gold Tenements Secured
Released
Released
Announcement PDF
ASX ANNOUNCEMENT
19 February 2025
Applications for High-Potential WA Lithium & Gold
Tenements Secured
HIGHLIGHTS:
•
Applications for seven (7) exploration licences in the highly prospective Southern Cross
Greenstone Belt secured
•
Southern Cross Greenstone Belt is a world-class mining district with deformed greenstone
sequences, lithium-bearing pegmatites, and proximity to significant gold systems – it
extends from the Earl Grey Lithium Mine (mineral resource estimate 189Mt @ 1.53% Li₂O1)
to north of the Marvel Loch Gold Centre
•
Chariot is committed to progressing the flagship Black Mountain Lithium Project in the U.S.
while continuing to unlock value in Western Australia
Chariot Corporation Limited (ASX: CC9) (“Chariot” or the “Company”) is pleased to announce its seven
(7) applications for exploration licences in the Southern Cross Greenstone Belt in Western Australia,
which are held through a wholly owned subsidiary.
The Southern Cross Greenstone Belt, one of Western Australia's most significant gold-producing
regions with over 150 mines, is now emerging as a key region for lithium-caesium-tantalum (LCT)
pegmatites.
The recent application for E77/3274, together with the six prior applications, will establish a
substantial exploration position for Chariot in the Southern Cross Greenstone Belt upon grant.
Chariot's strategic, countercyclical approach in Western Australia has enabled the Company to secure
high-potential licenses relinquished by gold exploration companies in 2023 and lithium exploration
companies in 2024 - positioning itself ahead of the next lithium exploration cycle.
Chariot has a strong track record in monetising lithium assets in Western Australia, highlighted by the
profitable sale of fourteen (14) exploration licences to St George Mining Limited (“St George Mining”)
in 2023. As part of the transaction with St George Mining, Chariot retained royalty and milestone
payment interests, ensuring continued exposure to the upside potential of the sold licences.
Note 1: Refer Kidman Resources Limited ASX Announcement on 19 March 2018 titled: “Substantial increase in Earl
Grey Mineral Resource Estimate”
The Southern Cross Greenstone Belt
The Southern Cross Greenstone Belt, known for its prolific gold production from over 150 mines, is
also emerging as a key lithium region. Notable nearby gold mines include:
Deposit
Historical Production
Tonnes (kt)
Grade (g/t)
Ounces (oz)
Marvel Loch
24,883
2.52
2,014,000
Bounty
6,000
5.70
1,100,000
Yilgarn Star
7,200
4.63
1,072,000
Nevoria
4,464
3.05
437,000
Source: ERM’s GHM Independent Technical Assessment Report on the Southern Cross Tenements dated 25/10/24
Figure 1: Map of the Chariot applications and selected lithium & gold mines
Level 5, 191 St Georges Terrace Perth WA 6000
chariotcorporation.com
ABN 13 637 559 847
2
The applications are strategically positioned between the Earl Grey Lithium Mine (189Mt @ 1.53% Li₂O)
and the Marvel Loch Gold Centre, within the highly prospective Archean Yilgarn Craton, which is
renowned for its lithium-caesium-tantalum (LCT) pegmatites and high-grade gold deposits.
Key geological attributes
:
•
Deformed greenstone sequences with late-stage granitic intrusions.
•
Structural corridors hosting lithium-bearing pegmatites.
•
Proximity to the Marvel Loch gold system, a significant gold-producing region.
Priority Exploration Targets (Upon Grant)
•
E77/3088 – Flagged as a high-potential target for both gold and lithium and will be the initial focus
for exploration.
•
E77/3274 – Contains the Gem rubellite bearing pegmatite and has gold exploration potential. The
tenement lies within the mafic greenstone belt, which hosts the Earl Grey lithium deposit and
Bounty gold deposit.
•
E77/3076 & E77/3078 – Prospective for pegmatite hosted lithium, with potentially favourable
structural settings.
