LIFT Prepares for Initial Diamond Drill Program at the 25 km Long Spodumene Anomaly at the Pontax Project, Quebec
Li-FT Power (LIFFF) has announced significant exploration results from its Pontax Lithium Project in Quebec's James Bay region. The company's 2023-2024 till sampling program, comprising 336 samples, has identified a substantial 25 by 10 km area with high spodumene grain counts in glacial sediments.
The project, located 300 km north of Matagami, includes both 100% owned claims and options from Harfang Exploration The company plans to initiate its maiden diamond drill program in April 2025, targeting three sizable areas within the anomaly. The 5,000-meter drilling campaign will focus on five drill fences across Corridors A, B, and C, with holes planned to a maximum vertical depth of 100 meters.
The exploration program revealed beryl-apatite-garnet bearing dykes with high Li, Cs, Ta, and Rb concentrations, considered promising indicators for nearby spodumene dykes. The company has also granted 10,543 Deferred Share Units to independent directors and terminated its Thompson Lundmark Property option agreement.
Li-FT Power (LIFFF) ha annunciato risultati significativi dell'esplorazione dal suo Progetto Litio Pontax nella regione di James Bay in Quebec. Il programma di campionamento del till 2023-2024 dell'azienda, composto da 336 campioni, ha identificato una zona sostanziale di 25 per 10 km con elevati conteggi di grani di spodumene nei sedimenti glaciali.
Il progetto, situato a 300 km a nord di Matagami, include sia concessioni di proprietà al 100% sia opzioni da Harfang Exploration. L'azienda prevede di avviare il suo primo programma di perforazione con diamante nell'aprile 2025, mirando a tre aree significative all'interno dell'anomalia. La campagna di perforazione di 5.000 metri si concentrerà su cinque linee di perforazione attraverso i Corridoi A, B e C, con fori pianificati fino a una profondità verticale massima di 100 metri.
Il programma di esplorazione ha rivelato dykes contenenti berillo-apatite-granato con alte concentrazioni di Li, Cs, Ta e Rb, considerati indicatori promettenti per dykes di spodumene nelle vicinanze. L'azienda ha anche concesso 10.543 Unità di Azioni Differite a direttori indipendenti e ha terminato il suo accordo di opzione sulla proprietà Thompson Lundmark.
Li-FT Power (LIFFF) ha anunciado resultados significativos de exploración de su Proyecto de Litio Pontax en la región de James Bay en Quebec. El programa de muestreo de till 2023-2024 de la compañía, que comprende 336 muestras, ha identificado una área sustancial de 25 por 10 km con altos conteos de granos de espodumena en sedimentos glaciares.
El proyecto, ubicado a 300 km al norte de Matagami, incluye tanto reclamos de propiedad al 100% como opciones de Harfang Exploration. La compañía planea iniciar su primer programa de perforación con diamante en abril de 2025, apuntando a tres áreas significativas dentro de la anomalía. La campaña de perforación de 5,000 metros se centrará en cinco cercas de perforación a través de los Corredores A, B y C, con agujeros planificados hasta una profundidad vertical máxima de 100 metros.
El programa de exploración reveló dikes que contienen berilo-apatita-granate con altas concentraciones de Li, Cs, Ta y Rb, considerados indicadores prometedores para dikes de espodumena cercanos. La compañía también ha otorgado 10,543 Unidades de Acciones Diferidas a directores independientes y ha terminado su acuerdo de opción sobre la propiedad Thompson Lundmark.
Li-FT Power (LIFFF)는 퀘벡의 제임스 베이 지역에 있는 포탱크 리튬 프로젝트의 중요한 탐사 결과를 발표했습니다. 회사의 2023-2024 틸 샘플링 프로그램은 336개의 샘플로 구성되어 있으며, 고스포듐렌 결정이 높은 25km x 10km의 광범위한 지역을 빙하 퇴적물에서 확인했습니다.
이 프로젝트는 마타가미에서 북쪽으로 300km 떨어진 곳에 위치하며, 100% 소유된 권리와 하르팡 탐사의 옵션을 포함합니다. 회사는 2025년 4월에 첫 다이아몬드 시추 프로그램을 시작할 계획이며, 이상 지역 내 세 개의 주요 지역을 목표로 하고 있습니다. 5,000미터의 시추 캠페인은 A, B, C 구역의 다섯 개 시추 라인에 집중되며, 최대 100미터의 수직 깊이로 구멍을 계획하고 있습니다.
