LIFT Intersects 23 m at 1.40% Li2O at its Fi Major pegmatite, Yellowknife Lithium Mission, NWT

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VANCOUVER, British Columbia, Jan. 23, 2024 (GLOBE NEWSWIRE) — Li-FT Energy Ltd. (“LIFT” or the “Firm”) (TSXV: LIFT) (OTCQX: LIFFF) (Frankfurt:
WS0) is happy to report assays from 8 drill holes accomplished on the Fi Major, BIG West, Nite, & Ki pegmatites inside the Yellowknife Lithium Mission (“YLP”) situated exterior town of Yellowknife, Northwest Territories (Determine 1). Drilling intersected important intervals of spodumene mineralization, with the next highlights:

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Highlights:

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• YLP-0148: 23 m at 1.40% Li₂O, (Fi Major)
• YLP-0182: 11 m at 1.38%
  Li₂O, (Nite)
• YLP-0145: 10 m at 1.28% Li₂O, (Nite)
          and: 3 m at 1.26% Li₂O
• YLP-0149: 5 m at 1.04% Li₂O, (Nite)
          and: 1 m at 1.04% Li₂O
          and: 10 m at 0.78% Li₂O
  together with: 5 m at 1.15% Li₂O

Dialogue of Outcomes

This week’s drill outcomes are for eight holes drilled on 4 separate pegmatite complexes, together with Fi Major (N = 1), Nite (N = 3), BIG West (N = 2), and Ki (N = 2). A desk of composite calculations, normal feedback associated to this dialogue, and a desk of collar headers are offered in direction of the tip of this part.

Determine 1 – Location of LIFT’s Yellowknife Lithium Mission. Drilling has been up to now targeted on the Highway Entry Group of pegmatites that are situated to the east of town of Yellowknife alongside a government-maintained paved freeway, in addition to the Echo goal within the Additional Afield Group.

Fi Major Pegmatite

The Fi Major pegmatite includes a 10-100 m broad hall of 1-5 dykes that dip between 70°-85° to the west-northwest and extends for at the very least 1.5 km on floor.

YLP-0148 examined the Fi Major pegmatite roughly 300 m from its northern mapped extent, 50 m vertically beneath the floor, and 250 m up-dip from YLP-0020 (0.49% Li₂O over 5 m). Drilling at this web site intersected a single 31 m broad pegmatite dyke that returned an assay composite of 1.40% Li₂O over 23 m (Desk 1 and a couple of, Figures 2 & 3).

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Determine 2 – Plan view displaying the floor expression of the Fi Major pegmatite with diamond drill holes reported on this press launch.

Determine 3 – Cross-section illustrating YLP-0148 with outcomes as proven within the Fi Major pegmatite dyke with a 23 m interval of 1.40% Li₂O.

Nite Pegmatite

The Nite pegmatite complicated includes a north-northeast trending hall of parallel-trending dykes that’s uncovered for at the very least 1.4 km of strike size, ranges from 10-200 m broad, and dips roughly 50°-70° levels to the east.

YLP-0145 was designed to check the Nite pegmatite roughly 500 m from its northern mapped extent, &LT25 m vertically beneath the floor, and 50 m up-dip from YLP-0149 (see subsequent paragraph). Drilling intersected three pegmatite dykes from the bottom of overburden (B-OVB) to 40 m core depth, starting from 2-13 m in width for cumulative pegmatite width of 18 m. The widest dyke returned an assay composite of 1.28% Li₂O over 10 m whereas one other dyke, intersected from B-OVB to 4 m depth, returned 1.26% Li₂O over 3 m.

YLP-0149 was designed to check the Nite pegmatite on the identical part as YLP-0145 however at 50 m additional downdip. Drilling intersected 4 pegmatite dykes starting from 1-11 m in width for cumulative pegmatite width of 27 m over 43 m of core size. The three widest dykes, from upper- to lower-most, returned assay composites of 1.04% Li₂O over 5 m, 1.04% Li₂O over 1 m, and 0.78% Li₂O over 10 m, the latter together with 1.15% Li₂O over 5 m.

