LIFT Intersects 23 m at 1.25% Li₂O at its Ki pegmatite, Yellowknife Lithium Venture, NWT

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VANCOUVER, British Columbia, Jan. 30, 2024 (GLOBE NEWSWIRE) — Li-FT Energy Ltd. (“LIFT” or the “Corporate”) (TSXV: LIFT) (OTCQX: LIFFF) (Frankfurt:
WS0) is happy to record assays from 8 drill holes finished on the BIG West, Nite & Ki pegmatites throughout the Yellowknife Lithium Venture (“YLP”) situated outdoor the town of Yellowknife, Northwest Territories (Determine 1). Drilling intersected important durations of spodumene mineralization, with the next highlights:   

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Highlights:

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• YLP-0165: 23 m at 1.25% Li₂O, (Ki)
• YLP-0150: 13 m at 1.27%
  Li₂O, (BIG West)
• YLP-0166: 9.5 m at 1.36% Li₂O, (BIG West)
• YLP-0157: 9 m at 1.10% Li₂O, (Nite)
  and: 1 m at 1.13% Li₂O
  and: 2 m at 0.85% Li₂O
• YLP-0158: 9 m at 1.02% Li₂O, (BIG West)
  and: 7 m at 1.09% Li₂O

Dialogue of Effects

This week’s drill effects are for 8 holes drilled on 3 separate pegmatite complexes, together with BIG West, Nite and Ki. A desk of composite calculations, basic feedback associated with this dialogue, and a desk of collar headers are supplied in opposition to the top of this part.

Francis MacDonald, CEO of LIFT feedback, “This week we’ve launched a very good outcome from the Ki pegmatite. Hollow YLP-0165 is likely one of the higher holes thus far with regards to grade x thickness. The Ki pegmatite shall be one of the vital focuses for the wintry weather drill program and we plan to systematically step out from present drilling alongside untested spodumene-bearing outcrops to the northwest of drilling finished thus far.”

Determine 1 – Location of LIFT’s Yellowknife Lithium Venture. Drilling has been so far centered at the Street Get admission to Staff of pegmatites that are situated to the east of the town of Yellowknife alongside a government-maintained paved freeway, in addition to the Echo goal within the Additional Afield Staff.

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Ki Pegmatite

The Ki pegmatite is one in all a number of subparallel dykes going on inside a north-of-northwest trending hall. Drill intercepts normally contain a thick “major” dyke flanked via a number of narrower (1-5 m extensive) dykes despite the fact that, in puts, it’s shaped via 2-6 dykes of identical cumulative thickness unfold over as much as 80 m of core period. The Ki dyke is visual for a minimum of 1.0 km on floor and dips between 65°-80° to the southwest.

YLP-0165 examined the Ki pegmatite roughly 200 m from its southern mapped extent and 50 m vertically underneath the outside, in addition to 50 m down-dip of YLP-0118 (0.96% Li₂O over 1 m). Drilling intersected a 23 m extensive pegmatite dyke that returned 1.25% Li₂O over 23 m (Desk 1 & 2, Figures 2 & 3).

Determine 2 – Plan view appearing the outside expression of the Ki pegmatite with diamond drill holes reported on this press liberate.

Determine 3 – Pass-section illustrating YLP-0165 with effects as proven within the Ki pegmatite dyke with a 23 m period of one.25% Li₂O.

BIG West Pegmatite

The BIG West pegmatite advanced incorporates a northeast-trending hall of parallel-trending dykes this is uncovered for a minimum of 1.5 km alongside strike and is steeply west dipping to subvertical. The advanced is certain via two somewhat steady dykes which can be 50-100 m aside within the northern part of the hall and 150 m aside within the south. To facilitate description, those dykes are right here known as the east bounding (EB) and west bounding (WB) dykes. The holes described underneath are ordered from southern- to northern-most.

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YLP-0163 was once drilled ~200 m from the southern mapped extent of the WB dyke and designed to check a pierce level roughly 50 m vertically underneath the outside. Drilling intersected a unmarried 9 m extensive pegmatite dyke that returned 0.99% Li₂O over 9 m.

