Chariot Minerals Limited, an Australian mining company, has made a significant stride in the global lithium industry with the announcement of a lithium — rich mineral discovery in Nigeria. The company has successfully secured six licences, including four exploration permits and two small-scale mining licences, covering key assets in the Fonlo and Gbugbu projects, as well as interests at the Saki project. This move effectively consolidates Chariot’s control over crucial assets in the region.
Executive Chairman and Managing Director of Chariot, Shanthar Pathmanathan, highlighted the importance of these approvals, noting that they represent the first entry of an Australian Stock Exchange (ASX)-listed lithium company into Nigeria’s high-potential lithium sector. The discovery of lithium pegmatites, which are already producing spodumene for the Chinese market, but remain largely undrilled, is seen as a monumental achievement for both the company and the global lithium sector.
The approvals mark substantial progress in Chariot’s acquisition of a 66.67 percent stake in C&C Minerals, with Continental Lithium Limited retaining the remaining 33.33 percent. This development is a key regulatory milestone that significantly reduces the risk associated with the company’s Nigerian lithium portfolio acquisition.
In addition to the licensing achievements, Chariot has confirmed that four additional licences are awaiting final approval. This includes three at the Saki project and one at the Iganna project, further expanding the company’s exploration prospects in Nigeria.
Independent laboratory analysis conducted by the University of British Columbia has confirmed the presence of high — value spodumene across all six sampled sites from the Fonlo and Iganna projects. The mineral accounted for between 28. 4 percent and 75.
3 percent of crystalline content, significantly bolstering Chariot’s development outlook. Spodumene is a highly commercially viable lithium-bearing mineral, known for its straightforward processing compared to more complex alternatives.
The mineralogical results also revealed lithium oxide grades ranging from 2. 66 percent to 5. 96 percent, reinforcing expectations of high-grade mineralisation.
Elevated caesium values, with pollucite reaching up to 9. 5 percent in one Iganna sample, indicate strong lithium-caesium-tantalum (LCT) pegmatite potential. These findings support Chariot’s plan to advance drill-ready targets and accelerate exploration across its Nigerian portfolio.
The company is now poised to guide upcoming exploration, fieldwork, and potential small — scale mining assessments as it moves toward phased project development in Nigeria.
Source: Africa.businessinsider
Original author: Solomon Ekanem
