Vancouver, British Columbia--(Newsfile Corp. - August 21, 2023) - Li-FT Power Ltd. (CSE: LIFT) (OTCQX: LIFFF) (FSE: WS0) ("LIFT" or the "Company") is pleased to report assays from 18 drill holes completed at the Fi Southwest and Fi Main 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:
- YLP0006: 80 m at 0.87% Li2O, including 44 m at 1.14% Li2O (Fi Southwest)1
- YLP0007: 60 m at 1.26% Li2O, including 39 m at 1.38% Li2O (Fi Southwest)1
- YLP0011: 26 m at 1.22% Li2O, including 23 m at 1.37% Li2O (Fi Main)
- YLP0017: 30 m at 1.13% Li2O, including 23 m at 1.42% Li2O (Fi Main)
- YLP0023: 30 m at 1.10% Li2O, including 23 m at 1.33% Li2O (Fi Main)
1 Drilled down-dip due to access restriction.
Francis MacDonald, CEO of LIFT comments, "Fi Southwest continues to deliver high-grade spodumene over significant widths. Hole YLP0007 extends the strike length of spodumene mineralization to 335 metres. The first drill holes into the Fi Main pegmatite have delivered some excellent intersects as well. Spodumene percentages are in line with mapping that has been completed on surface. Our operational progress has been significant to date - we have drilled 117 holes into six different pegmatites and have submitted samples to the lab for assaying; results expected to be reported in batches over the coming weeks."
Discussion of Drill Results
Holes YLP0006 and YLP0007 continued drill testing along a 540 metre-long central segment of the Fi Southwest dyke where spodumene makes up 15-25% of the rock at surface (Figure 2 and 3). The holes targeted under historical trenches of up to 37m of 1.37% Li2O and have confirmed spodumene mineralization to 50 metres below surface.
Holes YLP0008 to YLP0022 tested a 600 metre-long section of the Fi Main dyke where it contains 5-30% spodumene over its strike length (Figure 4 and 5). Drilling targeted zones beneath historical trenches of up to 21.9 metres of 1.34% Li2O, we have confirmed spodumene mineralization to 100m below surface exposures. The Fi Southwest and Fi Main drill holes have collectively tested 1,500 metres of strike length of the Fi dyke complex, confirming to a depth of approximately 100 metres, continuity of the spodumene mineralization that has been mapped and trenched on surface. Spodumene is a primary mineral constituent of the dyke along with varying amounts of quartz, potassium feldspar, and muscovite.
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. The Fi Southwest and Fi Main pegmatites are located within the Fi mineral lease.
To view an enhanced version of this graphic, please visit:
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Operations Update
As of August 15, 2023, LIFT has evacuated personel from the Hidden Lake Camp at the YLP (see press release dated August 15, 2023). Drilling operations at the Big East pegmatite have also been paused due to heavy smoke that limits visibility for flying helicopters. LIFT is monitoring the situation closely and plans to begin operations again once it is safe to do so.
Approximately 19,000 metres have been drilled across 117 diamond drill holes targeting the Fi Southwest, Fi Main, Ki, Shorty, Big East and Echo pegmatite targets. LIFT plans to complete 1,500 metres of drilling at the Echo target during the summer 2023 field season.
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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Figure 3 - Cross-section of YLP0007 which intersected 60 metres at 1.26% Li2O drilling beneath the outcropping exposure of the Fi Southwest pegmatite dyke. Note that YLP0007 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:
https://images.newsfilecorp.com/files/8766/177826_ba58f85184b06b00_003full.jpg
Figure 4 - Plan view showing the surface expression of the Fi Main pegmatite with diamond drill holes reported in this press release.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/177826_ba58f85184b06b00_004full.jpg
Figure 5 - Cross-section of YLP0017 which intersected 30 metres at 1.13% Li2O drilling beneath the outcropping exposure of the Fi Main pegmatite dyke.
