YLP Intersected Intervals Of Spodumene Mineralization

VANCOUVER - Li-FT Power Ltd. reported assays from 8 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.

The Fi Southwest (SW) pegmatite is one of several dykes occurring within a north-of-northeast striking dyke corridor. Drilling of Fi SW shows that it ranges from a single 20-40 m wide dyke to 2-3 dykes of similar cumulative width within a 50-70 m wide corridor. The Fi SW dykes are visible for at least 1,100 m on surface and dips 60°-80° to the east-southeast.

YLP-0095 was designed to test Fi SW just north of its mapped extent and 175 m vertically below the surface. Drilling intersected two 1-7 m wide dykes between 160 to 175 m hole depth followed by a 10 m wide dyke starting at 225 m depth. The lower-most dyke returned 0.92% Li2O over 10 m, including 1.63% Li2O over 4 m, whereas the upper two dykes returned negligible grade. These composites lie 50 m and 150 m downdip, respectively, of correlative dykes in YLP-0090 that returned negligible grade.

YLP-0102 was collared 250 m south of YLP-0095 to test Fi SW pegmatite approximately 250 m from its northern end, 150 m vertically below the surface, and 100 m downdip of YLP-0042 (1.36% Li2O over 11 m). Drilling intersected a single 29 m wide dyke that returned a composite of 1.14% Li2O over 26 m that includes an upper subinterval of 1.42% Li2O over 7 m and a lower one of 1.33% Li2O over 12 m.

The Shorty pegmatite is one of several dykes occurring within a broader north-of-northeast striking corridor. Drill intercepts of Shorty shows that it comprises a single 10-25 m wide dyke or 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-0065 tested the Shorty pegmatite approximately 150 m from its southern end and 50 m vertically below the surface. Drilling intersected three pegmatites over 54 m of core length, comprising a 5 m wide upper dyke, 11 m central one, and 1 m wide lower dyke. Assay composites for the central dyke returned 1.16% Li2O over 10 m, including 1.64% Li2O over 6 m, whereas the upper and lower dykes returned negligible grade.

YLP-0088 was designed to test Shorty approximately 150 m from its northern end, 50 m vertically beneath the surface, and 25 m downdip of previously reported YLP-0082 (1.07% Li2O over 15 m). Drilling intersected three pegmatite dykes over 79 m of core length, comprising relatively wide upper (12 m) and lower (24 m) dykes separated by a 43 m interval of mostly country rock cut by a single 2 m wide pegmatite. Assays returned 1.52% Li2O over 20 m for the lower dyke, 1.04% Li2O over 6 m for the upper one, and negligible results for the central 2 m wide dyke.

YLP-0097 tested the Shorty pegmatite100 m from its northern mapped extent and 150 m vertically below the surface. Drilling intersected an upper dyke that is 10 m wide and a lower one of 28 m that are separated by 56 m of country rock. Assay composites for the upper dyke returned 0.84% Li2O over 10 m, which includes 1.73% Li2O over 3 m, whereas the lower dyke returned 1.03% Li2O over 23 m including 1.69% Li2O over 11 m. These composites each lie 75-100 m downdip of two dykes intersected in previously released YLP-0091 (1.28% Li2O over 17 m and 1.01% Li2O over 16 m).

The Ki pegmatite is one of several subparallel dykes that occur within a longer north-of-northwest trending corridor. Drill intercepts of Ki typically comprise a thick “main” dyke flanked by one or more narrower (1-5 m wide) dykes. The Ki dyke is visible for at least 1,000 m on surface and dips between 65°-80° to the southwest.

YLP-0096 tested Ki pegmatite approximately 300 m from its southeastern end, 50 m vertically beneath the surface, and 50 m downdip of previously reported YLP-0069 (0.96% Li2O over 10 m). Drilling intersected a 19 m wide pegmatite dyke flanked by two <3 m wide dykes on its’ western side. The thick dyke returned an assay composite of 1.38% Li2O over 12 m whereas the nearest flanking dykes assayed 1.13% Li2O over 1 m. The more distal flanking dyke returned negligible grade.

YLP-0104 was designed to test the Ki pegmatite approximately 350 m from its northwestern mapped extent and 50 m vertically beneath the surface. Drilling intersected a 17 m wide main dyke flanked by several 1-2 m wide pegmatites on either side. The main dyke returned 1.58% Li2O over 12 m whereas flanking dykes returned negligible grade.

YLP-0110 was collared 50 m southeast of YLP-0104 to test the Ki pegmatite about 400 m from its northwestern end and 50 m vertically beneath the surface. Drilling intersected 8 and 10 m wide pegmatite dykes separated by 6 m of country rock as well as a 1 m wide flanking dyke. Assays returned 1.00% Li2O over 7 m for the upper dyke and 1.13% Li2O over 10 m for the lower one, with the latter including 1.51% Li2O over 5 m. The 1 m wide dyke returned negligible grade.

The Company has concluded its 2023 drill program at the Yellowknife Lithium Project with 34,238 m completed. Currently, LIFT has reported results from 100 out of 198 diamond drill holes (17,624 m).