LIBERTY ONE LITHIU COM NPV (OTCMKTS:LRTTF) is seeing a nice bump in action this week with a plus 5% bump. The bump is boosted by the news that the lithium pure-play is going to start drilling at its property in the heart of the Lithium Triangle in Argentina. Starting to drill is an exciting prospect for LRTTF. A geophysical survey conducted at Pocitos West in August blew away expectations finding a brine deposit that could extend the length of the 39,000+ acre property and was even deeper than predicted.
“We will start off with a sample hole in the southern segment of the property, drilling rotary only and packer sampling to identify brine and lithium,” CEO Brad Nichol explained in the company press. “We will drill initially to 300 meters, stop to sample, and while awaiting expedited results, we will continue down to find basement or whatever might define a “bottom” to the brine section. We are looking for lithium content above 100 mg/L and if porosities range above 20%, as can be anticipated in a sandy aquifer, the size of the “storage space” within the horizon will be greatly expanded.”
LIBERTY ONE LITHIU COM NPV (OTCMKTS:LRTTF) trumpets itself as a company that is an emerging exploration player focused on the acquisition and development of high grade lithium brine deposits destined for use by global business interests. The Company believes that strategic resource access is the key to a robust energy strategy to protect economic stability worldwide.
Moreover, LRTTF engages in the acquisition, exploration and development of mining properties in Canada and the United States. The company primarily explores for lithium brine deposits. It holds interests in the Paradox North property with 233 placer claims covering 4,480 acres located in the Paradox Basin in Grand County, Utah, as well as an option to earn a 70% interest in the Pocitos West project covering 15,857 hectares located in Salta Province, Argentina.
According to company materials, “Liberty One Lithium Corp. is an emerging exploration company focused on the acquisition and development of high grade lithium brine deposits. The Company believes that strategic global resources are the key to a robust energy strategy to protect economic stability worldwide.”
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LRTTF is able to drill 11 holes in this first round and the company intends to use the additional holes to further analyze the mineral and chemical character of Pocitos West. According to Nichols, the company is also looking into installing a production-size well on site and drilling an adjacent rotary/core hole to examine the aquifer as well as understanding the project’s lithology or rock composition.
Receiving this permit is an important achievement for the company and will certainly make their name ring out in the sector. Already, LRTTF and its team are mobilizing operations with a keen eye on cost-efficiency. It is important to note, no one is more invested than the company’s results and bottom line than Liberty One’s leadership team. Insider activity over the summer showed that executives and directors of the company added to their stakes, with Nichol purchasing 800,000 common shares and Director Patrick Whibley purchasing 250,000 in options, 100,000 in warrants and another 100,000 in common stock. Bottom line, this is a management team that believes in the mission and wants to protect shareholders interests.
The stock is up by more than 40% for the year as investor confidence on the stock remains strong. The shares have support at the $0.63 mark, below that the next level of support is at $0.51 a share.
Earning a current market cap value of $37.51M, LRTTF is a solid pure-play that has been knocking down milestones this year. The stock is up and the company is making hay while the sun shines. We will be keep readers updated along the way. Sign up for continuing coverage on shares of $LRTTF stock, as well as our other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $LRTTF, either long or short, and we have not been compensated for this article.