Latest news with #Li-FTPowerLtd
Yahoo
24-04-2025
- Business
- Yahoo
LIFT Reports Preliminary Lithium Conversion Testwork Results for the Yellowknife Lithium Project
Vancouver, British Columbia--(Newsfile Corp. - April 24, 2025) - Li-FT Power Ltd. (TSXV: LIFT) (OTCQX: LIFFF) (FSE: WS0) ("LIFT" or the "Company") is pleased to report results from preliminary laboratory lithium conversion testwork completed in 2025 on a spodumene concentrate sample from material from the Yellowknife Lithium Project, Northwest Territories, Canada. Metallurgical testwork comprised the calcination, sulphuric acid mixing and roasting, and water leaching tests which were undertaken at SGS Canada Inc. ("SGS") in Lakefield, Ontario. Testing was completed on a DMS concentrate sample produced from pegmatite material from the Big East (BigE) deposit (see press release dated September 23, 2024). The conversion test work showed excellent results with up to 98% lithium extraction under typical operating conditions. Summary of Results Francis MacDonald, CEO of LIFT comments, "We are very pleased with the results of this preliminary lithium conversion test work, which demonstrated lithium extraction rates of up to 98%, a strong validation of the spodumene concentrate quality from our Yellowknife Lithium Project. These findings mark a significant technical milestone as we continue to advance the project towards becoming a future source of high-quality lithium for the North American battery supply chain." Details of the Metallurgical Program Preliminary lithium conversion testing was completed on a DMS concentrate sample produced from pegmatite material from the Big East deposit (see press release dated September 23, 2024). Lithium chemical analysis of the concentrate sample was performed by sodium peroxide fusion digestion followed by inductively coupled plasma optical spectroscopy (ICP-OES). Whole rock analysis (WRA) was performed by borate fusion and X-ray Fluorescence (XRF). Elemental composition of the DMS spodumene concentrate sample tested is presented in Table 1. The spodumene concentrate sample graded 5.60% Li2O and contained 0.65% Fe2O3. Table 1: Chemical analysis of the spodumene concentrate sample Component Composition (%) LiLi2OFe2O3SiO2Al2O3MgOCaONa2OK2OMnO 2.605.600.6567.123.80.110.121.020.740.10 The mineralogical composition of the spodumene concentrate sample was determined using the semi-quantitative Rietveld refinement method based on X-Ray Diffraction (XRD) results and are shown in Table 2. The spodumene concentrate sample contained 70% spodumene, 15.4% quartz, 8.7% albite, 3.9% muscovite, 1.2% orthoclase, and minor quantities (<1%) of biotite and magnetite. Table 2: Spodumene concentrate sample mineralogy Mineral Composition (%) Spodumene 70.0 Quartz 15.4 Albite 8.7 Muscovite 3.9 Orthoclase 1.2 Biotite 0.7 Magnetite 0.1 Total 100 Testwork Scope The conversion testwork program included: Calcination; Sulphuric acid mixing and Roasting; Water leaching. The objective of calcination is to convert alpha-spodumene into the leachable beta- and/or gamma-phases. The conversion process increases the volume and the surface area of the material, weakening its crystal structure allowing for subsequent lithium extraction (leaching). For calcination, roughly 400 g of spodumene concentrate was placed in a crucible and heated to temperatures ranging from 1000°C to 1100°C in a laboratory furnace (Figure 1). Calcined samples were ground to roughly 150 µm. In order to confirm conversion and quantify metal extractions, calcined samples underwent acid mixing followed by roasting in laboratory furnace, at 250°C. The objective of acid mixing and roasting is to convert the lithium in the spodumene to lithium sulphate. Water leaching tests were then completed on the lithium sulphate samples at 60°C for 60 minutes, with results reported in Table 3. The water leaching setup is shown in Figure 1. Figure 1: Muffle furnace used for calcination (left) and the water leaching laboratory setup. To view an enhanced version of this graphic, please visit: Test work Results Figure 2 shows an example image of the spodumene concentrate before and after calcination. Figure 2: Example images of spodumene concentrate (left) and calcination product (right). To view an enhanced version of this graphic, please visit: Table 3 summarizes the water leaching test results and shows lithium extractions and compositions of the pregnant leach solution (PLS). Lithium concentrations in solutions were up to 19,600 mg/L with typical impurities present (e.g., aluminium, iron, calcium, sodium). Table 3: Summary of Water leaching test results Parameter