Investor Presentation
Released
Released
Announcement PDF
OR
HARDROCK
Investor
Presentation
November 2024
CLAYSTONE
WY
NV
ASX: CC9
Investor Presentation | November 2024 | chariotcorporation.com
chariotcorporation.com
1
Chariot’s U.S. Portfolio Overview
Portfolio Overview
1
Black Mountain Project Pilot Mine (near term)
• Black Mountain exhibits high grade spodumene mineralisation at surface – i.e. may support shallow-open pit mining
• Wyoming has a streamlined small-mine permit system
• Black Mountain is near U.S. lithium hydroxide refinery developments
OR
HARDROCK
CLAYSTONE
2
Black Mountain Project large-scale mining (long-term)
WY
NV
• First three (3) diamond drill holes at Black Mountain have intersected near surface, high-grade spodumene mineralisation
• Best result was 15.48m @ 1.12% Li2O from 2.74m, including 4.27m @ 2.46% Li2O from 9.94m
3
Resurgent Project (claystone)
• Resurgent is the company’s other core project and represents the 2nd largest land position in the McDermitt Caldera, Nevada
• The McDermitt Caldera hosts the two largest lithium resources discovered to-date (Thacker Pass has 19.1mt LCE1 and McDermitt has
21.5mt LCE2)
• Highest grade surface sample at Resurgent was 3,865 ppm Li and 20 surface samples at Resurgent returned values greater than 1,000
ppm Li
• The U.S. DOE & General Motors have conditionally committed a combined total of US$3.2b to develop the Thacker Pass Project
4
Horizon Project (claystone)
• Maiden mineral resource estimate of 1.3 million tonnes LCE indicated and 8.8 million tonnes LCE inferred 3
• The projects neighbour American Lithium Corp.’s (TSX-V: LI) TLC project (MRE 10.69 Mt LCE)4 and American Battery Technology
Company’s (NASDAQ: ABAT) Tonopah Flats project (MRE 18.63 Mt LCE)4
• Horizon’s mineral resource estimate potentially enables near term monetisation of the asset
5
Notes:
1) Lithium Americas Corporation’s (NYSE: LAC) (LAC) Thacker Pass
Deposit contains a total NI 43-101 Measured (7.0Mt), Indicated
(9.1Mt), and Inferred (3.0Mt) Mineral Resource of 19.1Mt LCE at a
1,047 ppm Li cut-off grade (“COG”). Refer to Lithium Americas
Thacker Pass Feasibility Study NI 43-101 dated 2 November 2022.
2) Jindalee’s McDermitt Project which contains a total JORC (2012)
Indicated (11.1Mt) and Inferred (10.4Mt) Mineral Resource of 21.5Mt
LCE at a 1,000 ppm Li COG. Refer to Jindalee Resources Limited
company announcement 27 February 2023.
3) Refer to Chariot’s ASX announcement dated 4 September 2024 and
slides 23 & 24 for more details.
4) Refer to slide 23 for more details.
Exploration Pipeline Projects
• Total of seven (7) hard rock lithium projects in Wyoming with 795 claims covering 6,297 ha (including Black Mountain)
Investor Presentation | November 2024 | chariotcorporation.com
chariotcorporation.com
2
North American Lithium Demand and IRA1
compliant Supply
Majority of current & near-term lithium supply is contracted to China and/or uneconomic to
ship to U.S., leaving the U.S. short of Inflation Reduction Act (IRA)-compliant lithium
Demand
Base: Benchmark Minerals North American Base Demand
Mid: Average of Base and High
Black Mountain, Resurgent and
Horizon could fill this ‘supply gap’
800,000
700,000
High: Benchmark Minerals North American High Demand
600,000
Supply
500,000
Domestic: Operating, highly probable, and probable Benchmark
Minerals data weighted for U.S.A. domestic production
400,000
IRA Realistic: IRA compliant supply operating, highly probable
and probable that is potentially available to the U.S. (excluding
supply contracted to China and Europe)
Legend
Lithium Hydroxide Supply Domestic USA
Lithium Carbonate Supply Domestic USA
Lithium Hydroxide Supply IRA - Realistic
Lithium Carbonate Supply IRA - Realistic
North America Demand - Base
North America Demand - Mid
300,000
200,000
100,000
0
2024
2025
2026
2027
2028
2029
2030
North America Demand - High
Corporate Presentation | November 2024 | chariotcorporation.com
chariotcorporation.com
Notes:
1) Sourced from Giga USA 2024 – Benchmark Mineral Intelligence conference.
