Lithium will 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, Albemarlewill deliver more than 100,000 tonnes of lithium hydroxide over a five-year period to support FordEVs. 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. That’s all substantial news for companies, such as Li-FT Power Ltd. (CSE: LIFT) (OTCQX: LIFFF), Albemarle Corporation (NYSE: ALB), Lithium Americas (NYSE: LAC) (TSX: LAC), American Lithium Corp. (NASDAQ: AMLI) (TSXV: LI), and Piedmont Lithium (NASDAQ: PLL).
Also, remember, according to Li-Bridge, global demand for lithium batteries is expected to jump five-fold by 2030, as noted by Reuters, which added, “Demand for lithium batteries in the United States is expected to grow more than six times and translate into $55 billion per year by the end of the decade.”
Look at Li-FT Power Ltd. (CSE: LIFT) (OTCQX: LIFFF),For Example
Li-FT Power Ltd. reported assays from 5 drill holes completed at the Shorty, and BIG East pegmatites within the Yellowknife Lithium Project (“YLP”) located outside the city of Yellowknife, Northwest Territories (Figure 1). Drilling has intersected significant intervals of spodumene mineralization, with the following highlights:
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.
Drilling and Bulk Sampling Progress Update
Currently, LIFT has reported results from 58 drill holes (10,222 metres). To date, 179 diamond drill holes have been completed (28,376 metres). A total of 8,933 kilograms of rock has been collected from eight pegmatites in saw-cut channels for metallurgical testing (approximately 1,000 kilograms at each pegmatite). Bulk samples have been shipped to SGS Lakefield for preliminary metallurgical testing.
Other related developments from around the markets include:
Albemarle Corporation signed agreements with Caterpillar Inc. to collaborate on solutions to support the full circular battery value chain and sustainable mining operations. The collaboration aims to support Albemarle's efforts to establish Kings Mountain, N.C. as the first-ever zero-emissions lithium mine site in North America. These efforts include utilization of next-generation, battery-powered mining equipment. Caterpillar and Albemarle signed an agreement making Albemarle's North American-produced lithium available for use in Caterpillar battery production. The two companies will also explore opportunities to collaborate on research and development of battery cell technology and recycling techniques.
Lithium Americas, now Lithium Americas (Argentina) Corp. and a new Lithium Americas Corp. jointly announced the completion of the reorganization of Lithium Americas into two independent publicly traded companies, implemented by way of statutory plan of arrangement. “We look forward to seeing these two market-leading companies thrive independently,” said Jonathan Evans, President and CEO of Lithium Americas (NewCo) and former President and CEO of Lithium Americas. “The Separation offers investors two unique and highly focused pure-play lithium companies with world-class assets in our respective regions of operation.”
American Lithium Corp. announced a new lithium discovery from the initial drill hole completed at one of the key discovery targets previously identified from 2021 field work conducted near the Community of Quelcaya. Further holes have been drilled near this discovery with identical geology to the discovery hole and full assays expected shortly. The Quelcaya exploration project comprises 3 areas of mapped surface lithium mineralization located 5.5 to 11 km west of the Company’s Falchani lithium deposit near the village of Quelcaya in Puno, southeastern Peru (see Figure 1 – Quelcaya – Falchani Drill Platform Location Map, below). Quelcaya was the first of three exploration drilling permits submitted by the Company, which was granted by the Peruvian Ministry of Energy and Mines (MINEM) in May 2023. Drilling continues in and around Quelcaya with 6 drill hole platforms planned in total, each with multiple holes.
Piedmont Lithium announced a strategic investment in a large prospective lithium project in Newfoundland, Canada. Piedmont has agreed to pay C$2 million for a 19.9% equity interest in Vinland Lithium Inc., a new entity established with Sokoman Minerals Corp. (40.1%) and Benton Resources Inc. (40.1%). The Company also may earn up to a 62.5% equity interest in Killick Lithium Inc., a wholly-owned subsidiary of Vinland Lithium holding a 100% interest in the Killick Lithium Project, through a staged investment agreement. Piedmont will be entitled to 100% marketing rights and a right of first refusal on 100% offtake rights to any lithium concentrate produced by the Project on a life-of-mine basis at competitive commercial rates.
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