January 3, 2024 – Vancouver, B.C., Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV:LIFT) (OTCQX:LIFFF) (Frankfurt:WS0) is pleased to report assays from 8 drill holes completed at the BIG East, Echo, Shorty, & BIG West 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:

• YLP-0117: 26 m at 1.56% Li₂O, (BIG East)
• YLP-0129: 18 m at 0.95% Li₂O, (BIG East)
    including:  4 m at 1.29% Li₂O
  and including:   5 m at 1.13% Li₂O
• YLP-0128: 10 m at 1.24% Li₂O, (Echo)
             and:  12 m at 0.69% Li₂O
  including:  5 m at 1.20% Li₂O
• YLP-0126: 10 m at 1.00% Li₂O, (Shorty)
    including:   4 m at 1.55% Li₂O

Francis MacDonald, CEO of LIFT comments, “The continuity of high-grade spodumene mineralization at BIG East is really shaping up. Also, we’ve intersected the BIG East system in YLP-0129, which looks like a faulted offset of the pegmatite. This opens up additional strike length to the northeast. Drilling at Echo intersected two dykes > 10 m width that are shallowly dipping; we continue to be excited about the near-surface tonnage potential at Echo.”

Discussion of Results

This week’s drill results are for eight holes drilled on four different pegmatite complexes, with three holes reported from BIG East (YLP-0117, -0127, -0129), two holes each from Shorty (YLP-0119, -0126) and BIG West (YLP-0131, -0132), and one hole from Echo (YLP-0128). A table of composite calculations, general comments related to this discussion, and a table of collar headers are provided towards the end of this section.

Figure 1 – Location of LIFT’s Yellowknife Lithium Project. Drilling has been thus far 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.

BIG East Pegmatite

The BIG East pegmatite complex comprises a corridor of parallel-trending dykes and dyke swarms that are generally north-northeast striking and dipping 55°-75° degrees to the west. The main dyke swarm is exposed for at least 1,300 m of strike length and ranges from 10-100 m wide whereas a smaller swarm, with ~400 m of along-strike continuity, is stepped out 400 m to the north-northwest (NNW) to form an en échelon-like array with the main swarm.

YLP-0117 was designed to test the main swarm in the BIG East corridor, approximately 500 m from its southern mapped extent, and 150 m vertically beneath the surface, as well as 100 m downdip of previously released YLP-0121 (cumulative 34 m of pegmatite averaging 1.57% Li₂O) and 150 m downdip of YLP-0043 (cumulative 39 m of pegmatite averaging 1.12% Li₂O). Drilling intersected a single, 36 m wide, pegmatite dyke that returned an assay composite of 1.56% Li₂O over 26 m.

YLP-0127 was drilled on the NNW step-out, approximately 100 m from its northern mapped extent and 50 m vertically beneath the surface. Drilling intersected an 18 m wide pegmatite dyke flanked by two 1-2 m wide dykes to the west, with all dykes returning negligible grades.

YLP-0129 was also drilled on this NNW step-out, approximately 50 m south of YLP-0127, 100 m from its southern mapped extent, and 50 m vertically beneath the surface. Drilling intersected a single 21 m wide pegmatite dyke that returned an assay composite of 0.95% Li₂O over 18 m with subintervals that include 1.29% Li₂O over 4 m and 1.13% Li₂O over 5 m (Table 1 and 2, Figures 2, 3 & 4).

Figure 2 – Plan view showing the surface expression of the BIG East pegmatite with diamond drill holes reported in this press release.

Figure 3 – Cross-section illustrating YLP-0117 with results as shown in the BIG East pegmatite dyke with a 26 m interval of 1.56% Li₂O.

Figure 4 – Cross-section illustrating YLP-0129 with results as shown in the BIG East pegmatite dyke with an 18 m interval of 0.95% Li₂O.

Echo Pegmatite

The Echo pegmatite complex comprises a north-northwest trending corridor, at least 1,000 m in length and 450 m 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 m wide. The hole described below was collared into a part of the complex comprising three parallel, oblique-striking, and gently dipping pegmatite intervals (upper, mid, lower) that all merge, to the southeast, into a wider, more northwesterly-striking, and more steeply dipping dyke.

