
August 29, 2024
Chariot Corporation Limited (ASX:CC9) (“Chariot” or the “Company”) owns 24.1% of Mustang Lithium LLC (“Mustang”), which through two wholly owned subsidiaries, is in the process of repossessing full, unencumbered ownership of the Horizon and Halo lithium projects located in the Big Smoky Valley claystone-hosted lithium play near Tonopah, Nevada, United States (see the ‘Property Option Agreements’ section below).
HIGHLIGHTS:
- Chariot holds a 24.1% ownership interest in Mustang which is in the process of terminating property option agreements entered into by two of its wholly-owned subsidiaries with Pan American Energy Corp. (CSE Ticker: PNRG) and POWR Lithium Corp. (CSE Ticker: POWR), which will result in the subsidiaries’ repossession of full and unencumbered ownership of the Horizon and Halo lithium projects, respectively
- Each of Pan American Energy Corp. and POWR Lithium Corp. decided not to make the required payment of claims maintenance fees to the BLM and to surrender their respective interests in the mineral claims
- Pan American Energy Corp. and POWR Lithium Corp. have each cited the current market conditions as the principal reason for terminating their respective property option agreements (see Pan American Energy Corp.’s announcement: Pan American Energy's Announcement dated 29 August 2024)
- Mustang completed a capital raise of US$250,000 through the issue of convertible notes and has used the proceeds of the issuance to pay the maintenance fees to maintain its interest in the Horizon and Halo lithium projects
- Pan American Energy Corp. has conducted exploration activities at the Horizon Lithium Project in Nevada, U.S.A. and has announced a maiden Mineral Resource estimate on 20 November 2023 and announced a NI 43-101 compliant technical report on 4 January 2024. An electronic copy of the technical report can be found on SEDAR at: SEDAR FILING
- The Horizon Lithium Project maiden Mineral Resource estimate comprises an Indicated category of 1.3 Mt lithium carbonate equivalent (“LCE”) (373 Mt @ 669 ppm Li) and an Inferred category of 8.8 Mt LCE (2,454 Mt @ 680 ppm Li), with an effective date of 15 November 2023
The Horizon Lithium Project maiden Mineral Resource estimate comprises an Indicated category of 1.3 Mt LCE (373 Mt @ 669 ppm Li) and an Inferred category of 8.8 Mt LCE (2,454 Mt @ 680 ppm Li), with an effective date of 15 November 2023.
Table 1: Horizon Lithium Project –Mineral Resource Estimate with an effective date 15 November 2023The Horizon and Halo projects neighbor American Lithium Corp.’s (TSX-V Ticker: LI) TLC project (Mineral Resource Estimate of 10.69 million tonnes LCE1) and American Battery Technology Company’s (NASDAQ: ABAT) Tonopah Flats project (Mineral Resource Estimate of 18.63 million tonnes LCE2).
Chariot holds a 24.1% equity interest in Mustang and will have an equivalent indirect exposure to the Horizon and Halo lithium projects, upon repossession of the projects by Mustang’s subsidiaries.

Click here for the full ASX Release
This article includes content from Chariot Corporation, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
CC9:AU
The Conversation (0)
07 February
Chariot Corporation
Largest lithium exploration land holdings in the US
Largest lithium exploration land holdings in the US Keep Reading...
27 March
Second Amendment to Black Mountain Purchase Option
Chariot Corporation (CC9:AU) has announced Second Amendment to Black Mountain Purchase OptionDownload the PDF here. Keep Reading...
26 March
Convertible Note Financing of up to A$2.0 Million
Chariot Corporation (CC9:AU) has announced Convertible Note Financing of up to A$2.0 MillionDownload the PDF here. Keep Reading...
18 February
High-Potential WA Lithium & Gold Tenements Secured
Chariot Corporation (CC9:AU) has announced High-Potential WA Lithium & Gold Tenements SecuredDownload the PDF here. Keep Reading...
31 January
Quarterly Activities/Appendix 5B Cash Flow Report
Chariot Corporation (CC9:AU) has announced Quarterly Activities/Appendix 5B Cash Flow ReportDownload the PDF here. Keep Reading...
26 November 2024
Black Mountain Phase 2 Program has Commenced
Chariot Corporation (CC9:AU) has announced Black Mountain Phase 2 Program has CommencedDownload the PDF here. Keep Reading...
24 October
PMET Releases Lithium-Only Feasibility Study for Shaakichiuwaanaan in Québec
PMET Resources (ASX:PMT, TSX:PMET,OTCQX:PMETF) has completed a lithium-only feasibility study on the CV5 deposit of its Shaakichiuwaanaan lithium project in Northern Québec. The company said the feasibility study confirms the project is a large-scale and long-life operation, with CV5’s probable... Keep Reading...
22 October
Lithium Market Update: Q3 2025 in Review
Volatility punctuated the global lithium market during the third quarter of 2025, with prices, supply/demand dynamics and geopolitics converging to reshape the landscape. After slipping to a four year low at the end of June, benchmark lithium carbonate prices rallied through July to reach an 11... Keep Reading...
22 October
Argentina Lithium & Energy Corp. Announces Initial Mineral Resource Estimate at the Rincon West Lithium Project
TSX Venture Exchange (TSX-V): LITFrankfurt Stock Exchange (FSE): OAY3OTCQX Venture Market: LILIF Argentina Lithium & Energy Corp. (TSX-V: LIT, FSE: OAY3, OTCQX: LILIF), ("Argentina Lithium" or the "Company") is pleased to announce the results of the first Mineral Resource estimate ("MRE") for... Keep Reading...
21 October
Vertical Integration: The New Lithium Supply Chain Dynamic and What it Means for Investors
When the US government announced it would take a 5 percent equity stake in Vancouver-based Lithium Americas (TSX:LAC,NYSE:LAC), the move underscored a seismic shift underway in the lithium industry. This significant federal backing, tied to the company’s massive Thacker Pass project in Nevada... Keep Reading...
17 October
Successful A$4.5M Placement to Accelerate Battery, REE and Solar Panel Recycling Growth
Livium Ltd (ASX: LIT) (“Livium” or the “Company”) is pleased to announce it has received firm commitments from new and existing, institutional and sophisticated investors to raise $4.5m (“Placement”) before costs. HighlightsFirm commitments of A$4.5m received from institutional and sophisticated... Keep Reading...
15 October
7 Biggest Lithium-mining Companies in 2025
For a long time, most of the world's lithium was produced by an oligopoly of US-listed producers. However, the sector has transformed significantly in recent years.Interested investors should cast a wider net to look at global companies — in particular those listed in Australia and China, as... Keep Reading...
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00







