Chariot Corporation's first quarter activities report

Chariot Corporation Limited (ASX: $CC9) has successfully completed its maiden drilling campaign at the Black Mountain project, with the first three drill holes intersecting high-grade spodumene mineralisation. The project tenure area has also been significantly expanded by 206%, positioning the company for further exploration activities. As of 31 March 2024, Chariot holds a cash position of A$5.18 million, providing adequate liquidity for its upcoming endeavors.

Executive commentary on Black Mountain project

The Phase 1 Drilling Program at Black Mountain has yielded promising results, with high-grade spodumene mineralisation confirmed in the first three drill holes. Despite adverse weather conditions and a restrictive disturbance limit, we are eager to progress to the next phase of drilling with a substantially liberalized disturbance limit. The expansion of the project tenure area by 206% through the addition of 218 contiguous claims further solidifies our position for future exploration activities and value creation for our shareholders.

Summary of Chariot Corporation's activities and outlook

Chariot Corporation's successful completion of the maiden drilling campaign at the Black Mountain project marks a significant milestone, with the confirmation of high-grade spodumene mineralisation. The company's strong cash position of A$5.18 million as of 31 March 2024 provides a solid foundation for further exploration activities across its lithium portfolio. With the expanded project tenure area and ongoing assessment of its lithium projects, Chariot is well-positioned to pursue its corporate strategy and deliver value to its stakeholders. The company's ambitions for 2024 include continued exploration and development of its lithium opportunities, leveraging the positive results from the Black Mountain project to drive future growth and success.