Li-FT Power's Pontax Project Reveals Anomaly Signalling Potential Beneath Glacial Cover in Quebec

• Li-FT Power defines a 13 km by 6 km spodumene-in-till anomaly at its Pontax Lithium Project in Quebec
• The anomaly's size and strength are comparable to those near the Whabouchi lithium deposit
• Results suggest potential for a large spodumene pegmatite dyke swarm buried beneath glacial sediments
• Additional spodumene anomalies identified on the company's Rupert property
• Li-FT plans to narrow down the large area to define drill targets in future exploration programs

Li-FT Power (TSXV:LIFT) is a mineral exploration company focused on the acquisition, exploration, and development of lithium pegmatite projects in Canada. The company's flagship asset is the Yellowknife Lithium Project in the Northwest Territories, complemented by three early-stage exploration properties in Quebec with high potential for buried lithium pegmatites. In a recent announcement, Li-FT Power has revealed significant findings from its summer 2023 exploration program at the Pontax and Rupert Projects in Quebec's James Bay region, potentially signaling a major lithium discovery.

The discovery of a large-scale spodumene anomaly at the Pontax Project, comparable in size and strength to those found near established lithium deposits, suggests that Li-FT may be on the cusp of a significant lithium find.

Pontax Project: A Potential Game-Changer

At the heart of Li-FT Power's recent announcement is the discovery of a massive 13 km by 6 km spodumene-in-till anomaly at the Pontax Project. This finding is the result of an extensive summer 2023 surface exploration program that included geologic mapping, prospecting, and glacial-sediment (till) sampling.

The significance of this anomaly becomes clear when compared to the nearby Whabouchi lithium deposit. The spodumene grain counts in the Pontax anomaly are similar to those found down-ice of Whabouchi, a known substantial lithium resource. However, the Pontax anomaly covers a much larger area – 13 km by 6 km compared to the 4 km by 1 km area associated with Whabouchi.

Francis MacDonald, CEO of Li-FT Power, expressed enthusiasm about the findings:

"The size and strength of the Pontax spodumene anomaly is very impressive. We understand the expression of a large spodumene resource in till from our sampling results down-ice of the Whabouchi lithium deposit. The anomaly that we have defined at Pontax has similar amounts of spodumene grains in till, but we are seeing this anomalism over a 13 km by 6 km area in comparison to a 4 km by 1 km area down-ice of Whabouchi."

The implication of these results is significant. Li-FT believes there is potential for a large spodumene pegmatite dyke swarm buried beneath extensive glacial sediments in the Pontax area. This hypothesis sets the stage for future exploration programs aimed at narrowing down this large area to define specific drill targets.

Understanding Till Sampling and Its Importance

To appreciate the significance of Li-FT Power's findings, it's crucial to understand the till sampling methodology and its historical success in mineral exploration. Till sampling for geochemistry or indicator minerals has been a proven technique in Canada and other regions previously covered by glaciers, leading to numerous discoveries beneath transported sediment cover.

Notable examples of discoveries made using this method include the Rainy River gold deposit, the Ekati diamond mine, and the East Kemptville tin deposit. The technique has also been validated through orientation surveys over previously discovered deposits, suggesting it would have been a successful methodology if employed during early exploration phases.

In the case of the Pontax Project, the area was inundated by the Tyrell Sea at the end of the last glaciation period. The surficial sediment cover consists of till overlain locally by Tyrrell Sea mud, with thick post-glacial organic wetland deposits capping the succession in some areas. Li-FT's sampling program was designed to collect till from topographic highs where it outcrops through the blanket of glaciomarine mud found in the lowlands.

This meticulous approach to sampling and analysis provides a strong foundation for Li-FT's interpretations and future exploration plans.

Additional Surface Work and Findings

Beyond the spodumene grain counts, Li-FT's 2023 exploration program yielded additional valuable data:

1. Rock Sampling: The company collected 1,654 rock samples, with lithium values reaching up to 0.56% Li2O within the Pontax Project. While not economic on their own, these values are highly anomalous and indicate the potential proximity of a spodumene pegmatite system.
2. Geochemical Associations: Increased lithium values were associated with anomalous values of tantalum, cesium, beryllium, and tin, particularly in the Pontax area. This geochemical signature further supports the potential for lithium-bearing pegmatites in the region.
3. Spodumene-Bearing Boulder: A single spodumene-bearing boulder found within the anomaly down-ice of Whabouchi returned 1.77% Li2O. While likely transported from the Whabouchi deposit, this finding suggests that spodumene grains have indeed been transported in the area, validating the sampling methodology.
4. Expanded Till Geochemistry: An additional 5,700 C-horizon matrix till geochemistry samples were collected on newly acquired claims and previously unsampled areas. This data was used to guide further sampling for spodumene grains within till.

These additional findings complement the spodumene-in-till anomaly, building a comprehensive picture of the area's lithium potential.

Rupert Project: Additional Promising Results

While the Pontax Project has garnered significant attention, Li-FT Power also reported promising results from its Rupert Project. The company identified additional spodumene anomalies on this property, with the important distinction of well-defined background values.

The Rupert-Pontax spodumene grain count sampling program was designed to test areas with anomalous till geochemistry for lithium, as reported in a previous press release. The sampling grid at Rupert was spaced at roughly 800 meters by 200 meters, allowing for a comprehensive assessment of the area.

