Li-FT Quadruples Cali Property Through Staking, Boosts Lithium Prospects
DISCLAIMER: This content was reviewed and approved by Li-FT Power Ltd. and is being disseminated on behalf of CarbonCredits.com.
Li-FT Power Ltd. (LIFT) has quadrupled its land position at the Cali Project in the Northwest Territories, staking an additional 9,681 hectares. This expansion comes after recent amendments to the Sahtú Land Use Plan, allowing LIFT to secure new claims in the area, thereby boosting the project’s overall lithium potential.
New Claims with Spodumene Pegmatites
LIFT’s newly staked land includes outcropping spodumene pegmatites, which extend the Cali dyke swarm.
CEO Francis MacDonald highlighted,
“Acquiring new areas through staking is the most cost-effective way to increase a company’s land position. The newly staked ground has outcropping spodumene deposits that are continuations of our existing deposits and increase the overall size potential of the Cali Project”.
source: LiFT – https://carboncredits.com/liftpower-lift/
Figure 1: Location of LIFT’s Cali Lithium Project (CLP). The CLP is located in the Mackenzie Mountains along the Northwest Territories–Yukon border. The area is accessible by road and is located ~850 kilometers from rail in Fort Nelson, British Columbia.
source: LiFT
Figure 2 – Location of the newly staked claims to the northwest of LIFT’s existing outcropping lithium pegmatites on the Cali Project.
MUST READ: Global Lithium and Battery Trends: Top Stories You Need to Know!
Key Acquisition Update
LIFT also announced the termination of its Shorty West Lithium mineral claim agreement with Infinity Stone Ventures Corp, signed on July 17, 2024. Ownership of the claim was transferred to an independent entity, with whom LIFT has since entered a new purchase agreement. The deal, pending TSX approval, involves the issuance of 12,000 common shares, with no finder’s fees involved.
The company has granted 7,544 DSUs to independent directors instead of cash payments. The DSUs, valued at $2.65 per unit, will vest in August 2025. Each unit entitles the holder to one common share, according to LIFT’s Share Incentive Plan.
LIFT’s 2023 Exploration Uncovers Massive Lithium Potential
The lithium miner made major strides in 2023 at its Cali Project in the Little Nahanni Pegmatite Group, home to over 275 rare-element pegmatites. Originally held by CSEL in the 1970s and acquired by LIFT in 1983, the Cali pegmatite remains a critical focus.
A June 2023 field visit confirmed the site’s spodumene pegmatite dyke swarm, concentrated within a 150-meter-wide corridor. By August 2023, LIFT began surface exploration to assess lithium grades across the 300-meter vertical strike and prospect for new dykes.
The summer 2023 exploration, including soil sampling, mapping, and rock sampling, revealed a larger-than-expected dyke system. Out of 163 samples, 124 returned lithium grades above 1.0% Li2O. Subsequently, LIFT started gearing up for drilling to further explore the project’s lithium potential after securing the Land Use Permit.
Li-FT’s Expanding Lithium Footprint Across Canada
Li-FT, a mineral exploration company, is advancing five key projects; all located in the extremely safe and friendly mining jurisdiction of Canada. Their flagship Yellowknife Lithium Project, 100% owned, is located near the capital city in the Northwest Territories.
The company is dedicated to acquiring, exploring, and developing lithium-rich pegmatite deposits. Beyond Yellowknife, Li-FT also manages three early-stage exploration sites in Quebec with strong potential for lithium discovery, along with the Cali Project in the Little Nahanni Pegmatite Group of the Northwest Territories.
All these projects have strong potential for lithium market strategic value and growth.
MUST READ: The Fastest Developing North American Lithium Junior
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