Chariot Corporation (ASX:CC9) defines lithium drilling targets at Resurgent Project

Chariot Corporation (ASX:CC9) has advanced its United States exploration ambitions with the delineation of 32 high-priority drilling targets at its Resurgent lithium project, located in the McDermitt Caldera on the Nevada–Oregon border.

The development places the company immediately alongside Lithium Americas’ Thacker Pass mine, a globally significant project backed by substantial US government support.

Highlights

• Thirty-two priority drilling targets identified across Resurgent.

• Project located adjacent to Lithium Americas’ Thacker Pass, the largest known lithium deposit in the US.

• US Department of Energy providing a US$2.26 billion loan and taking a 5% equity stake in Thacker Pass.

• Rock chip sampling at Resurgent returned grades of up to 3,865 ppm lithium.

Resurgent sits in a geological setting already proven to host some of the world’s largest lithium claystone deposits.

With Thacker Pass underpinned by an US$2.26 billion Department of Energy loan and a long-term offtake agreement with General Motors, the broader McDermitt Caldera has become the focal point of US critical minerals strategy.

Chariot holds a 79.4 per cent interest in Resurgent through its subsidiary FMS Lithium Corporation, which is currently navigating the permitting process with federal and state regulators.

The company’s initial drill program will adopt a staged approach across three priority areas in the northern section of Resurgent.

Phase one, centred on West Resurgent North, is designed to test whether the neighbouring McDermitt resource, estimated at 21.5 million tonnes of lithium carbonate equivalent (LCE), extends into Chariot Corporation’s ground. Importantly, the program will also provide core samples for preliminary metallurgical testing.

Executive chairman and managing director Shanthar Pathmanathan said the company’s persistence during a period of market downturn had positioned it for the next stage of growth.

“We held our ground through the recent ‘lithium winter’ while many peers disappeared and now Chariot is prepared for the next growth cycle. With the US Government pushing to secure domestic critical minerals, our strategic Resurgent Project, adjacent to Lithium Americas’ Thacker Pass with 32 drilling targets and surface grades of up to 3,865 ppm Li,  positions us for a potentially transformational lithium discovery.”

The Resurgent tenure lies alongside Thacker Pass and the McDermitt deposit, which together host more than 87 million tonnes of lithium carbonate equivalent.

This concentration of resources, backed by direct US federal support, highlights the region’s strategic role in America’s decarbonisation and supply chain independence, with Chariot positioned to align with national investment in domestic lithium supply.

The maiden drilling program has been designed with minimal disturbance in mind, using existing secondary roads and compact pads to reduce earthworks and environmental impact.

This approach reflects a growing emphasis in the industry on balancing resource development with regulatory and community considerations.

Chariot holds projects in Wyoming, Nigeria and Western Australia, but its near-term focus is firmly on Resurgent, where the scale of the geology and supportive US critical minerals policy set the stage for progress.

The definition of drill targets, with permitting underway and phased drilling to follow, marks a material step in the company’s development path as investors look for continuity with adjacent deposits.

Against a backdrop of record government support for domestic lithium production, the company’s position within the McDermitt Caldera offers a platform from which to test for resources in one of the most strategically significant lithium basins globally.

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