On December 19, Li-FT Energy Ltd. (LIFT) announced that it had signed a definitive settlement with North Arrow Minerals Inc. to accumulate three lithium tasks in Northwest Territories, Canada. On this deal, LIFT will now absolutely personal the DeStaffany, LDG, and Mackay Lithium Tasks. In change, North Arrow will obtain 250,000 widespread shares of LIFT.
The deal additionally consists of the switch of reclamation bonds, guaranteeing accountable environmental practices. Nonetheless, regulatory approvals are pending for the transaction to shut.
Francis MacDonald, CEO and Director of Li-FT Energy, commented,
“The acquisition of North Arrow’s lithium portfolio further positions LIFT as the leading lithium exploration company in the Northwest Territories. The DeStaffany Project is located close to our BET and Echo pegmatites which creates synergies from a logistical standpoint, as well as increases the overall resource base for the eastern sector of the Yellowknife Pegmatite Province. The LDG and Mackay properties give LIFT a foothold in an emerging spodumene district located near the Diavik and Ekati diamond mines and provide long-term upside for the Company. We will continue to seek out accretive acquisitions within the Northwest Territories, especially around our existing resource base.”
Li-FT’s Dedication to Lithium Exploration
Li-FT focuses on buying and growing lithium tasks in Canada, together with its flagship Yellowknife Lithium Undertaking, positioned within the Northwest Territories. Along with this flagship enterprise, LIFT owns three early-stage exploration properties in Quebec, which present robust potential for uncovering buried lithium pegmatites.
The corporate additionally manages the Cali Project within the Northwest Territories positioned inside the Little Nahanni Pegmatite Group.
A MESSAGE FROM Li-FT POWER LTD.
This content material was reviewed and accredited by Li-FT Energy Ltd. and is being disseminated on behalf of CarbonCredits.com.
Lithium, one of the crucial important substances within the manufacturing of batteries, lithium powers a few of our most necessary gadgets. As it’s possible you’ll already know, it is going to even be one of many hottest assets within the coming decade. And one of many fastest-developing North American lithium juniors is Li-FT Energy Ltd (TXSV: LIFT | OTCQX: LIFFF | FRA: WS0).
Shifting on, let’s deep dive into these 3 lithium tasks acquired by LIFT POWER.
1. The DeStaffany Lithium Undertaking
The DeStaffany lithium property spans 1,843 hectares alongside the north-central shore of Nice Slave Lake within the Northwest Territories. It lies simply 18 kilometers northeast of the Nechalacho mine and 115 kilometers east of Yellowknife.
The property hosts two vital pegmatites—Moose 1 and Moose 2—wealthy in lithium, tantalum, and niobium. Whereas these pegmatites had been explored within the Forties for tantalum and niobium, their lithium potential stays largely unexplored. Current discoveries of extra pegmatites by North Arrow spotlight additional alternatives on the property.
The Moose pegmatites are positioned inside simply 1 kilometer from Nice Slave Lake. This property advantages from accessibility through Yellowknife and Hay River all year long. LIFT plans to advance the venture by means of mapping, sampling, and prospecting. The following section will concentrate on making ready for preliminary drilling to evaluate the spodumene pegmatites additional.
Moose 1 Pegmatite
The Moose 1 pegmatite stretches 370 meters, with widths starting from 4.5 to six meters and a most of 11 meters. Though drilling has by no means been performed, historic channel sampling in 2009 revealed spodumene mineralization with lithium ranges of 1.5% Li2O over 7.5 meters.
Moose 2 Pegmatite
The mining potential of Moose 2 is promising. It has been mapped over a 450-meter strike size and measures as much as 30 meters vast. Bulk sampling within the Forties and Nineteen Fifties centered on tantalum and niobium, producing concentrates, however its lithium content material stays untapped. Spodumene mineralization is widespread, with lithium grades of as much as 1.98% Li2O recognized alongside a 250-meter stretch.
The DeStaffany Lithium Undertaking has been blessed with plentiful assets and has a strategic location. These benefits contribute considerably to LIFT’s rising portfolio.
2. The LDG Undertaking
The LDG Undertaking, protecting 8,600 hectares is positioned close to Rio Tinto’s Diavik diamond mine. Early exploration has recognized ten spodumene pegmatites, with two having outcropping dimensions as much as 20 meters vast and 400 meters lengthy. The till-covered terrain presents favorable situations for locating buried lithium deposits.
3. The Mackay Undertaking
The Mackay Undertaking, spanning 8,661 hectares, lies south of the Diavik diamond mine. Two spodumene-rich areas have been recognized. The MK1 web site options pegmatite dykes with lithium grades of as much as 3.74% Li2O from seize samples. In the meantime, the MK3 web site features a 130-meter pegmatite publicity with grades reaching 5.25% Li2O. These findings spotlight the excessive lithium potential of the area.
Skilled Oversight
The lithium miner considerably highlighted that every one technical particulars on this replace had been reviewed by Dr. Ron Voordouw, a Certified Individual below NI 43-101 requirements. This ensures that the data meets absolute skilled and regulatory requirements.
North Arrow Driving Exploration Success with International Experience
Primarily based in Vancouver, BC, North Arrow Minerals is an exploration firm primarily centered on advancing the Kraaipan Gold Undertaking in Botswana. It additionally explores the diamond potential within the Naujaat (NU), Pikoo (SK), and Loki (NWT) tasks.
The corporate’s management crew, together with its administration, board of administrators, and advisors, brings in depth and confirmed experience in world exploration and mining. Kenneth Armstrong, P.Geo. (NWT/NU, ON), serves as North Arrow’s President and CEO, overseeing exploration applications. He’s a Certified Individual below NI 43-101 and ensures all tasks adhere to business requirements.
He expressed his opinion on this deal as effectively, noting,
“We are pleased to proceed with this transaction as it provides North Arrow with exposure to the continued evaluation of these NWT lithium properties as well as Li-FT’s advanced Yellowknife Lithium Project while allowing our team to focus on exploration of the Kraaipan Gold Project in Botswana, where geophysical surveys, geochemical baseline analyses, and target evaluation are currently underway.”
With these strategic strikes, Li-FT strengthens its place in Canada’s rising lithium marketpaving the way in which for sustainable power options.
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