To view an enhanced version of this graphic, please visit:
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Table 1 - Assay highlights for drill holes reported in this press release
Hole No. | From (m) | To (m) | Interval (m) | Li2O % | Dyke |
YLP0006 | 45 | 125 | 80 | 0.87 | Fi-SW |
Including | 63 | 107 | 44 | 1.14 | |
YLP0007 | 43 | 103 | 60 | 1.26 | Fi-SW |
Including | 64 | 103 | 39 | 1.38 | |
and | 119 | 130 | 11 | 0.18 | |
YLP0008 | 5 | 25 | 20 | 0.89 | Fi-Main |
Including | 15 | 23 | 8 | 1.74 | |
and | 86 | 94 | 8 | 1.07 | |
Including | 89 | 93 | 5 | 1.61 | |
and | 100 | 107 | 7 | 0.73 | |
Including | 101 | 103 | 2 | 1.55 | |
YLP0009 | 19 | 52 | 33 | 0.28 | Fi-Main |
Including | 43 | 46 | 3 | 1.08 | |
YLP0010 | 64 | 80 | 16 | 0.82 | Fi-Main |
Including | 66 | 75 | 9 | 1.41 | |
and | 128 | 144 | 16 | 0.61 | |
Including | 135 | 140 | 5 | 1.32 | |
YLP0011 | 57 | 83 | 26 | 1.22 | Fi-Main |
Including | 59 | 82 | 23 | 1.37 | |
YLP0012 | 35 | 58 | 23 | 0.70 | Fi-Main |
Including | 45 | 55 | 10 | 1.12 | |
and | 122 | 146 | 24 | 0.50 | |
Including | 139 | 145 | 6 | 1.14 | |
YLP0013 | 53 | 67 | 14 | 0.65 | Fi-Main |
Including | 56 | 61 | 5 | 1.50 | |
and | 123 | 142 | 19 | 0.05 | |
YLP0014 | 67 | 90 | 23 | 0.74 | Fi-Main |
Including | 73 | 86 | 13 | 1.21 | |
YLP0015 | 84 | 111 | 27 | 1.00 | Fi-Main |
Including | 98 | 108 | 10 | 1.84 | |
YLP0016 | 61 | 85 | 24 | 0.36 | Fi-Main |
and | 150 | 161 | 11 | 0.42 | |
Including | 156 | 159 | 3 | 1.24 | |
YLP0017 | 64 | 94 | 30 | 1.13 | Fi-Main |
Including | 69 | 92 | 23 | 1.42 | |
YLP0018 | 16 | 28 | 12 | 0.74 | Fi-Main |
Including | 19 | 24 | 5 | 1.18 | |
and | 87 | 106 | 19 | 0.42 | |
Including | 97 | 102 | 5 | 1.04 | |
YLP0019 | 368 | 371 | 3 | 0.02 | Fi-Main |
and | 403 | 409 | 6 | 0.01 | |
YLP0020 | 250 | 255 | 5 | 0.49 | Fi-Main |
YLP0021 | 211 | 255 | 44 | 0.09 | Fi-Main |
YLP0022 | 289 | 308 | 19 | 0.08 | Fi-Main |
and | 312 | 322 | 10 | 0.05 | |
YLP0023 | 78 | 108 | 30 | 1.101 | Fi-Main |
Including | 83 | 106 | 23 | 1.33 | |
Including | 87 | 104 | 17 | 1.42 |
1 Assays for hole YLP0023 are preliminary, pending receipt of final assay certificate
Table 2 - Drill collars table of reported drill holes in this press release
Hole No. | Northing1 | Easting1 | Elevation (m) | Length (m) | Azimuth | Dip | Dyke |
YLP0006 | 6940681 | 371107 | 223.6 | 149 | 120 | 45 | Fi SW |
YLP0007 | 6940724 | 371134 | 224.7 | 146 | 120 | 45 | Fi SW |
YLP0008 | 6941432 | 371769 | 249.2 | 123 | 97 | 45 | Fi Main |
YLP0009 | 6941720 | 371825 | 247.9 | 68 | 96 | 45 | Fi Main |
YLP0010 | 6941331 | 371722 | 257.1 | 149 | 95 | 56 | Fi Main |
YLP0011 | 6941673 | 371784 | 256.9 | 129 | 94 | 48 | Fi Main |
YLP0012 | 6941389 | 371740 | 256.8 | 159 | 95 | 60 | Fi Main |
YLP0013 | 6941630 | 371774 | 257.0 | 158 | 100 | 50 | Fi Main |
YLP0014 | 6941436 | 371719 | 256.5 | 160 | 97 | 53 | Fi Main |
YLP0015 | 6941721 | 371770 | 256.4 | 125 | 98 | 50 | Fi Main |