LIFT Intersects 22 m at 1.46% Li2O at the Fi Southwest, 24 m at 1.12% Li2O at the Fi Main, and Reports First Results from Big East and Shorty Pegmatites, Yellowknife Lithium Project, NWT
LIFT Intersects 22 m at 1.46% Li2O at the Fi
Southwest, 24 m at 1.12% Li2O at the Fi Main,
and Reports First Results from Big East and
Shorty Pegmatites, Yellowknife Lithium
Project, NWT
Vancouver, British Columbia--(Newsfile Corp. - September 6, 2023) - Li-FT Power Ltd.
(CSE: LIFT)
(OTCQX: LIFFF)
(FSE: WS0)
("
LIFT
" or the "
Company
") is pleased to report assays from 12 drill
holes completed at the Fi Southwest, Fi Main, Shorty, and BIG East pegmatites within the Yellowknife
Lithium Project ("YLP") located outside the city of Yellowknife, Northwest Territories (Figure 1), and also
confirms DTC eligibility status. Drilling has intersected significant intervals of spodumene mineralization,
with the following highlights:
Highlights:
YLP0031:
22 m at 1.46% Li
2
O
, including 19 m at 1.63% Li
2
O (Fi Southwest)
YLP0024:
24 m at 1.12% Li
2
O,
including 15 m at 1.47% Li
2
O (Fi Main)
YLP0033:
25 m at 1.13% Li
2
O
, including 16 m at 1.50% Li
2
O (Shorty)
YLP0035:
19 m at 1.01% Li
2
O
, including 14 m at 1.25% Li
2
O (BIG East)
and:
16 m at 1.13% Li
2
O
, including
6 m at 1.69% Li
2
O (BIG East)
Francis MacDonald, CEO of LIFT, comments, "We are excited to showcase high-grade spodumene
over significant widths at each of the first four pegmatites which have been drilled thus far. With 35 holes
now reported we have 82 holes still to report, including holes from two further pegmatites, Echo and Ki. In
the recent days the City of Yellowknife, the Yellowknives Dene First Nation, and the Government of the
Northwest Territories have announced a re-entry plan for residents of Yellowknife, Ndilǫ, and Dettah who
have been evacuated due to wildfires. We would like to commend the workers and volunteers who have
done a tremendous job to secure Yellowknife, Ndilǫ, and Dettah. We look forward giving a further update
on operations once staff have been mobilized back to the project and drilling has commenced again.
"Furthermore, we are pleased to have received DTC eligibility recently and as part of our core goals to
growing the company profile. Following a number of US inquiries we are confident that receiving DTC
eligibility is another significant step forwards as we provide enhanced access and liquidity to our
growing U.S. investor base."
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/8766/179625_ae260dceb489cbcc_001full.jpg
Discussion of Drill Results
Hole YLP0024 continued testing the north end of a 700 metre-long segment of the Fi Main dyke.
The
hole was targeted to intercept the down dip extension of spodumene mineralization exposed in surfaces
trenches. The hole intercepted several parallel dykes, with the main one returning 24 metres averaging
1.12% Li
2
O from 71 metres (Table 1; Figures 2 & 3).
Holes YLP0025 to YLP0031, and YLP0034 continued testing a 690 metre-long section of the Fi
Southwest dyke. Drilling confirmed the down dip extension of spodumene mineralization exposed at
surface in most holes. Hole YLP0031 intercepted 22 metres averaging 1.46% Li
2
O from 154 metres,
including 19 m averaging 1.63% Li
2
O from 155 metres (Table 1; Figures 4 & 5).
To date, the Fi Southwest and Fi Main drill holes have collectively tested 1,750 metres of strike length
within the Fi dyke complex, confirming continuity of the spodumene mineralization to a maximum depth
to date of approximately 100 metres. Spodumene is the primary lithium mineral constituent of the dyke
along with varying amounts of quartz, feldspar, and muscovite.