YLP-0128 tested the middle and lower dykes approximately 150 m from their northern mapped extent as well as, respectively, <25 m and 50 m vertically beneath the surface. Drilling intersected a 10 m wide middle dyke that returned an assay composite of 1.24% Li₂O over 10 m as well as a 12 m wide lower dyke that assayed 0.69% Li₂O over 12 m with a subinterval of 1.20% Li₂O over 5 m (Table 1 & 2, Figures 5 & 6).

Figure 5 – Plan view showing the surface expression of the Echo pegmatite with diamond drill holes reported in this press release.

Figure 6 – Cross-section of YLP-0128 which intersected the Echo pegmatite dyke with a 10 m interval of 1.24% Li₂O.

Shorty Pegmatite

The Shorty pegmatite is one of several dykes occurring within a north-of-northeast striking corridor. Drill intercepts of Shorty show that it in some places it is formed by a single 10-25 m wide dyke whereas elsewhere it comprises 2-4 dykes with a similar cumulative width spread over 40-95 m of core length. The pegmatite is visible for at least 700 m on surface and dips 50°-70° to the west-northwest.

YLP-0119 was designed to test the Shorty pegmatite approximately 300 m from its northern mapped extent and 200 m vertically beneath the surface, as well as 50 m downdip of YLP-0040 (1.26% Li₂O over 8 m) and 150 m downdip of YLP-0048 (cumulative 22 m of pegmatite averaging 1.27% Li₂O). Drilling intersected a single 22 m wide pegmatite dyke that returned negligible assays.

YLP-0126 was designed to test the Shorty pegmatite just 100 m from its southern mapped extent and 25 m vertically below the surface. Drilling intersected a 12 m wide pegmatite flanked by several 4 m wide dykes on either side, for cumulative pegmatite width of 28 m over 77 m of drill core. Assays from the thickest dyke returned a composite of 1.00% Li₂O over 10 m, including 1.55% Li₂O over 4 m, whereas the flanking dykes returned negligible grade (Table 1 and 2, Figures 7 & 8).

Figure 7 – Plan view showing the surface expression of the Shorty pegmatite with diamond drill holes reported in this press release.

Figure 8 –Cross-section of YLP-0126 which intersected the Shorty pegmatite dyke with a 10 m interval of 1.00% Li₂O. 

BIG West Pegmatite

This news release provides results for the first two holes drilled on the BIG West pegmatite complex, which comprises a northeast-trending corridor of parallel-trending dykes. This corridor is exposed for at least 1,500 m along strike and ranges from 70-150 m in width.

YLP-0131 tested the BIG West pegmatite approximately 150 m from its southern mapped extent and 150 m vertically below the surface. Drilling intersected a single 7 m wide pegmatite dyke that returned 0.50% Li₂O over 7 m, including 1.26% Li₂O over 2 m.

YLP-0132 was collared 200 m due north of YLP-0131 to test the BIG West pegmatite approximately 350 m from its southern mapped extent and 150-200 m vertically beneath the surface. Drilling intersected 2 m and 15 m wide pegmatite dykes between 208-232 m core depth, with both dykes returning negligible grades (Table 1 and 2, Figure 9).

Figure 9 – Plan view showing the surface expression of the BIG West pegmatite with diamond drill holes reported in this press release.

Table 1 – Assay highlights for drill holes reported in this press release.

Drilling Progress Update

The Company has concluded its 2023 drill program at the Yellowknife Lithium Project with 34,238 m completed. Currently, LIFT has reported results from 132 out of 198 diamond drill holes (23,264 m).

General Statements

All eight holes described in this news release 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. A collar header table is provided below.

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.

Table 2 – Drill collars table of reported drill holes in this press release

QA/QC & Core Sampling Protocols

All drill core samples were collected under the supervision of LIFT employees and contractors. Drill core was transported from the drill platform to the core processing facility where it was logged, photographed, and split by diamond saw prior to being sampled. Samples were then bagged, and blanks and certified reference materials were inserted at regular intervals. Field duplicates consisting of quarter-cut core samples were also included in the sample runs. Groups of samples were placed in large bags, sealed with numbered tags in order to maintain a chain-of-custody, and transported from LIFT’s core logging facility to ALS Labs (“ALS”) laboratory in Yellowknife, Northwest Territories.

