Chariot Resources Ltd (ASX: CC9) has reported strong assay results from recent rock chip and surface sampling programs at its Fonlo and Iganna lithium projects in southwest Nigeria, confirming the presence of high-grade lithium-bearing pegmatites.
The six rock chip samples, collected in September 2025 and analysed by MSA Labs in Vancouver, returned lithium grades ranging from 2.66 to 5.96 per cent Li₂O.
The results validate earlier visual observations of coarse spodumene and lepidolite mineralisation across both sites and demonstrate the potential for significant lithium-rich pegmatite systems.
Pending confirmation through forthcoming mineralogical analysis, the lithium minerals are believed to be primarily spodumene at Fonlo and a combination of spodumene and lepidolite at Iganna.
In addition to lithium, the assays revealed tantalum values of up to 0.15 per cent Ta₂O₅ — suggesting potential by-product revenue — and elevated cesium levels, including one sample exceeding 2.5 per cent Cs, which is above the detection limit and is currently being re-assayed.
“These results confirm the presence of lithium-caesium-tantalum (LCT) pegmatite systems at both Fonlo and Iganna, substantiating our geologists’ earlier assessments and historical artisanal mining activity in the region,” a Chariot spokesperson said.
Both Fonlo and Iganna feature extensive pegmatite systems that have previously been artisanally mined, generating revenue from hand-sorted lithium concentrate sales, primarily to Chinese buyers.
They form part of Chariot’s broader Nigerian lithium portfolio, comprising four project clusters across Oyo and Kwara States.
As announced on 10 July 2025, Chariot is in the process of acquiring a 66.667 per cent interest in the portfolio.
Earlier fieldwork by Chariot geologists identified large outcropping pegmatites at both projects.
At Fonlo, a near-vertical dyke swarm extends over six kilometres in strike, while at Iganna, multiple shallow-dipping pegmatite sills were mapped.
Coarse-grained spodumene crystals up to 0.5 metres in length were observed at Fonlo, with both spodumene and lepidolite found in Iganna pegmatites.
Following these high-grade assay results, Chariot plans to commence a substantial exploration and development program at Fonlo and Iganna.
The next phase will include detailed mapping, surface sampling, trenching, geophysical surveys, and an initial 2,000 to 4,000 metre diamond drilling campaign aimed at defining the scale of mineralisation and supporting resource modelling.