Units Test 1 2 3 4 Calcination Temp. °C 1000 1050 1050 1100 Residence Time min. 30 30 15 30 Lithium Extraction % 79 98 96 98 PLS Concentrations LiAlFeMgCaNaKMn mg/L 15,9004,000845783851340565275 19,1003590535423261640484163 19,6004200622553631530534180 19,6003750514373221860528145 Figure 3 shows the effect of calcination time and temperature on water leaching lithium extraction. At calcination temperatures above 1050°C (typical industrial conversion conditions) and residence time of 30 minutes, lithium extraction reached 98%. There was only a slight decrease in lithium extraction (96%) when the residence time was decreased to 15 minutes. Figure 3: Impact of calcination time and temperature and leach extraction. To view an enhanced version of this graphic, please visit: The preliminary testwork results show that spodumene concentrate produced from the Yellowknife Lithium project is amenable to conversion under typical operating parameters. Qualified Person The disclosure in this news release of scientific and technical information regarding LIFT's mineral properties has been reviewed and approved by Jarrett Quinn, Ph.D., Process Director, Synectiq Inc., and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) and member in good standing of the Ordre des Ingénieurs du Québec (OIQ) (Registration number: 5018119). About LIFT LIFT is a mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects located in Canada. The Company's flagship project is the Yellowknife Lithium Project located in Northwest Territories, Canada. LIFT also holds three early-stage exploration properties in Quebec, Canada with excellent potential for the discovery of buried lithium pegmatites, as well as the Cali Project in Northwest Territories within the Little Nahanni Pegmatite Group. For further information, please contact: Francis MacDonald Chief Executive Officer Tel: + 1.604.609.6185 Email: investors@ Daniel GordonInvestor RelationsTel: +1.604.609.6185 Email: investors@ Cautionary Statement Regarding Forward-Looking Information Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward-looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-Looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors" in the Company's latest annual information form filed on March 21, 2025, which is available under the Company's SEDAR+ profile at and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-Looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
17-04-2025
- Business
- Yahoo
LIFT Commences 2025 Environmental Baseline Data Collection Program at the Yellowknife Lithium Project
Vancouver, British Columbia--(Newsfile Corp. - April 17, 2025) - Li-FT Power Ltd. (TSXV: LIFT) (OTCQX: LIFFF) (FSE: WS0) ("LIFT" or the "Company") is pleased to announce the commencement of the 2025 Environmental Baseline Data Collection Program (the "Program") at the Yellowknife Lithium Project (the "Project"). The Program represents a significant step in preparing for advanced permitting activities for the Project, including Environmental Assessment, and will also inform mine planning activities, including economic studies. Baseline data collected in 2025 will be used to understand current environmental and socioeconomic conditions in the area and constitutes the first of two years of comprehensive baseline data required for Environmental Assessment. The 2025 program will build on data collected in 2023 and 2024 as well as the wealth of existing data from the area, which is well-studied due to its proximity to Yellowknife and historic mining and exploration activities in the area. The Program will include local and regional baseline data collection activities and will focus on areas immediately adjacent to known pegmatite dykes where Project infrastructure may be present in the future (Figure 1). Lakes and streams that are immediately up- and down-stream of potential future infrastructure will also be included in the program, along with areas that are up- and downwind of potential future Project activities. The Program will include aquatic, atmospheric, terrestrial, and human environment components and will employ approaches rooted in the scientific method and Indigenous Knowledge. Figure 1 - Location of LIFT's Yellowknife Lithium Project and baseline data collection study area. To view an enhanced version of this graphic, please visit: LIFT is working closely with local Indigenous communities and regulatory authorities to develop and execute the baseline data collection programs for the Project. Community engagement sessions specific to baseline data collection programs were held in 2024, with additional sessions planned for 2025. The