Tenement ID
Status
Application Date Size
E77/3076
E77/3078
Application
Application
27/2/2023
27/2/2023
2.91 km2
2.91 km2
E77/3084
E77/3088
E77/3216
Application
Application
Application
27/2/2023
27/2/2023
29/4/2024
5.82 km2
11.65 km2
5.82 km2
E77/3217
E77/3274
Application
Application
29/4/2024
14/2/2025
64.1 km2
2.91 km2
Western Australia Work Programs
Chariot has engaged ERM Sustainable Mining Services for a geological review of the applications. Upon
grant, exploration activities at the tenements are proposed to include:
•
Geological mapping
•
Surface sampling
•
Geochemical surveys
•
Drill programs based on results
Level 5, 191 St Georges Terrace Perth WA 6000
chariotcorporation.com
ABN 13 637 559 847
3
While Chariot continues to unlock value from its Western Australia assets, the Company remains
firmly focused on advancing its flagship Black Mountain Project in the U.S.
Authorised on behalf of the Board of Directors.
Shanthar Pathmanathan
Managing Director
Chariot Corporation Ltd
Level 5, 191 St Georges Terrace Perth WA 6000
chariotcorporation.com
ABN 13 637 559 847
4
Important Notice
Statements in this announcement are made only as of the date of this announcement unless
otherwise stated and the information in this announcement remains subject to change without notice.
To the maximum extent permitted by law, neither Chariot nor any of its affiliates, related bodies
corporate, their respective officers, directors, employees, advisors and agents or any other person
accepts any liability as to or in relation to the accuracy or completeness of the information,
statements, opinions or matters (express or implied) arising out of, contained in or derived from this
announcement or any omission from this announcement or of any other written or oral information
or opinions provided now or in the future to any person.
This announcement may contain some references to forecasts, estimates, assumptions and other
forward-looking statements. Although the Company believes that its expectations, estimates and
projected outcomes are based on reasonable assumptions, it can give no assurance that they will be
achieved.
In addition, the map of Chariot’s tenement applications included in this announcement contains
references to selected lithium and gold mines in the region for contextual and informational purposes
only. These references do not imply that mineralisation within Chariot’s applications is comparable to
or indicative of mineralisation found at these third-party projects. The tenements shown are
applications only and remain subject to the standard regulatory approval process. There is no
guarantee that all or any of these applications will be granted, nor that any granted tenements will
host economically viable mineralisation. Investors should not rely on the proximity of Chariot’s
applications to other mineral deposits as a measure of their prospectivity.
Level 5, 191 St Georges Terrace Perth WA 6000
chariotcorporation.com
ABN 13 637 559 847
5
About Chariot
Chariot Corporation Limited is a mineral exploration company focused on discovering and developing
high-grade and near surface lithium opportunities in the United States. Chariot has twelve (12) lithium
projects, including two core projects (the “Core Projects”) and a number of exploration pipeline
projects which Chariot majority owns and operates. The Core Projects include Chariot’s flagship Black
Mountain Project (which is prospective for hard rock lithium) in Wyoming, USA and the Resurgent
Project (which is prospective for claystone lithium) in Nevada and Oregon, USA. Initial survey results
from the Core Projects indicate high-grade lithium mineralisation at surface.
Chariot holds an interest in six exploration pipeline projects located in Wyoming, USA, including, the
Copper Mountain Project, the South Pass Project and four other hard rock lithium projects.
Chariot holds an interest in a hard rock lithium project in Zimbabwe which is prospective for
spodumene bearing pegmatites.
In addition, Chariot holds a portfolio interest in certain properties prospective for claystone hosted
lithium located in the State of Nevada in the United States through its interest in Mustang Lithium LLC.
Level 8, 216 St Georges Terrace Perth WA 6000
chariotcorporation.com
ABN 13 637 559 847
6
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