ZhongNuo spends 23.8km2 on Iganna lithium mapping ahead of deal

Fieldwork began at Chariot Resources' Iganna lithium project in Oyo State, where partner-funded mapping has commenced. Hong Kong-based ZhongNuo Energy is executing the geological program independently and covering its own costs. The initiative follows a binding term sheet signed in mid-August involving Chariot, C&D (Hainan), ZhongNuo, and C&C Minerals regarding the potential selection, drilling, and trial mining of one Nigerian lithium project among three options.

ZhongNuo teams will trace exposed pegmatite veins, sample them systematically, assay locations, and record data to investigate mineralisation anomalies. Representatives from C&C Minerals will accompany the fieldwork through the program. The mapping effort targets the full 23.8km2 Iganna licence area over approximately 15 days. This specific phase narrows down which project advances to drilling, a definitive agreement could subsequently unlock at least 1500 million in ZhongNuo-funded drilling costs. C&D is identified as a Fortune 500 company and one of the largest international buyers and traders of lithium.