Li-FT Power Ltd. [TSXV-LIFT; OTCQX-LIFFF; FSE-WS0] reported assays from eight drill holes completed at the Echo, Fi-SW, Ki and BIG East pegmatites within the Yellowknife lithium project (YLP) located outside the city of Yellowknife, Northwest Territories. Drilling has intersected significant intervals of spodumene mineralization, with the following highlights:
Highlights: YLP-0121 returned 28 metres at 1.70% Li2O (BIG East); 6 metres at 0.97% Li2O.
YLP-0114 returned 17 metres at 1.01% Li2O (Ki); including 5 metres at 1.46% Li2O. YLP-0116: returned 13 metres at 1.48% Li2O (Echo); 9 metres at 0.55% Li2O; including 2 metres at 1.86% Li2O.
YLP-0124 returned 12 metres at 1.52% Li2O (Echo). YLP-0112 returned 11 metres at 1.42% Li2O (Echo);
5 metres at 1.52% Li2O. YLP-0106 returned 10 metres at 1.41% Li2O (Echo).
Francis MacDonald, CEO, commented, “BIG East continues to deliver wide, high-grade intersections of spodumene: 28 metres at 1.70% is phenomenal. We have a nice high-grade pod of mineralization developing at depth. Echo is proving up to be very interesting with stacked pegmatites that are shallowly dipping. This week’s results show greater than 10-metre widths with excellent grades. We are just scratching the surface, having only completed 9 holes in the summer of 2023 at Echo. Finally, Ki also continues to return consistent grades and widths.”
This week’s drill results are for eight holes drilled on four different pegmatite complexes, with four holes from Echo (YLP-0106, 0112, 0116, 0124), two holes from BIG East (YLP-0121, -0122), and one hole each from Ki (YLP-0114) and Fi Southwest (YLP-0113).
The Echo pegmatite complex comprises a north-northwest trending corridor, at least 1,000 metres in length and 450 metres in width, with numerous trend-parallel and oblique (mostly northwest-trending) dykes. Individual dykes range from gently to steeply east dipping and are up to 25 metres wide.
All four holes described below were collared into a pegmatite swarm formed by three parallel, oblique-striking, and gently dipping pegmatite intervals, each typically 10-30 metres wide and separated by ~20-50 metres of country rock.
The company has concluded its 2023 drill program at the Yellowknife Lithium Project with 34,238 metres completed. Currently, LIFT has reported results from 116 out of 198 diamond drill holes (20,443 m).
All eight holes were drilled broadly perpendicular to the dyke orientation so that the true thickness of reported intercepts will range somewhere between 65-100% of the drilled widths.
Mineralogical characterization for the YLP pegmatites is in progress through hyperspectral core scanning and X-ray diffraction work. Visual core logging indicates that the predominant host mineral is spodumene.
LIFT also reported that subject to acceptance by the TSXV Exchange, it has engaged the marketing services of Alpha Media Group, LLC, Virtus Media Group, LLC & Think Ink Marketing.
The engagement will extend for 3 months, to commence when authorized by the company. Alpha Media Group will be paid a fee of US $200,000, Virtus Media Group a fee of US $150,000, and Think Ink Marketing a fee of US $120,000, payable in advance of the initiation of services. Neither Alpha Media Group, Virtus Media Group or Think Ink Marketing nor any of their principals currently own any interest, directly or indirectly, in the company.
The company’s flagship project is the Yellowknife Lithium Project. 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 Group.