Program will be managed by Det'on Cho Environmental, which is owned by the Yellowknives Dene First Nation and prioritises Indigenous employment. April Hayward, CSO of LIFT, comments, "The launch of the 2025 Baseline Data Collection Program marks a critical step in advancing the Yellowknife Lithium Project. We appreciate the ongoing support of our Indigenous partners and will continue to work closely with local communities and relevant regulatory authorities to ensure we have the data and information we require for future permitting activities, including Environmental Assessment." Baseline Data Collection Program Components Aquatics Program: The program includes bathymetry, hydrology, hydrogeology, and water quality surveys as well as fish, fish habitat, and aquatic life surveys. The program began on April 5th with under-ice water quality sampling, fish habitat surveys, and winter hydrological surveys. The aquatics program will continue on an approximately monthly basis until the end of September or beginning of October, when freeze-up is likely to occur. Atmospherics Program: The program includes air quality, noise, vibration, light, and meteorological components to establish ambient conditions in and around the Project area. The atmospheric data collection program will begin in late spring/early summer will continue year-round going forward. Terrestrial Program: The program includes vegetation, soils and terrain, permafrost, host rock geochemistry, and wildlife components. Soils and vegetation field programs will occur in the summer (July-September) and will be used to verify models built from geological maps and remote sensing data. The host rock geochemistry program will build upon initial work completed in 2023 and 2024 and will include static and kinetic testing of host rock. The wildlife program will include acoustic data collection, the analysis of available satellite collar data, and the continuation of camera trapping, which commenced in the autumn of 2023. Human Environment Program: The program will include heritage resources, land and resource use, social and community conditions, and economic components. The 2025 program builds on archaeological studies and socioeconomic data collected in 2023 and will expand to include Indigenous resource use and Indigenous knowledge studies (which will be integrated with the environmental data collection program) beginning in April of 2024. About LIFT LIFT is a mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects located in Canada. The Company's flagship project is the Yellowknife Lithium Project located in Northwest Territories, Canada. LIFT also holds three early-stage exploration properties in Quebec, Canada with excellent potential for the discovery of buried lithium pegmatites, as well as the Cali Project in Northwest Territories within the Little Nahanni Pegmatite Group. For further information, please contact: Francis MacDonald Daniel Gordon Chief Executive Officer Investor Relations Tel: + 1.604.609.6185 Tel: +1.604.609.6185 Email: investors@ Email: investors@ Website: Cautionary Statement Regarding Forward-Looking Information Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors" in the Company's latest annual information form filed on March 21, 2025, which is available under the Company's SEDAR+ profile at and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. 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Associated Press
27-02-2025
- Business
- Associated Press
LIFT Prepares for Initial Diamond Drill Program at the 25 km Long Spodumene Anomaly at the Pontax Project, Quebec
Vancouver, British Columbia--(Newsfile Corp. - February 27, 2025) - Li-FT Power Ltd. (TSXV: LIFT) (OTCQX: LIFFF) (FSE: WS0) ('LIFT' or the 'Company') is pleased to provide an update on the exploration results from the Pontax Lithium Project (the 'Project'), located in the James Bay region of Quebec, and also provide an update on the planned 2025 maiden drill program at the Project. The Pontax Lithium Project is comprised of claims that are 100% owned by LIFT as well as claims under an option agreement with Harfang Exploration Ltd. During the summers of 2023 and 2024 LIFT collected 336 till samples for indicator mineral analysis in areas with very little outcrop. The goal was to identify spodumene grains in the soil/till that would signal the presence of nearby spodumene pegmatites beneath the soil cover. The programs resulted in the definition of a 25 by 10 km area of high spodumene grain counts in glacial sediments. Francis MacDonald, CEO of LIFT, comments, 'If spodumene is present in soils or glacial sediments, it is most likely sourced