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The Mag-Lift is located in the Sargasso Sea and is normally covered by the Melding. After clearing the area of it (with the help of "Repulsor Alpha + Bravo"), the event can be started by powering up main installation to the front with 1,000 Melded Crystite.
If defense is successful, the Mag-Lift will pull the Darkslip out of the swamp and multiple Loot Pinatas will spawn around the generators.
"Something big has sunk into the swamp at this location. Powering the mag-lift system here could dredge it up long enough to salvage parts from it"