- As of January 2023, lithium is selling in the spot market at C$95,953.86 per tonne
- Canada is home to about 4 per cent of the world’s known lithium reserves
- Tearlach Resources Ltd. (TSXV:TEA) began the first phase of drilling at its Gabriel Project in Nevada this month.
- Argentina Lithium & Energy (TSXV:LIT) has grown 46 per cent year-to-date
The world is hungry for lithium, and the Canadian industry is establishing itself at the forefront of satiating this appetite.
Most know lithium for powering rechargeable batteries. Since it is lightweight with some of the best energy density, it has become one of the most sought-after metals as everyone has a variety of electronic devices at arm’s length these days. Most electric vehicles use lithium-ion batteries as well.
According to TradingEconomics.com data from January 2023, lithium is selling in the spot market at C$95,953.00 per tonne.
Canada is home to around 4 per cent of the world’s known lithium reserves; let’s see who is cracking into this untapped market ….
Tearlach Resources Ltd. (TSXV:TEA) began the first phase of drilling at its Gabriel Project in Nevada this month.
TonaTec Exploration LLC mobilized the core drill rig for the program, designed to confirm lithium mineralization intersected in holes drilled by Blackrock Silver Corp. (TSXV:BRC) and to complete step-out holes for prospective locations throughout the Gabriel property.
Material from mineralized intervals will be utilized for initial metallurgical testing.
- Accelerated drilling from the collaborative nature of the Joint Venture
- Initial holes utilizing Blackrock Silver’s existing drill pads
- 19-hole core drill
- 3,000 metres of HQ core drilling
- Estimated 2-3 months
- Concurrent metallurgical testing
- Further mapping and targeting for the extended drill program
- Wide pattern to confirm and significantly extend the previously drilled zones
The Gabriel Lithium project has past lithium results comparable to its neighbour, American Lithium Corp. (TSXV:LI). Past lithium values up to 1,217 ppm lithium have been intercepted in drilling, in addition to the continuity of broad zones of mineralization up to 56.4 metres in thickness.
Tearlach has seen a 396 per cent year-to-date gain with a current share price of C$1.25 and a C$140.39 million market cap.
Argentina Lithium & Energy Corp. (TSXV:LIT) is focused on acquiring high-quality lithium projects in Argentina and advancing them toward production to meet the growing global demand from the battery sector.
The company recently reported positive lithium brine values in two holes at its Rincon West Project in Argentina.
Both holes, RW-DDH-005 and RW-DDH-006, extended a known zone of concentrated lithium brines in the west and southwest direction. The holes were completed with diamond drilling to extract core samples of the salar basin formations and recovered brine samples where possible. RW-DDH-005 stopped at 328.4 metres depth in volcanic units. RW-DDH-006 stopped at 329.8 metres depth in a metamorphosed sedimentary unit.
The company stated its most notable value included a 153-metre interval ranging from 329 to 393 milligrams per litre lithium in drill hole RW-DDH-006, the best one recorded at the property to date. The seventh exploration hole is in the final steps to completion, with two additional holes planned. Year-to-date, LIT stock has grown 46 per cent.
Last week, the TSX Venture Exchange released its Venture 50 list comprised of the top 50 from more than 1,713 companies and Critical Elements Lithium Corp. (TSXV:CRE) ranked among the top 10 mining stocks. The Market Herald recently took a deeper look at the company and its Rose Lithium-Tantalum Project in James Bay, Québec. CRE shares have grown an impressive 107.6 per cent since this time last year.
These are just a few stocks worthy of keeping on the radar of resource investors.
The world is growing more bullish on lithium, and with so many promising resource-rich projects in Canada, it is no surprise that the TSX Venture Exchange is full of cyclical companies that deal with the likes of gas, oil, gold, and lithium.