Figure 2 - Plan view showing the surface expression of the Fi Main 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/8766/179625_ae260dceb489cbcc_002full.jpg
Figure 3 - Cross-section of YLP0024 which intersected 24 metres at 1.12% Li
2
O at the Fi Main
pegmatite dyke.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/179625_ae260dceb489cbcc_003full.jpg
Drill hole YLP0033 was the first hole of the drill program to test 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 drilled into the central portion of a 400 metre-long segment of the dyke below historical
trenching averaging 21 metres of 1.1% Li
2
O. The hole confirmed better grade and width of spodumene
mineralization at 50 metres below the surface trenches, with an intercept of 25 metres averaging 1.13%
Li
2
O from 42 metes, including 16 metres averaging 1.50% Li
2
O from 50 metres (Table 1; Figures 6 &
7).
Drill holes YLP0032 and YLP0035 are the first holes testing the BIG East dyke swarm which is exposed
over 1,300 meters as a 120 metre-wide corridor of parallel-trending dykes (Figure 8).
The holes were
drilled 150 metres apart under a 350 metre-long central section of the dyke swarm to 75 metres below
surface.
Hole YLP0032 intercepted two dykes one with 15 metres averaging 0.75 % Li
2
O from 58
metres, including 8 m averaging 1.04% Li
2
O from 60 metres and the other 18 metres averaging 1.04%
Li
2
O from 86 metres. Hole YLP0035 intercepted three dykes. The intercept in the upper dyke averaged
1.01% Li
2
O over 19 metres from 11 metres, including 14 metres averaging 1.25% Li
2
O from 13 metres.
The middle dyke intercepted 16 metres of 1.13% Li
2
O from 39 metres (Table 1; Figures 8 & 9).
Spodumene is the primary lithium mineral constituent of the dyke swarm occurring with varying amounts
of quartz, feldspar, and muscovite.
DTC Eligibility
The Depository Trust Company ("DTC") has made LIFT common shares eligible for electronic deposit at
the DTC. The Company believes being DTC eligible will make trading in its common shares on the
OTCQX Best Market more accessible to the US investment community. LIFT common shares will
continue to trade on the OTCQX Best Market under the ticker symbol "LIFFF".
DTC is a subsidiary of the Depository Trust & Clearing Corporation and manages the electronic clearing
and settlement of publicly traded companies. Securities which are eligible to be electronically cleared
and settled through the DTC are considered "DTC eligible." Having DTC eligibility enables the LIFT
common shares to be distributed, settled, and serviced through DTC's automated processes. This
allows for a more streamlined process of trading of the LIFT common shares in the United States while
enhancing the liquidity of the common shares in the OTC capital markets.
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/8766/179625_ae260dceb489cbcc_004full.jpg
Figure 5 - Cross-section of YLP0031 which intersected 22 metres at 1.46% Li
2
O at the Fi Southwest
pegmatite dyke.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/179625_ae260dceb489cbcc_005full.jpg
Figure 6 - 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/8766/179625_ae260dceb489cbcc_006full.jpg
Figure 7 - Cross-section of YLP0033 which intersected
25
metres at 1.13% Li
2
O at the Shorty
pegmatite dyke
.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/179625_ae260dceb489cbcc_007full.jpg
Figure 8 -
Plan view showing the surface expression of the BIG East 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/8766/179625_ae260dceb489cbcc_008full.jpg
Figure 9 - Cross-section of YLP0032 intersected 18 meters at 1.04% Li
2
O and 15 metres at 0.75%
Li
2
O drilling beneath the outcropping exposure of the BIG East pegmatite dyke.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/179625_ae260dceb489cbcc_009full.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
YLP0024
71
95
24
1.12
Fi Main
inc.
78
93
15
1.47
YLP0025
166
170
4
0.86
Fi SW
183
190
7
0.07
195
211
16
0.04
YLP0026
173
184
11
0.03
Fi SW
272
281
9
0.05
288
322
34
0.04
YLP0027
197
249
52
0.03
Fi SW
and
257
267
10
0.03
YLP0028
33
42
9
0.06
Fi SW
and
61
69
8
0.01
and
216
234
18
0.01
YLP0029
174
179
5
0.04
Fi SW
and
316
346
30
0.02
YLP0030
82
87
5
0.01
Fi SW
196
211
15
0.03
215
261
46
0.04
YLP0031
154
176
22
1.46
Fi SW