Lithium Assays Hit Up to 5.96% Li2O at Chariot’s Nigerian Projects
Chariot Resources has confirmed high-grade lithium mineralisation at its Fonlo and Iganna projects in Nigeria, with assays returning up to 5.96% lithium oxide. The results reinforce the potential for near-term production and resource expansion within its Nigerian lithium portfolio.
- Lithium grades from 2.66% to 5.96% Li2O confirmed at Fonlo and Iganna
- Presence of spodumene and lepidolite lithium minerals identified
- Elevated tantalum and cesium suggest potential by-product revenues
- Planned 2,000–4,000 metre diamond drilling campaign to test targets
- Small-scale mining initiatives aimed at near-term revenue generation
High-Grade Lithium Confirmed at Nigerian Projects
Chariot Resources Ltd (ASX – CC9) has announced compelling assay results from rock chip samples collected at its Fonlo and Iganna lithium projects in southwest Nigeria. The assays reveal lithium oxide (Li2O) grades ranging from 2.66% to an impressive 5.96%, confirming the presence of high-grade lithium-bearing pegmatites at surface. These findings validate earlier visual observations of coarse lithium minerals and the historical success of artisanal mining in the region.
Mineralogy and By-Product Potential
Preliminary mineralogical analysis suggests spodumene dominates the lithium mineralisation at Fonlo, while both spodumene and lepidolite contribute at Iganna. Notably, elevated tantalum (up to 0.15% Ta2O5) and cesium levels (with one sample exceeding 2.5% Cs2O) indicate promising potential for by-product revenues, which could enhance project economics. Further specialized assays are underway to precisely quantify cesium content.
Strategic Exploration and Development Plans
Building on these encouraging results, Chariot is preparing a comprehensive exploration program. This includes ongoing surface sampling, detailed geological mapping, geophysical surveys, and a planned diamond drilling campaign of 2,000 to 4,000 metres. The drilling will test the continuity and extent of the pegmatite bodies beneath artisanal workings, aiming to delineate substantial lithium resources.
Near-Term Production via Small-Scale Mining
Alongside exploration, Chariot intends to formalize and scale up small-scale mining operations at Fonlo and Iganna, as well as at other Nigerian projects within its portfolio. Leveraging existing artisanal workings, the company plans modest mechanisation to increase lithium concentrate production rapidly. The high-grade nature of the material suggests it could be shipped directly or after simple processing, enabling early revenue generation without delaying longer-term resource development.
Broader Nigerian Lithium Portfolio and Acquisition Status
Fonlo and Iganna are part of a larger Nigerian lithium portfolio comprising four project clusters across Oyo and Kwara States. Chariot is in the process of acquiring a 66.667% interest in this portfolio, with completion expected in early 2026. The company is also planning initial site visits and sampling at the remaining projects, Saki and Gbugbu, to further assess their potential.
Environmental and Regulatory Considerations
Chariot emphasizes its commitment to conducting exploration and mining activities in compliance with Nigerian regulations and best-practice environmental and social governance standards. The company is engaging with local communities and stakeholders to ensure responsible development of these lithium assets.
Bottom Line?
Chariot’s Nigerian lithium projects are poised for rapid advancement, balancing near-term production with strategic resource growth.
Questions in the middle?
- How will the completion of the Nigerian portfolio acquisition impact project timelines?
- What will the upcoming drilling campaign reveal about the depth and continuity of lithium mineralisation?
- How significant could by-product revenues from tantalum and cesium be to the overall project economics?