탐사 프로그램은 Li, Cs, Ta 및 Rb 농도가 높은 베릴-아파타이트-가닛을 포함하는 다이크를 발견했으며, 이는 인근 스포듐렌 다이크의 유망한 지표로 간주됩니다. 회사는 또한 독립 이사에게 10,543개의 이연주식단위를 부여하고 톰슨 룬드마크 재산 옵션 계약을 종료했습니다.
Li-FT Power (LIFFF) a annoncé des résultats d'exploration significatifs de son Projet Lithium Pontax dans la région de la Baie James au Québec. Le programme d'échantillonnage de till 2023-2024 de l'entreprise, comprenant 336 échantillons, a identifié une zone substantielle de 25 par 10 km avec des comptes de grains de spodumène élevés dans des sédiments glaciaires.
Le projet, situé à 300 km au nord de Matagami, comprend à la fois des revendications détenues à 100 % et des options de Harfang Exploration. L'entreprise prévoit de lancer son premier programme de forage diamant en avril 2025, ciblant trois zones importantes au sein de l'anomalie. La campagne de forage de 5 000 mètres se concentrera sur cinq lignes de forage à travers les Corridors A, B et C, avec des trous prévus jusqu'à une profondeur verticale maximale de 100 mètres.
Le programme d'exploration a révélé des dykes contenant du béryl-apatite-granat avec des concentrations élevées de Li, Cs, Ta et Rb, considérés comme des indicateurs prometteurs pour les dykes de spodumène à proximité. L'entreprise a également accordé 10 543 unités d'actions différées à des administrateurs indépendants et a mis fin à son accord d'option sur la propriété Thompson Lundmark.
Li-FT Power (LIFFF) hat bedeutende Explorationsergebnisse aus seinem Pontax-Lithiumprojekt in der James Bay-Region von Quebec bekannt gegeben. Das Sampling-Programm für Till 2023-2024 des Unternehmens, das aus 336 Proben besteht, hat ein substanzielles Gebiet von 25 x 10 km mit hohen Spodumen-Kornzahlen in glazialen Sedimenten identifiziert.
Das Projekt, das 300 km nördlich von Matagami liegt, umfasst sowohl 100% im Besitz befindliche Ansprüche als auch Optionen von Harfang Exploration. Das Unternehmen plant, im April 2025 sein erstes Diamantbohrprogramm zu starten, das drei bedeutende Bereiche innerhalb der Anomalie anvisiert. Die 5.000 Meter lange Bohrkampagne wird sich auf fünf Bohrzäune in den Korridoren A, B und C konzentrieren, wobei Löcher bis zu einer maximalen vertikalen Tiefe von 100 Metern geplant sind.
Das Explorationsprogramm hat Dykes mit Beryll-Apatit-Granat mit hohen Li-, Cs-, Ta- und Rb-Konzentrationen enthüllt, die als vielversprechende Indikatoren für nahegelegene Spodumen-Dykes gelten. Das Unternehmen hat außerdem 10.543 Deferred Share Units an unabhängige Direktoren vergeben und seinen Optionsvertrag für das Thompson Lundmark-Eigentum beendet.
- Large 25x10 km spodumene anomaly identified
- Three sizable exploration targets defined
- Strategic location in established lithium mining region
- Strong geological indicators for lithium mineralization
- Drilling program not starting until April 2025
- No confirmed lithium deposits yet - only surface indicators
- Previous till geochemistry methodology proved ineffective
Vancouver, British Columbia--(Newsfile Corp. - February 27, 2025) - Li-FT Power Ltd. (TSXV: LIFT) (OTCQX: LIFFF) (FSE: WS0) ("LIFT" or the "Company") is pleased to provide an update on the exploration results from the Pontax Lithium Project (the "Project"), located in the James Bay region of Quebec, and also provide an update on the planned 2025 maiden drill program at the Project. The Pontax Lithium Project is comprised of claims that are
During the summers of 2023 and 2024 LIFT collected 336 till samples for indicator mineral analysis in areas with very little outcrop. The goal was to identify spodumene grains in the soil/till that would signal the presence of nearby spodumene pegmatites beneath the soil cover. The programs resulted in the definition of a 25 by 10 km area of high spodumene grain counts in glacial sediments.
Francis MacDonald, CEO of LIFT, comments, "If spodumene is present in soils or glacial sediments, it is most likely sourced from lithium bearing spodumene pegmatites within close proximity. The areal extent of the Pontax spodumene anomaly is very impressive and suggests more than one pegmatite dyke is likely the cause of this. We believe there are at least three sizable targets, all within the same geological setting, all with high spodumene counts. The team is excited to get the drills started in April 2025 and are busily finalizing details for the program which is targeting the sources of this extensive spodumene anomaly."
