METHODOLOGY

3.1 Introduction
This methodology presents the systematic procedures adopted to identify, verify, and
assess the companies operating within the newly announced Kaduna Polymetallic
Mineral Province and to evaluate the geological, technical, and economic significance
of the discovery. The approach integrates desk-based geological research, regulatory
review, spatial analysis, mining licence verification, and comparative analysis of
publicly available technical information. Because the Kaduna polymetallic province is
a newly announced mineral discovery, emphasis is placed on the verification of
information released by the Nigerian Geological Survey Agency and the Federal
Ministry of Solid Minerals Development, together with supporting information from
the Mining Cadastre Office and internationally recognized geological references.
The methodology follows internationally accepted mineral exploration and resource
assessment principles consistent with the Committee for Mineral Reserves
International Reporting Standards reporting framework and incorporates elements
commonly employed in mineral prospectivity studies, including geological mapping,
geospatial analysis, regulatory verification, and mineral resource evaluation.

3.2 Research Design

The study employed a descriptive technical research design combined with
documentary analysis and geospatial evaluation. Rather than undertaking primary
field exploration, the research synthesized official government announcements,
geological reports, mining licence information, academic literature, and industry
publications to determine:
 the number of companies publicly confirmed to be operating within the newly
identified polymetallic province;
 the geological characteristics of the discovery;
 the strategic importance of the identified critical minerals; and
 the implications of the discovery for Nigeria's mining sector.
This design is appropriate because commercial exploration and resource delineation
are still in their early stages, and much of the available information is derived from
official government disclosures.
3.3 Data Sources
The study relied exclusively on secondary data obtained from authoritative and
technically credible sources.
Primary Data Sources
 Nigerian Geological Survey Agency (NGSA)
 Federal Ministry of Solid Minerals Development
 AFNIS Summit 2026 technical presentations
 Mining Cadastre Office (MCO)
 Official announcements by Steron Mining Company Limited
Secondary Data Sources
 International Energy Agency (IEA)
 United States Geological Survey (USGS)
 British Geological Survey (BGS)
 Springer geological publications
 Geological Society publications
 Peer-reviewed journals
 Technical conference proceedings
 Mineral economics reports
 Mining industry publications
These sources provide geological, regulatory, and economic information relevant to
the Kaduna polymetallic province.

3.4 Data Collection Procedure

The data collection process consisted of five sequential stages.
Stage 1: Literature Search
Published technical documents relating to:
 polymetallic mineral provinces,
 lithium exploration,
 platinum group metals,
 rare earth elements,
 Nigerian basement geology,
 mining regulations, and
 mineral exploration methodologies
Stage 2: Government Information Verification
Official publications from NGSA and the Ministry of Solid Minerals Development
were examined to identify:
 announcement of the discovery;
 mineral composition;
 exploration history;
 estimated lithium resources;
 participating organizations; and
 government verification statements.
Special attention was given to confirming the identity of the private company
involved in the discovery.
Stage 3: Mining Company Identification
A structured review of mining company records was undertaken by examining:
 Mining Cadastre Office licence information;
 company reports;
 government press releases;
 corporate websites;
 public investment presentations; and
 industry publications.
The objective was to establish which companies have been officially linked to
exploration activities within the Kaduna polymetallic province.
Stage 4: Geological Data Compilation
Available geological information was compiled concerning:
 lithology;
 tectonic setting;
 structural geology;
 pegmatite occurrence;
 hydrothermal alteration;
 mineral associations; and
 regional mineralization.
These datasets were used to explain the geological controls responsible for the
occurrence of critical minerals within Kaduna State.
Stage 5: Comparative Evaluation
The Kaduna discovery was compared with internationally recognized polymetallic
provinces including:
 Bushveld Complex (South Africa)
 Sudbury Basin (Canada)
 Norilsk (Russia)
 Pilbara Pegmatite Province (Australia)
The comparison focused on:
 mineral assemblages;
 geological setting;
 exploration maturity;
 resource potential; and
 economic significance.

