LIFT Initiates Surface Exploration Program at the CALI Property NWT, Canada
LIFT Initiates Surface Exploration Program at
the CALI Property NWT, Canada
Vancouver, British Columbia--(Newsfile Corp. - August 22, 2023) - Li-FT Power Ltd. (
CSE: LIFT
)
(
OTCQX: LIFFF
) (
FSE: WS0
) (
"LIFT"
or the
"Company"
) is pleased announce the start of exploration
activities at the 100% owned CALI Lithium Project located in the Little Nahanni Pegmatite Group in
western NWT, Canada.
The CALI property hosts a series of north-northwest trending spodumene pegmatite dykes located at the
northern end of a 13 kilometre-long spodumene pegmatite dyke trend known as the Little Nahanni
Pegmatite Group
1
. The CALI property is located approximately six kilometres from the Howard's Pass
access road and 50 kilometres to the northwest of the past-producing Cantung mine
.
Historical geological mapping within the LIFT concessions describes the dykes as outcropping over a
500-metre strike length, having a 300-metre outcropping vertical extent, and occurring as parallel dykes
in corridors up to 100-metres wide
2
. Float mapping, as verified by LIFT management in a recent site
visit, in areas where the dykes trend under cover suggests that the lithium-bearing dykes on the property
could be up to 1,100 metres in length (Figures 1, 2 & 3). The current exploration program has been
designed to better understand the average grade across the dyke's exposed strike length to 300 metres
vertical with systematic rock sampling and mapping.
Prospecting for other parallel dykes and dyke
extensions trending onto the
CALI project from the south will also be carried out through detailed soil
sampling.
Francis MacDonald, CEO of LIFT comments, "During our recent field visit to the CALI property in late
June, we were very impressed with the amount of spodumene-bearing boulders covering the surface.
The spodumene percentages that we observed were quite high and we also expect very good grades to
come back from surface sampling. The extent of this spodumene pegmatite dyke swarm is impressive
and we believe there is excellent potential at the CALI project to demonstrate a large spodumene
resource that is also relatively close to transportation infrastructure."
The Company plans to integrate the data collected into a 3D geology model for exploration targeting and
planning for an exploration/resource definition drill program in summer 2024. The Company is in the final
stages of a Land Use Permit application for advanced exploration activities which includes drilling.
Figure 1 - Location of LIFT's CALI Property and detail showing the exposure of the known
spodumene-bearing pegmatite dyke.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/177989_f5f789b3a4681bc5_001full.jpg
Figure 2 - LIFT management examining a boulder train of spodumene-bearing pegmatite, June 2023.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/177989_f5f789b3a4681bc5_002full.jpg
Figure 3 - Boulder of spodumene-bearing pegmatite containing ~40% spodumene from the CALI
property, June 2023.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/177989_f5f789b3a4681bc5_003full.jpg
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). No QA/QC review is available in relation to historical sampling and drilling
on the Yellowknife project and results have not been verified by a qualified person as defined by NI 43-
101. Past sampling and drilling results are not necessarily indicative of future results or performance
from the Yellowknife property.
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
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.
1
Groat, L.A., T. Scott Ercit, Mati Raudsepp, and Mark H.F. Mauthner, 1994: Geology and Mineralogy of the Little Nahanni Pegmatite Group; part of
NTS areas 105I/01 & 02. EGS 1994-14 for Indian and Northern Affairs, Canada.
2
Beavon, R.V., 1977: Preliminary Geological Survey of the CALI 1 - 9, 11 mineral claims, Cantung area, District of Nahanni, NWT, Assessment Report
080685 for Canadian Superior Exploration Limited.
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