Figure 1 - Location of LIFT's Pontax, Moyenne and Rupert Projects, located in the James Bay region of Quebec in similar geology to major spodumene deposits, e.g. Galaxy, Whabouchi, Rose. Detailed illustrations for the Pontax project target focus on the boxed area.
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Figure 2 - Pontax Project spodumene and holmquistite grain counts from till samples collected in 2023 and 2024 at LIFT's Pontax Project. (Holmquistite is a lithium-bearing amphibole commonly associated with spodumene-bearing dykes).
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Figure 3 - Lithium values in till geochemistry samples at the Pontax Project. High Li values in till geochemistry occur proximal to fractionated pegmatites mapped in outcrop.
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Figure 4 - K/Rb ratios from outcropping pegmatite samples in the Pontax area. K/Rb values define a ~25 kilometer trend which follows the folded contact between mafic volcanic rocks and clastic sedimentary rocks.
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Background on the Pontax Project
The Pontax Lithium Project is located in the James Bay region of Quebec, approximately 300 km to the north of the town of Matagami, along the Billy Diamond Highway that provides access into the northern regions of Quebec. Matagami is a regional center with rail access.
The Pontax Lithium Project is located along the Pontax River within the Anatacau-Pivert greenstone belt, a thin band of supracrustal rocks that occurs between the La Grande granitoid-gneiss terrane to the east and the Nemiscau sub-province to the west (Moukhsil et al., 2003). The Nemiscau sub-province is a large sedimentary basin which has undergone amphibolite to granulite facies metamorphism and is expressed in outcrop is diatexite and metatexites (rocks that have been subjected to high temperatures and have undergone some degree of partial melting and little to none of the primary textures remain).
The Anatacau-Pivert greenstone belt is located to the east of the Nemiscau sub-province and is composed of lower amphibolite grade mafic to felsic volcanics, siltstone to wackes, iron formations, and local peridotite intrusions. Metamorphism is lower grade than the Nemiscau sedimentary rocks with primary textures being preserved and no onset of partial melting.
The Pontax Formation is a conglomerate to wacke unit which sits unconformably on top of the Anatacau-Pivert supracrustal rocks. Clast composition is polymictic, ranging from granitic rocks to volcanic and sedimentary rocks. In some outcrops, quartz veins have been observed in the underlying volcanic rocks that terminate sharply against the Pontax Formation indicating the veining predated the deposition of the conglomerates. Polymictic conglomerates that unconformably overlie volcano-sedimentary rocks have been shown to mark major structural zones (e.g. the Timiskaming assemblage in the Abitibi greenstone belt). The east-west trend of the Pontax Formation suggests that there is an east-west trending structural zone that transects the Pontax Property; that trend is a prospective structural setting for hosting spodumene pegmatites.
Discussion of exploration program and methodology
LIFT initiated exploration on the Pontax Lithium Project during the summer of 2022. The initial exploration program consisted of a regional till geochemistry sampling program that covered all of LIFT's Quebec properties (see press release dated November 15, 2022).
During the spring of 2023, LIFT drill-tested two anomalies defined with till geochemistry on the Rupert Project (see press release dated March 29, 2023). Till geochemistry outlined spatially continuous anomalies in Li-Cs-Ta-Sn-Nb at Target A and Target B. Results from the drill program were disappointing; no spodumene pegmatites were intersected. LIFT's technical team made the conclusion that till geochemistry was not an effective tool to define spodumene pegmatites under cover.
During the summer of 2023, LIFT decided to trial mineral counting as a methodology to target spodumene in glacial sediments. Indicator mineral counts have been used for decades in diamond and gold exploration programs and have been fundamental tool for a number of discoveries in Canada (i.e. Ekati, Diavik, Gahcho Kue (diamonds), Rainy River, Meliadine, Casa Berardi (gold), Lac des Iles (PGE), and Voisey's Bay (Ni sulphide)). The premise of this sampling technique is that unique minerals, and combinations of minerals, occur in mineral deposits. These minerals are transported along ice-flow during glaciation periods and get smeared across the landscape. Till samples (usually 5 - 50 kilograms of till) are collected and then processed in a way to isolate these indicator minerals, which are then counted. Areas with high "counts" typically indicate promising targets for further exploration.