3.5 Company Identification Methodology

A systematic verification procedure was adopted to determine the number of
companies operating within the newly announced polymetallic province.
The verification criteria required that each company satisfy at least one of the
following:
 Officially named by NGSA.
 Identified by the Ministry of Solid Minerals Development.
 Holder of exploration or mining rights specifically linked to the discovery
area.
 Publicly acknowledged participant in exploration activities leading to the
discovery.
Using these criteria, only one company—Steron Mining Company Limited—has
been publicly confirmed as directly involved in the exploration leading to the
discovery. Although other companies may hold mineral titles elsewhere in Kaduna
State, no official announcement has yet identified them as operating within the newly
delineated polymetallic province.

3.6 Geological Assessment Methodology

The geological assessment followed internationally accepted mineral exploration
workflows.
Regional Geological Assessment
Evaluation included:
 Basement Complex geology;
 Pan-African tectonics;
 lithostratigraphy;
 structural evolution; and
 mineralization controls.
Structural Analysis
Structural interpretation focused on:
 shear zones;
 regional faults;
 fracture systems;
 fold structures; and
 intrusive contacts.
These structures commonly control hydrothermal mineralization.
Lithological Assessment
Major lithological units evaluated included:
 granites;
 pegmatites;
 migmatites;
 schists;
 quartz veins; and
 ultramafic intrusions.
Mineral Association Analysis
Mineral associations examined included:
 Lithium–Tantalum–Niobium (LCT) pegmatites;
 Nickel–Copper–PGM sulphide systems;
 Gold-bearing quartz veins; and
 Rare earth-bearing pegmatites.

3.7 Spatial Analysis Methodology

Geospatial evaluation involved:
 geological map interpretation;
 satellite imagery review;
 regional mineral occurrence mapping;
 structural lineament interpretation; and
 spatial correlation between known mineral occurrences and the reported
discovery area.
Standard GIS techniques were applied to integrate geological and mineral occurrence
information to assess the regional continuity of mineralized zones.

3.8 Data Validation

Data reliability was ensured through triangulation.
Information was considered valid only when corroborated by multiple independent
sources, including:
 government publications;
 geological agencies;
 scientific literature;
 internationally recognized geological organizations; and
 official company disclosures.
Conflicting information was excluded unless supported by authoritative evidence.

3.9 Data Analysis

The collected data were analysed using descriptive and comparative methods.
The analysis focused on:
 identification of officially confirmed exploration companies;
 classification of mineral commodities;
 evaluation of geological controls;
 assessment of exploration maturity;
 comparison with global polymetallic provinces; and
 appraisal of the economic implications of the discovery.
Qualitative synthesis was employed to integrate geological, regulatory, and economic
findings into a coherent interpretation.

3.10 Methodological Findings

Application of the above methodology indicates that, based on information released
by the NGSA and the Ministry of Solid Minerals Development, one private
company has been publicly confirmed as directly involved in the exploration
leading to the discovery of the Kaduna polymetallic mineral province: Steron
Mining Company Limited.
No official government publication has, to date, identified additional companies as
operating specifically within the newly announced polymetallic province. It is
important to distinguish this from the broader mining landscape in Kaduna State,
where multiple companies may hold exploration licences or mining leases for other
mineral occurrences. Until further licence allocations, exploration partnerships, or
mining leases are formally announced, the number of publicly confirmed companies
operating within the newly identified polymetallic province remains one (1).

3.11 Limitations of the Methodology

The methodology is subject to several limitations:
 The discovery is recent, and detailed technical reports, geological maps,
drilling logs, and resource models have not yet been released publicly.
 Some exploration data remain confidential because of commercial and
licensing considerations.
 Public information may change as additional exploration progresses and new
licences are granted.
 Resource estimates and company participation are subject to future
verification through detailed exploration and reporting under internationally
recognized standards such as the JORC Code or NI 43-101.
Despite these limitations, the methodology provides a structured, transparent, and
evidence-based framework for assessing the current state of knowledge regarding the
Kaduna polymetallic mineral province and the companies officially associated with its
discovery.
RESULTS AND DISCUSSION

4.1 Introduction

This chapter presents the results obtained from the review and analysis of publicly
available geological, regulatory, and technical information concerning the recently
announced Kaduna Polymetallic Mineral Province. The findings are based on official
information released by the Nigerian Geological Survey Agency and the Federal
Ministry of Solid Minerals Development during the AFNIS Summit 2026,
supplemented by geological literature, mining sector reports, and information from
the Nigerian mining regulatory framework. The results evaluate the geological
significance of the discovery, identify the company officially associated with the
exploration, assess the strategic importance of the identified critical minerals, and
discuss the potential implications for Nigeria's mining industry and economic
diversification.