3
Corporate Structure
Chariot Corporation Ltd
Other Mustang Unitholders3
(Organised under Australian Law & listed on the ASX)
Private individuals
Exploration Pipeline Projects
75.9%
Copper Mountain
93.9%1
79.4%2
24.1%
Panther Lithium
Corporation
FMS Lithium
Corporation
Mustang Lithium LLC
South Pass
100%
Pathfinder
Tin Cup
(Organised under Delaware
Law)
(Organised under Nevada
Law)
100%
100%
Barlow Gap
(Organised under Delaware Law)
Halo Lithium
Project
Horizon
Lithium
Project
Lithic Property
Sale
JC
Black Mountain
Resurgent
KEY PROJECTS
Notes:
1) Chariot holds a 93.9% interest in Wyoming Lithium Pty Ltd, which holds a 100% interest in Panther Lithium Corporation.
2) Chariot holds a 45.3% direct interest in FMS Lithium Corporation (“FMSL”) and a 34.1% beneficial interest in FMSL is through (a) a 100% interest in Metroview Holdings Pty Ltd, Pierview Holdings Pty Ltd, IDEVELOP WA
Pty Ltd and BGA Chariot Pty Ltd, which combined, hold a 4.2% direct interest in FMSL, and (b) an 82.6% interest in Rosepoint Holdings Pty Ltd, which holds a 36.2% direct interest in FMSL (29.9% beneficial interest).
3) 24.2% of Mustang Lithium LLC’s membership interest is held by Chariot directors Shanthar Pathmanathan and Fred Forni.
Investor Presentation | November 2024 | chariotcorporation.com
chariotcorporation.com
44
Corporate Overview
CC9
$2.6m
$0.17
ASX ticker
Cash on hand1
Share price2
Options on Issue3
158.4m
23.0m
5.6m
Shares on issue3
Options on issue3
Performance rights4
$1.20
4.5M
4.0M
Options
Exercise Price
Expiry
4,890,667
$0.25
31/12/2024
771,000
$0.52
23/12/2024
1,000,000
$0.585
26/10/2026
62,500
$0.30
07/06/2026
62,500
$0.60
07/06/2026
100,000
$0.90
07/06/2027
150,000
$1.20
07/06/2027
375,000
$1.50
07/06/2027
7,795,000
$0.30
17/10/2025
7,795,000
$0.35
17/10/2026
Shareholder Overview
$1.00
$0.80
3.0M
2.5M
$0.60
2.0M
$0.40
1.5M
Volume Traded (#)
Share Price (A$/share)
3.5M
26%
74%
1.0M
$0.20
0.5M
$0.00
Oct-23
0.0M
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
Apr-24
May-24
Volume
CC9
Jun-24
Jul-24
Aug-24
Sep-24
Board & Management
Investors
Oct-24
Notes:
1) Cash estimate as of 30/9/24 and pro forma the placement of $1.618m as announced on 21/10/24.
2) As of 5/11/2024
3) Pro forma and subject to the settlement of a $1.618m placement as announced on 21/10/2024.
4) 5.6m performance rights to held by Frederick Forni, Neil Stuart, Ramesh Chakrapani and Trinity Cooper.
Investor Presentation | November 2024 | chariotcorporation.com
chariotcorporation.com
5
Key Projects Ranking
Key Projects
Ranking:
1
2
3
4
5
6
Project
Black Mountain
– Pilot Mine
Black Mountain
– Large Scale
Resurgent North
Resurgent East
Horizon
Other Wyoming Projects
Location
Wyoming, U.S.A.