YLP-0158 was once collared 50 m north of YLP-0163 to check the WB dyke ~250 m from its southern mapped extent and 50 m underneath the outside. Drilling intersected 16 m of pegmatite this is more-or-less cut up in part via a 5 m thick panel of nation rock. The higher period returned an assay composite of one.09% Li₂O over 7 m while the decrease one ran 1.02% Li₂O over 9 m.

YLP-0166 was once drilled at the similar part as YLP-0158 however aimed to intersect the WB dyke at a shallower intensity. Drilling intersected a unmarried pegmatite dyke, extending from the bottom of overburden to 13 m intensity, that returned an assay composite of one.36% Li₂O over 9.5 m.

YLP-0150 was once collared 50 m north of YLP-0158/0166 to check the WB dyke roughly 300 m from its southern mapped extent and 50 m vertically underneath the outside. Drilling intersected a unmarried 14 m pegmatite dyke that returned an assay composite of one.27% Li₂O over 13 m.

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YLP-0160 was once collared 150 m north of YLP-0150 to check the WB dyke roughly 450 m from its southern mapped extent and, once more, 50 m vertically underneath the outside. Drilling intersected 5 pegmatite dykes over a 70 m period of drill core that every vary between 1-6 m in width and sum to 16 m. No important assays had been returned.

YLP-0159 was once drilled 600-850 m north of the 5 holes described above, roughly 300 m from the northern mapped extent of the WB dyke and 50 m underneath the outside. Drilling intersected 4 dykes over a 35 m period of drill core that every vary between 1-7 m in width and sum to fourteen m of pegmatite. The one notable assays had been returned for the second one dyke, which ran 0.73% Li₂O over 5 m together with one meter at 1.48% Li₂O (Desk 1 & 2, Figures 4, 5 & 6).

Determine 4 – Plan view appearing the outside expression of the BIG West pegmatite with diamond drill holes reported on this press liberate.

Determine 5 – Pass-section of YLP-0150 which intersected the BIG West pegmatite dyke with a 13 m period of one.27% Li₂O.

Determine 6 – Pass-section of YLP-0166 which intersected the BIG West pegmatite dyke with a 9.5 m period of one.36% Li₂O.

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Nite Pegmatite

The Nite pegmatite advanced incorporates a north-northeast trending hall of parallel-trending dykes this is uncovered for a minimum of 1.4 km of strike period, levels from 10-200 m extensive, and dips roughly 50°-70° to the east.

YLP-0157 was once designed to check the Nite pegmatite roughly 500 m from its northern mapped extent and 100 m vertically underneath the outside, in addition to 50 m downdip of YLP-0149 (1.04% Li₂O over 5 m and nil.78% Li₂O over 10 m) and 100 m downdip of YLP-0145 (1.28% Li₂O over 10 m). Drilling intersected 3 dykes over a 35 m period of core, with dykes starting from 4-9 m in width and summing to 17 m of pegmatite. Assay composites, from upper- to lower-most, come with 1.13% Li₂O over 1 m, 1.10% Li₂O over 9 m and nil.85% Li₂O over 2 m (Desk 1 & 2, Determine 7).

Determine 7 – Plan view appearing the outside expression of the Nite pegmatite with diamond drill holes reported on this press liberate.

Desk 1 – Assay highlights for drill holes reported on this press liberate

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Drilling Growth Replace

The Corporate has concluded its 2023 drill program on the Yellowknife Lithium Venture with 34,238 m finished. Lately, LIFT has reported effects from 164 out of 198 diamond drill holes (28,903 m).

Common Statements

All 8 holes described on this information liberate had been drilled widely perpendicular to the dyke orientation in order that the actual thickness of reported intercepts will vary someplace between 65-100% of the drilled widths. A collar header desk is equipped underneath.

Mineralogical characterization for the YLP- pegmatites is in growth via hyperspectral core scanning and X-ray diffraction paintings. Visible core logging signifies that the primary host mineral is spodumene.

