- Li-FT Power (TSXV:LIFT), a top micro-cap lithium stock, has secured a Type A land use permit from the Mackenzie Valley Land and Water Board for its attractive Cali project in Northwest Territories
- The five-year permit, extendable by two years, allows the company to expand exploration activities in the Cali area
- The Cali property contains a spodumene-bearing pegmatite that could be up to 1,200 m x 60 m x 300 m
- Li-FT Power stock (TSXV:LIFT) has risen by 28,650 per cent since inception in 2020, which is 1,173 times the return of the S&P/TSX Capped Composite Index over the period
Li-FT Power (TSXV:LIFT), a top micro-cap lithium stock, has secured a Type A land use permit from the Mackenzie Valley Land and Water Board for its attractive Cali project in Northwest Territories.
The five-year permit, extendable by two years, allows the company to expand exploration activities in the Cali area, including establishing an exploration camp and fuel caches, conducting diamond and reverse circulation drilling, and building and maintaining winter access roads.
The Cali property is housed by the Little Nahanni Pegmatite Group in the Northwest Territories, near the Yukon border, which contains more than 275 complex rare element pegmatites over an area of 13 kilometres by 2.5 km.
CSEL’s historical mapping on the property features an outcropping of more than 500 metres in strike length with a 300 m outcropping vertical extent, up to 100 m widths, and panels of metasedimentary rock occurring within a spodumene-bearing pegmatite with 60 m of pegmatite dyke material. Float mapping suggests that the lithium-bearing dyke could measure up to 1,200 m in strike length.
Li-FT confirmed historic work during a June 2023 site visit, noting the Cali spodumene pegmatite dyke swarm contains many dykes occurring over a 150 m wide corridor.
Surface exploration initiated in August 2023 seeks to better understand the average grade across the dyke’s exposed strike length to 300 m vertical through rock sampling and mapping. The company will also prospect for other parallel dykes and dyke extensions through detailed soil sampling.
Data from these efforts will go toward a 3D geology model for exploration targeting with a drill program slated for summer 2024.
“I am very pleased with the terms and conditions in the land use permit, which provides Li-FT with the flexibility to expand our exploration program in response to results as we learn more about the area. I am also grateful for the support and feedback we received throughout the permitting process and look forward to continuing to strengthen the collaborative working relationships we have developed with regulatory agencies and local communities in the Cali area,” April Hayward, chief sustainability officer at Li-FT Power, said in a statement.
The news follows excellent grades and the widest drill intersections to date from the Ki pegmatite on the company’s Yellowknife lithium project.
Li-FT Power is a mineral exploration company acquiring, exploring and developing lithium pegmatite projects in Canada.
Li-FT Power stock (TSXV:LIFT) is unchanged trading at C$5.75 per share. The stock has risen by 28,650 per cent since inception in 2020, which is 1,173 times the return of the S&P/TSX Capped Composite Index over the period.
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