The Black Mountain Project is situated in Natrona County and lies approximately midway between Casper and Riverton, Wyoming and comprises 134 unpatented lode mining claims (Claims).
Chariot assembled the claims package underlying the Black Mountain project through the direct claim staking of public land administered by U.S. Bureau of Land Management supplemented by a series of strategic property acquisitions. As a result, Chariot controls a large, contiguous set of claims in an area with evidence of outcropping spodumene.
The Company staked 89 Claims in January 2022 and subsequently entered into discussions with two parties to further consolidate Chariot’s position in the area. In July 2022, Chariot entered into an agreement with Black Mountain Lithium Corps (BMLC) to acquire 27 claims. In addition, Chariot entered into an agreement with Vesper Resources LLC (Vesper) to acquire two Claims1. These activities, together with the claim staking of an additional 16 Claims in October 2022 at Black Mountain South, resulted in the control of 134 Claims that comprise the Black Mountain Project.
1. Refer to the Prospectus for further details on the Black Mountain acquisitions and consideration paid.