LIFT Announces Initial Mineral Resource of 50.4 Million Tonnes at 1.00% Li2O, at the Yellowknife Lithium Project, NWT, Canada

Li-FT Power Ltd.
9 min read

In This Article:

Highlights:

  • The maiden resource estimate at the Yellowknife Lithium Project represents the 3rd largest hard-rock maiden resource estimate in Canada and the 10th largest hosted in the Western Hemisphere.

  • 6 of the 8 spodumene dykes included in the maiden resource estimate have unconstrained mineralization, providing significant opportunity for growth.

  • 5 undrilled spodumene dykes hosted within the Yellowknife Lithium Project that were not included in the maiden resource estimate have excellent potential to further expand the resource profile.

  • The maiden resource estimate is only based on 10 months and 49,548 m of drilling (286 drill holes from June 2023 to April 2024).

  • The maiden resource estimate further positions the Yellowknife Lithium Project as a globally significant source of spodumene and will underpin a preliminary economic assessment that is on track to be completed in Q2 2025.

  • Excellent access to infrastructure, including the Ingraham Trail running through part of the mineral resource, proximity to rail at Hay River, existing powerlines outside of Yellowknife, and access to major ports in Prince Rupert and Vancouver for shipment to Asian markets.

  • The x-ray diffraction analysis and pilot-scale testing completed as part of the Yellowknife Lithium Project metallurgical program (see press release dated September 23, 2024) provides confirmation of simple lithium mineralogy and that low-cost dense medium separation ("DMS") is suitable for the spodumene dykes included the maiden resource estimate.

VANCOUVER, BC / ACCESSWIRE / October 1, 2024 / Li-FT Power Ltd. ("LIFT" or the "Company") (TSXV:LIFT)(OTCQX:LIFFF)(Frankfurt:WS0) is pleased to announce the initial (i.e. first) National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate ("MRE") for the Yellowknife Lithium Project ("YLP"), located in the Northwest Territories. The mineral resource estimate covers 8 of 13 spodumene-bearing pegmatite dykes that comprise LIFT's YLP (Figure 1). The consolidated in-pit MRE is reported at 50.4 million tonnes (Mt) grading 1.00% Li2O for 506,000 tonnes of Li2O (1.25 million tonnes of LCE) in the inferred category and will form the basis of a Preliminary Economic Assessment (PEA) targeted for delivery in Q2 2025.

Figure 1 - Location of LIFT's Yellowknife Lithium Project. Drilling has been thus far mainly focused on the Near Field Group of pegmatites which are located to the east of the city of Yellowknife along a government-maintained paved highway, and advancing to the Echo target, the first drilling in the Further Afield Group.

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