Sample preparation and analytical work for this drill program were carried out by ALS. Samples were prepared for analysis according to ALS method CRU31: individual samples were crushed to 70% passing through 2 mm (10 mesh) screen; a 1,000-gram sub-sample was riffle split (SPL-21) and then pulverized (PUL-32) such that 85% passed through 75 micron (200 mesh) screen. A 0.2-gram sub-sample of the pulverized material was then dissolved in a sodium peroxide solution and analysed for lithium according to ALS method ME-ICP82b. Another 0.2-gram sub-sample of the pulverized material was analysed for 53 elements according to ALS method ME-MS89L. All results passed the QA/QC screening at the lab, all inserted standards and blanks returned results that were within acceptable limits.

Qualified Person

The disclosure in this news release of scientific and technical information regarding LIFT’s mineral properties has been reviewed and approved by Ron Voordouw, Ph.D., P.Geo., Partner, Director Geoscience, Equity Exploration Consultants Ltd., and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) and member in good standing with the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists (NAPEG) (Geologist Registration number: L5245).

About LIFT

LIFT is a mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects located in Canada. The Company’s flagship project is the Yellowknife Lithium Project located in Northwest Territories, Canada. 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.

For further information, please contact:

Francis MacDonald
Chief Executive Officer
Tel:  + 1.604.609.6185
Email: info@li-ft.com

Website: www.li-ft.com

Daniel Gordon
Investor Relations
Tel: +1.604.609.6185
Email: investors@li-ft.com

Cautionary Statement Regarding Forward-Looking Information

Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements and information reflect management’s current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release.

Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under “Risk Factors and Uncertainties” in the Company’s latest annual information form filed on March 30, 2023, which is available under the Company’s SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Featured Image @ FreePik

Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

2) The Article was issued on behalf of and sponsored by, Li-FT Power Ltd. Market Jar Media Inc. has or expects to receive from Li-FT Power Ltd.’s Digital Marketing Agency of Record (Native Ads Inc.) ninety-six thousand five hundred American dollars for 26 days (20 business days).

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. Market Jar has not independently verified or otherwise investigated all such information. None of Market Jar or any of their respective affiliates, guarantee the accuracy or completeness of any such information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. All investments carry risk and each reader is encouraged to consult with his or her individual financial professional. Any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.’s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on PressReach.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com.

5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.

6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Li-FT Power Ltd.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Li-FT Power Ltd.’s industry; (b) market opportunity; (c) Li-FT Power Ltd.’s business plans and strategies; (d) services that Li-FT Power Ltd. intends to offer; (e) Li-FT Power Ltd.’s milestone projections and targets; (f) Li-FT Power Ltd.’s expectations regarding receipt of approval for regulatory applications; (g) Li-FT Power Ltd.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Li-FT Power Ltd.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Li-FT Power Ltd.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Li-FT Power Ltd.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) Li-FT Power Ltd.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Li-FT Power Ltd. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Li-FT Power Ltd.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Li-FT Power Ltd.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Li-FT Power Ltd.’s business operations (e) Li-FT Power Ltd. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Li-FT Power Ltd. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Li-FT Power Ltd. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Li-FT Power Ltd. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Li-FT Power Ltd. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Li-FT Power Ltd. or such entities and are not necessarily indicative of future performance of Li-FT Power Ltd. or such entities.

8) Investing is risky. The information provided in this article should not be considered as a substitute for professional financial consultation. Users should be aware that investing in any form carries inherent risks, and as such, there is a possibility of losing some or all of their investment. The value of investments can fluctuate significantly within a short period, and investors must understand that past performance is not indicative of future results. Additionally, users should exercise caution as transactions involving investments may be irreversible, even in cases of fraud or accidental actions. It is crucial to acknowledge that rapidly evolving laws and technical issues can have adverse effects on the usability, transferability, exchangeability, and value of investments. Furthermore, users must be cognizant of potential security risks associated with their investment activities. Individuals are strongly encouraged to conduct thorough research, seek professional advice, and carefully evaluate their risk tolerance before engaging in any investment endeavors. Market Jar Media Inc. is neither an investment adviser nor a broker-dealer. The information presented on the website is provided for informative purposes only and is not to be treated as a recommendation to make any specific investment. No such information on PressReach.com constitutes advice or a recommendation.

• Featured News RSS feed
• Investing News RSS feed
• Daily Press Releases RSS feed
• Trading Tips RSS feed
• Investing Videos RSS feed

Follow PressReach on Twitter
Follow PressReach on TikTok
Follow PressReach on Instagram
Subscribe to us on Youtube