LIFT Intersects 60 Metres at 1.26% Li2O at the Fi Southwest Pegmatite and 30 Metres at 1.13% Li2O at the Fi Main Pegmatite, Yellowknife Lithium Project, NWT, Canada
LIFT Intersects 60 Metres at 1.26% Li2O at the
Fi Southwest Pegmatite and 30 Metres at
1.13% Li2O at the Fi Main Pegmatite,
Yellowknife Lithium Project, NWT, Canada
Vancouver, British Columbia--(Newsfile Corp. - August 21, 2023) - Li-FT Power Ltd.
(CSE: LIFT)
(OTCQX: LIFFF) (FSE: WS0)
("
LIFT
" or the "
Company
") is pleased to report assays from 18 drill
holes completed at the Fi Southwest and Fi Main 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:
YLP0006
: 80 m at 0.87% Li
2
O, including 44 m at 1.14% Li
2
O (Fi Southwest)
1
YLP0007
: 60 m at 1.26% Li
2
O, including 39 m at 1.38% Li
2
O (Fi Southwest)
1
YLP0011
: 26 m at 1.22% Li
2
O, including 23 m at 1.37% Li
2
O (Fi Main)
YLP0017
: 30 m at 1.13% Li
2
O, including 23 m at 1.42% Li
2
O (Fi Main)
YLP0023
: 30 m at 1.10% Li
2
O, including 23 m at 1.33% Li
2
O (Fi Main)
1
Drilled down-dip due to access restriction.
Francis MacDonald, CEO of LIFT comments, "Fi Southwest continues to deliver high-grade spodumene
over significant widths. Hole YLP0007 extends the strike length of spodumene mineralization to 335
metres. The first drill holes into the Fi Main pegmatite have delivered some excellent intersects as well.
Spodumene percentages are in line with mapping that has been completed on surface. Our operational
progress has been significant to date - we have drilled 117 holes into six different pegmatites and have
submitted samples to the lab for assaying; results expected to be reported in batches over the coming
weeks."
Discussion of Drill Results
Holes YLP0006 and YLP0007 continued drill testing along a 540 metre-long central segment of the Fi
Southwest dyke where spodumene makes up 15-25% of the rock at surface (Figure 2 and 3).
The holes
targeted under historical trenches of up to 37m of 1.37% Li
2
O and have confirmed spodumene
mineralization to 50 metres below surface.
Holes YLP0008 to YLP0022 tested a 600 metre-long section of the Fi Main dyke where it contains 5-
30% spodumene over its strike length (Figure 4 and 5). Drilling targeted zones beneath historical
trenches of up to 21.9 metres of 1.34% Li
2
O, we have confirmed spodumene mineralization to 100m
below surface exposures. The Fi Southwest and Fi Main drill holes have collectively tested 1,500 metres
of strike length of the Fi dyke complex, confirming to a depth of approximately 100 metres, continuity of
the spodumene mineralization that has been mapped and trenched on surface. Spodumene is a primary
mineral constituent of the dyke along with varying amounts of quartz, potassium feldspar, and muscovite.
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. The Fi Southwest
and Fi Main pegmatites are located within the Fi mineral lease.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/177826_ba58f85184b06b00_001full.jpg
Operations Update
As of August 15, 2023, LIFT has evacuated personel from the Hidden Lake Camp at the YLP (see press
release dated August 15, 2023). Drilling operations at the Big East pegmatite have also been paused
due to heavy smoke that limits visibility for flying helicopters. LIFT is monitoring the situation closely and
plans to begin operations again once it is safe to do so.
Approximately 19,000 metres have been drilled across 117 diamond drill holes targeting the Fi
Southwest, Fi Main, Ki, Shorty, Big East and Echo pegmatite targets. LIFT plans to complete 1,500
metres of drilling at the Echo target during the summer 2023 field season.
