Lithium Exploration Company Li-FT Power Intersects High-Grade Lithium at Yellowknife Project

About Li-FT Power

LIFT Power (CSE: LIFT) is a Canada-based mineral exploration company focused on acquiring, exploring, and developing lithium pegmatite projects, primarily located in Canada. The company's flagship project is the Yellowknife Lithium Project in the Northwest Territories. Li-FT Power also holds early-stage exploration properties in Quebec and the Cali Project in the Northwest Territories.

The company is led by CEO Francis MacDonald and has been actively exploring and developing its lithium projects over the last year. Li-FT Power is positioning itself to benefit from the growing demand for lithium needed for electric vehicle batteries and energy storage systems.

Latest Drill Results Show Continuity of High-Grade Lithium Mineralization

Li-FT Power has released assay results from 5 drill holes at 3 different pegmatite targets within the Yellowknife Lithium Project. The drilling intersected significant intervals of spodumene, the primary lithium mineral at the project.

Highlights include:

• 14 m at 1.50% Li2O at BIG East pegmatite, including 12 m at 1.73% Li2O
• 12 m at 1.11% Li2O at Shorty pegmatite, including 10 m at 1.23% Li2O
• 15 m at 1.03% Li2O at Fi Southwest pegmatite, including 10 m at 1.34% Li2O

These results show the continuity of high-grade lithium mineralized zones at each of the pegmatite dykes. The widths and grades intersected are expected to add to the resource potential of the project.

According to CEO Francis MacDonald, "We continue to be impressed with the amount of spodumene pegmatite being intersected at depth at BIG East. The pegmatite dyke system is much larger than we anticipated based on the surface expression."

The results help demonstrate the exploration potential beyond the known surface expressions of the pegmatites as mineralization continues at depth and along strike.

Details on the Latest Assay Results

The drill results came from 3 different pegmatite targets that are part of Li-FT Power's priority Road Access Group in the southern portion of the Yellowknife Lithium Project.

The BIG East pegmatite was tested by drill hole YLP0049 which intersected 12.3 m at 1.28% Li2O from 0.7 m depth, 14 m at 1.50% Li2O from 38 m depth, including 12 m at 1.73% Li2O, and 9 m at 0.66% Li2O. This demonstrates the continuity of lithium mineralization from surface to depth at Big East.

Drill hole YLP0048 tested the Shorty pegmatite and intersected 12 m at 1.11% Li2O from 45 m depth, including 10 m at 1.23% Li2O, and 10 m at 1.46% Li2O from 65 m depth including 8 m at 1.71% Li2O. The results show two zones of high-grade lithium mineralization.

The Fi Southwest pegmatite was tested by two drill holes. Hole YLP0042 intersected 22 m at 0.98% Li2O, while hole YLP0051 intersected 15 m at 1.03% Li2O from 74 m depth, including 10 m at 1.34% Li2O, and 9 m at 1.03% Li2O from 113 m depth. The Fi Southwest has shown broad intercepts of lithium mineralization.

The drill results continue to expand the known lithium mineralization at each of the pegmatite dykes, both along strike and at depth. According to the company, mineralization remains open for expansion.

Advancing Towards Maiden Mineral Resource Estimate

Li-FT Power has announced results from 50 drill holes (8,812 m) that were part of its 2023 drill program at the Yellowknife Lithium Project. In total, 139 diamond drill holes have been completed to date totalling 24,500 m.

The company is working towards completing an initial NI 43-101 mineral resource estimate in 2024 based on the extensive drilling conducted over the last year. The Yellowknife Lithium Project is emerging as a potential near-term development project to capitalize on rising lithium demand.

The project benefits from its close proximity to existing infrastructure being located immediately east of Yellowknife along Highway 4, which is paved and maintained year-round by the government.

CEO MacDonald stated, "We believe mineralization is plunging towards the northeast, which opens up an exciting new area to be drilled in the future which has little to no spodumene pegmatite on surface." This demonstrates the strong potential for additional discovery of lithium mineralization across the 19,000+ hectare land package.

Conclusion

Li-FT Power is actively exploring and expanding its Yellowknife Lithium Project which displays significant lithium potential based on results to date. The latest drill results have intersected high-grade lithium mineralization across three different pegmatite targets, demonstrating both wide widths and continuity at depth.

As lithium demand is forecasted to grow exponentially over the coming decade, Li-FT Power could become a promising near-term developer to supply lithium to the North American electric vehicle supply chain.

With over 24,500 m of drilling conducted in 2023, the company is working towards an initial mineral resource estimate in 2024. Additional upside remains through further exploration across the large project area. Li-FT Power currently has a modest market capitalization of around C$20 million, positioning it as a speculative buy as it advances the Yellowknife Lithium Project.