LIFT Intersects 34 m at 1.35% Li2O at the Fi Southwest pegmatite, Yellowknife Lithium Project, NWT

19 September 2023

September 19, 2023 – Vancouver, B.C., Li-FT Power Ltd. (“LIFT” or the “Company”) (CSE: LIFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to report assays from 5 drill holes completed at the Fi Southwest, 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:

• YLP0038: 34 m at 1.35% Li₂O, including 27 m at 1.53% Li₂O (Fi Southwest)
• YLP0036: 12 m at 1.19% Li₂O, including 9 m at 1.46% Li₂O (Shorty)
• YLP0039: 13 m at 1.05% Li₂O, and (BIG East)
                    11 m at 1.28% Li₂O
• YLP0045: 12 m at 1.05% Li₂O, including 8 m at 1.51% Li₂O (BIG East)
            and: 13 m at 0.71% Li₂O, including 4 m at 1.59% Li₂O
            and: 16 m at 0.92% Li₂O, including 13 m at 1.10% Li₂O

Francis MacDonald, CEO of LIFT comments, "Fi Southwest and Shorty pegmatites continue to produce excellent drill results with demonstrable quantities of spodumene. The surprise for us is that BIG East has more spodumene pegmatite material than expected, based on outcropping surface expression.  Although grade is partially diluted by internal sections of wallrock, the overall amount of pegmatite dyke material at BIG East could add more tonnage than expected."

Discussion of Drill Results

Drill hole YLP0036 tested 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 was drilled into mid-section of the dyke where it splays into three branches with intercepts ranging from 4 metres to 12 metres. The thicker middle dyke intercepted 12 metres of 1.19% Li₂O from 59 metres down the hole with a 9 metre interval from 62 metres averaging 1.46 % Li₂O (Table 1; Figures 2 & 3).

Drill holes YLP0038 and YLP0041 were drilled in the Fi Southwest dyke. Hole YLP0038 intercepted 34 metres of 1.35% Li₂O from 67 metres, including 27 metres of 1.53% Li₂O from 72 metres. Hole YLP0041 drilled at the south end of the dyke intercepted a 31-metre interval of pegmatite from 66 metres, which was essentially barren (Table 1; Figures 4 & 5).

 

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.

Drill holes YLP0039 and YLP0045 tested the BIG East dyke swarm which is exposed over 1,300 meters as a 120 metre-wide corridor of parallel-trending dykes.  The holes were drilled 50 metres apart under the central section of the dyke swarm to 90 metres below surface.  Hole YLP0039 intercepted two dykes, the upper one with 13 metres averaging 1.05 % Li₂O from 66 metres, and the lower one 30 metres averaging 0.87% Li₂O from 92 metres including 11 metres averaging 1.28% Li₂O from 111 metres. Hole YLP0045 is also interpreted to have intercepted two dykes. The intercept in the upper dyke was very similar to that in YLP0039, averaging 1.05% Li₂O over 12 metres from 66 metres, including 8 metres averaging 1.51% Li₂O from 67 metres. The lower dyke is interpreted to have intercepted 33 m of pegmatite with a 4 metre inclusion of metasediments in the middle. The upper section of that dyke averages 13 metres of 0.71% Li₂O from 96 metres, including 4 metres of 1.59% Li₂O from 104 metres; the lower section averages 0.92% Li₂O for 16 metres from 113 metres, including 13 metres of 1.10% Li₂O from 115 metres (Table 1; Figures 6 & 7). Spodumene is the primary lithium mineral constituent of the dyke swarm occurring with varying amounts of quartz, feldspar, and muscovite.

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