LIFT selected areas with high lithium value in till geochemistry (and associated pathfinder elements) as areas to collect sampling for spodumene grain counts within the Pontax and Rupert projects. Samples were collected both up-ice and down-ice of the Whabouchi lithium deposit (Rio Tinto - Investissement Quebec, 50/50 joint venture) on LIFT's claims for orientation. The samples collected down-ice of Whabouchi returned hundreds of spodumene grains while the samples up-ice returned background values of less than 10 spodumene grains (see press release dated May 2, 2024).
During the summer of 2024, LIFT collected an additional 336 till samples for spodumene counts, as well as conducted geologic mapping, prospecting, surficial mapping, and magnetics surveys.
The surficial geology of the Pontax Property was influenced by the incursion of the Tyrrell Sea at the end of the last ice glaciation. The sea invaded the James Bay Lowlands of Quebec and Ontario upon retreat of the glacier then underwent forced regression during glacio-isostatic rebound. Glaciomarine silt and clay deposits are found in the topographic lows across the Pontax Project area, with underlying till and glaciofluvial deposits protruding to create local topographic highs. Reworking of these topographic highs by wave action in the near-shore environment complicates the dispersal of indicator minerals in the glacial sediments, but the bedrock source regions are suspected to be local because evidence for long-shore drift-the beaches themselves-are isolated to individual uplands and do not extend regionally across the landscape.
Figure 5 - Spodumene and Holmquistite Zonation map illustrating counts across the Pontax Project.
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Figure 6 - Mineral Zonation and structural trends map with Drill fence location.
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Mineralogical Zonation and Structural Geology of the Pontax Pegmatites
At the up-ice termination of the anomalous lithium and spodumene-grains in till (Figures 2 & 3) there are outcropping exposures of pegmatite dykes protruding through glacial cover that are aligned in an E-W direction (Figure 5, map corridors A & B). Geochemical sampling and mineralogical observations of these dykes reveals that accessory levels of beryl, apatite and garnet are present in some of the dykes. These minerals are common in, or in close proximity to, spodumene dykes in other deposits (e.g. Galaxy, Greenbushes,). The beryl-apatite-garnet bearing dykes sampled at Pontax have the highest Li, Cs, Ta and Rb concentrations of all the dykes sampled across the property and are therefore considered good vectoring minerals for potentially locating near-by spodumene dykes hidden under cover. Holmquistite, a lithium-bearing amphibole commonly associated with spodumene-bearing dykes, was also observed in the contacts of dykes within Corridor A. Structurally, the corridors of dykes follow near-vertical east-west oriented stratigraphic contacts in isoclinal folds at or near the Anatacau-Pivert greenstones and the Pontax Formation meta sediment unconformity.
Drill Targets
In 2025, 5,000 m of diamond drilling is planned to cross Corridors A, B and C in five drill fences (Figure 6). The drilling is prioritised where Li-in-till and spodumene grains-in till anomalies terminate up ice against the corridors. Drilling will focus on combinations of beryl-apatite-holmquisite bearing dyke swarms with strongest concentrations of Li-Cs-Ta and K/Rb (Figure 4). Holes are planned to a maximum vertical depth of 100 m from surface.
LIFT Announces DSU Grant
LIFT announces that it has granted a total of 10,543 Deferred Share Units ("DSU") to certain independent directors of the Company in lieu of director fees for the first quarter, at a fair market value of C
Each DSU represents the right to receive one common share in the share capital of the Company. The DSUs vest one year from the grant date and are settled in accordance with the terms of the Company's Share Incentive Plan, a copy of which is available on the Company's SEDAR+ profile.
Termination of Option Agreement
Additionally, the Company announces that it has terminated its option to acquire a
Qualified Person
The disclosure in this news release of scientific and technical information regarding LIFT's mineral properties has been reviewed and approved by Ron Voordouw, Ph.D., P.Geo., Partner, Director Geoscience, Equity Exploration Consultants Ltd., and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) and member in good standing with the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists (NAPEG) (Geologist Registration number: L5245).
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: investors@li-ft.com
Website: www.li-ft.com
Daniel Gordon
Investor Relations
Tel: +1.604.609.6185
Email: investors@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" in the Company's latest annual information form filed on March 27, 2024, 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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FAQ
What is the size of the spodumene anomaly discovered at LIFFF's Pontax Project?
When will LIFFF begin drilling at the Pontax Lithium Project?
How many meters of diamond drilling is LIFFF planning for Pontax in 2025?
What significant minerals were found in the Pontax Project dykes?
