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Li-FT keeps up assays with first from Nite

Reports 12 meters of 1.51% lithium oxide from first Nite hole North of 60 Mining News – January 12, 2024

Li-FT Power Ltd. Jan. 9 announced the results from the first holes from the Nite pegmatite, the furthest western target from its Road Access Group of properties that include its Fi, BIG, KI, and Shorty prospects on the company's Yellowknife Lithium project in Northwest Territories, Canada.

Going into 2024, Li-FT continues its regularly scheduled programming, reporting assays as they roll in from its 34,238-meter drill program that resulted in 198 holes.

The latest comes from eight holes drilled on the company's Road Access Group – BIG West, Fi Main, Shorty, Fi Southwest, and Nite – bringing the total reported holes to 140.

"This week we are releasing results for the first holes from the Nite pegmatite," said Li-FT Power CEO Francis MacDonald. "The first interval of 12 meters at 1.51% lithium oxide is of similar grade and width to the surface expression of the dyke."

Aside from a promising first collar at Nite, of the other seven drilled, two came from Fi Southwest, three from BIG West, and one each from Fi Main and Shorty.

Highlights from this set include:

12 meters averaging 1.51% lithium oxide from a depth of 74 meters in hole YLP-0138 (Nite).

23 meters averaging 1.5% Li2O from 226 meters in YLP-0125 (Fi Southwest).

18 meters averaging 0.52% Li2O from 263 meters in YLP-0130 (Fi Southwest).

Nine meters averaging 1.07% Li2O from 62 meters in YLP-0134 (BIG West).

12 meters averaging 1.04% Li2O from 70 meters in YLP-0135 (BIG West).

Eight meters averaging 0.57% Li2O from 49 meters in YLP-0139 (BIG West).

Five meters averaging 0.63% Li2O from 40 meters in YLP-0136 (Fi Main).

Five meters averaging 0.69% Li2O from seven meters in YLP-0133 (Shorty).

"Fi Southwest also produced an excellent intersect this week which is located 200 meters below surface," MacDonald added. "We continue to encounter high grades at these depths."

The Nite pegmatite complex comprises a north-northeast trending corridor of parallel-trending dykes that is exposed for at least 1,300 meters of strike length, ranging from 10 to 200 meters wide, and dips toward the east.

Designed to test the Nite pegmatite roughly 650 meters from its northern and southern ends, as well as 50 meters vertically beneath the surface, drilling intersected four pegmatite dykes over 51 meters of core.

This comprised a 14-meter-wide dyke as well as three one- to three-meter-wide dykes for a cumulative width of 20 meters. The company adds that it was this wider dyke that returned the assay composite averaging 1.51% Li2O, whereas thinner dykes returned negligible grades.

Although Li-FT concluded its 2023 exploration program toward the end of November, with almost 200 holes drilled in nearly 35,000 meters, the company has diligently reported its results in small, consistent batches that should continue for several more weeks until reaching its final set – based on this schedule; we should see this happening sometime around the end of March or beginning of April.

While no word of its 2024 exploration program has been announced, with the breakneck speed Li-FT set for its first year of lithium exploration at the historic Yellowknife Pegmatite Province, it can be presumed it will be another full year for this junior energy metal explorer.


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