LIFT Prepares for Initial Diamond Drill Program at the 25 km Long Spodumene Anomaly at the Pontax Project, Quebec
LIFT Prepares for Initial Diamond Drill
Program at the 25 km Long Spodumene
Anomaly at the Pontax Project, Quebec
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 100% owned by LIFT as well as claims under an
option agreement with Harfang Exploration Ltd.
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.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/242596_a8a6a97ac4f8fa59_001full.jpg
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).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/242596_a8a6a97ac4f8fa59_002full.jpg
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.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/242596_a8a6a97ac4f8fa59_003full.jpg
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.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/242596_a8a6a97ac4f8fa59_004full.jpg
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.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/242596_a8a6a97ac4f8fa59_005full.jpg
Figure 6 - Mineral Zonation and structural trends map with Drill fence location.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/242596_a8a6a97ac4f8fa59_006full.jpg
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$2.45 per DSU. The DSUs were granted in accordance with the Company's Omnibus Share Incentive
Plan, which was approved by shareholders on February 13
th
, 2024.
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 100% interest in the
Thompson Lundmark Property, pursuant to an option agreement dated February 18, 2023 (the "Option
Agreement"). In accordance with the Option Agreement, the Company has given notice for the
termination of the Option Agreement, effective February 18, 2025.
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:
Website:
www.li-ft.com
Daniel Gordon
Investor Relations
Tel: +1.604.609.6185
Email:
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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
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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
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