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YLP-0182 was designed to check the Nite pegmatite roughly 600 m from its southern mapped extent, 250 m vertically beneath the floor, and 200 m down-dip of YLP-0142 (1.47% Li₂O over 10 m). Drilling intersected 4 pegmatite dykes over 39 m core width, starting from 2-14 m in width for cumulative pegmatite width of 31 m. The widest dyke returned an assay composite of 1.38% Li₂O over 11 m whereas the opposite three dykes averaged 0.1-0.3% Li₂O over core widths starting from 2-10 m (Desk 1 & 2, Figures 4, 5 & 6).

Determine 4 – Plan view displaying the floor expression of the Nite pegmatite with diamond drill gap reported on this press launch.

Determine 5 – Cross-section of YLP-0182 which intersected the Nite pegmatite dyke with a 11 m interval of 1.38% Li₂O.

Determine 6 – Cross-section of YLP-0145 which intersected the Nite pegmatite dyke with a ten m interval of 1.28% Li₂O.

BIG West Pegmatite

The BIG West pegmatite complicated includes a northeast-trending hall of parallel-trending dykes that’s uncovered for at the very least 1.5 km alongside strike and is steeply west dipping to subvertical. The complicated is certain by two comparatively steady dykes which might be roughly 50-100 m aside within the north half and just below 150 m aside within the southern half. To facilitate description, these dykes are right here known as the east bounding (EB) and west bounding (WB) dykes.

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YLP-0151 examined the BIG West EB dyke roughly 150 m from its southern mapped extent, 150 m vertically beneath the floor, and 100 m down-dip of YLP-0146 (0.52% Li₂O over 12 m). Drilling intersected 5 pegmatite dykes over 83 m of drill core, together with a 15 m thick dyke and 4 2-4 m broad dykes for cumulative pegmatite width of 27 m. The 15 m broad dyke returned a wall-to-wall composite of 0.18% Li₂O over 15 m that features 0.62% Li₂O over 1 m. All different dykes averaged &LT0.1% Li₂O.

YLP-0153 was designed to check the WB dyke roughly 350 m from its southern mapped extent and &LT25 m vertically beneath the floor, in addition to 50 m up-dip from YLP-0135 (1.04% Li₂O over 12 m) and 100 m up-dip of YLP-0132 (no important intercept). Drilling intersected a single 16 m broad pegmatite extending from the bottom of overburden (B-OVB) to 18 m depth that returned an assay composite of 0.99% Li₂O over 9 m (Desk 1 and a couple of, Determine 7).

Determine 7 – Plan view displaying the floor expression of the BIG West pegmatite with diamond drill holes reported on this press launch.

Ki Pegmatite

The Ki pegmatite is one among a number of subparallel dykes occurring inside a north-of-northwest trending hall. Drill intercepts sometimes comprise a thick “most important” dyke flanked by a number of narrower (1-5 m broad) dykes though, in locations, it’s shaped by 2-6 dykes of comparable cumulative thickness unfold over as much as 80 m of core size. The Ki dyke is seen for at the very least 1.0 km on floor and dips between 65°-80° to the southwest.

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YLP-0155 examined the Ki pegmatite roughly 300 m from its southern mapped extent and 100 m vertically beneath the floor, in addition to 50 m down-dip of YLP-0096 (1.38% Li₂O over 12 m) and 100 m downdip of YLP-0069 (0.96% Li₂O over 10 m). Drilling intersected seven pegmatite dykes over 96 m of core size, with particular person dykes spaced ~7-14 m from adjoining dykes and starting from 1-15 m in width for cumulative pegmatite width of 31 m. All wall-to-wall assay composites returned ≤0.1% Li₂O.

YLP-0161 examined the Ki pegmatite roughly 400 m from its southern mapped extents, 150 m vertically beneath the floor, and 100 m down-dip of YLP-0110 (1.00% Li₂O over 7 m and 1.13% Li₂O over 10 m). Drilling intersected three swarms separated by 50-70 m core lengths, with every swarm comprising 1-4 m of pegmatite over 1-20 m. All wall-to-wall assay composites returned &LT0.1% Li₂O (Desk 1 and a couple of, Determine 8).

Determine 8 – Plan view displaying the floor expression of the Ki pegmatite with diamond drill holes reported on this press launch.

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

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Drilling Progress Replace

The Firm has concluded its 2023 drill program on the Yellowknife Lithium Mission with 34,238 m accomplished. Presently, LIFT has reported outcomes from 156 out of 198 diamond drill holes (27,493 m).

