LI-FT Power May Have One Of The Most Attractive Lithium Projects In North America

Lithium is and will likely remain a hot commodity. For one, supply will not be able to keep up with demand, as the world goes green. In fact, according to Stellantis CEO Carlos Tavares, there’s not enough lithium to go around. 

Also, automakers are so concerned about supply for EV batteries, they’re racing to secure supply.  For instance, Albemarle will deliver more than 100,000 tonnes of lithium hydroxide over a five-year period to support Ford EVs. General Motors invested $650 million into Lithium Americas’ Thacker Pass mine, where the miner estimates the lithium extracted can support production of up to a million EVs per year. 

Plus, according to a McKinsey report, “The entire lithium-ion (Li-ion) battery chain, from mining through recycling, could grow by over 30 percent annually from 2022 to 2030, when it would reach a value of more than $400 billion…”

And, according to the Boston Consulting Group (BCP), the lithium supply gap is projected to be 24% less than demand. In short, despite some arguments for further lithium price downside, there are far better arguments for upside moving forward.

One of the companies that could benefit from the lithium boom is Li-FT Power Ltd. LIFT LIFFF, whose flagship is the Yellowknife Lithium Project in Northwest Territories, Canada. Reportedly, the Project holds 13 different lithium pegmatite systems that are in large part exposed at surface and large enough to be visible from satellite imagery. 

Even better, the company just reported assays from 5 drill holes completed at the Shorty, and BIG East pegmatites within the Yellowknife Lithium Project. Drilling has intersected significant intervals of spodumene mineralization, with the following highlights:   

• YLP0050: 17 m at 1.28% Li2O, including 6 m at 1.76% Li2O (Shorty)
• YLP0055: 17 m at 1.14% Li2O, including 14 m at 1.36% Li2O (Shorty)
• YLP0052: 15 m at 1.27% Li2O, including 9 m at 1.74% Li2O (BIG East)
• YLP0053: 10 m at 0.76% Li2O, including 5 m at 1.39% Li2O (BIG East)

                       and: 21 m at 1.08% Li2O, including 4 m at 2.09% Li2O

                       and: 8 m at 1.26% Li2O.

Discussion of Drill Results

Shorty Pegmatite: Drill Hole YLP0050 was collared just to the south of the center of the Shorty dyke. It intercepted 17 metres of 1.28% Li2O from 42 metres, including within that interval 8 metres of 1.21% Li2O and 6 metres of 1.76% Li2O. Drill hole YLP0055 was collared 52 metres to the southwest of YLP0050, where it also intercepted 17 metres of pegmatite that assayed 1.14% Li2O from 48 metres, including 14 metres of 1.36% Li2O.

BIG East Pegmatite: Drill hole YLP0052 was collared just southwest of the center of the dyke, where it intercepted 15 metres of 1.27% Li2O from 29 metres, including 9 metes of 1.74% Li2O from 31 metres. Drill hole YLP0053 was collared approximately 180 metres north of YLP0052. YLP0053 intersected a series of four dykes that are interpreted to be either parallel dykes and/or branches off a main dyke separated by screens or inclusions of metasediments. The first intercept is 10 metres of 0.76% Li2O from 71 metres, including 5 metres of 1.39% Li2O from 73 metres, followed by 5 metres of 0.90% Li2O from 96 metres, and then 8 metres of 0.24% Li2O from 103 metres, and finally 21 metres of 1.08% Li2O from 117 metres, including 4 metres of 2.09% Li2O from 118 metres and 8 metres of 1.26% Li2O from 126 metres.

Hole YLP0056 is on in line and at the same azimuth and dip as YLP0053, but 80 metres southeast of YLP0053 and collared within the BIG East dyke system. YLP0056 intersected two dykes with 8 metres of 1.07% Li2O from 21 metres, including 5 metres of 1.54% Li2O from 22 metres, as well as 9 metres of 1.36% Li2O from 58 metres, including 7 metres of 1.61% Li2O from 59 metres.

Spodumene is the primary lithium mineral constituent of the dykes and occurs with varying amounts of quartz, feldspar, and muscovite. All the dykes are in amphibolite-grade Burwash Formation metasediments.

To learn more about Li-FT Power Ltd. LIFT LIFFF, click here. 

This post was authored by an external contributor and does not represent Benzinga's opinions and has not been edited for content. This contains sponsored content and is for informational purposes only and not intended to be investing advice.