These findings at Rupert, while less extensive than those at Pontax, add to Li-FT Power's portfolio of prospective lithium targets in the James Bay region.

Exploration Beyond Lithium: The VTEM-Magnetics Survey

In an interesting development that showcases Li-FT Power's diverse exploration approach, the company completed a VTEM-Magnetics survey northeast of Power Nickel's Lion Zone target. This area is of interest due to Power Nickel's recent high-grade platinum group element (PGE) and copper intersection approximately 600 meters from Li-FT's claim boundary.

The survey has defined conductive-magnetic bodies at depth, which could potentially represent massive sulphide targets similar to Power Nickel's Wildcat discovery. While lithium remains the primary focus, this development highlights Li-FT's ability to recognize and pursue other valuable mineral opportunities within its land package.

2023 Drilling Program: Lessons Learned

During the summer of 2023, Li-FT completed 12 diamond drill holes totaling 4,069 meters to test lithium anomalies in till geochemistry north of the Whabouchi lithium deposit. While these drill holes did not intersect significant spodumene pegmatites, they provided valuable geological information:

• Encountered granitic rocks with lithium values between 100-300 ppm
• Intersected pegmatites with negligible lithium values
• Found mafic dykes slightly enriched in lithium (300-700 ppm)

Although these results did not warrant additional drilling in that particular area, they contribute to the overall understanding of the region's geology and help refine future exploration strategies.

The Pontax Option Agreement

It's worth noting that part of the Pontax Project is under an option agreement with Harfang Exploration Inc. The terms of this agreement allow Li-FT to acquire up to a 70% interest in the project by completing scheduled cash payments and exploration expenditures by July 2028. This structure provides Li-FT with a clear path to majority ownership of the project while managing upfront costs.

Quality Assurance and Control

Li-FT Power emphasizes its commitment to rigorous quality assurance and control protocols in its exploration programs. The company's sampling and analytical procedures, overseen by Qualified Person Don Cummings, P.Geo, adhere to industry standards. This attention to detail provides investors with confidence in the reliability of the reported results.

Future Exploration Plans

With the promising results from the 2023 exploration program, particularly at the Pontax Project, Li-FT Power is poised for an exciting next phase of exploration. The company's immediate focus will be on narrowing down the large anomalous area at Pontax to define specific drill targets.

This process is likely to involve:

1. More detailed till sampling to further refine the anomaly
2. Geophysical surveys to identify potential pegmatite bodies beneath the glacial cover
3. Trenching or shallow drilling in areas where bedrock is closer to the surface
4. Systematic diamond drilling of the most promising targets

The company's experience from its 2023 drilling program will inform these future exploration efforts, potentially increasing the chances of intersecting significant spodumene pegmatites.

Market Implications and Investment Perspective

The lithium market continues to be driven by the growing demand for electric vehicles and energy storage systems. In this context, Li-FT Power's recent discoveries at the Pontax Project position the company as a potentially significant player in the lithium exploration space.

For investors, several factors make Li-FT Power an interesting prospect:

1. Large-scale potential: The size of the spodumene anomaly at Pontax suggests the possibility of a substantial lithium resource.
2. Strategic location: The James Bay region of Quebec is known for its lithium potential and has supportive mining infrastructure.
3. Diverse portfolio: While Pontax is the current focus, Li-FT's other properties in Quebec and the Northwest Territories provide additional exploration upside.
4. Experienced management: The company's leadership has demonstrated the ability to execute effective exploration programs and interpret results.
5. Early-stage opportunity: As an early-stage exploration company, Li-FT offers the potential for significant value appreciation if major discoveries are made.

However, investors should also be aware of the risks inherent in mineral exploration:

1. Exploration risk: There's no guarantee that the spodumene anomalies will lead to an economic lithium deposit.
2. Financing needs: Further exploration and potential development will require additional capital.
3. Market volatility: The lithium market can be subject to price fluctuations based on supply and demand dynamics.
4. Regulatory environment: Mining regulations and permitting processes can impact project timelines and costs.

Conclusion

Li-FT Power's recent announcement of a large-scale spodumene anomaly at its Pontax Project represents a significant milestone in the company's exploration efforts. The size and strength of this anomaly, comparable to those associated with known substantial lithium deposits, suggest the potential for a major discovery beneath the glacial cover in Quebec's James Bay region.

For investors, Li-FT Power presents an opportunity to gain exposure to an early-stage lithium exploration company with promising prospects. The company's strategic land position, methodical exploration approach, and the scale of the recent findings at Pontax make it a compelling consideration for those interested in the lithium sector.

As Li-FT Power moves forward with its exploration plans, particularly in narrowing down drill targets at Pontax, investors should watch for updates on further sampling results, geophysical surveys, and eventually, drill programs. These upcoming activities have the potential to significantly impact the company's valuation and future prospects.

While the risks associated with mineral exploration should not be overlooked, the potential rewards of a major lithium discovery in a favorable mining jurisdiction like Quebec could be substantial. As always, investors are encouraged to conduct own due diligence and consider their risk tolerance when evaluating Li-FT Power as an investment opportunity in the dynamic and growing lithium market.