LIFT Intersects 34 m at 1.35% Li2O at the Fi Southwest Pegmatite, Yellowknife Lithium Project, NWT

Rhea-AI Summary

Li-FT Power reports significant intervals of spodumene mineralization in drill holes at Yellowknife Lithium Project

Positive

• Drilling intersected intervals of spodumene mineralization at Fi Southwest, Shorty, and BIG East pegmatites
• YLP0038: 34 m at 1.35% Li2O, including 27 m at 1.53% Li2O (Fi Southwest)
• YLP0036: 12 m at 1.19% Li2O, including 9 m at 1.46% Li2O (Shorty)
• YLP0039: 13 m at 1.05% Li2O and 11 m at 1.28% Li2O (BIG East)
• YLP0045: 12 m at 1.05% Li2O, including 8 m at 1.51% Li2O (BIG East)

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - September 19, 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:

• YLP0038: 34 m at 1.35% Li₂O, including 27 m at 1.53% Li₂O (Fi Southwest)
• YLP0036: 12 m at 1.19% Li₂O, including 9 m at 1.46% Li₂O (Shorty)
• YLP0039: 13 m at 1.05% Li₂O, and (BIG East)
                     11 m at 1.28% Li₂O
  
• YLP0045: 12 m at 1.05% Li₂O, including 8 m at 1.51% Li₂O (BIG East)
           and: 13 m at 0.71% Li₂O, including 4 m at 1.59% Li₂O
           and: 16 m at 0.92% Li₂O, including 13 m at 1.10% Li₂O

Francis MacDonald, CEO of LIFT, comments, "Fi Southwest and Shorty pegmatites continue to produce excellent drill results with demonstrable quantities of spodumene. The surprise for us is that BIG East has more spodumene pegmatite material than expected, based on outcropping surface expression. Although grade is partially diluted by internal sections of wallrock, the overall amount of pegmatite dyke material at BIG East could add more tonnage than expected."

Discussion of Drill Results

Drill hole YLP0036 tested the Shorty pegmatite. 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 into mid-section of the dyke where it splays into three branches with intercepts ranging from 4 metres to 12 metres. The thicker middle dyke intercepted 12 metres of 1.19% Li₂O from 59 metres down the hole with a 9 metre interval from 62 metres averaging 1.46 % Li₂O (Table 1; Figures 2 & 3).

Drill holes YLP0038 and YLP0041 were drilled in the Fi Southwest dyke. Hole YLP0038 intercepted 34 metres of 1.35% Li₂O from 67 metres, including 27 metres of 1.53% Li₂O from 72 metres. Hole YLP0041 drilled at the south end of the dyke intercepted a 31-metre interval of pegmatite from 66 metres, which was essentially barren (Table 1; Figures 4 & 5).

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/8766/181048_698531617475e842_001full.jpg

Drill holes YLP0039 and YLP0045 tested the BIG East dyke swarm which is exposed over 1,300 meters as a 120 metre-wide corridor of parallel-trending dykes. The holes were drilled 50 metres apart under the central section of the dyke swarm to 90 metres below surface. Hole YLP0039 intercepted two dykes, the upper one with 13 metres averaging 1.05 % Li₂O from 66 metres, and the lower one 30 metres averaging 0.87% Li₂O from 92 metres including 11 metres averaging 1.28% Li₂O from 111 metres. Hole YLP0045 is also interpreted to have intercepted two dykes. The intercept in the upper dyke was very similar to that in YLP0039, averaging 1.05% Li₂O over 12 metres from 66 metres, including 8 metres averaging 1.51% Li₂O from 67 metres. The lower dyke is interpreted to have intercepted 33 m of pegmatite with a 4 metre inclusion of metasediments in the middle. The upper section of that dyke averages 13 metres of 0.71% Li₂O from 96 metres, including 4 metres of 1.59% Li₂O from 104 metres; the lower section averages 0.92% Li₂O for 16 metres from 113 metres, including 13 metres of 1.10% Li₂O from 115 metres (Table 1; Figures 6 & 7). Spodumene is the primary lithium mineral constituent of the dyke swarm occurring with varying amounts of quartz, feldspar, and muscovite.

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

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/181048_698531617475e842_002full.jpg

Figure 3 - Cross-section of YLP0036 which intersected three branches of the Shorty dyke, including a 12 metre interval at 1.19% Li2O.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/181048_698531617475e842_003full.jpg

Figure 4 - Plan view showing the surface expression of the Fi Southwest 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/8766/181048_698531617475e842_004full.jpg

Figure 5 - Cross-section of YLP0038 which intersected 34 metres at 1.35% Li2O at the Fi Southwest pegmatite dyke.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/181048_698531617475e842_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/8766/181048_698531617475e842_006full.jpg

Figure 7 - Cross-section of YLP0039 which intersected 13 metres at 1.05% Li2O and 30 m at 0.87% Li2O.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/181048_698531617475e842_007full.jpg

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

Hole No.	From (m)	To (m)	Interval (m)	Li2O %	Dyke
YLP0036	38	42	4	0.86	Shorty
and	59	71	12	1.19
inc.	62	71	9	1.46
and	89	92	3	0.48
YLP0038	67	101	34	1.35	Fi-SW
inc.	72	99	27	1.53
YLP0039	66	79	13	1.05	BIG-E
and	92	122	30	0.87
inc.	92	107	15	0.76
inc.	111	122	11	1.28
YLP0041	66	97	31	0.07	Fi-SW
YLP0045	66	78	12	1.05	BIG-E
inc.	67	75	8	1.51
and	96	109	13	0.71
inc.	104	108	4	1.59
and	113	129	16	0.92
inc.	115	128	13	1.1

 

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

Hole No.	Northing1	Easting1	Elevation (m)	Length (m)	Azimuth	Dip	Dyke
YLP0036	6938143	372860	248.8	120.0	95	45	Shorty
YLP0038	6940782	371324	248.2	120.0	301	44	Fi SW
YLP0039	6933121	346016	208.0	200.0	118	45	BIG East
YLP0041	6940486	371134	247.8	114.0	301	45	Fi SW
YLP0045	6933163	346040	209.4	190.0	119	45	BIG East

 

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.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181048