LIFT intersects 16 m at 1.26% Li2O at its Echo pegmatite, Yellowknife Lithium Venture, NWT

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VANCOUVER, British Columbia, March 13, 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 Echo, Fi Most important, Fi Southwest, & Fi Boye pegmatites inside the Yellowknife Lithium Venture (“YLP”) positioned outdoors the town of Yellowknife, Northwest Territories (Determine 1). Drilling intersected vital intervals of spodumene mineralization, with the next highlights:   

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Highlights:

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• YLP-0216: 16 m at 1.26% Li₂O, (Echo)
  and:        10 m at 1.57% Li₂O
  and:        10 m at 1.29% Li₂O

• YLP-0213: 14 m at 1.20%
  Li₂O, (Echo)
  and:        15 m at 0.73% Li₂O
  together with:        2 m at 1.43% Li₂O
  and:        1 m at 0.59% Li₂O

• YLP-0208:        10 m at 0.95% Li₂O, (Echo)
  together with:        6 m at 1.38% Li₂O
  and:        3 m at 1.00% Li₂O

• YLP-0207:        10 m at 0.95% Li₂O, (Echo)
  together with:        5 m at 1.47% Li₂O
  and:        1 m at 0.79% Li₂O

• YLP-0211:        10 m at 0.91% Li₂O, (Echo)
  together with:        4 m at 1.85% Li₂O
  and:        6 m at 0.54% Li₂O
  and:        9 m at 0.50% Li₂O
  and:        4 m at 0.50% Li₂O

Dialogue of Outcomes

This information launch offers outcomes for eight drill holes (1,428 m), 5 of that are from the 2024 winter program and three from the 2023 drilling. The 5 holes from the winter program have been all drilled on the Echo pegmatite complicated whereas the 2023 holes are from the Fi Most important, Fi Southwest, and Fi Boye pegmatites. A desk of composite calculations, normal feedback associated to this dialogue, and a desk of collar headers are supplied in the direction of the top of this part.

Francis MacDonald, CEO of LIFT feedback, “The Echo pegmatite resides as much as preliminary expectations. We’re seeing a fancy stacked set of spodumene pegmatites which might be shallow-dipping which could be very favorable for open pit mining. Drill gap YLP-0216 intersected three branches of pegmatite that whole 36 meters inside one drill gap.”

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Determine 1 – Location of LIFT’s Yellowknife Lithium Venture. Drilling has been to this point centered on the Close to Discipline Group of pegmatites that are positioned to the east of the town of Yellowknife alongside a government-maintained paved freeway, in addition to the Echo goal within the Additional Afield Group.

Echo Pegmatite System

The Echo pegmatite complicated contains a fanning splay of reasonable to softly dipping dykes at its northwest finish (“Echo splay”)  that consolidates right into a steeply dipping, northwest-trending, feeder dyke (“Echo feeder”). The dyke complicated has a complete strike size of over 1.0 km with particular person dykes as much as 25 m extensive. The holes on this information launch have been all drilled into the Echo splay and are described from nearest to furthest from the Echo feeder dyke.

YLP-0216 was collared 400 m northwest of the Echo feeder to check the Echo splay roughly 250 m from its northwestern mapped extent, &LT25 to 100 m under the floor, and 50 m downdip of beforehand launched YLP-0128 (1.24% Li₂O over 10 m and 1.20% Li₂O over 5 m). Drilling intersected an 87 m interval with 50 m of pegmatite unfold over three dykes between 13-23 m in width. Assays returned vital composites for all three of those dykes, with the higher one returning 1.57% Li₂O over 10 m, the center dyke assaying 1.29% Li₂O over 10 m, and the lower-most one returning 1.26% Li₂O over 16 m (Desk 1 & 2, Figures 2 & 3).

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

Determine 3 – Cross-section illustrating YLP-0216 with outcomes as proven within the Echo pegmatite dyke with a 16 m interval of 1.26% Li₂O.