from lithium bearing spodumene pegmatites within close proximity. The areal extent of the Pontax spodumene anomaly is very impressive and suggests more than one pegmatite dyke is likely the cause of this. We believe there are at least three sizable targets, all within the same geological setting, all with high spodumene counts. The team is excited to get the drills started in April 2025 and are busily finalizing details for the program which is targeting the sources of this extensive spodumene anomaly.' Figure 1 - Location of LIFT's Pontax, Moyenne and Rupert Projects, located in the James Bay region of Quebec in similar geology to major spodumene deposits, e.g. Galaxy, Whabouchi, Rose. Detailed illustrations for the Pontax project target focus on the boxed area. To view an enhanced version of this graphic, please visit: Figure 2 - Pontax Project spodumene and holmquistite grain counts from till samples collected in 2023 and 2024 at LIFT's Pontax Project. (Holmquistite is a lithium-bearing amphibole commonly associated with spodumene-bearing dykes). To view an enhanced version of this graphic, please visit: Figure 3 - Lithium values in till geochemistry samples at the Pontax Project. High Li values in till geochemistry occur proximal to fractionated pegmatites mapped in outcrop. To view an enhanced version of this graphic, please visit: Figure 4 - K/Rb ratios from outcropping pegmatite samples in the Pontax area. K/Rb values define a ~25 kilometer trend which follows the folded contact between mafic volcanic rocks and clastic sedimentary rocks. To view an enhanced version of this graphic, please visit: Background on the Pontax Project The Pontax Lithium Project is located in the James Bay region of Quebec, approximately 300 km to the north of the town of Matagami, along the Billy Diamond Highway that provides access into the northern regions of Quebec. Matagami is a regional center with rail access. The Pontax Lithium Project is located along the Pontax River within the Anatacau-Pivert greenstone belt, a thin band of supracrustal rocks that occurs between the La Grande granitoid-gneiss terrane to the east and the Nemiscau sub-province to the west (Moukhsil et al., 2003). The Nemiscau sub-province is a large sedimentary basin which has undergone amphibolite to granulite facies metamorphism and is expressed in outcrop is diatexite and metatexites (rocks that have been subjected to high temperatures and have undergone some degree of partial melting and little to none of the primary textures remain). The Anatacau-Pivert greenstone belt is located to the east of the Nemiscau sub-province and is composed of lower amphibolite grade mafic to felsic volcanics, siltstone to wackes, iron formations, and local peridotite intrusions. Metamorphism is lower grade than the Nemiscau sedimentary rocks with primary textures being preserved and no onset of partial melting. The Pontax Formation is a conglomerate to wacke unit which sits unconformably on top of the Anatacau-Pivert supracrustal rocks. Clast composition is polymictic, ranging from granitic rocks to volcanic and sedimentary rocks. In some outcrops, quartz veins have been observed in the underlying volcanic rocks that terminate sharply against the Pontax Formation indicating the veining predated the deposition of the conglomerates. Polymictic conglomerates that unconformably overlie volcano-sedimentary rocks have been shown to mark major structural zones (e.g. the Timiskaming assemblage in the Abitibi greenstone belt). The east-west trend of the Pontax Formation suggests that there is an east-west trending structural zone that transects the Pontax Property; that trend is a prospective structural setting for hosting spodumene pegmatites. Discussion of exploration program and methodology LIFT initiated exploration on the Pontax Lithium Project during the summer of 2022. The initial exploration program consisted of a regional till geochemistry sampling program that covered all of LIFT's Quebec properties ( see press release dated November 15, 2022). During the spring of 2023, LIFT drill-tested two anomalies defined with till geochemistry on the Rupert Project ( see press release dated March 29, 2023). Till geochemistry outlined spatially continuous anomalies in Li-Cs-Ta-Sn-Nb at Target A and Target B. Results from the drill program were disappointing; no spodumene pegmatites were intersected. LIFT's technical team made the conclusion that till geochemistry was not an effective tool to define spodumene pegmatites under cover. During the summer of 2023, LIFT decided to trial mineral counting as a methodology to target spodumene in glacial