Resources Top 4: Chariot swings high as at least three ASX lithium juniors make strong moves

Resources Top 4: Chariot swings high as at least three ASX lithium juniors make strong moves

  • Chariot Corporation is hoping for a long, hot, lithium-finding North American summer in Wyoming
  • Meanwhile, AustChina Holdings is chasing ‘white gold’ in Tanzania
  • And Astute Metals is achieving high-grade lithium clay mineralization in Nevada, USA

Here are some of the biggest commodity winners in early trading, Wednesday, June 19.

Lithium hunter Chariot has begun its North American summer lithium hunt in Wyoming and investors are aware of the news: CC9 is currently up about 20% intraday.

The company notes that it has appointed ERM Australia Consultants to assist with the design and implementation of the summer yacht. And that’s a group that reportedly has a lot of experience when it comes to hard rock lithium activities, both locally and globally.

The exploration program will focus on Chariot’s Black Mountain project, but will also expand to include a hunt for the six other lithium-cesium-tantalite (LCT) pegmatite projects in Wyoming.

The plan is essentially to drill about 3,000 to 4,000 meters with portable rigs before a larger truck-based drilling program.

Drilling has commenced at AUH’s Chenene Lithium Project in Tanzania, targeting multiple high-priority lithium projects.

The initial diamond core drilling will initially include eight holes, with potential for expansion. In the first hole, pegmatite was found from a depth of six meters, near surface outcroppings.

Meanwhile, AustChina has also signed an Exclusive Binding Heads of Agreement to conduct due diligence in acquiring four licenses from Cassius Mining.

The drilling results will be available once the analysis comes back from laboratory testing, AUH notes.

More lithium. Surprising, yes? Pleasant, at least for believers in the critical battery metal.

Astute Metals is also exploring for “white gold” in the US and ASE is well aware of some new results from its first RC drilling campaign at the Red Mountain lithium project in Nevada.

High-grade lithium clay mineralization is reported in tests returned from the first three holes, indicating the possible discovery of a significant lithium deposit.

Specific returns highlighted include: 59.4 million at 1,300 ppm Li from 73.2 million; 15.2 ml at 810 ppm Li from 15.2 ml; and 6.10 m at 1,050 ppm Li from the surface and 12.2 m.

The company notes that the intersections at the project include more than 3 miles of strikes.

Now that the drilling campaign has been completed, test results from a further eight holes should be received by the end of July.

Source: Astute Metals

Critical mineral hunter Dreadnought is posting some non-lithium-based gains today.

The company is pleased to announce that it has expanded the current Tarraji-Yampi drill rig to the Gifford Creek and Tiger targets at its Mangaroon project, located in the Gascoyne region of Western Australia.

There is something going on at Mangaroon: nickel, copper, PGE, gold, REEs.

The company describes it as a “globally important critical mineral complex” with a combined, independent resource in the Yin Ironstones and the Gifford Creek carbonate of 40.82 Mt at 1.03% TREO.

Dreadnought notes that a reverse circulation (RC) drill rig has been secured to begin drilling on the Gifford Creek Nb-REE carbonate targets in July 2024, immediately following the Tarraji-Yampi drill program.

All ongoing and planned drilling includes:

• Copper-gold drilling (6 holes, ~1,640 m) in Tarraji-Yampi (on route)

• Niobium/REE drilling (15 holes, ~1,500 m) in the Gifford Creek carbonateite beginning after Tarraji-Yampi

• Copper-zinc-silver-gold drilling (6-9 holes, ~1,500 m) at the Tiger volcanic sulfide target after the Gifford Creek drill

• And gold drilling (13 holes, ~800m) in the historic Two Peaks, Popeye and Diamond gold mines.

Dreadnought’s MD, Dean Tuck, said: “The programs at Mangaroon include extensions of thick, high-grade niobium, testing areas of deeper weathering for niobium accumulations, as well as our first test of the exciting Cu-Au, Zn-Ag VMS target. at Tiger.”

At Stockhead we tell it like it is. Although Chariot Corporation is a Stockhead advertiser at the time of writing, it did not sponsor this article.