The licences obtained by Chariot comprise four exploration licences and two small-scale mining licences. This acquisition includes a 66.667 percent stake in C&C Minerals Limited, with Continental Lithium Limited retaining a 33.333 percent stake. This strategic partnership is expected to bolster Chariot’s position in the burgeoning lithium sector.

Independent analyses of the sampled sites have confirmed a high-value presence of spodumene, a commercially viable lithium-bearing mineral. The results showed that spodumene accounted for between 28.4 percent and 75.3 percent of the crystalline content in the samples, with lithium oxide grades ranging from 2.66 percent to 5.96 percent.

Additionally, elevated caesium values were recorded, with one sample showing pollucite reaching up to 9.5 percent. These findings are crucial as they support Chariot’s plans to advance drill-ready targets and accelerate exploration efforts across its Nigerian portfolio.

Shanthar Pathmanathan, a representative from Chariot, emphasized the importance of these approvals, stating, “These approvals are monumental for the Company and indeed the global lithium sector as they signify the first entry of an ASX-listed lithium company into the high-potential lithium sector in Nigeria.”

The approvals are viewed as a key regulatory milestone that materially de-risks Chariot’s lithium portfolio acquisition in Nigeria. The Nigerian lithium sector is known to host pegmatites that produce spodumene primarily for the Chinese market, making this discovery particularly relevant in the context of global lithium supply chains.

As Chariot moves forward with its exploration plans, the company aims to capitalize on the growing demand for lithium, which is essential for electric vehicle batteries and other technologies. The findings from the exploration activities not only highlight the potential of the Nigerian lithium sector but also position Chariot as a key player in the industry.

Overall, Chariot’s discovery and subsequent actions in Nigeria are set to have significant implications for both the company and the broader lithium market. The developments underscore the increasing importance of lithium as a critical resource in the transition to renewable energy and electric mobility.

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