Basic Statements

All eight holes described on this information launch had been drilled broadly perpendicular to the dyke orientation in order that the true thickness of reported intercepts will vary someplace between 65-100% of the drilled widths. A collar header desk is offered beneath.

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

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

QA/QC & Core Sampling Protocols

All drill core samples had been collected underneath the supervision of LIFT workers and contractors. Drill core was transported from the drill platform to the core processing facility the place it was logged, photographed, and cut up by diamond noticed previous to being sampled. Samples had been then bagged, and blanks and authorized reference supplies had been inserted at common intervals. Discipline duplicates consisting of quarter-cut core samples had been additionally included within the pattern runs. Teams of samples had been positioned in massive luggage, sealed with numbered tags as a way to keep a chain-of-custody, and transported from LIFT’s core logging facility to ALS Labs (“ALS”) laboratory in Yellowknife, Northwest Territories.

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Pattern preparation and analytical work for this drill program had been carried out by ALS. Samples had been ready for evaluation in line with ALS methodology CRU31: particular person samples had been crushed to 70% passing via 2 mm (10 mesh) display screen; a 1,000-gram sub-sample was riffle cut up (SPL-21) after which pulverized (PUL-32) such that 85% handed via 75 micron (200 mesh) display screen. A 0.2-gram sub-sample of the pulverized materials was then dissolved in a sodium peroxide answer and analysed for lithium in line with ALS methodology ME-ICP82b. One other 0.2-gram sub-sample of the pulverized materials was analysed for 53 components in line with ALS methodology ME-MS89L. All outcomes handed the QA/QC screening on the lab, all inserted requirements and blanks returned outcomes that had been inside acceptable limits.

Certified Individual

The disclosure on this information launch of scientific and technical data relating to LIFT’s mineral properties has been reviewed and authorized by Ron Voordouw, Ph.D., P.Geo., Accomplice, Director Geoscience, Fairness Exploration Consultants Ltd., and a Certified Individual as outlined by Nationwide Instrument 43-101 Requirements of Disclosure for Mineral Initiatives (NI 43-101) and member in good standing with the Northwest Territories and Nunavut Affiliation of Skilled Engineers and Geoscientists (NAPEG) (Geologist Registration quantity: L5245).

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About LIFT

LIFT is a mineral exploration firm engaged within the acquisition, exploration, and growth of lithium pegmatite initiatives situated in Canada. The Firm’s flagship mission is the Yellowknife Lithium Mission situated in Northwest Territories, Canada. LIFT additionally holds three early-stage exploration properties in Quebec, Canada with glorious potential for the invention of buried lithium pegmatites, in addition to the Cali Mission in Northwest Territories inside the Little Nahanni Pegmatite Group.

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Cautionary Assertion Relating to Ahead-Trying Info

Sure statements included on this press launch represent forward-looking data or statements (collectively, “forward-looking statements”), together with these recognized by the expressions “anticipate”, “imagine”, “plan”, “estimate”, “count on”, “intend”, “might”, “ought to” and related expressions to the extent they relate to the Firm or its administration. The forward-looking statements should not historic info however mirror present expectations relating to future outcomes or occasions. This press launch comprises ahead wanting statements. These forward-looking statements and data mirror administration’s present beliefs and are based mostly on assumptions made by and data at the moment out there to the corporate with respect to the matter described on this new launch. 

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Ahead-looking statements contain dangers and uncertainties, that are based mostly on present expectations as of the date of this launch and topic to identified and unknown dangers and uncertainties that would trigger precise outcomes to vary materially from these expressed or implied by such statements. Extra details about these assumptions and dangers and uncertainties is contained underneath “Threat Components and Uncertainties” within the Firm’s newest annual data type filed on March 30, 2023, which is offered underneath the Firm’s SEDAR+ profile at www.sedarplus.ca, and in different filings that the Firm has made and will make with relevant securities authorities sooner or later. Ahead-looking statements contained herein are made solely as to the date of this press launch and we undertake no obligation to replace or revise any forward-looking statements whether or not because of new data, future occasions or in any other case, besides as required by regulation. We warning traders to not place appreciable reliance on the forward-looking statements contained on this press launch.

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