Wyoming, U.S.A.
Oregon, U.S.A.
Nevada, U.S.A.
Nevada, U.S.A.
Wyoming, U.S.A.
Hard Rock
Lithium
Hard Rock
Lithium
Claystone
Claystone
Claystone
Hard Rock
Lithium
Surface-sampled
Lithium Mineralisation
Type
Exploration Status
Drilled
Drilled
Surface-sampled
Surface-sampled
Drilled and Foreign NI 43101 Mineral Resource
Estimate completed
Potential for Near-Term
Cash Flow
Phase 1 drilling
Large-scale Resource
Potential
Small-scale resource to
be defined in
short-term
1.3 million tonnes LCE
indicated and 8.8 million
tonnes LCE inferred1
Next steps
Resource-drilling
& process engineering
Pilot Mine to
inform large-scale
development
Phase 1 drilling
Phase 1 drilling
Potential sale/
monetization
Investor Presentation | November 2024 | chariotcorporation.com
chariotcorporation.com
Notes:
1) Refer to Chariot’s ASX announcement dated 4 September 2024.
6
Indicative Project Development Timelines
Pilot
Mine
Phase 1
Drilling
Black Mountain
Phase 2
Drilling
Resource Definition Permitting &
& Met Testing
Feasibility
Modular Plant Construction
& Mine Development
Pilot Mine development
workstreams can feed into Black
Mountain Large-scale Mine
Potential Cash flow from Black
Mountain Pilot Mine can be used
to fund other projects
Large-scale Projects
Development Timeline
Exploration
Black Mountain
First
Production
Phase 1 & 2 drilling
Phase 3
Drilling +
Resource
Definition
Preliminary Economic
Assessment
Feasibility
Construction
First
Production
Plant & Pit
Expansion
Design
Feasibility
Study
Modular Plant
Expansion
Cash
Flow
Permitting
Resurgent
Horizon
21 out of 22 drill holes hit lithium
NI 43-101 Resource
Estimate: 10.2Mt
LCE1
Exploration Pipeline Projects
Denotes current progress of relevant project
Corporate Presentation | November 2024 | chariotcorporation.com
chariotcorporation.com
Notes:
1) Pan American Energy Corp. announced a maiden Mineral Resource estimate on 20 November 2023. On 4 January 2024, Pan American Energy filed a technical report pursuant to National Instrument 43-101 –
Standards of Disclosure for Mineral Projects (“NI 43-101”) entitled “NI 43-101 Technical Report for the Horizon Lithium Project” with an effective date of December 21, 2023. Neither Chariot nor Mustang
Lithium LLC has independently verified the information relating to the Horizon NI 43-101 Mineral Resource Estimate.
7
Leadership and Exploration Team
Exploration Team
Shanthar Pathmanathan
Frederick Forni
Edward Max Baker
Managing Director
Executive Director
Geological Consultant
• Prior CEO and MD of Lithium
• Senior finance professional with over
• Ph.D. Geologist and a fellow AusIMM.
• Over 50 years of experience, working
Consolidated Ltd, which had one of
the largest portfolios of hard rock
lithium exploration assets, globally.
• 14 years investment banking
experience in the metals and mining,
oil and gas and chemicals sectors.
• Previous VP with Deutsche Bank’s
investment banking division and held
investment banking and principle
investment roles with Macquarie
Group.
25 years of investment banking
experience.
• Prior Senior Managing Director of
Macquarie Holdings (USA) Inc.
across multiple continents and
commodities, including tin-tantalum
pegmatites.
• Holds a B.A. in Economics from
• Prior Chief Geologist at Newcrest during
Connecticut College, a J.D., from
Georgetown University Law Center.
the discovery and development phases
of the Cadia and Gossowong deposits.
• Previously VP Exploration for Integra
Resources Corp.
David Trabert
Project Manager
Neil Stuart
Ramesh Chakrapani
Non-Executive Director
Chief Strategy Officer
• Prior founding Director and Chairman
• Over 20 years of experience in the
of Orocobre Limited, now Arcadium
Lithium (ASX: LTM) post-merger with
Galaxy Resources Limited and Livent
Corporation.