Figure 2 - 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/8766/177826_ba58f85184b06b00_002full.jpg
Figure 3 - Cross-section of YLP0007 which intersected 60 metres at 1.26% Li
2
O drilling beneath the
outcropping exposure of the Fi Southwest pegmatite dyke. Note that YLP0007 was drilled down-dip
due to swampy ground on the southeast side of the outcrop.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/177826_ba58f85184b06b00_003full.jpg
Figure 4 - Plan view showing the surface expression of the Fi Main 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/8766/177826_ba58f85184b06b00_004full.jpg
Figure 5 - Cross-section of YLP0017 which intersected 30 metres at 1.13% Li
2
O drilling beneath the
outcropping exposure of the Fi Main pegmatite dyke.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/177826_ba58f85184b06b00_005full.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
YLP0006
45
125
80
0.87
Fi-SW
Including
63
107
44
1.14
YLP0007
43
103
60
1.26
Fi-SW
Including
64
103
39
1.38
and
119
130
11
0.18
YLP0008
5
25
20
0.89
Fi-Main
Including
15
23
8
1.74
and
86
94
8
1.07
Including
89
93
5
1.61
and
100
107
7
0.73
Including
101
103
2
1.55
YLP0009
19
52
33
0.28
Fi-Main
Including
43
46
3
1.08
YLP0010
64
80
16
0.82
Fi-Main
Including
66
75
9
1.41
and
128
144
16
0.61
Including
135
140
5
1.32
YLP0011
57
83
26
1.22
Fi-Main
Including
59
82
23
1.37
YLP0012
35
58
23
0.70
Fi-Main
Including
45
55
10
1.12
and
122
146
24
0.50
Including
139
145
6
1.14
YLP0013
53
67
14
0.65
Fi-Main
Including
56
61
5
1.50
and
123
142
19
0.05
YLP0014
67
90
23
0.74
Fi-Main
Including
73
86
13
1.21
YLP0015
84
111
27
1.00
Fi-Main
Including
98
108
10
1.84
YLP0016
61
85
24
0.36
Fi-Main
and
150
161
11
0.42
Including
156
159
3
1.24
YLP0017
64
94
30
1.13
Fi-Main
Including
69
92
23
1.42
YLP0018
16
28
12
0.74
Fi-Main
Including
19
24
5
1.18
and
87
106
19
0.42
Including
97
102
5
1.04
YLP0019
368
371
3
0.02
Fi-Main
and
403
409
6
0.01
YLP0020
250
255
5
0.49
Fi-Main
YLP0021
211
255
44
0.09
Fi-Main
YLP0022
289
308
19
0.08
Fi-Main
and
312
322
10
0.05
YLP0023
78
108
30
1.10
1
Fi-Main
Including
83
106
23
1.33
Including
87
104
17
1.42
1
Assays for hole YLP0023 are preliminary, pending receipt of final assay certificate
Table 2 - Drill collars table of reported drill holes in this press release
Hole No.
Northing
1
Easting
1
Elevation (m)
Length (m)
Azimuth
Dip
Dyke
YLP0006
6940681
371107
223.6
149
120
45
Fi SW
YLP0007
6940724
371134
224.7
146
120
45
Fi SW
YLP0008
6941432
371769
249.2
123
97
45
Fi Main
YLP0009
6941720
371825
247.9
68
96
45
Fi Main
YLP0010
6941331
371722
257.1
149
95
56
Fi Main
YLP0011
6941673
371784
256.9
129
94
48
Fi Main
YLP0012
6941389
371740
256.8
159
95
60
Fi Main
YLP0013
6941630
371774
257.0
158
100
50
Fi Main
YLP0014
6941436
371719
256.5
160
97
53
Fi Main
YLP0015
6941721
371770
256.4
125
98
50
Fi Main
YLP0016
6941486
371728
256.4
177
97
55
Fi Main
YLP0017
6941822
371784
255.9
110
93
45
Fi Main
YLP0018
6941527
371776
258.5
123
98
45
Fi Main
YLP0019
6941556
371521
257.6
450
96
57
Fi Main
YLP0020
6941956
371576
260.4
389
97
55
Fi Main
YLP0021
6941943
371676
259.0
269
98
52
Fi Main
YLP0022
6941655
371572
256.1
390
97
51
Fi Main
YLP0023
6941927
371781
257.0
125
97
45
Fi Main
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 g sub-sample was riffle split (SPL-21) and then
pulverized (PUL-32) such that 85% passed through 75 um (200 mesh) screen. A 0.2 g 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 g sub-sample of the pulverized material was analysed for 53
elements according to ALS method ME-MS89L. All results passed the QA/QC screenning at the lab, all
inserted standards and blanks returned results that were within acceptible 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 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 Field.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/177826