LIFT Intersects 79 Metres at 1.13% Li2O and 39 Metres at 1.43% Li2O at the Fi Southwest Pegmatite, Yellowknife Lithium Project, NWT, Canada
LIFT Intersects 79 Metres at 1.13% Li2O and 39
Metres at 1.43% Li2O at the Fi Southwest
Pegmatite, Yellowknife Lithium Project, NWT,
Canada
Vancouver, British Columbia--(Newsfile Corp. - July 25, 2023) - Li-FT Power Ltd.
(CSE: LIFT) (OTC
Pink: LIFFF) (FSE: WS0)
("
LIFT
" or the "
Company
") is pleased to report that initial assays from the
first five drill holes completed at the Fi Southwest pegmatite within the Yellowknife Lithium Project
("YLP") located outside the city of Yellowknife, Northwest Territories. Drill results have confirmed
spodumene mineralization over 320m of strike length, to a depth of approximately 150m from surface at
the Fi Southwest dyke which remains open in all directions. Drilling is ongoing on the remainder of the
dyke, which is currently testing a total of 1,100 metres of strike-length to a depth of 250 metres.
Highlights:
Hole
From (m)
1
To (m)
Interval (m)
2
Li
2
O (%)
3
YLP0001
73
108
35
1.30
inc.
75
102
27
1.58
YLP0002
180
214
34
0.34
YLP0003
55
94
39
1.43
inc.
57
92
35
1.57
YLP0004
55
88
33
1.39
inc.
56
85
29
1.55
YLP0005
4
52
131
79
1.13
inc.
73
129
56
1.42
1
From, to, and interval lengths in metres, as measured down core axis, not true width.
2
Individual sample lengths = 1 metre.
3
Lithium assays performed by ALS Global on saw cut half HQ core using method ME-
ICP82b; results reported in Li%, converted to Li
2
O by
multiplying by 2.154.
4
Drilled down-dip due to access restriction.
Francis MacDonald, CEO of LIFT comments, "We are very encouraged with these first drill results at the
Yellowknife Lithium Project. The widths and grades of lithium and spodumene intersected in these holes
are similar to what was historically reported in the 1950s to 1980s
1
. 8 different pegmatites will be drilled
this summer with 45,000 metres of drilling that will utilize six drill rigs.
We look forward to reporting
additional results in the coming weeks and month. We believe that these initial drill results show that the
YLP has excellent potential to become one of the next destinations in North America to define significant
spodumene resources."
Figure 1 - Location of LIFT's Yellowknife Lithium Project. Drilling will focus on the Road Access Group
of pegmatites which are located to the east of the city of Yellowknife along a government-maintained
paved highway. The Fi Southwest pegmatite is located within the Fi mineral lease.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/174718_383b3928c4de7a02_001full.jpg
Discussion of Drill Results
Holes YLP0001 to YLP0005 were targeting the Fi Southwest dyke and have confirmed spodumene
mineralization over 320 metres of strike length, to a depth of approximately 150 metres from surface.
Drilling targeted extensions to depth below surface exposures of 5-30% spodumene mapped and
trenched in the 1970's
1
. Results reported are for intercepts of pegmatite that were sampled at one metre
intervals with assays for lithium averaged over the total intercept length. In some holes one metre
inclusions of host rock metasediments were included in the assayed intervals (i.e., YLP0002: two
intervals; YLP005: one interval). The mineralogy of the dyke is quite simple, consisting of feldspar,
quartz, spodumene and lessor primary muscovite. Spodumene in drill core ranges from 0.5 to 5
centimetre in size with the average crystal size being 2 centimetres. Drilling is ongoing on the remainder
of the dyke, which is currently testing a total of 1,100 metres of strike length to a depth of 250 metres.
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:
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Operations Update
LIFT is pleased to report that the Company has completed construction of a 49-person camp around the
Hidden Lake area which is proximal to the Fi, Shorty, and Ki mineral leases. With increased camp
capacity the Company is currently drilling with three diamond drill rigs
out of the Hidden Lake camp and
is drilling pegmatite targets on the Fi Southwest, Fi Main, Shorty, Ki, and Ki extension on to the Perlis
lease. Two drills have been deployed to the Big East pegmatite and are currently drilling this target. One
additional drill rig will start drilling in August at the Echo target bringing the total drill rig count to six. To
date, 9,246 meters of drilling have been completed over 56 drill holes.
Figure 3 - Cross-section of YLP0004 which intersected 33 meters at 1.39% Li
2
O drilling beneath the
outcropping exposure of the Fi Southwest pegmatite dyke.
To view an enhanced version of this graphic, please visit:
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Figure 4 - Cross-section of YLP0005 which intersected 79 metres at 1.13% Li
2
O drilling beneath the
outcropping exposure of the Fi Southwest pegmatite dyke. Note that YLP0005 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:
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Figure 5 - Down-dip view of the current geological model of the Fi Southwest pegmatite.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/174718_383b3928c4de7a02_005full.jpg
Table 2 - Drill collars table of reported drill holes
Hole No.
Northing
1
Easting
1
Elevation (m)
Length (m)
Azimuth
Dip
YLP0001
6,940,700
371,267
250
228
302
45
YLP0002
6,940,695
371,371
250
131
300
50
YLP0003
6,940,748
371,285
250
110
300
45
YLP0004
6,940,836
371,351
248
102
315
45
YLP0005
6,940,628
371,073
248
150
110
45
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 screening at the lab, all
inserted standards and blanks returned results that were within acceptable limits.
References
1
NI 43-101 Technical Report On the Yellowknife Lithium Project, Northwest Territories, Canada (December 30, 2022) - Thomas Hawkins, PhD, P.Geo.
Filed on SEDAR on January 13, 2023
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
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(collectively, "forward-looking statements"), including those identified by the expressions "anticipate",
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