Li-FT Power Ltd. [TSXV-LIFT; OTCQX-LIFFF; FSE-WS0] reported assays from five drill holes completed at the BIG East, Shorty, Ki and Fi Southwest pegmatites within the Yellowknife lithium project (YLP) located outside the city of Yellowknife, Northwest Terriries. On November 22, 2022, Li-FT entered into an amalgamation agreement with a private company to acquire a 100% interest in the Yellowknife Lithium project.
Drilling has intersected significant intervals of spodumene mineralization, with the following highlights.
Highlights: YLP-0093 returned 21 metres at 1.40% Li2O (BIG East); 7 metres at 1.99% Li2O. YLP-0073 returned 19 m at 1.16% Li2O (Shorty). YLP-0072 returned 17 m at 0.79% Li2O (Ki), including 6 m at 1.11% Li2O, including 5 m at 1.03% Li2O.
YLP-0079 returned 10 m at 1.36% Li2O (Shorty); 4 m at 1.07% Li2O and 1 m at 1.42% Li2O. YLP-0075 returned 10 m at 1.33% Li2O (Fi-Southwest) and 4 m at 1.29% Li2O.
This week’s drill results are for five holes from four different pegmatite dykes, including BIG East (YLP-0093), Shorty (YLP-0073, 79), Ki (YLP-0072), and Fi Southwest (YLP-0075).
The BIG East pegmatite swarm comprises a 35-80 metre wide corridor of parallel-trending dykes that dips around 55 degree-75 degree west and extends for at least 1,100 metres along surface and 200 metres downdip.
Currently, LIFT has reported results from 77 diamond drill holes (13,570 m). To date, 198 diamond drill holes have been completed (34,238 m).
All five 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 per cent of the drilled widths. A collar header table is provided below.
Mineralogical characterization for the YLP pegmatites is in progress through hyper spectral 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’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.