4 October 2023
October 4, 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:
Francis MacDonald, CEO of LIFT comments, “We continue to be impressed with the amount of spodumene pegmatite being intersected at depth at BIG East. The pegmatite dyke system is much larger than we anticipated based on the surface expression. YLP0049 intersected more than 35 meters of pegmatite with an aggregate grade of 1.20% Li2O.
At Fi Southwest, we have constrained the southwestern portion of spodumene within the pegmatite dyke, but also we have opened up a new zone towards the northeast with YLP0051 that intersected two zones for a total width of 24 meters. We believe mineralization is plunging towards the northeast, which opens up an exciting new area to be drilled in the future which has little to no spodumene pegmatite on surface”.
Discussion of Drill Results
Drill hole YLP0042 intercepted 22 metres of 0.98% Li2O from 60 metres. The hole is located near the north end of Fi Southwest dyke. Hole YLP0051, also located at the north end of outcropping Fi Southwest dyke, intercepted 15 metres of 1.03% Li2O from 74 metres, including 10 metes of 1.34% Li2O from 78 metres, as well as 9 metres of 1.03% Li2O in a second dyke from 113 metres, including 6 metres of 1.28% Li2O from 115 metes. Hole YLP0044, collared near the southern terminus of Fi Southwest exposure intersected two intervals of pegmatite for 7 metres from 62 metres and 43 metres from 88 metres that averaged 0.04% Li2O and 0.03% Li2O, respectively (Table 1 and Figures 2 and 3).
Hole YLP0048 was collared in the center of the Shorty pegmatite dyke where it intersected three intervals of the Shorty pegmatite dyke, two of which were spodumene-bearing. The hole intercepted 12 metres of 1.11% Li2O from 45 metres, including 10 metres of 1.26% Li2O from 46 metres, and 10 metres of 1.46% Li2O from 65 metres, including 8 metres of 1.71% Li2O from 65 metres (Table 1 and Figures 4 and 5).
The BIG East pegmatite was tested by hole YLP0049, which also had three pegmatite intervals. The hole collared in pegmatite at 0.7 metres for 12.3 metres of 1.28% Li2O, and 9 metres of 0.66% Li2O from 24 metres, as well as 14 metres of 1.50% Li2O from 38 metres, including 12 metres of 1.73% Li2O from 39 metres (Table 1, Figures 6 and 7).
Spodumene is the primary lithium mineral constituent of the dykes and occurs with varying amounts of quartz, feldspar, and muscovite. All the dykes are in amphibolite-grade Burwash Formation metasediments.
Drilling Progress Update
Currently, LIFT has reported results from 50 drill holes (8,812 meters). To date, 139 diamond drill holes have been completed (24,500 meters).