• 50 years exploration experience, 20 of
which were involved with the
exploration and commercial
development of lithium projects.
investment banking and alternative
asset investing space including over
15 years at The Blackstone Group
where he was a Managing Director
• Represented The Blackstone Group on
the boards of selected investments
• Exploration Geologist with over 30
years of experience working in
mineral exploration and oil & gas
development.
• AngloGold Ashanti country manager
between 2001 & 2004.
Kifor Muroff
Exploration Geologist
• Diverse set of industries, asset classes,
geographies, and liquidity profiles
• Exploration geologist with several
years of experience in both hard rock
and claystone lithium.
Investor Presentation | November 2024 | chariotcorporation.com
chariotcorporation.com
8
Wyoming
Hard Rock
Why Wyoming?
Tier 1 Mining District
Proximity to Refineries
and Battery Plants
No Material Land Use
Restrictions
Supportive Policy &
Strong Legal Framework
Map to be updated with
new BMclaims
Extensive Road and Rail
Infrastructure
Highly Prospective
Geology
Investor Presentation | November 2024 | chariotcorporation.com
chariotcorporation.com
10
Wyoming Hard Rock
Lithium Projects
The Next U.S. Hard Rock Lithium Region
• Chariot has seven (7) lithium exploration projects in Wyoming,
covering a total of 6,296 hectares:
1. Black Mountain (6,632 acres or 2,684 ha)
2. Copper Mountain (1,628 acres or 659 ha)
3. Tin Cup (929 acres or 376 ha)
4. Jeffrey City (185 acres or 75 ha)
5. Barlow Gap (1,238 acres or 501 ha)
6. Pathfinder (578 acres or 234 ha)
7. South Pass (4,366 acres or 1,767 ha)
Wyoming is a Mining Friendly state
• Long history of coal and uranium mining with a ranking of 9th in the
2023 Fraser Institute’s Policy Perception Index. Resources are the
largest contributor to State’s economy (21% of 2019 GSP)1
• Limited challenges from national parks, national monuments or
urban areas. Although Wyoming is the 10th largest state by land
mass, it has the smallest population of any state (<600,000)2
• Wyoming’s small-mine permit system offers a pathway for the
establishment of a pilot mine
Investor Presentation | November 2024 | chariotcorporation.com
chariotcorporation.com
Notes:
1) Sourced from Statewide Freight Assessment: Wyoming 2022
2) Sourced from the United States Census Bureau
11
Black Mountain
Historical Exploration & Phase 1 Drilling Results
• Initial rock chip sampling results yielded up to 6.68%
lithium oxide (Li2O)
• Phase 1 diamond drilling program completed in
February 2024 with 1st 3 diamond drill holes
intersecting near surface, high-grade spodumene
mineralisation
Drill Hole
From
(m)
To (m)
Interval
(m)
Li2O%
Ta2O5
ppm
BMDDH23_01
2.74
18.23
15.48
(14*)
1.12
78.8
including
4.15
5.49
1.34
1.91
68.0
and
9.94
14.2
4.27
2.46
128.4
BMDDH23_02
1.83
16.15
14.33
(13*)
0.84
61.3
including
10.67
12.95
2.29
3.09
137.7
45.26
62.73
18.81 (8*)
0.85
98.4
47.55
53.34
5.79
1.08
104.9
BMDDH23_03
Includes
2.29m of core
loss between
45.26m and
47.55m
including
Investor Presentation | November 2024 | chariotcorporation.com
chariotcorporation.com
Notes:
1) Refer to ASX announcements dated 2/2/24 and 3/5/2024.
2) Intervals reported are downhole widths which are greater than apparent widths.
