Chariot Uncovers Massive Lithium Pegmatites in Nigeria: What’s Next?

Confirming Nigeria’s Lithium Potential

Chariot Corporation Limited (ASX, CC9) has taken a significant step forward in its African lithium ambitions with recent site visits confirming the presence of large lithium-caesium-tantalum (LCT) pegmatites at its Fonlo and Iganna projects in southwestern Nigeria. These findings reinforce the geological promise of the Nigerian portfolio, which encompasses four project clusters across Oyo and Kwara States, an area historically known for tin and tantalum mining.

Visual inspections by Chariot’s geological team, alongside Continental Lithium experts, revealed spodumene crystals up to half a meter in length embedded in pegmatite dykes extending over several kilometers. Artisanal mining pits and workings observed on site further attest to the lithium mineralisation’s continuity and commercial potential.

Dual-Track Development Strategy

Subject to the completion of Chariot’s acquisition of a 66.667% stake in C&C Minerals Limited, which holds the Nigerian licences, the company plans to pursue a two-pronged approach. First, it aims to expand existing artisanal mining operations by deploying mechanised equipment to initiate small-scale mining operations (SSMO) in the first half of 2026. This strategy could generate early revenue streams while larger-scale exploration advances.

Simultaneously, Chariot intends to launch a systematic exploration program involving detailed geological mapping, high-resolution geophysical surveys, soil geochemistry, and an initial diamond drilling campaign of 2,000 to 4,000 meters. This program is designed to delineate JORC-compliant mineral resources that could underpin future large-scale mining operations.

Pending Assays and Regulatory Commitments

While visual observations and artisanal mining outputs strongly suggest significant lithium mineralisation, laboratory assay results from verification samples collected during the site visits are awaited in the December quarter of 2025. These assays will be critical to confirming lithium grades and guiding further development.

Chariot and Continental have also emphasised their commitment to responsible mining practices, ensuring all activities comply with Nigerian regulatory frameworks and environmental, social, and governance (ESG) standards. The companies are working closely with local authorities and communities to secure necessary permits and foster positive local impacts.

Looking Ahead

The Nigerian lithium projects represent a compelling addition to Chariot’s global portfolio, which also includes promising lithium assets in the United States and Australia. The upcoming months will be pivotal as assay results emerge, acquisition formalities conclude, and exploration and mining activities ramp up. Investors and industry watchers will be keen to see how these developments translate into tangible resource definitions and commercial outcomes.