- Chariot reports lithium grades of up to 5.96% from early sampling in Nigeria.
- Six licences approved as company prepares drilling to define resource size.
- Find supports Nigeria’s push to build a new critical minerals industry.
AUSTRALIAN Chariot Resources Ltd has reported high-grade lithium mineralisation in Nigeria after securing six mining licences, marking an early step in its expansion into West Africa’s growing battery metals sector.
The licences were approved by the Nigerian Mining Cadastre Office and cover projects in Oyo and Kwara states, in the country’s south-west and north-central regions.
The company said early sampling at its Fonlo and Iganna projects confirmed the presence of spodumene, a key lithium-bearing mineral widely used in battery supply chains.
Laboratory results showed lithium oxide grades ranging from 2.66% to 5.96%, which are considered high for early-stage exploration.
According to the U.S. Geological Survey, many hard-rock lithium operations globally report average grades between about 1% and 2% Li₂O, placing Chariot’s early results at the upper end of the range.
“Initial assay results confirm high-grade lithium mineralisation across multiple targets,” the company said in a statement.
Spodumene is preferred in lithium extraction because it has a simpler and well-established processing route compared with other minerals such as lepidolite, which often require more complex and costly treatment, according to mineral processing studies published by ScienceDirect.
Chariot said the Nigerian projects sit within lithium-caesium-tantalum pegmatite systems, which host many of the world’s major hard-rock lithium deposits.
The company added that the presence of pollucite, a caesium-bearing mineral, could increase the strategic value of the projects.
Chariot Resources is a junior exploration company focused on lithium assets in Africa and the United States, with a strategy centred on early-stage discovery and project development.
The firm has built a portfolio of lithium projects but remains at an exploration stage, with no producing assets to date.
The Nigerian projects cover about 254 square kilometres and include areas with a history of artisanal mining, which often signals near-surface mineralisation.
Chariot plans to begin a diamond drilling campaign of between 2,000 and 4,000 metres to test the scale and continuity of the deposits.
The company has not publicly confirmed exact start and end dates for the drilling programme.
The next phase after drilling would typically involve resource estimation, followed by feasibility studies and development planning, in line with standard mining project cycles.
Reports by the Nigerian Geological Survey Agency show challenges such as limited rail networks, unreliable power supply and high logistics costs.
Environmental and social risks are also under scrutiny, particularly in regions with artisanal mining activity.
Mining projects in Nigeria are required to complete environmental impact assessments under federal regulations, though enforcement has been uneven, according to policy documents from the Nigerian Ministry of Mines and Steel Development.
Chariot has not yet published detailed environmental or community engagement plans for the Nigerian projects.
The development comes as Nigeria seeks to expand its solid minerals sector to reduce reliance on oil revenues.
Government policy aims to attract foreign investment into minerals such as lithium, gold and iron ore, positioning the country as a future supplier to global energy transition markets.
Officials from the Ministry of Mines and Steel Development have said lithium is a priority mineral due to rising demand from electric vehicles and energy storage systems.
Global demand for lithium has grown sharply in recent years, driven by the shift to cleaner energy technologies, according to data from the U.S. Geological Survey.