sediments. Indicator mineral counts have been used for decades in diamond and gold exploration programs and have been fundamental tool for a number of discoveries in Canada (i.e. Ekati, Diavik, Gahcho Kue (diamonds), Rainy River, Meliadine, Casa Berardi (gold), Lac des Iles (PGE), and Voisey's Bay (Ni sulphide)). The premise of this sampling technique is that unique minerals, and combinations of minerals, occur in mineral deposits. These minerals are transported along ice-flow during glaciation periods and get smeared across the landscape. Till samples (usually 5 - 50 kilograms of till) are collected and then processed in a way to isolate these indicator minerals, which are then counted. Areas with high 'counts' typically indicate promising targets for further exploration. LIFT selected areas with high lithium value in till geochemistry (and associated pathfinder elements) as areas to collect sampling for spodumene grain counts within the Pontax and Rupert projects. Samples were collected both up-ice and down-ice of the Whabouchi lithium deposit (Rio Tinto - Investissement Quebec, 50/50 joint venture) on LIFT's claims for orientation. The samples collected down-ice of Whabouchi returned hundreds of spodumene grains while the samples up-ice returned background values of less than 10 spodumene grains ( see press release dated May 2, 2024). During the summer of 2024, LIFT collected an additional 336 till samples for spodumene counts, as well as conducted geologic mapping, prospecting, surficial mapping, and magnetics surveys. The surficial geology of the Pontax Property was influenced by the incursion of the Tyrrell Sea at the end of the last ice glaciation. The sea invaded the James Bay Lowlands of Quebec and Ontario upon retreat of the glacier then underwent forced regression during glacio-isostatic rebound. Glaciomarine silt and clay deposits are found in the topographic lows across the Pontax Project area, with underlying till and glaciofluvial deposits protruding to create local topographic highs. Reworking of these topographic highs by wave action in the near-shore environment complicates the dispersal of indicator minerals in the glacial sediments, but the bedrock source regions are suspected to be local because evidence for long-shore drift-the beaches themselves-are isolated to individual uplands and do not extend regionally across the landscape. Figure 5 - Spodumene and Holmquistite Zonation map illustrating counts across the Pontax Project. To view an enhanced version of this graphic, please visit: Figure 6 - Mineral Zonation and structural trends map with Drill fence location. To view an enhanced version of this graphic, please visit: Mineralogical Zonation and Structural Geology of the Pontax Pegmatites At the up-ice termination of the anomalous lithium and spodumene-grains in till (Figures 2 & 3) there are outcropping exposures of pegmatite dykes protruding through glacial cover that are aligned in an E-W direction (Figure 5, map corridors A & B). Geochemical sampling and mineralogical observations of these dykes reveals that accessory levels of beryl, apatite and garnet are present in some of the dykes. These minerals are common in, or in close proximity to, spodumene dykes in other deposits (e.g. Galaxy, Greenbushes,). The beryl-apatite-garnet bearing dykes sampled at Pontax have the highest Li, Cs, Ta and Rb concentrations of all the dykes sampled across the property and are therefore considered good vectoring minerals for potentially locating near-by spodumene dykes hidden under cover. Holmquistite, a lithium-bearing amphibole commonly associated with spodumene-bearing dykes, was also observed in the contacts of dykes within Corridor A. Structurally, the corridors of dykes follow near-vertical east-west oriented stratigraphic contacts in isoclinal folds at or near the Anatacau-Pivert greenstones and the Pontax Formation meta sediment unconformity. Drill Targets In 2025, 5,000 m of diamond drilling is planned to cross Corridors A, B and C in five drill fences (Figure 6). The drilling is prioritised where Li-in-till and spodumene grains-in till anomalies terminate up ice against the corridors. Drilling will focus on combinations of beryl-apatite-holmquisite bearing dyke swarms with strongest concentrations of Li-Cs-Ta and K/Rb (Figure 4). Holes are planned to a maximum vertical depth of 100 m from surface. LIFT Announces DSU Grant LIFT announces that it has granted a total of 10,543 Deferred Share Units ('DSU') to certain independent directors of the Company in lieu of director fees for the first quarter, at a fair market value of C$2.45 per DSU. The DSUs were