Assay results of rock chips from the Fonlo and Iganna lithium projects owned by Chariot have been released, revealing that the lithium-bearing pegmatites at both sites boast high-grade potential, with lithium oxide (Li₂O) grades ranging from 2.66% to 5.96%. Initial identification suggests that the lithium mineral at the Fonlo Project is spodumene, while the Iganna Project contains both spodumene and lepidolite, and these findings are pending further verification through subsequent mineralogical analysis.
In addition, notable associated mineral values have been detected at the two projects. The grade of tantalum pentoxide reaches up to 0.15%, which is expected to bring substantial by-product revenues. The cesium content is also at a high level; one sample has a cesium content exceeding 2.5%, which is above the detection limit of the current assay process and is therefore undergoing re-assay.
These assay results confirm the presence of lithium-cesium-tantalum (LCT) pegmatite systems at both Fonlo and Iganna, verifying the previously announced visual observations of coarse-grained lithium minerals and explaining the success of historic artisanal mining activities in these areas. For these two lithium projects, Chariot is formulating a large-scale exploration and development program, including the continued implementation of surface sampling, trenching, detailed mapping and geophysical surveys, as well as the launch of an initial 2,000–4,000-metre diamond drilling campaign.