12
Black Mountain
Phase 2 Drilling Program
• The Phase 2 Drilling program to be completed soon under the current
permit, which allows a 5-acre disturbance area
• Phase 2 Drilling program objectives are to:
1. Quickly and cost-effectively identify a small lithium resource to
support establishment of a Pilot Mine
2. Improve understanding of the mineral deposits to help plan for
larger mining operations in the future
• Drilling will be focussed on 2 areas with lithium-pegmatite formations
visible at the surface
• Previous drilling in this area already found lithium near the surface
• The program will include up to 43 drill holes reaching a total depth of
up to 4,300m
• Reverse circulation (RC) drilling will be used, given it is a quick and
cost-effective method with minimal environmental impact
Investor Presentation | November 2024 | chariotcorporation.com
chariotcorporation.com
Notes:
1) See Chariot’s ASX announcement dated 2 February 2024 and 20 August 2024.
2) See Chariot’s ASX announcement dated 2 February 2024.
13
Black Mountain provides a potential fast-to-market solution to supply the
future U.S. lithium hydroxide refineries with spodumene concentrate
Black Mountain
Pilot Mine
BLACK
MOUNTAIN
NATRONA COUNTY
WYOMING
BLACK MOUNTAIN
‘Pilot Plant’
POTENTIAL
SUPPLY FROM
CANADA
Key Drivers
WYOMING
High-grade lithium
mineralisation at & near
surface
2.
Small-scale open-pit mine
3.
Modular & scalable plant
4.
Wyoming’s small-mine
permit system
5.
Supply products to USA
offtake facilities
6.
Leverage existing
infrastructure and local
personnel
7.
Pilot Mine may de-risk
future larger-scale mine
development
Li2OH Refinery
NEVADA
IMPORTING
FROM AFRICA
IMPORTING
FROM AUSTRALIA
1.
Li2OH Refinery
Li2OH Refinery
Notes:
1) The map is solely for illustrative purposes and should not be relied upon for accuracy or realistic representation.
Investor Presentation | November 2024 | chariotcorporation.com
Conceptual diagram to illustrate
Black Mountain Pilot Mine strategy
chariotcorporation.com
14
14
Black Mountain Pilot Mine: Strategy
Key Driver
1.
2.
3.
4.
High-grade lithium
mineralisation at & near
surface
Small-scale open-pit mine
Modular & scalable plant
Wyoming’s small-mine
permit system
Strategy
Leverage previous drilling results – which indicated high-grade lithium
mineralization starting at surface and encountered as deep as 45.3m below
surface
•
•
Complete a reverse circulation (RC) drilling program in late 2024 - early 2025
•
Shallow open-pit mining suited to mineralisation at or near surface
On site processing with modular plant design
•
Implications
•
Quickly and cost-effectively define a small-scale lithium resource
•
Rapid penetration rates achieved by RC drilling should quickly determine suitability of resource for Pilot Mine
concept
•
Shallow open pit mining is the only feasible method
•
Lowers mining costs
•
Drilling, blasting and mining of pegmatite dykes can be demonstrated and improve future dilution
•
Lowers construction and transportation costs
•
Scalable modular processing plant for capital efficient expansion(s)
•
Proven technology
•
200 kg of mineralized HQ drill core in storage in Wyoming to be transported to Perth for metallurgical testing
•
Leverage Western Australia and South African plant engineering and fabrication expertise
•
Permitting process
•
Suitable for projects like Black Mountain with near surface mineralisation
•
Engage with Federal, state and county regulators
•
No limits on mineral volume extraction
•
Annual limits on the mining activities to 10 acres (4.05 hectares) of disturbance and 35,000 cubic yards (26,760
cubic metres) of overburden removal
5.
Supply products to USA
offtake facilities
•
Negotiate offtake contracts
•
Black Mountain’s proximity to U.S. lithium hydroxide refineries currently under construction in the southern
United States is expected to provide a geographic advantage in marketing product extracted from the Pilot
Mine
6.
Leverage existing
infrastructure and local
personnel
•
Utilize local infrastructure and personnel (where possible)
•
With minimal site infrastructure, major local, state and federal infrastructure can be readily accessed
7.