4.2 Geological Characteristics of the Kaduna Polymetallic Province

The available geological information indicates that the Kaduna discovery represents a
large-scale polymetallic mineral province hosted within the Nigerian Basement
Complex, a geological terrane renowned for extensive Pan-African tectonic activity
and associated mineralization. The province contains multiple critical mineral
commodities occurring within a single geological system, suggesting a complex
evolution involving magmatic intrusion, hydrothermal fluid circulation, structural
deformation, and pegmatitic emplacement.

The principal mineral commodities reported from the province include:

Mineral Commodity Industrial Significance Strategic Importance

Rechargeable batteries, EVs, Critical energy-transition

Lithium
grid-scale storage mineral

Platinum Group Hydrogen fuel cells, catalytic High strategic and industrial
Metals (PGMs) converters value

Gold Electronics, finance, jewellery Precious and industrial metal

Nickel Battery cathodes, stainless steel Essential for electric mobility

Power transmission, renewable

Copper Critical electrical conductor
energy infrastructure

Rare Earth Elements Permanent magnets, defence Essential for high-technology

(REEs) systems, wind turbines manufacturing
The coexistence of these commodities within a single mineral province significantly
enhances the economic attractiveness of the discovery by increasing resource
diversity and reducing reliance on a single commodity market.

4.3 Lithium Resource Estimate

One of the most significant outcomes of the exploration programme is the reported
identification of approximately 3.3 million metric tonnes of lithium resources at a
single exploration site. This estimate indicates that the Kaduna province possesses
substantial lithium potential and may become one of Nigeria's most significant
lithium-producing regions, subject to further drilling, resource delineation,
metallurgical testing, and feasibility studies.

Table 4.2 summarizes the reported lithium estimate.

Parameter Reported Value

Estimated Lithium
3.3 million metric tonnes
Resources

Resource Status Preliminary estimate based on exploration

Verification NGSA technical verification

Development Stage Exploration

The reported figure should be regarded as a preliminary estimate until confirmed by

detailed resource estimation conducted in accordance with internationally recognized
reporting standards such as the JORC Code, NI 43-101, or the CRIRSCO
International Reporting Template.

4.4 Identification of Companies Operating within the Discovery Area

A principal objective of this study was to determine the number of companies

officially operating within the newly announced Kaduna polymetallic province.

Following a review of government announcements, regulatory information, and

company disclosures, the results indicate that only one private company has been
publicly identified by the Federal Government as directly involved in the
exploration leading to the discovery.

Table 4.3 Officially Confirmed Company

Company Status Role

Conducted exploration in collaboration with

Steron Mining Officially
NGSA leading to the discovery of the Kaduna
Company Limited Confirmed
polymetallic mineral province.
The investigation found no official evidence identifying additional companies as
operating specifically within the newly delineated polymetallic province at the time of
the announcement. It is important to distinguish this finding from the broader mining
landscape of Kaduna State, where several companies hold exploration licences or
mining leases for other mineral occurrences unrelated to the newly announced
province.

Therefore, the number of publicly confirmed companies directly associated with

the discovery is currently one (1).

4.5 Exploration Verification

The exploration programme was reportedly undertaken through collaboration between

Steron Mining Company Limited and the Nigerian Geological Survey Agency. The
verification process involved geological investigations that identified economically
significant concentrations of lithium and associated critical minerals.

Although detailed technical datasets—including drill logs, geophysical survey results,

geochemical analyses, and three-dimensional geological models—have not yet been
released publicly, the official verification by NGSA provides institutional confidence
in the reported discovery.

