16 April 2024
April 16, 2024 – Vancouver, B.C., Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV: LIFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to report assays from 17 drill holes completed at the Echo, Fi Main, & Fi Southwest pegmatites within the Yellowknife Lithium Project (“YLP”) located outside the city of Yellowknife, Northwest Territories (Figure 1). Drilling intersected significant intervals of spodumene mineralization, with the following highlights:
Highlights:
Discussion of Results
This news release provides results for 17 drill holes (3,729 m) from LIFT’s ongoing 2024 winter drilling program. Seven holes are reported from the Echo pegmatite complex, eight holes from Fi Main, and two from Fi Southwest (Fi-SW). A table of composite calculations, general comments related to this discussion, and a table of collar headers are provided towards the end of this section.
Dave Smithson, SVP, Geology of LIFT comments, “The Echo Pegmatite System continues to deliver impressive grades and widths close to surface this week. Hole 259 is particularly significant as it extends spodumene mineralization another 100 m down-dip from 10 m of 1.29% Li2O and 16 m of 1.26% Li2O drilled in hole 216, last summer. Here, the dykes merge into a single 43 m-wide dyke averaging 0.85% Li2O (Inc. 24 m of 1.33% Li2O), only 75 m from the surface. This new information confirms for the first time the low-angle nature of mineralization, emphasising the potential for Echo to deliver accessible tonnes and grades close to surface. We are very excited to see what happens next as we mobilise our drill rigs to test outward and downward from these first outstanding results.”
Echo Pegmatite System
The Echo pegmatite complex comprises a fanning splay of moderate to gently dipping dykes for 0.5 km to the northwest (“Echo splay”). In addition, the Echo Splay is connected to a steeply dipping, northwest-trending, feeder dyke (“Echo feeder”). The dyke complex has a total strike length of over 1.0 km. The feeder dyke is 10-15 m wide whereas the gently dipping dykes in the splay are thicker, ranging from 10-25 m.
Three (YLP-0259, 0212, 0220) holes were drilled on the Echo splay. YLP-0259 tested between the northeastern part of the splay approximately 150-200 m from where it merges, between 35-75 m below the surface, and stepped back 100 m and 150 m, respectively, from previously released drill holes YLP-0216 (1.35% Li2O over 36 m from 3 intervals in 78 m) and YLP-0128 (0.94% Li2O over 22 m from 2 intervals in 51 m). New drilling intersected a 43 m wide pegmatite that returned a wall-to-wall grade of 0.85% Li2O that includes 24 m of 1.33% Li2O. There is no drilling along strike to the northwest of this intersection (Table 1 & 2, Figures 2 & 3).
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