Desk 2 – Drill collars desk of reported drill holes on this press liberate

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QA/QC & Core Sampling Protocols

All drill core samples had been accumulated underneath the supervision of LIFT workers and contractors. Drill core was once transported from the drill platform to the core processing facility the place it was once logged, photographed, and cut up via diamond noticed previous to being sampled. Samples had been then bagged, and blanks and licensed reference fabrics had been inserted at common durations. Box duplicates consisting of quarter-cut core samples had been additionally integrated within the pattern runs. Teams of samples had been positioned in huge baggage, sealed with numbered tags in an effort to deal with a chain-of-custody, and transported from LIFT’s core logging facility to ALS Labs (“ALS”) laboratory in Yellowknife, Northwest Territories.

Pattern preparation and analytical paintings for this drill program had been performed via ALS. Samples had been ready for research in keeping with ALS way CRU31: particular person samples had been beaten to 70% passing via 2 mm (10 mesh) display screen; a 1,000-gram sub-sample was once riffle cut up (SPL-21) after which pulverized (PUL-32) such that 85% handed via 75 micron (200 mesh) display screen. A zero.2-gram sub-sample of the pulverized subject material was once then dissolved in a sodium peroxide resolution and analysed for lithium in keeping with ALS way ME-ICP82b. Every other 0.2-gram sub-sample of the pulverized subject material was once analysed for 53 parts in keeping with ALS way ME-MS89L. All effects handed the QA/QC screening on the lab, all inserted requirements and blanks returned effects that had been inside appropriate limits.

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Certified Particular person

The disclosure on this information liberate of medical and technical knowledge relating to LIFT’s mineral homes has been reviewed and licensed via Ron Voordouw, Ph.D., P.Geo., Spouse, Director Geoscience, Fairness Exploration Specialists Ltd., and a Certified Particular person as outlined via Nationwide Device 43-101 Requirements of Disclosure for Mineral Tasks (NI 43-101) and member in excellent status with the Northwest Territories and Nunavut Affiliation of Skilled Engineers and Geoscientists (NAPEG) (Geologist Registration quantity: L5245).

About LIFT

LIFT is a mineral exploration corporate engaged within the acquisition, exploration, and construction of lithium pegmatite initiatives situated in Canada. The Corporate’s flagship undertaking is the Yellowknife Lithium Venture situated in Northwest Territories, Canada. LIFT additionally holds 3 early-stage exploration homes in Quebec, Canada with superb doable for the invention of buried lithium pegmatites, in addition to the Cali Venture in Northwest Territories throughout the Little Nahanni Pegmatite Staff.

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Cautionary Commentary Relating to Ahead-Taking a look Data

Sure statements integrated on this press liberate represent forward-looking knowledge or statements (jointly, “forward-looking statements”), together with the ones recognized via the expressions “watch for”, “imagine”, “plan”, “estimate”, “be expecting”, “intend”, “would possibly”, “must” and identical expressions to the level they relate to the Corporate or its control. The forward-looking statements aren’t ancient info however mirror present expectancies relating to long term effects or occasions. This press liberate incorporates ahead shopping statements. Those forward-looking statements and knowledge mirror control’s present ideals and are in response to assumptions made via and knowledge lately to be had to the corporate with admire to the topic described on this new liberate. 

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Ahead-looking statements contain dangers and uncertainties, that are in response to present expectancies as of the date of this liberate and matter to recognized and unknown dangers and uncertainties that would motive precise effects to vary materially from the ones expressed or implied via such statements. Further details about those assumptions and dangers and uncertainties is contained underneath “Chance Elements and Uncertainties” within the Corporate’s newest annual knowledge shape filed on March 30, 2023, which is to be had underneath the Corporate’s SEDAR+ profile at www.sedarplus.ca, and in different filings that the Corporate has made and would possibly make with acceptable securities government one day. Ahead-looking statements contained herein are made most effective as to the date of this press liberate and we adopt no legal responsibility to replace or revise any forward-looking statements whether or not because of new knowledge, long term occasions or in a different way, except for as required via legislation. We warning buyers to not position substantial reliance at the forward-looking statements contained on this press liberate.

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