Li-FT Power's Lithium Project Could Help Power The Green Energy Boom

Anticipated market trends indicate a continuing acceleration in lithium demand.

According to Morningstar.com, “Rising electric vehicle adoption and the increasing buildout of energy storage systems will keep lithium demand growing to surpass 1 million metric tons in 2024, from 800,000 in 2022, eventually hitting 2.5 million metric tons by 2030. While we see rising supply, we think enough projects will face delays to maintain a market deficit as demand grows.” 

In addition, according to Mining-Technology.com, “There were 45 lithium mines operating globally in 2022, with a further 11 planned to open this year, and an additional seven in 2024, but this will not be enough. Even if more raw lithium is sourced from additional mines, there may be a potential shortage of facilities used to refine the metal to battery-grade materials.”

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 Ki and BIG East pegmatites within the Yellowknife Lithium Project located outside the city of Yellowknife, Northwest Territories. Drilling has intersected significant intervals of spodumene mineralization, with the following highlights:   

Highlights: 

• YLP-0109: 18 m at 1.75% Li2O, (BIG East)
• YLP-0068: 26 m at 1.02% Li2O, (BIG East)

including: 10 m at 1.65% Li2O

including: 5 m at 1.36% Li2O

• YLP-0066: 10 m at 1.40% Li2O, (BIG East)

and: 10 m at 1.28% Li2O

• YLP-0067: 12 m at 1.08% Li2O, (Ki)
• YLP-0069: 10 m at 0.96% Li2O, (Ki) 

Francis MacDonald, CEO of LIFT comments, “We are pleased to see more very high-grade results coming from BIG East. Last week we released holes YLP-0092 which intersected 18 metres at 1.79% Li2O which is located in the southwestern portion of the dyke system. This week’s highlight of 18 metres at 1.75% Li2O in hole YLP-0109 is located in the northeastern portion of the dyke swarm, almost 500 metres away. This shows the potential to have multiple high-grade zones within the BIG East pegmatite system.

Discussion of Results: This week’s drill results are for three holes from the BIG East pegmatite (YLP-0066, 68, 109) and the first two holes from the Ki pegmatite (YLP-0067, 69). A table of composite calculations and some general comments related to this discussion are provided towards the end of this section. 

BIG East: The BIG East pegmatite swarm comprises a 35-80 m wide corridor of parallel-trending dykes that dips around 55°-75° degrees west and extends for at least 1,000 metres along surface and 200 metres downdip. 

YLP-0066 was designed to test the BIG East swarm approximately 100 m from its northern end and 50 vertical metres beneath the surface. Drilling intersected three, 4-14 m wide, pegmatite dykes over 41 m of core length with the lower two returning assay intervals of 1.28% Li2O over 10 m and 1.40% Li2O over 10 m. The upper-most dyke returned negligible results.  

YLP-0109 was collared 50 m south of YLP-0066 to test BIG East pegmatite approximately 150 m from its northern end and 50 vertical metres beneath the surface. Drilling intersected a 19 m wide dyke flanked by 1-4 m wide dykes on both sides, with the thick central dyke returning 1.75% Li2O over 18 m. No significant grades were returned from the thinner flanking dykes.   

YLP-0068 was collared 550 m south of YLP-0109 to test the BIG East swarm approximately 300 m from its southern end and 100 to 150 m vertically beneath the surface. Drilling intersected five pegmatite dykes over 71 m of core length from 85-166 m depth, comprising a 26 m wide central pegmatite flanked by 1-9 m wide dykes on either side. The central dyke returned a wall-to-wall composite of 1.02% Li2O over 26 m that includes subintervals of 1.65% Li2O over 10 m and 1.36% Li2O over 5 m. Results from the four narrower flanking dykes were insignificant. 

Ki Pegmatite: This news release provides the first 2023 drilling results from the Ki pegmatite dyke, which comprises an approximately 20 m thick pegmatite flanked by one or more 1-5 m wide dykes. The main dyke dips 65°-80° to the southwest and extends for at least 600 metres on surface and 100 metres downdip.

YLP-0067 was drilled to test the Ki dyke approximately 225 m from its southern end and 25 vertical metres below the surface. Drilling intersected 19 m of pegmatite from 9 to 28 m core depth in addition to a 1 m wide flanking dyke from 30-31 metres. Assays returned 1.08% Li2O over 12 metres whereas the flanking dyke returned insignificant grades. 

YLP-0069 was collared 50 m northwest of YLP-0067 to test the Ki dyke approximately 275 m from its southern end and 25 m vertically beneath the surface. Drilling intersected 20 m of pegmatite from 6-26 m core depth in addition to a 2 m flanking dyke from 29-31 m. Assays from the main dyke returned 0.96% Li2O over 10 m whereas the flanking dyke returned insignificant grades. 

Drilling Progress Update: Currently, LIFT has reported results from 72 diamond drill holes (12,689 metres). To date, 195 diamond drill holes have been completed (33,184 metres).

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

Image sourced from Shutterstock

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