Jan. 23, 2023
Green Shift Commodities Ltd. (TSX-V: GCOM)(OTC: UWEFF) — currently trading around C$0.10 per share — has entered into a definitive agreement to acquire LFP Resources and, with it, a massive underexplored lithium property in Argentina.
The district scale land package — which covers areas of known lithium pegmatite occurrences discovered and sampled in the 1960s by the Argentinian government — spans an incredible 500,000 hectares, which equates to nearly 2,000 square miles or six times the size of Manhattan.
The company expects the acquisition to close later this month.
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Green Shift Commodities CEO Trumbull Fisher — whom you’re about to hear from directly in our exclusive interview — commented via press release.
“We are very pleased to announce GCOM’s entry into the lithium sector where prices have increased dramatically recently due to rising demand for EV batteries. The district-scale land package we are acquiring offers the potential to explore known areas of lithium while, at the same time, secures an entire belt that has yet to be methodically explored…”
GCOM already has a team on the ground in Argentina whereby, once the acquisition closes, will head to the areas of historical exploration to assess past trenching/sampling efforts.
Mr. Fisher added:
“On a recent visit to the project area, I was very encouraged by the ease of access, the proximity to infrastructure and by the high-grade lithium exposed in the pegmatites exposed at surface. Additionally, through the acquisition, we will add a local technical team with tremendous experience exploring for lithium in Argentina.”
Again, the project area is truly massive and includes an additional tens of kilometers of prospective strike.
For example, the La Pintada and Manuel Choique granites — which extend over an area of 12 km X 7 km and were the focus of previous exploration work — contain 19 known pegmatite dykes that returned lithium grades up to 4.76% Li2O1 in historic sampling.
Recent mapping has identified dozens of additional untested potential pegmatite dykes where disseminated lithium mineralization in granites may occur. In other words, there’ll certainly be no shortage of high-priority exploration targets going forward at the project.
Additionally, Green Shift owns 100% of the Berlin uranium, nickel, vanadium, phosphate, and rare earth elements early-stage exploration project in Caldas Province, Colombia.
Recent metallurgical testwork at the project proved efficient in separating uranium, battery commodities, and rare earth elements found onsite. The polymetallic nature of the geology includes a number of elements, including phosphate, that are critical in the EV-driven “battery metals” space and could become a focus in the advancement of the project.
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Green Shift — which has a miniscule market cap well below C$10 million — is well-funded having just raised C$2.3 million via private placement, plus a significant holding of 1.1 million shares of Consolidated Uranium (TSX-V: CUR)(OTC: CURUF) and ~200,000 shares of Labrador Uranium (CSE: LUR)(OTC: LURAF).
Our own Gerardo Del Real of Junior Resource Monthly caught up with Green Shift Commodities CEO Trumbull Fisher to discuss all-things GCOM including the pending Argentinian acquisition. Please enjoy!
Editor, Resource Stock Digest