LIFT Intersects 17 m at 1.28% Li2O at the Shorty Pegmatite and 21 m at 1.08% Li2O at the BIG East Pegmatite, Yellowknife Lithium Project, NWT
LIFT Intersects 17 m at 1.28% Li2O at the
Shorty Pegmatite and 21 m at 1.08% Li2O at
the BIG East Pegmatite, Yellowknife Lithium
Project, NWT
Vancouver, British Columbia--(Newsfile Corp. - October 12, 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 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:
YLP0050:
17 m at 1.28% Li
2
O,
including 6 m at 1.76% Li
2
O (Shorty)
YLP0055:
17 m at 1.14% Li
2
O,
including 14 m at 1.36% Li
2
O (Shorty)
YLP0052:
15 m at 1.27% Li
2
O
, including 9 m at 1.74% Li
2
O (BIG East)
YLP0053:
10 m at 0.76% Li
2
O
, including 5 m at 1.39% Li
2
O (BIG East)
and:
21 m at 1.08% Li
2
O
, including 4 m at 2.09% Li
2
O
and:
8 m at 1.26% Li
2
O.
Discussion of Drill Results
Shorty Pegmatite:
Drill Hole YLP0050 was collared just to the south of the center of the Shorty dyke. It
intercepted 17 metres of 1.28% Li
2
O from 42 metres, including within that interval 8 metres of 1.21%
Li
2
O and 6 metres of 1.76% Li
2
O. Drill hole YLP0055 was collared 52 metres to the southwest of
YLP0050, where it also intercepted 17 metres of pegmatite that assayed 1.14% Li
2
O from 48 metres,
including 14 metres of 1.36% Li
2
O (Table 1and 2, Figures 2, 3, and 4).
BIG East Pegmatite:
Drill hole YLP0052 was collared just southwest of the center of the dyke, where it
intercepted 15 metres of 1.27% Li
2
O from 29 metres, including 9 metes of 1.74% Li
2
O from 31 metres.
Drill hole YLP0053 was collared approximately 180 metres north of YLP0052. YLP0053 intersected a
series of four dykes that are interpreted to be either parallel dykes and/or branches off a main dyke
separated by screens or inclusions of metasediments. The first intercept is 10 metres of 0.76% Li
2
O
from 71 metres, including 5 metres of 1.39% Li
2
O from 73 metres, followed by 5 metres of 0.90% Li
2
O
from 96 metres, and then 8 metres of 0.24% Li
2
O from 103 metres, and finally 21 metres of 1.08% Li
2
O
from 117 metres, including 4 metres of 2.09% Li
2
O from 118 metres and 8 metres of 1.26% Li
2
O from
126 metres. Hole YLP0056 is on in line and at the same azimuth and dip as YLP0053, but 80 metres
southeast of YLP0053 and collared within the BIG East dyke system. YLP0056 intersected two dykes
with 8 metres of 1.07% Li
2
O from 21 metres, including 5 metres of 1.54% Li
2
O from 22 metres, as well
as 9 metres of 1.36% Li
2
O from 58 metres, including 7 metres of 1.61% Li
2
O from 59 metres (Table 1
and 2, Figures 5 and 6).
Spodumene is the primary lithium mineral constituent of the dykes and occurs with varying amounts of
quartz, feldspar, and muscovite. All the dykes are in amphibolite-grade Burwash Formation
metasediments.
Drilling and Bulk Sampling Progress Update
Currently, LIFT has reported results from 58 drill holes (10,222 metres). To date, 179 diamond drill holes
have been completed (28,376 metres). A total of 8,933 kilograms of rock has been collected from eight
pegmatites in saw-cut channels for metallurgical testing (approximately 1,000 kilograms at each
pegmatite). Bulk samples have been shipped to SGS Lakefield for preliminary metallurgical testing.
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/8766/183694_60ae903594fcb863_001full.jpg
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/8766/183694_60ae903594fcb863_002full.jpg
Figure 3 - Cross-section of YLP0050 which intersected the Shorty pegmatite dyke with a 17 m interval
of 1.28% Li
2
O including 8 m of 1.21% Li
2
O and 6 m of 1.76% Li
2
O.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/183694_60ae903594fcb863_003full.jpg
Figure 4 - Cross-section of YLP0055 which intersected 17 metres at 1.14% Li
2
O in the Shorty
pegmatite dyke.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/183694_60ae903594fcb863_004full.jpg
Figure 5 - 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/8766/183694_60ae903594fcb863_005full.jpg
Figure 6 - Cross-section illustrating YLP0053 and YLP0056 with results as shown in the BIG-E
pegmatite dyke.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/183694_60ae903594fcb863_006full.jpg
Table 1 - Assay highlights for drill holes reported in this press release.
Hole No.
From
(m)
To
(m)
Interval
(m)
Li
2
O%
Dyke
YLP0050
42
59
17
1.28
Shorty
inc
42
50
8
1.21
inc
53
59
6
1.76
YLP0052
29
44
15
1.27
BIG-E
inc
31
40
9
1.74
YLP0053
71
81
10
0.76
BIG-E
inc
73
78
5
1.39
and
96
101
5
0.90
and
103
111
8
0.24
and
117
138
21
1.08
inc
118
122
4
2.09
inc
126
134
8
1.26
YLP0055
48
65
17
1.14
Shorty
inc
50
64
14
1.36
YLP0056
21
29
8
1.07
BIG-E
inc
22
27
5
1.54
and
58
67
9
1.36
inc
59
66
7
1.61
Table 2 - Drill collars table of reported drill holes in this press release
Drill Hole
Easting
1
Northing
1
Elevation
(m)
Azimuth
Depth
(m)
Dip
Dyke
YLP0050
372,784
6,938,010
256
127
92
47
Shorty
YLP0052
346,059
6,933,031
208
123
86
48
BIG-E
YLP0053
346,064
6,933,211
210
123
191
44
BIG-E
YLP0055
372,754
6,937,967
257
127
80
50
Shorty
YLP0056
346,135
6,933,169
212
123
101
45
BIG-E
1
UTM 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 LIFT
and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral
Projects (NI 43-101).
LIFT Engages Winning Media
LIFT is pleased to announce that it has engaged Winning Media LLC ("Winning Media") to provide
investor relations and digital advertising services to the Company. Winning Media is a Houston, Texas
based marketing agency that specializes in digital and corporate brand marketing services to enhance
corporate visibility and retail investor awareness. The engagement of Winning Media will extend for a
period of 30 days, to commence when authorized by the Company. Winning Media will be paid a fee of
US$250,000, payable in advance of the initiation of services. Neither Winning Media nor any of its
principals currently own any interest, directly or indirectly, in the Company.
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:
Daniel Gordon
Investor Relations
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/183694