Pilot Mine may de-risk
future larger-scale mine
development
•
Data from Pilot Mine can facilitate large-scale mine development
•
Small-scale lithium resource definition can lead to larger-scale resource definition
•
Improved understanding of project geology and grade control requirements to enhance future larger-scale
development
Investor Presentation | November
July 2024 | 2024
chariotcorporation.com
| chariotcorporation.com
chariotcorporation.com
chariotcorporation.com
15
15
Black Mountain Pilot Mine:
Project Execution Sequencing
Key Driver
1.
High-grade lithium
mineralisation
2. Quarry-size open-pit Mine
Workstreams
Indicative Sequencing
Black Mountain Pilot Mine:
Advisors
Phase 2 Drilling Program
Small-scale Lithium Resource Definition
Mine Development
METS Engineering Group Pty Ltd
Metallurgical testing
Plant & Process Engineering
3. Modular & scalable plant
Feasibility Study
ERM Australia Consultants Pty Ltd - (formerly CSA
Global) and ERM Sustainable Mining Services (“ERM”)
Detailed Design
Plant Construction
4.
Wyoming’s small-mine
permit system
Crowley Fleck Lawyers
Permitting
Baseline Studies
5.
Supply products to USA
offtake facilities
Offtake Agreements
6.
Commissioning/ Production
Commissioning/ Production
Investor Presentation | November 2024 | chariotcorporation.com
Metallurgical Testing Laboratory – Discussions in
progress
Permitting Specialists – Discussions in progress
chariotcorporation.com
16
Black Mountain Pilot Mine:
Illustrative Process Flowsheet
Full slide image
Notes:
1) Footnotes
Investor Presentation | November
April 2024 |2024
chariotcorporation.com
| chariotcorporation.com
chariotcorporation.com
chariotcorporation.com
17
17
Resurgent
Project
1
Resurgent Project
Overview
• The Resurgent Project is a claystone-hosted lithium project located in the
McDermitt Caldera in Oregon and Nevada, U.S.A.
JINDALEE
McDermitt Project
MRE: 21.5mt LCE
• The lithium deposits in the Caldera occur in ancient lake sediments that
surround the centre of the caldera
• The Resurgent Project comprises 1,210 claims
• McDermitt Caldera hosts the two largest lithium mineral resources
discovered to-date in the United States
Selected Surface
Assay Results2
Sample ID
ppm Li
Sample ID
ppm Li
679862
3,865
340673
2,089
679860
3,836
340652
1,883
340655
3,471
340667
1,679
679859
3,164
679858
1,650
679861
2,838
340752
1,645
679856
2,672
340663
1,538
461038
2,638
679885
1,526
340653
2,442
340654
1,418
340664
2,381
679937
1,122
Notes:
1) Chariot holds a 79.4% beneficial interest in FMSL, which owns 100% of the Resurgent Project.
2) FMSL collected 289 surface samples at the Resurgent Project, with 20 samples assaying >1,000 ppm Li and a best assay result of 3,865 ppm Li. Typical mineral
resource estimate cut-off grade for claystone lithium is 1,000 ppm Li. Refer to Independent Technical Assessment Report (Resurgent Project) in Chariot’s Prospectus
dated 23 August 2023 for the full list of assay results.
3) Based on Lithium Americas Corp. market capitalisation. Source: S&P Capital IQ accessed 4/11/ 2024.
4) Based on Jindalee Lithium Limited market capitalisation. Source: S&P Capital IQ accessed 4/11/2024.
5) Lithium Americas Corporation’s (NYSE: LAC) (LAC) Thacker Pass Deposit contains a total NI43-101 Measured (7.0Mt), Indicated (9.1Mt), and Inferred (3.0Mt) Mineral
Resource of 19.1Mt LCE at a 1,047 ppm Li cut-off grade (“COG”). Refer to Lithium Americas Thacker Pass Feasibility Study NI43-101 dated 2 November 2022.
6) Jindalee’s McDermitt Project which contains a total JORC (2012) Indicated (11.1Mt) and Inferred (10.4Mt) Mineral Resource of 21.5Mt LCE at a 1,000 ppm Li COG.
Refer to Jindalee Resources Limited company announcement 27 February 2023.
