LIFT Intersects 14 m at 1.24% Li2O at the BIG East Pegmatite, Yellowknife Lithium Project, NWT

Rhea-AI Summary

Li-FT Power reports significant intervals of spodumene mineralization in drill holes at the Yellowknife Lithium Project. Highlights include YLP0037 with 33m at 0.71% Li2O, YLP0040 with 8m at 1.26% Li2O, YLP0043 with 13.67m at 1.22% Li2O, and YLP0047 with 16m at 0.94% Li2O. Positive results may positively affect stock price.

Positive

• Li-FT Power reports significant intervals of spodumene mineralization in drill holes at the Yellowknife Lithium Project. Positive results may positively affect stock price.

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - September 26, 2023) - Li-FT Power Ltd. (CSE: LIFT) (OTCQX: LIFFF) (FSE: WS0) ("LIFT" or the "Company") is pleased to report assays from 5 drill holes completed at the Fi Southwest, Shorty, and BIG East pegmatites within the Yellowknife Lithium Project ("YLP") located outside the city of Yellowknife, Northwest Territories (Figure 1). Drilling has intersected significant intervals of spodumene mineralization, with the following highlights:

Highlights:

• YLP0037: 33 m at 0.71% Li₂O, including 13 m at 1.13% Li₂O (Fi Southwest)
• YLP0040: 8 m at 1.26% Li₂O, (Shorty)
• YLP0043: 13.67 m at 1.22% Li₂O, including 7 m at 1.64% Li₂O and (BIG East)
           and: 11 m at 0.84% Li₂O
           and: 14 m at 1.24% Li₂O.
• YLP0047: 16 m at 0.94% Li₂O, including 12 m at 1.15% Li₂O (Fi Southwest)

Discussion of Drill Results

Drill hole YLP0037 intercepted 33 metres of 0.71% Li₂O of the Fi Southwest pegmatite from 55 metres. Within that interval from 60 metres there is 13 metres that averages 1.13% Li₂O. The pegmatite is a moderately-dipping dyke that trends for over 800 metres on surface with an average width of 25 metres. The hole was drilled towards the south end of the dyke. A narrow, barren pegmatite dyke was also intercepted from 99 metres to 108 metres. (Table 1; Figures 2 & 3). Drill hole YLP0046 did not intercept pegmatite demonstrating the southern limit of the dyke. On the other hand, drill hole YLP0047 that was collared near the north end of the dyke intercepted 16 metres of 0.94% Li₂O from 64 metres, including 12 metres of 1.12% Li₂O from 67 metres.

Drill hole YLP0040 was drilled in the mid-section of the Shorty dyke where it intercepted 8 metres of 1.26% Li₂O from 157 metres (Table 1; Figures 4 & 5).

Drill hole YLP0043 was drilled in the southern section of the BIG-East dyke complex, intersecting three pegmatite dykes. The hole collared in pegmatite at 1.33 metres intersecting 13.67 metres of 1.22% Li₂O, including 7 metres of 1.64% Li₂O from 7 metres. Further down the hole 11 metres of 0.84% Li₂O was intercepted from 26 metres. The last dyke had an intercept of 14 metres of 1.24% Li2O from 42 metres (Table 1; Figures 6 & 7).

Spodumene is the primary lithium mineral constituent of the dykes and occurs with varying amounts of quartz, feldspar, and muscovite.

Figure 1 - Location of LIFT's Yellowknife Lithium Project. Drilling is focused on the Road Access Group of pegmatites which are located to the east of the city of Yellowknife along a government-maintained paved highway, as well as the Echo target in the Further Afield Group.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/181905_804723c754b77840_001full.jpg

Table 1 - Assay highlights for drill holes reported in this press release.

Hole No.	From (m)	To (m)	Interval (m)	Li2O %	Dyke
YLP0037	55	88	33	0.71	Fi-SW
inc.	60	73	13	1.13
YLP0040	157	165	8	1.26	Shorty
YLP0043	1.33	15	13.67	1.22	BIG-E
Inc.	7	14	7	1.64
and	26	37	11	0.84
and	42	56	14	1.24
YLP0046	No pegmatite intercepted				Fi-SW
YLP0047	64	80	16	0.94	Fi-SW
inc.	67	79	12	1.15

 

Figure 2 - Plan view showing the surface expression of the Fi SW pegmatite with diamond drill hole reported in this press release.

