Chariot Resources (ASX:CC9) expandsresurgent lithium footprint in McDermitt Caldera

Chariot Resources has materially expanded its strategic footprint in the McDermitt Caldera through its 79.4%-owned U.S. subsidiary, FMS Lithium Corporation.

The company has staked 573 additional mining claims at Resurgent East, increasing its interest in the Resurgent Project across the Nevada–Oregon border and reinforcing its position within a lithium district moving from exploration toward active production.

Highlights

• FMS Lithium Corporation stakes 573 additional claims at Resurgent East, nearly doubling interest to 1,170 claims
• Expansion follows disciplined reduction of claims during 2023–2025 lithium market downturn to preserve capital while retaining core exposure
• Additional claims strengthen eastern McDermitt Caldera position, adjacent to Lithium Americas’ Thacker Pass development and Jindalee’s McDermitt project
• Resurgent hosts 32 high-priority lithium drilling targets with surface sampling up to 3,865 ppm Li
• Expansion supports permitting, maiden drilling program, and strategic evaluation of Resurgent

Resurgent is a claystone-hosted lithium project located immediately north-east of Thacker Pass and adjacent to the McDermitt deposit, situating Chariot within a high-potential lithium district.

During the 2023–2025 lithium downturn, the company relinquished non-core claims to conserve capital while maintaining exposure to the core Resurgent opportunity.

The staking of 573 additional claims, subject to county and Bureau of Land Management filings, restores approximately 81% of Chariot’s earlier 1,450-claim position and strengthens tenure control on the eastern side of the caldera.

The district is experiencing rapid development, with Thacker Pass currently under construction, supported by a US$2.23 billion loan from the U.S. Department of Energy and strategic investments from General Motors and Orion, with GM holding a 38% interest in the joint venture.

Jindalee Lithium’s McDermitt project on the northern flank further demonstrates the scale and potential of the caldera, with expanding claims enhancing Chariot’s lithium resource potential and positioning the company strategically ahead of potential partnerships and funding discussions.

FMS will manage the permitting process and the planned minimal-disturbance maiden drilling program at Resurgent, with the expanded claims integrated into Chariot’s exploration model and GIS datasets to support internal planning and strategic evaluation aimed at maximising shareholder value.

No new exploration results are reported in this announcement, with the company focused on permitting and preparing the Resurgent program for execution.

The expanded Resurgent claims package strengthens Chariot’s position in a district of growing lithium production and U.S. strategic importance.

With tenure consolidation complete, the company is positioned to participate in near-term development activity and engage with potential partners and financiers, reinforcing its role as a significant participant in claystone-hosted lithium in North America.

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