Future exploration activities are expected to include:

 Detailed geological mapping.

 Airborne and ground geophysical surveys.
 Geochemical soil and rock sampling.
 Diamond core drilling.
 Mineralogical and petrographic analyses.
 Metallurgical testing.
 Three-dimensional resource modelling.
 Mineral resource estimation under internationally recognized reporting
standards.

These activities will determine the size, geometry, continuity, grade, and economic
viability of the deposits.

4.6 Strategic Importance of the Mineral Assemblage

The results demonstrate that the Kaduna polymetallic province contains a

combination of commodities that are recognized globally as critical minerals. Unlike
single-commodity deposits, polymetallic systems offer greater resilience against
commodity price fluctuations and can support integrated mining and processing
operations.

The identified minerals contribute to several strategic industrial sectors, including:

Sector Key Minerals

Electric Vehicles Lithium, Nickel, Copper

Sector Key Minerals

Renewable Energy Copper, Rare Earth Elements

Battery Manufacturing Lithium, Nickel

Hydrogen Economy Platinum Group Metals

Electronics Gold, Copper, Rare Earth Elements

Defence and Aerospace Rare Earth Elements, PGMs

This diverse mineral assemblage significantly enhances the long-term economic value
of the province.

4.7 Economic Implications

The discovery has important implications for Nigeria's mining sector and national
economy.

The reported mineral inventory suggests that successful development of the Kaduna
province could:

 increase mining's contribution to Gross Domestic Product (GDP);

 reduce dependence on crude oil exports;
 stimulate domestic mineral beneficiation;
 attract foreign direct investment (FDI);
 expand employment opportunities in exploration, mining, and mineral
processing;
 improve export earnings through critical mineral production; and
 strengthen Nigeria's position within global supply chains for clean-energy
technologies.

The Ministry of Solid Minerals Development has estimated that Nigeria's untapped
critical mineral resources may exceed US$700 billion in potential value. While this
figure reflects a broad national estimate rather than the value of the Kaduna discovery
alone, it underscores the strategic importance of expanding systematic exploration and
sustainable mineral development.

4.8 Discussion

The findings indicate that the Kaduna polymetallic discovery represents one of the
most promising critical mineral developments in Nigeria in recent years. The reported
coexistence of lithium, platinum group metals, gold, nickel, copper, and rare earth
elements suggests a geologically favourable environment with the potential to support
long-term exploration and mining activities.

From a regulatory perspective, the available evidence shows that Steron Mining
Company Limited is the only company publicly identified as participating
directly in the exploration programme that led to the discovery. No additional
companies have been officially linked to the newly delineated polymetallic province
as of the date of the government announcement. This does not imply that no other
companies operate elsewhere in Kaduna State; rather, it indicates that no other
operators have been formally associated with this specific discovery.

The findings also highlight the need for further technical investigations before
commercial mining can commence. Resource estimates must be validated through
detailed drilling campaigns, geostatistical modelling, metallurgical testing,
environmental and social impact assessments (ESIAs), and feasibility studies.
Compliance with internationally accepted reporting standards will be essential to
provide confidence to investors and facilitate project financing.

4.9 Summary of Results

The principal findings of the study are summarized below:

Parameter Result

Location of Discovery Kaduna State, Nigeria

Geological Province Nigerian Basement Complex

Deposit Type Polymetallic Mineral Province

Lithium, PGMs, Gold, Nickel, Copper, Rare

Principal Commodities
Earth Elements

Approximately 3.3 million metric tonnes

Reported Lithium Resources
(preliminary estimate)

Official Verification Nigerian Geological Survey Agency (NGSA)

Federal Ministry of Solid Minerals

Government Partner
Development

Publicly Confirmed Exploration

Steron Mining Company Limited
Company

Number of Publicly Confirmed

Companies Operating in the Newly 1
Announced Province

Development Stage Exploration and resource delineation

Detailed exploration, resource estimation

(JORC/NI 43-101), feasibility studies,
Recommended Next Steps
environmental and social impact assessments,
mine planning, and sustainable development