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https://images.newsfilecorp.com/files/8766/181905_804723c754b77840_002full.jpg

Figure 3 - Cross-section of YLP0037 which intersected the Fi SW dyke with a 33 metre interval of 0.71% Li₂O.

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https://images.newsfilecorp.com/files/8766/181905_804723c754b77840_003full.jpg

Figure 4 - Plan view showing the surface expression of the Shorty pegmatite with diamond drill holes reported in this press release.

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https://images.newsfilecorp.com/files/8766/181905_804723c754b77840_004full.jpg

Figure 5 - Cross-section of YLP0040 which intersected 8 metres at 1.26% Li₂O in the Shorty pegmatite dyke.

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https://images.newsfilecorp.com/files/8766/181905_804723c754b77840_005full.jpg

Figure 6 - Plan view showing the surface expression of the BIG East pegmatite with diamond drill holes reported in this press release.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/181905_804723c754b77840_006full.jpg

Figure 7 - Cross-section of YLP0043 which intersected 16 metres at 0.94% Li₂O including 12 m at 1.15% Li₂O.

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https://images.newsfilecorp.com/files/8766/181905_804723c754b77840_007full.jpg

Table 2 - Drill collars table of reported drill holes in this press release

Hole No.	Easting1	Northing1	Elevation (m)	Length (m)	Azimuth	Dip	Dyke
YLP0037	371,150	6,940,539	248.2	123.0	300	44	Fi-SW
YLP0040	372,773	6,938,141	248.5	201.0	126	58	Shorty
YLP0043	346,012	6,932,947	211.3	80.0	122	46	BIG East
YLP0046	371,103	6,940,275	250.9	245	303	50	Fi SW
YLP0047	371,442	6,940,989	249.0	102.0	297	44	Fi-SW

 

¹UTM NAD83 zone 12

QA/QC and Core Sampling Protocols

All drill core samples were collected under the supervision of LIFT employees and contractors. Drill core was transported from the drill platform to the logging facility where it was logged, photographed, and split by diamond saw prior to being sampled. Samples were then bagged, and blanks and certified reference materials were inserted at regular intervals. Field duplicates consisting of quarter-cut core samples were also included in the sample runs. Groups of samples were placed in large bags, sealed with numbered tags in order to maintain a chain-of-custody, and transported from LIFT's core logging facility to ALS Labs ("ALS") laboratory in Yellowknife, Northwest Territories.

Sample preparation and analytical work for this drill program were carried out by ALS. Samples were prepared for analysis according to ALS method CRU31: individual samples were crushed to 70% passing through 2 mm (10 mesh) screen; a 1,000 gram sub-sample was riffle split (SPL-21) and then pulverized (PUL-32) such that 85% passed through 75 micron (200 mesh) screen. A 0.2 gram sub-sample of the pulverized material was then dissolved in a sodium peroxide solution and analysed for lithium according to ALS method ME-ICP82b. Another 0.2 gram sub-sample of the pulverized material was analysed for 53 elements according to ALS method ME-MS89L. All results passed the QA/QC screening at the lab, all inserted standards and blanks returned results that were within acceptable limits.

Qualified Person

The disclosure in this news release of scientific and technical information regarding LIFT's mineral properties has been reviewed and approved by Carl Verley, P.Geo., Vice-President, Exploration of Li-FT Power and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101).

About LIFT

LIFT is a mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects located in Canada. The Company's flagship project is the Yellowknife Lithium Project located in Northwest Territories, Canada. LIFT also holds three early-stage exploration properties in Quebec, Canada with excellent potential for the discovery of buried lithium pegmatites, as well as the Cali Project in Northwest Territories within the Little Nahanni Pegmatite Group.

For further information, please contact:

Francis MacDonald
Chief Executive Officer
Tel: + 1.604.609.6185
Email: info@li-ft.com
Website: www.li-ft.com

Cautionary Statement Regarding Forward-Looking Information

Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release.

Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest annual information form filed on March 30, 2023, which is available under the Company's SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release.

Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181905