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Five of the Best Lithium Stocks for the Second Half of 2023 Major auto companies are in such desperate need for lithium supply, they're committing billions on direct deals with lithium mining companies. Ford Motor is working with Albemarle, for example. General Motors invested $650 million in Lithium America's Thacker Pass mine. All in an effort to avoid falling behind when it comes to electric vehicles. After all, by 2035, General Motors wants all of its auto sales to be electric. We also have to consider that,“Lithium is going to be tough to get and to fully electrify here in the U.S.,” said Eric Norris, president of the Lithium global business unit at Albemarle, as quoted by The New York Times, which added,“As a result, auto executives and consultants are fanning out to mines around the world, most of which have not begun producing.” All of which will be a substantial catalyst for companies such as Lancaster Resources Inc. (CSE: LCR) (OTC: LANRF), Patriot Battery Metals (TSXV: PMET) (OTCQX: PMETF), Q2 Metals (TSXV: QTWO (OTCQB: QUEXF), Surge Battery Metals (TSXV: NILI) (OTC: NILIF) and Ophir Gold Corp. (TSXV: OPHR) (OTCQB: KPZIF).
Look at Lancaster Resources Inc. (CSE: LCR) (OTC: LANRF), For Example
Lancaster Resources Inc. just announced entry into a binding Letter of Intent to acquire 100% of the Trans-Taiga Lithium Project in the Eeyou Istchee James Bay region of Quebec. The Property, hosting several historical pegmatite samples, lies 120 km west of Patriot Battery Metals' ( TSXV: PMET ) Corvette Project, 74 km west of Winsome Resources' ( ASX: WR1 ) Cancet Project, and a few kilometers east of Loyal Lithium's ( ASX: LLI ) Brisk Lithium Project.
Acquisition Highlights
The Trans-Taiga Lithium Project. The Property covers 1,432 hectares and is located along the boundary between La Grande and Opinaca Subprovinces. Subprovince boundaries are often delineated by deep-rooted crustal features filled by late-stage intrusives including pegmatites.
The Property is 120 km west of Patriot Battery Metals' ( TSXV: PMET ) Corvette Project, and roughly 74 km west of Winsome Resources' ( ASX: WRI ) Cancet Project. The Corvette Project is notable for its hard rock lithium project presenting lithium grades up to 5.10% lithium oxide (Li2O). Winsome's Cancet reported grades up to 5.6% Li2O.
In line with the same greenspan belt, the Property is located 106 km east of Ophir Gold Corp.'s ( TSXV: OPHR ) Radis Project and 120 km east-northeast of Q2 Metals ( TSXV: QTWO )'s Mia Lithium Property. Additionally, Loyal Lithium's ( ASX: LLI ) Brisk Project, with its six separate claim blocks, reports that Block 1, located just a few kilo meters west of the Property, holds the greatest lithium potential.
The Lithium District in Eeyou Istchee James Bay. Situated in Quebec, one of Canada's provinces, Eeyou Istchee James Bay is rapidly becoming one of the nation's leading lithium districts, boasting ten advanced projects and multiple early-stage discoveries. The Whabouchi mine is one of the largest lithium deposits worldwide, with a Mineral Resource measuring 36.6 Mt at 1.3% Li2O.
Other related developments from around the markets include:
Patriot Battery Metals announced core assays for the final set of drill holes completed as part of the 2023 winter drill program at its wholly owned Corvette Property, located in the Eeyou Istchee James Bay region of Quebec. The winter phase of the 2023 drill campaign was focused on the CV5 Pegmatite, located approximately 13.5 km south of the regional and all‐weather Trans-Taiga Road and powerline infrastructure. Drill hole CV23-181 and 177 targeted further delineation of the Nova Zone with both returning wide and high-grade intercepts – 108.0 m at 2.44% Li2O, including 37.5 m at 3.58% Li2O or 16.0 m at 4.08% Li2O (CV22-181), and 115.3 m at 1.81% Li2O, including 89.6 m at 2.20% Li2O (CV23‐177). The high-grade Nova Zone has been traced over a strike length of at least 1.1 km – from drill holes CV23-132 to 108 (Figures 1 and 2) and includes multiple drill intersections of 5+ m at 5% Li2O, demonstrating the high-grade tenure of this sub-set of the Corvette discovery.
Q2 Metals announced the mapping/prospecting and rock sampling results of its abridged exploration work program at the Mia Lithium Property located in the Eeyou Istchee James Bay Territory of Quebec. On June 5, 2023, the Company was mandated by the Quebec Ministry of Natural Resources and Forests to pause all exploration related activities and depart from camp due to the ongoing wildfire status of northern Quebec. As a result, the mapping and sampling portion of the field work lasted only two days. Despite the pause to the field work, the Company is encouraged by the results of the work completed and plans to execute an ambitious work program of expedited mapping, sampling and drill-testing as soon as conditions allow.
Surge Battery Metals announced that drilling equipment and crews are being mobilized to begin the second round of drilling at its flagship nevada north lithium project . The current drilling program follows on from the discovery program of 2022 that revealed lithium enrichment in sediments along a strike length of 1,620 meters, with individual intercepts of up to 78m at a weighted average 3245 ppm Li, with values as high as 5950 ppm Li (13.7 – 15.3 m hole N2208), and the highest-grade hole overall (N2207) with 120m grading a weighted average 3943 ppm Li.
Ophir Gold Corp. announced an update on 2023 exploration at the radis lithium property , located in the Eeyou Istchee James Bay, Quebec. The Property is located approximately 70 km east-northeast of Wemindji and proximal to the all-season Billy-Diamond Highway and hydro-power line infrastructure in the region. As discussed below the Company has completed a magnetic and spectrometric survey and review of the preliminary dataset has identified several anomalies for follow up exploration. The Company is pleased to report that a 1,928-line km heliborne high resolution magnetic and spectrometric survey has now been completed over the entire Radis Property. The survey was completed at a tight line spacing of 50 m, with lines-oriented NW-SE, crossing perpendicular to the regional trend of the Yasinski greenstone belt to maximize signal contrast.
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