Li-FT Power Ltd. (“LIFT” or the “Company“) (CSE: LIFT) (OTCQX: LIFFF) (Frankfurt: WS0) is a mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects located in Canada.
Pegmatite is a coarse-grained intrusive igneous rock formed from crystallized magma below the Earth’s crust. Pegmatite lithium deposits, also known as hard-rock lithium deposits, can contain extractable amounts of several elements, including lithium, tin, tantalum, and niobium.
Today, we’ll look at the Company’s flagship project, the Yellowknife Lithium Project, located in the Northwest Territories. The Yellowknife Lithium Project comprises mineral leases covering most of the lithium pegmatites that make up the Yellowknife Pegmatite Province. In a vein (see how I did that?), the Company announced LIFT’s initial Mineral Resource of 50.4 million tonnes at 1.00% Li2O at the Yellowknife Lithium Project, NWT, Canada.
Investors must pay attention. Salient points:
· 3rd largest resource estimate in Canada; 10th in the western hemisphere
· Exceptional growth potential
· Five undrilled spodumene not included in the maiden resource estimate have excellent potential to expand the resource profile further.
· The maiden resource estimate is only based on ten months and 49,548 m of drilling
· Infrastructure close by rail at Hay River powerlines
· Access to Ports for Asian export
· confirmation of simple lithium mineralogy and that low-cost dense medium separation (“DMS”) is suitable for the spodumene dykes included in the maiden resource estimate. ( see press release dated September 23, 2024)
Francis MacDonald, CEO of LIFT, comments, “The announcement of Li-FT’s first NI 43-101 mineral resource estimate for the Yellowknife Lithium Project marks a significant milestone for both the Company and the Northwest Territories. With an estimated 50.4 million tonnes at a grade of 1.00% Li₂O based only on the initial drilling program, the Yellowknife Lithium Project already ranks among the top 10 largest spodumene projects in the Americas. The majority of the deposits included in the MRE have not yet been constrained by the drilling completed to date and have excellent potential to significantly grow through further drill programs. This resource will be pivotal in advancing the PEA we are targeting for Q2 2025.”
Investors wanting quality Lithium exposure with growth that appears second to none in Canada and the Western Hemisphere need to consider LIFT.
More Great Properties
In addition to the large size and massive potential of the Yellowknife Project, LIFT’s other properties are impressive in their own right. The Rupert Project, a greenfield lithium pegmatite exploration play, is in the James Bay region of Quebec, Canada. It has potential for world-class lithium pegmatite discoveries: a pipeline of targets with initial drilling started in March 2023. Seventeen holes (5,000 metres) are planned for this first drill program, testing for lithium-bearing pegmatites under cover.
Property Size: 141,572 hectares
Next Steps: Diamond drilling at Anomalies A and B during the 2023 field season. Additional surface work to be completed in other areas to advance targets towards diamond drilling in 2024
The Pontax Project is a greenfield lithium pegmatite exploration play located in the James Bay region of Quebec, Canada. It contains the most extensive Li anomaly within Li-FT’s Quebec portfolio and has highway access.
Property Size: 61,520 hectares
Target: Lithium pegmatites covered by glacial sediments
Exploration Stage: Large Li anomaly defined
The Moyenne Project
is a greenfield lithium pegmatite exploration play in the James Bay region of Quebec, Canada. The 100% owned property is accessible by helicopter.
Property Size: 25,145 hectares
Target: Lithium pegmatites covered by glacial sediments
Exploration Stage: Regional till sample is completed; additional surface work required.
Next Steps: Prospecting and geologic mapping in areas of moderate to weak Li and pathfinder element anomalism
Cali Lease
The Cali Lease lies within the Little Nahanni Pegmatite Group in the Northwest Territories, near the Yukon border, and was acquired in 2022 with the Yellowknife project.
The Little Nahanni Pegmatite Group has been noted to have more than 275 complex rare element pegmatites over an area of 13 km by 2.5 km. CSEL also held the Cali pegmatite in the 1970s, which was subsequently acquired during the portfolio acquisition in 1983.
A field visit completed by Li-FT in June 2023 confirms historic work – Cali is a spodumene pegmatite dyke swarm with many dykes occurring over a 150 m wide corridor.
For those who like volatility, the shares had a 52-week trading range of CDN1.26 to CDN8.21. Yowzers.
Daily volume is currently low-ish, but it seems to be perking up, as the share, at CDN2.80, seems to be attracting more attention.
Sponsored by Li-FT Power
Bob Beaty
For over 30 years, Bob Beaty has been explaining concepts and companies to the global investment community. One of the original writers for Jim Cramer’s Thestreet.com, he also wrote for AOL (Can/US), the Globe and Mail, and the Huffington Post. Over that period, he illuminated small-cap companies to investors with wit and pith but mostly opinion and facts. Investing should be fun. Pedantic, staid content is no fun.
Before embarking on his writing career, Bob had a successful international journey in the finance industry. He served as a broker, derivatives product manager, and a Director of London's Credit Suisse subsidiary. His career spanned across major financial hubs including Toronto, Vancouver, and the UK, giving him a unique global perspective. (He is still fondly remembering those English client lunches.)
Other than everything Groucho Marx and George Carlin ever said, Bob lives by a simple credo;
‘Never do anything the person standing in front of you can't understand.’ Hunter S. Thompson.
Let’s go.
