Chariot Corporation's revised strategy for Black Mountain

Chariot Corporation Limited (ASX:CC9) has announced a shift in strategy for the Black Mountain hard rock lithium project in Wyoming, U.S.A. The company aims to establish a smaller-scale 'pilot mine' at Black Mountain to produce spodumene concentrate, targeting the growing lithium supply deficit in the U.S. market. The Phase 2 drilling program will focus on defining a high-priority, small-scale lithium resource to support the construction of the Pilot Mine and lay the groundwork for future larger-scale resource definition.

Executive Commentary on Pilot Mine Strategy

The establishment of a pilot mine at Black Mountain aligns with our vision to capitalize on the increasing demand for lithium in the U.S. market. This strategy not only offers the potential for short-term cash flow but also positions us to optimize the development of larger-scale mining operations in the future. The modular plant design is expected to reduce upfront costs and provide flexibility for rapid expansion when needed. We are committed to addressing the U.S. lithium supply shortfall while minimizing environmental impact and capital expenditure.

Summary of Black Mountain Strategy & Drilling Plans

Chariot Corporation (ASX:CC9) has revised its strategy for the Black Mountain project in Wyoming, focusing on establishing a 'pilot mine' to produce spodumene concentrate and address the growing lithium supply deficit in the U.S. market. The Phase 2 drilling program aims to define a small-scale lithium resource to support the Pilot Mine and future large-scale resource definition. The company plans to leverage Wyoming's small-mine permit system and cost-efficient modular plant design to mitigate risks associated with future large-scale development. Chariot's strategy aligns with the U.S. government's push for domestic lithium production and aims to position the company as a key contributor to the emerging domestic lithium supply chain.