YLP-0207 examined the Echo splay on a piece 50 m northwest of YLP-0216, roughly 450 m northwest of the Echo feeder, 200 m from its northwestern mapped extent, 25-50 m under the floor, and 100 m up-dip from YLP-0213 (see under). Drilling intersected a 65 m extensive interval with 25 m of pegmatite unfold over three dykes which might be between 6-12 m extensive. Assays returned composites of 0.95% Li₂O over 10 m from the upper-most dyke, which incorporates 5 m of 1.47% Li₂O, in addition to 0.79% Li₂O over 1 m from the second dyke.

YLP-0213 examined the identical part as YLP-207 however with intersections focused 50 m additional downdip to 75-100 m under the floor. Drilling intersected two dyke corridors separated by 55 m of nation rock. The higher hall is 66 m extensive with 30 m of pegmatite unfold over a 16 m extensive dyke and 5 subsidiary dykes between 1-6 m in width. The decrease hall contains a single dyke that’s 23 m extensive. Assays returned 1.20% Li₂O over 14 m from the thick dyke within the higher hall together with 0.59% Li₂O over 1 m from one of many subsidiary dykes. The decrease hall returned a composite of 0.73% Li₂O over 15 m that features 2 m of 1.43% Li₂O (Desk 1 & 2, Figures 2 & 4). 

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Determine 4 – Cross-section illustrating YLP-0213 with outcomes as proven within the Echo pegmatite dyke with a 14 m interval of 1.20% Li₂O.

YLP-0211 was collared 100 m northwest of YLP-0213 to check the Echo splay roughly 550 m from the feeder dyke, 100 m from its northwest extent, 50-100 m under the floor, and 50 m downdip of YLP-0203 (1.24% Li₂O over 13 m). Drilling intersected two intervals of elevated pegmatite; an higher one that’s 35 m extensive with 20 m of pegmatite unfold over three dykes between 4-10 m in width in addition to a decrease one that’s 17 m extensive and incorporates 13 m of pegmatite. Assays for the higher interval returned 0.91% Li₂O over 10 m and 0.54% Li₂O over 6 m, the previous together with 4 m of 1.85% Li₂O. The decrease interval returned composites of 0.50% Li₂O over 9 m and 0.50% Li₂O over 4 m (Desk 1 & 2, Figures 2 & 5).

Determine 5: – Cross-section illustrating YLP-0208 with outcomes as proven within the Echo pegmatite dyke with a ten m interval of 0.95% Li₂O.

YLP-0208 examined the tip of the Echo splay simply 50 m from its northwest mapped extent, 600 m from the feeder dyke, 50-100 m under the floor, and 50 m downdip of YLP-0202 (0.90% Li₂O over 3 m and 0.50% Li₂O over 7 m). Drilling intersected a 58 m extensive interval with 32 m of pegmatite unfold over 4 dykes between 3-12 m in width. Assay composites for the upper-most dyke returned 0.95% Li₂O over 10 m that features 6 m at 1.38% Li₂O whereas the lower-most dyke returned 1.00% Li₂O over 3 m (Desk 1 & 2, Figures 2 & 6).

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Determine 6: – Cross-section illustrating YLP-0211 with outcomes as proven within the Echo pegmatite dyke with a ten m interval of 0.91% Li₂O.

Fi Most important Pegmatite

The Fi Most important pegmatite is positioned 250 m to the northeast of the Fi-SW pegmatite complicated and crops out over not less than 1.5 km of strike size. The construction dips between 70°-85° to the west-northwest and consists of two or extra dykes that seem to coalesce within the central a part of the complicated.

YLP-0190 examined the Fi Most important complicated roughly 200 m north of the traditionally mapped northern finish extent of the complicated and 400 m north of the two^nd most northerly gap (YLP-0024) that returned 1.12% Li₂O over 24 m. Drilling intersected a 126 m extensive hall with 31 m of pegmatite cut up amongst two 11 m extensive dykes in addition to 5 1-3 m extensive dykes. No vital assay outcomes have been returned (Desk 1 & 2, Determine 7).

