Chariot Corporation Limited (ASX: CC9) has confirmed the presence of extensive lithium-bearing pegmatites at its Fonlo and Iganna projects in southwest Nigeria following recent site visits.
The visits verified large-scale, drill-ready pegmatite systems across both project areas, reinforcing the geological potential of Chariot’s Nigerian lithium portfolio, which comprises four hard-rock lithium clusters across Oyo and Kwara States.
At the Fonlo project, artisanal workings extend for approximately six kilometres along strike.
The main pit features a composite vertical dyke across a 40‑metre-wide zone, with branching dykes and a central structure between 10 and 20 metres in width containing spodumene crystals up to half a metre long observed in situ.
At Iganna, Chariot’s geological team identified multiple shallow-dipping pegmatite sills, including a near-surface LCT (lithium‑caesium‑tantalum) pegmatite averaging five to 10 metres in thickness and extending for several hundred metres along strike.
Active artisanal workings were also observed across the project area.
Chariot and its Nigerian partner, Continental Lithium, expect to initiate small-scale mechanised mining operations during the first half of 2026, targeting near-term revenue opportunities.
This will coincide with systematic exploration programs involving high-resolution magnetics, soil sampling, auger drilling and trenching, followed by an initial 2,000–4,000 metre diamond drilling campaign on high-priority targets.
The field team included Chariot’s Executive Chairman and Managing Director Shanthar Pathmanathan, Non-Executive Director Brendan Borg, Consultant Geologist Dr Edward Max Baker, and Continental Lithium’s Chief Geologist David Kwarteng.
The geologists conducted site inspections, collected surface samples for grade verification, and engaged with local stakeholders.
While site conditions prevented visits to the Saki and Gbugbu projects, Chariot confirmed plans to assess those sites in the near future.
