LIFT reports grab samples up to 3% Li2O within 1 km by 1.5 km area at the Cali Lithium Project, NWT, Canada

VANCOUVER, British Columbia, May 07, 2024 (GLOBE NEWSWIRE) -- Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV: LIFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to provide an update on surface work completed during the summer of 2023 at the Cali Lithium Project, Northwest Territories (Figure 1).

During the summer surface program in 2023, LIFT completed a soil geochemistry survey covering the Cali Property, as well as a mapping and prospecting campaign. Rock sampling and mapping indicate that the spodumene pegmatite dyke swarm system is larger than had been anticipated with numerous spodumene pegmatite swarms present within an area of 1.5 kilometers by 1 kilometer (Figure 2). Out of 163 grab samples collected, 124 returned grades at greater than 1.0% Li₂O.

Figure 1 – Location of LIFT’s Cali Lithium Project (CLP). The CLP is located in the Mackenzie Mountains along the Northwest Territories-Yukon border. The area is accessible by road and is located ~850 kilometers from rail in Fort Nelson, British Columbia.

Figure 2 – Rock sampling results from the Cali pegmatite corridors. Multiple outcropping spodumene pegmatite corridors have been defined over a 1.5 kilometer by 1 kilometer area. Boulders and subcrop (e.g. rocks that are not in place) suggest additional dykes may be present beneath cover.

Soil geochemistry results successfully outlined the outcropping corridors of spodumene pegmatites, and additionally defined an area with very little outcrop that has a similar magnitude of anomalism which could indicate spodumene pegmatites are located beneath soil cover (Figure 3).

Francis MacDonald, CEO of LIFT comments, “We are very pleased with the surface program results from 2023. When we initiated this program, we were expecting spodumene-bearing corridors to be limited to a single 150 m wide corridor, but the discovery of additional pegmatite corridors significantly upgrades the potential of the area. The new lithium anomaly defined by soil geochemistry adds even more upside with the potential for additional pegmatites located under cover. We see excellent potential at Cali to host a large spodumene resource.”

Figure 3 – Soil sampling results from the Cali Lithium Project. Soil geochemistry successfully outlines outcropping spodumene pegmatite corridors. An additional lithium anomaly has been defined that occurs in an area with more extensive soil cover. The strength of the soil anomaly suggests there could be additional spodumene pegmatites located beneath cover.