Li-FT Power drills 1.13% Li2O over 79 metres 1.13% Li2O at Yellowknife project, Northwest Territories
Li-FT Power Ltd. [LIFT-CSE; LIFFF-OTC; WS0-FSE] reported initial assays from the first five drill holes completed at the Fi Southwest pegmatite within its Yellowknife lithium project (YLP) located outside the city of Yellowknife, Northwest Territories.
Drill results have confirmed spodumene mineralization over 320 metres of strike length, to a depth of approximately 150 metres from surface at the Fi Southwest dike which remains open in all directions. Drilling is continuing on the remainder of the dike, which is currently testing a total of 1,100 metres of strike length to a depth of 250 metres.
Highlights included drill hole YLP0001 that returned 35 metres of 1.30% Li2O, including 27 metres of 1.58% Li2O. LYP0002 returned 34 metres of 0.34% Li2O. YLP0003 returned 39 metres of 1.43% Li2O, including 35 metres of 1.57% Li2O. YLP0004 returned 33 metres of 1.39% Li2O, including 29 metres of 1.55% Li2O. YLP005 returned 79 metres of 1.13% Li2O, including 56 metres of 1.42% Li2O.
Francis MacDonald, cCEO, commented: “We are very encouraged with these first drill results at the Yellowknife lithium project. The widths and grades of lithium and spodumene intersected in these holes are similar to what was historically reported in the 1950s to 1980s. Eight different pegmatites will be drilled this summer with 45,000 metres of drilling that will utilize six drill rigs. We look forward to reporting additional results in the coming weeks and month. We believe that these initial drill results show that the YLP has excellent potential to become one of the next destinations in North America to define significant spodumene resources.”
Holes YLP0001 to YLP0005 were targeting the Fi Southwest dike and have confirmed spodumene mineralization over 320 metres of strike length, to a depth of approximately 150 metres from surface. Drilling targeted extensions to depth below surface exposures of 5% to 30% spodumene mapped and trenched in the 1970s.
Results reported are for intercepts of pegmatite that were sampled at one metre intervals with assays for lithium averaged over the total intercept length. In some holes one-metre inclusions of host rock metasediments were included in the assayed intervals (for example, YLP0002: two intervals; YLP005: one interval). Drilling is continuing on the remainder of the dike, which is currently testing a total of 1,100 metres of strike length to a depth of 250 metres.
Li-FT is pleased to report that the company has completed construction of a 49-person camp around the Hidden Lake area which is proximal to the Fi, Shorty and Ki mineral leases. With increased camp capacity the company is currently drilling with three diamond drill rigs out of the Hidden Lake camp and is drilling pegmatite targets on the Fi Southwest, Fi Main, Shorty, Ki and Ki extension on to the Perlis lease. Two drills have been deployed to the Big East pegmatite and are currently drilling this target. One additional drill rig will start drilling in August at the Echo target bringing the total drill rig count to six. To date, 9,246 metres of drilling have been completed over 56 drill holes.
Li-FT’s flagship project is the Yellowknife lithium project located in Northwest Territories, Canada. Li-FT 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 field.