Investor Presentation | November 2024 | chariotcorporation.com
U.S. Department of
Energy committed a
conditional $2.26b loan
GM committed to invest
US$945m
to develop
Thacker Pass
LITHIUM AMERICAS
Thacker Pass Mine
MRE: 19.0mt LCE
Claims (#)
Area (Ha)
Mineral Resource (mt LCE) Head Grade (ppm Li) Indicative Asset Value (US$m)
Chariot1
1,210
10,120
N/A
N/A
N/A
Lithium Americas
~3,064
24,629
19.0 (MII)5
2,0365
$9203
Jindalee
671
5,460
21.5 (II)6
1,3406
$124
Disclaimer: The Company notes that details of neighbouring projects are included for information purposes only and is not an indication of the
prospectivity of the geology of the Company's projects.
chariotcorporation.com
19
Resurgent North
Overview
• Believed to share the same sedimentary units that host Jindalee’s McDermitt
project (ASX: JRL) with a JORC MRE of 21.5 mt LCE1
• Resurgent North abuts Jindalee’s McDermitt project and follows the same
stratigraphic sequence – based on rock-chip results
• A surface sampling campaign of 289 samples was conducted in 2021 at Resurgent
North. 70 samples returned values of greater than 100 ppm Li, 20 samples
returned values greater than 1,000ppm Li and 10 samples returned values
greater than 2,000 ppm Li2
• Highest surface sample assayed at 3,865 ppm Li (over 3x typical lithium
claystone MRE cut-off grade)3
A’
Aurora Energy Metals
A
Exploration Plan
• Additional soils sampling programme across the Project
• Drill target planning
• NOI approved, awaiting Oregon Department of Geology and Mineral Industries
approval
Jindalee
Jindalee McDermitt Project
Resurgent Project
JINDALEE
McDermitt
Project
MRE: 21.5mt
LCE1
Caldera moat sediments
Lithium Mineral Resource
Interpreted exploration target
Chariot
A’
A
Notes:
1) Jindalee Lithium Limited company announcement 27 February 2023.
2) Refer to Independent Technical Assessment Report (Resurgent Project) in Chariot’s Prospectus dated 23 August 2023 for the full list of assays results.
3) Jindalee Lithium Limited McDermitt Project applies a Mineral Resource COG of >1,000 ppm Li. Refer to Jindalee Lithium Limited company announcement 27 February 2023.
Investor Presentation | November 2024 | chariotcorporation.com
chariotcorporation.com
20
Resurgent East
Overview
• Resurgent East claims target the same sedimentary units that host the
Thacker Pass lithium deposit (MRE: 19.1mt LCE) and it is hoped that
exploration results will establish analogous mineralisation
• Thacker Pass stratigraphy features a low-grade zone (~25-30m thick < 4,000
ppm Li) overlaying a high-grade zone (~25-30m thick > 4,000 ppm Li)1
Exploration Plan
• A soil and rock chip program focused on aerial mapped sub crop with the
aim of testing through the gravel cover
• Drilling target planning
A’’
A’’’
Note:
1) Refer to the
Independent Technical
Assessment Report
(Resurgent Project) in the
Chariot Prospectus dated
23 August 2023 for
further details
Investor Presentation | November 2024 | chariotcorporation.com
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21
Mustang
Lithium LLC
Horizon & Halo
Lithium Projects
Overview
• The Horizon Lithium Project and Halo Lithium Project, together, consist of
937 mineral claims over 19,358 acres in Tonopah, Nevada, USA
10.69Mt
LCE MRE1
Market Cap:
C$209m4
• The projects neighbour American Lithium Corp.’s (TSX-V: LI) TLC project
(MRE 10.69 Mt LCE1) and American Battery Technology Company’s
(NASDAQ: ABAT) Tonopah Flats project (MRE 18.63 Mt LCE2)
• Maiden mineral resource estimate of 1.3 million tonnes LCE indicated
and 8.8 million tonnes LCE inferred at Horizon3
• Significant upside remains for resource expansion and definition
• Suitable for low-cost and sustainable mining methods
• Access to great infrastructure – highways, electrical, rail and gas
• Well positioned to benefit from strong federal and state government
support
18.63Mt
LCE MRE2
Market Cap:
US$74m4
10.2Mt LCE MRE3
Notes:
1) Consisting of a measured resource estimate of 860 Mt @ 924 ppm Li, an indicated resource estimate of 1,192 Mt @ 727 ppm Li and an inferred resource estimate of
486 Mt @ 713 ppm Li, using a cut-off of 500 ppm Li, prepared in conformity with CIM “Estimation of Mineral Resource and Mineral Reserves Best Practices”
guidelines and is reported in accordance with the Canadian Securities Administrators NI 43-101. Announced on 16 January 2023 by American Lithium Corp.
