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Chariot Corporation Limited (ASX:CC9) (“Chariot” or the “Company”) is pleased to announce that it’s K-feldspar testing program conducted at its Black Mountain hard rock lithium project (“Black Mountain”) has confirmed the moderately to highly fractionated state of the outcropping LCT pegmatites at the project.
HIGHLIGHTS:
- Analysis of the Rb content in K-feldspar crystals collected from outcropping pegmatites at Black Mountain confirms the moderately to highly fractionated state of the outcropping lithium-caesium-tantalum (LCT) pegmatites
- The K-feldspar potassium to rubidium (K:Rb) ratios of less than 30 are concentrated in the southern group of pegmatites, confirming that they remain the most prospective for lithium mineralization and, accordingly, are now the primary targets for future drilling
- The results of this work have demonstrated to the Company that K-feldspar testing can quickly and cost-effectively distinguish fractionated LCT pegmatites prospective for lithium mineralisation from unmineralised pegmatites and, accordingly, will be used at Chariot’s other projects in the U.S.A.
Chariot has identified a fractionation trend within the property, with fractionation increasing towards the south and the presence of moderate-to-highly fractionated LCT pegmatites in the central and southern pegmatite clusters at Black Mountain (“Southern Target Area”).
A pXRF (portable X-ray fluorescence) device was used on 218 potassium-feldspar (“K-feldspar”) samples collected from the outcropping pegmatites at Black Mountain.
Many of these samples also displayed anomalous caesium (Cs) and tantalum (Ta) values, further supporting the existence of LCT pegmatites in the area.
The Company will expand its drilling plans and drill test the Southern Target Area.
Chariot engaged Environmental Resources Management (ERM) to assist with an orientation sampling program at the Black Mountain project to:
1) determine fractionation states of pegmatites by sampling the K-feldspar minerals;
2) identify any fractionation trends (based on K/Rb ratios), in order to define and rank zones for further drill testing; and
3) test for LCT-pegmatite suite elements (Cs, Rb, Ta, and Sn), as further indication of LCT type pegmatites.
The results of this work demonstrate the effectiveness of using K-feldspar testing to distinguish prospective lithium mineralized LCT pegmatites from less fractionated pegmatites. K-feldspar testing has enabled the Company cost-effectively to sharpen the focus of its exploration activities at Black Mountain and will also be used to focus exploration at the Company’s other projects. K-feldspar sampling is currently being conducted at the Copper Mountain and South Pass projects in Wyoming U.S.A.
Figure 1: Black Mountain Leapfrog model showing the mapped pegmatites over the DEM, downhole pegmatite intersections and outcrop K/Rb fractionation data. Oblique view looking northeast.
Fractionation State of the Pegmatites
ERM’s experience and global dataset of K-feldspar K/Rb fractionation data indicates that pegmatites with a K/Rb value of less than 30, have the highest potential to host lithium mineralization (see also Chariot’s ASX announcement dated 19 June 20241). It was determined that the K-feldspar fractionation data from the Black Mountain pegmatites (see Table 1) are consistent with moderately to highly fractionated pegmatites with significant potential for LCT mineralization.
The pXRF analyses of K-feldspar (see Table 1) show elevated content of LCT-pegmatite suite elements (Cs, Rb, Ta, and Sn) and moderate to high fractionation states.
Table 1 Summary results of pXRF data from K-feldspar from the Southern Target Area
Table 2 Summary results of pXRF data from K-feldspar from the Northern Area
The Black Mountain pegmatites located in the project’s Southern Target Area exhibited K/Rb ratios averaging 24 and are associated with high-grade lithium mineralization encountered at surface and in drill holes. This drill data was provided by the Company in its ASX announcement dated 3 May 20242. The data indicates that the sampled pegmatites are all LCT-type.
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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.
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Great Bear Project Delivers Further Outstanding Copper, Gold & Silver Assays
- Latest assay results continue to demonstrate the significant potential of the wider Great Bear area
- High grade precious and base metals assay results from an additional four project areas at Great Bear reinforce the potential for multiple occurrences of metal accumulation within this underexplored district
- These results confirm an additional three IOCG mineralised structures, evidenced by high grade Copper, Gold and Silver assays
- At Coyote, just 5km east of the Phoenix district (Glacier, Cleaver & Rust), an outcropping zone of intense epithermal alteration and veining (440 x 195m) has been discovered on the northeastern rim of the Sparkplug collapsed caldera ring feature, results include:
- At Cougar, an area of intense outcropping IOCG alteration has been identified 3.4km SE of Viper, along the regional scale Contact Lake structural zone. Widespread, pervasive, hematite and goethite alteration can be seen over an area of 1500m N/S and 1100m E/W. A single grab sample result returned 13.5% Cu, 1.14g/t Au, 97.4g/t Ag (F005648). Further sampling of this area was not possible due to weather and time constraints.
- At Viper, initial sampling and mapping has identified an IOCG style phyllic alteration zone that is adjacent to the historical K2 occurrence. High-grade silver was identified over a 75m N/S strike:
- At Payback, 13km south of Phoenix, assays from four massive sulphide rock chip samples returned:
- Remaining assay results from the balance of the Great Bear field campaign expected over the coming weeks
"These results are further examples of the type of exceptional results we are now seeing from the Great Bear Project. As the exploration programme expanded outwards from the central airstrip “camp zone”, the scale of the opportunity we have before us can now be seen. Consistent & numerous high-grade Copper, Gold and Silver occurrences continue to demonstrate immense potential within the broader Great Bear region.
To have such consistently high grade copper and precious metal results, along significantly expanding strike lengths within such a small percentage of the overall area (less than 15 km N/S and 5 km E/W) is truly exciting. We now fully understand for the first time the significance of historical statements regarding Great Bear from the Canadian Mines Department that this area is the most prospective area in Canada to host multiple large IOCG style deposits. Work will now focus on correlating results from the aerial MT survey with known outcropping structures and sample sites to facilitate planning for the second phase of work at Great Bear. Dozens more highly prospective targets identified are still to be sampled due to the significant size of the Company’s 2900sq km’s licence area.
I look forward to continued similar results from the rest of the project areas in coming weeksas well as the highly anticipated results from the Rae Copper, Silver and Gold Project”
Troy Whittaker - Managing Director
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This article includes content from White Cliff Minerals Limited, 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.
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