Li-FT Power Ltd. [TSXV-LIFT; OTCQX-LIFFF; FSE-WS0] has released assays from eight drill holes completed at the Ki, Shorty and Fi-SW 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-0102 returned 26 metres at 1.14% Li2O, (Fi SW), including 12 metres at 1.33% Li2O and including 7 m at 1.42% Li2O.
YLP-0097 returned 23 metres at 1.03% Li2O, (Shorty), including 11 metres at 1.69% Li2O and 10 metres at 0.84% Li2O, including 3 metres at 1.73% Li2O. YLP-0088 returned 20 metres at 1.52% Li2O, (Shorty) and 6 metres at 1.04% Li2O.
YLP-0104 returned 12 metres at 1.58% Li2O, (Ki). YLP-0096 returned 12 metres at 1.38% Li2O, (Ki) and 1 metre at 1.13% Li2O. YLP-0110 returned 10 metres at 1.13% Li2O, (Ki), including 5 metres at 1.51% Li2O and 7 metres at 1.00% Li2O.
YLP-0065 returned 10 metres at 1.16% Li2O, (Shorty), including 6 metres at 1.64% Li2O. YLP-0095 returned 10 metres at 0.92% Li2O, (Fi SW), including 4 metres at 1.63% Li2O.
This week’s drill results are for eight holes from three different pegmatites, including Shorty (YLP-0065, 88, 97), Fi Southwest (YLP-0095, 102), and Ki (YLP-0096, 104, 110).
Drilling has been thus far focused on the Road Access Group of pegmatites located east of the city of Yellowknife along a government-maintained paved highway, as well as the Echo target in the Further Afield Group. Fi Southwest
The Shorty pegmatite is one of several dikes occurring within a broader north-of-northeast striking corridor. Drill intercepts of Shorty shows that it comprises a single 10-25 m wide dike or 2-4 dikes with a similar cumulative width spread over 40-95 metres of core length. The pegmatite is visible for at least 700 metres on surface and dips 50 degree-70 degree to the west-northwest.
The Company has concluded its 2023 drill program at the Yellowknife Lithium Project with 34,238 metres completed. Currently, LIFT has reported results from 100 out of 198 diamond drill holes (17,624 m).
All eight holes described in this news release were drilled broadly perpendicular to the dike 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 whereas other significant non-lithium bearing phases include quartz and feldspar.
LIFT has engaged Ptolemy Capital Limited, trading as Crux Investor, to provide distribution and dissemination of video content for the company. Effective as of June 01, 2023, Crux will receive consideration of US$6,500/month, payable quarterly in advance, for an initial 6-month term which may be extended for additional 3-month periods.