2) Consisting of a measured resource estimate of 721 Mt @ 702 ppm Li, an indicated resource estimate of 2,439 Mt @ 565 ppm Li and an inferred resource estimate of
2,931 Mt @ 550 ppm Li, using a cut-off grade of 300 ppm Li in accordance with the SEC S-K 1300 New Mining Disclosure Rule. Announced on 18 January 2024 by
American Battery Technology Company.
3) Pan American Energy Corp. announced a maiden Mineral Resource estimate on 20 November 2023. On 4 January 2024, Pan American Energy filed a technical report
pursuant to National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) entitled “NI 43-101 Technical Report for the Horizon Lithium
Project” with an effective date of December 21, 2023. Neither Chariot nor Mustang Lithium LLC has independently verified the information relating to the Horizon NI
43-101 Mineral Resource Estimate.
4) Market capitalisation as of 4/11/2024
Investor Presentation | November 2024 | chariotcorporation.com
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23
Horizon & Halo Lithium Projects
Horizon Project: Exploration History and results
Halo Project: Exploration History and results
Halo Lithium
Cut-off
(ppm Li)
Total
(K-tonnes)
Average Grade
Lithium (ppm)
Lithium
(K-tonnes)
LCE
(K-tonnes)
Indicated
300
372,845
669
249
1,325
Inferred
300
2,453,963
680
1,668
8,879
Classification
Hole No.
From (m)
To (m)
Width (m)
Li (ppm)
Halo-001-23
57.05
95.25
38.23
938
Halo-002-23
212.09
232.34
20.25
1,026
Halo-003-23
179.81
242.01
62.2
994
Halo-004-23
224.33
244.14
19.81
1,368
Notes:
1) Neither Chariot nor Mustang Lithium LLC has independently verified the information relating to the Horizon NI 43-101 Mineral Resource Estimate as published by Pan American Energy Corp. or the exploration results as published by POWR Lithium Corp.
Investor Presentation | November 2024 | chariotcorporation.com
chariotcorporation.com
24
24
ESG Commitment
Driving the Future of American-Made Clean Energy
with Sustainable Domestic Lithium
Environmental
Social
Governance
• As the U.S. accelerates its
transition to electric
vehicles, our lithium
exploration projects play a
critical role in supporting
domestic supply chains for
EV battery production.
• Partnering with local
communities, creating
jobs and supporting local
economies in the rural
U.S.
• Ensuring compliance with
U.S. federal and state
regulations on exploration
and environmental
protection.
• Supporting the strong
move to ‘American Made’
electric vehicles in the U.S.
and helping the U.S.
achieve energy
independence by sourcing
lithium domestically.
• Best practice corporate
governance standards and
business ethics
• Ensure regulatory
compliance as a minimum
• Committed to restoration
and rehabilitation of all
project sites
• Implementing and
maintaining top-tier health
and safety standard for
employees and business
partners.
Investor Presentation | November 2024 | chariotcorporation.com
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25
Important
Notice
Any material used in this presentation
is only an overview and summary of
certain data selected by the
management of Chariot Corporation Ltd
(“Chariot”).
The presentation does not purport to contain all the information
that a prospective investor may require in evaluating a possible
investment in Chariot and should not be used in isolation as a basis
to invest in Chariot. Recipients of this presentation must make their
own independent investigations, consideration and evaluation
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