Fi Boye Pegmatite

The Fi Boye pegmatite contains a hall of principally north-south placing, steeply east-dipping, dykes that run parallel to, and lie 500-700 m west of, the Fi Most important complicated. The Fi Boye hall has not less than 1.7 km of placing size, incorporates between 1-5 dykes, and ranges from roughly 10-200 m in width. Solely two holes have been drilled on this dyke in 2023, considered one of which is reported under.

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YLP-0186 was drilled to check the Fi Boye dyke roughly 500 m from its northern mapped extent and 100 m beneath the floor. Drilling intersected a 25 m extensive hall with 21 m of pegmatite that returned negligible assay outcomes (Desk 1 & 2, Determine 7).  

Determine 7 – Plan view displaying the floor expression of the Fi Most important and Fi Boye pegmatites with diamond drill holes reported on this press launch.

Fi Southwest Pegmatite

The Fi SW dyke strikes over not less than 1.1 km on floor with a mean outcropping width of roughly 20 m. The dyke dips between 60°- 80° to the east-southeast and traits in the direction of the north-northeast. Drilling of Fi SW present that it ranges from a single 20-40 m extensive dyke to 2-3 dykes of comparable cumulative width inside a 50-70 m extensive hall.

YLP-0187 examined the Fi SW pegmatite roughly 150 m from its northern mapped extent and 250 m vertically under the floor, in addition to 50 m, 125 m, and 200 m downdip of, respectively, beforehand launched intersections that ranged between 1.2-1.5% Li₂O over 12-23 m (YLP-0031, 0047, 0125). Drilling intersected a 20 m extensive pegmatite dyke that returned negligible grade (Desk 1 & 2, Determine 8).

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

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

Common Statements

All eight holes described on this information launch have 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 supplied under.

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 have been collected underneath the supervision of LIFT staff 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 have been then bagged, and blanks and authorized reference supplies have been inserted at common intervals. Discipline duplicates consisting of quarter-cut core samples have been additionally included within the pattern runs. Teams of samples have been positioned in massive baggage, sealed with numbered tags with a purpose 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 have been carried out by ALS. Samples have been ready for evaluation in line with ALS methodology CRU31: particular person samples have been crushed to 70% passing via 2 mm (10 mesh) display; 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. A 0.2-gram sub-sample of the pulverized materials was then dissolved in a sodium peroxide resolution 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 parts 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 have been inside acceptable limits.

Certified Particular person

The disclosure on this information launch of scientific and technical info relating to LIFT’s mineral properties has been reviewed and permitted by Ron Voordouw, Ph.D., P.Geo., Associate, Director Geoscience, Fairness Exploration Consultants Ltd., and a Certified Particular person 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 positioned in Canada. The Firm’s flagship venture is the Yellowknife Lithium Venture positioned 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 Venture in Northwest Territories inside the Little Nahanni Pegmatite Group.

Cautionary Assertion Relating to Ahead-Trying Info

Sure statements included on this press launch represent forward-looking info or statements (collectively, “forward-looking statements”), together with these recognized by the expressions “anticipate”, “consider”, “plan”, “estimate”, “count on”, “intend”, “might”, “ought to” and comparable expressions to the extent they relate to the Firm or its administration. The forward-looking statements will not be historic info however replicate present expectations relating to future outcomes or occasions. This press launch incorporates ahead wanting statements. These forward-looking statements and data replicate administration’s present beliefs and are primarily based on assumptions made by and data presently obtainable 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 primarily based 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. Further details about these assumptions and dangers and uncertainties is contained underneath “Danger Elements and Uncertainties” within the Firm’s newest annual info type filed on March 30, 2023, which is out there underneath the Firm’s SEDAR+ profile at www.sedarplus.ca, and in different filings that the Firm has made and should 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 info, 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.

Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this information launch.

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