Demand for lithium is still set to accelerate. All thanks to demand for electric vehicles, and all things green. In fact, according to the International Energy Agency (IEA), the period between 2017 and 2022 saw a “tripling in overall demand for lithium, a 70% jump in demand for cobalt, and a 40% rise in demand for nickel,” as noted by CNBC. Those numbers could push even higher, especially with President Biden saying he wants 50% of all new autos to be electric by 2030. Unfortunately, there’s just one problem. There may not be enough lithium supply to meet the demand of the green energy revolution, which could fuel upside for companies such as LI-FT Power Ltd. (TSXV: 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).
Look at Li-FT Power Ltd. (TSXV: LIFT) (OTCQX: LIFFF), For Example
Li-FT Power Ltd. reported assays from 5 drill holes completed at the BIG East and Fi Southwest 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:
– YLP-0077: 22 m at 1.35% Li2O, (BIG East)
– YLP-0074: 22 m at 0.82% Li2O, (BIG East)
including: 10 m at 1.35% Li2O
– YLP-0108: 15 m at 1.28% Li2O, (BIG East)
and: 14 m at 1.27% Li2O
– YLP-0076: 5 m at 1.38% Li2O, (BIG East)
and: 4 m at 1.04% Li2O
and: 4 m at 1.00% Li2O
and: 3 m at 1.15% Li2O
and: 1 m at 1.33% Li2O
– YLP-0081: 10 m at 0.98% Li2O, (Fi-Southwest)
and: 3 m at 1.20% Li2O
and: 3 m at 1.33% Li2O
Discussion of Results
This week’s drill results are for five holes from two different pegmatite dykes, including four from the BIG East swarm (YLP-0074, 76, 77, 108) and one from Fi Southwest (YLP-0081). A table of composite calculations, some general comments related to this discussion, and a table of collar headers are provided towards the end of this section.
BIG East Pegmatite
The BIG East pegmatite swarm comprises a 35-90 m wide corridor of parallel-trending dykes that dips around 55°-75° degrees west and extends for at least 1,100 m along surface and 200 m downdip.
YLP-0074 was designed to test the BIG East swarm just 50 m from its northern mapped extent and 25 m vertically beneath the surface. Drilling intersected two pegmatite dykes in 33 m of core, with first dyke intercepted over 4 m and the second 22 m but including three 1-2 m wide septa of metasedimentary country rock. Assays from the lower dyke returned 0.82% Li2O over 22 m, including an interval of 1.35% Li2O over 10 m.
YLP-0076 was drilled 600 m south of YLP-0074 to test the BIG East swarm some 550 m from its southern mapped extent and 50 to 100 m vertically beneath the surface. Drilling intersected eight, 2-8 m wide pegmatite dykes that are separated by at least 3 m of country rock and sum up to a total 37 m of pegmatite or approximately 40% of the 90 m interval. Five of these dykes returned assay composites between 1.00-1.38% Li2O over core widths of 1-5 m; one returned 0.55% Li2O over 5 m, and the two narrowest dykes, which bookend this 90 m interval, returned negligible grades.
YLP-0077 was drilled approximately halfway between YLP-0074 and YLP-0076, approximately 300 m from the northern end of the BIG East swarm and tested 150-200 m below the surface. Drilling intersected two dykes over 39 m of drill core, with the upper intercept approximately 4 m wide and the lower dyke 25 m. Assay results for the lower dyke returned a composite of 1.35% Li2O over 22 m whereas the upper dyke returned 1 m of 0.47% Li2O and otherwise negligible results.
YLP-0108 was drilled between YLP-0076 and YLP-0077 to test the BIG East swarm approximately 550 m from its northern mapped extent and 75 m vertically below the surface. Drilling again intersected two dykes over 39 m of drill core, with the upper dyke approximately 14 m wide and the lower one 17 m. Assay results for the upper dyke returned a composite of 1.27% Li2O over 14 m whereas the lower dyke returned 1.28% Li2O over 15 m.
Fi Southwest Pegmatite
The Fi Southwest (SW) pegmatite is one of several dykes occurring within a longer and wider north-northeast striking dyke corridor. The Fi-SW dyke itself is 25-30 m wide, dips 60°-80° to the east-southeast and extends for at least 1,100 m on surface and 200 m downdip.
YLP-0081 was drilled to test the Fi-SW pegmatite 50 m from its known northern end and 150-200 m vertically below the surface. Drilling intersected three, 5-14 m wide, pegmatite dykes over 39 m of core length, for cumulative pegmatite thickness of 22 m (or 56% of this interval). Assay composites from the upper- to lower-most dyke include, respectively, 1.20% Li2O over 3 m, 1.33% Li2O over 3 m, and 0.98% Li2O over 10 m.
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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