granted in accordance with the Company's Omnibus Share Incentive Plan, which was approved by shareholders on February 13 th, 2024. Each DSU represents the right to receive one common share in the share capital of the Company. The DSUs vest one year from the grant date and are settled in accordance with the terms of the Company's Share Incentive Plan, a copy of which is available on the Company's SEDAR+ profile. Termination of Option Agreement Additionally, the Company announces that it has terminated its option to acquire a 100% interest in the Thompson Lundmark Property, pursuant to an option agreement dated February 18, 2023 (the 'Option Agreement'). In accordance with the Option Agreement, the Company has given notice for the termination of the Option Agreement, effective February 18, 2025. Qualified Person The disclosure in this news release of scientific and technical information regarding LIFT's mineral properties has been reviewed and approved by Ron Voordouw, Ph.D., Partner, Director Geoscience, Equity Exploration Consultants Ltd., and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) and member in good standing with the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists (NAPEG) (Geologist Registration number: L5245). About LIFT LIFT is a mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects located in Canada. The Company's flagship project is the Yellowknife Lithium Project located in Northwest Territories, Canada. LIFT also holds three early-stage exploration properties in Quebec, Canada with excellent potential for the discovery of buried lithium pegmatites, as well as the Cali Project in Northwest Territories within the Little Nahanni Pegmatite Group. For further information, please contact: Francis MacDonald Chief Executive Officer Tel: + 1.604.609.6185 Email: [email protected] Investor Relations Tel: +1.604.609.6185 Cautionary Statement Regarding Forward-Looking Information Certain statements included in this press release constitute forward-looking information or statements (collectively, 'forward-looking statements'), including those identified by the expressions 'anticipate', 'believe', 'plan', 'estimate', 'expect', 'intend', 'may', 'should' and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward-looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-Looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under 'Risk Factors' in the Company's latest annual information form filed on March 27, 2024, which is available under the Company's SEDAR+ profile at and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-Looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Yahoo
27-02-2025
- Business
- Yahoo
LIFT Prepares for Initial Diamond Drill Program at the 25 km Long Spodumene Anomaly at the Pontax Project, Quebec
Vancouver, British Columbia--(Newsfile Corp. - February 27, 2025) - Li-FT Power Ltd. (TSXV: LIFT) (OTCQX: LIFFF) (FSE: WS0) ("LIFT" or the "Company") is pleased to provide an update on the exploration results from the Pontax Lithium Project (the "Project"), located in the James Bay region of Quebec, and also provide an update on the planned 2025 maiden drill program at the Project. The Pontax Lithium Project is comprised of claims that are 100% owned by LIFT as well as claims under an option agreement with Harfang Exploration Ltd. During the summers of 2023 and 2024 LIFT collected 336 till samples for indicator mineral analysis in areas with very little outcrop. The goal was to identify spodumene grains in the soil/till that would signal the presence of nearby spodumene pegmatites beneath the soil cover. The programs resulted in the definition of a 25 by 10 km area of high spodumene grain counts in glacial sediments. Francis MacDonald, CEO of LIFT, comments, "If spodumene is present in soils or glacial sediments, it is most likely sourced from lithium bearing spodumene pegmatites within close proximity. The areal extent of the Pontax spodumene anomaly is very impressive and suggests more than one pegmatite dyke is likely the cause of this. We believe there are at least three sizable targets, all within the same geological setting, all with high spodumene counts. The team is excited to get the drills started in April 2025 and are busily finalizing details for the program which is targeting the sources of this extensive spodumene anomaly." Figure 1 - Location of LIFT's Pontax, Moyenne and Rupert Projects, located in the James Bay region of Quebec in similar geology to major spodumene deposits, e.g. Galaxy, Whabouchi, Rose. Detailed illustrations for the Pontax project target focus on the boxed area. To view an enhanced version of this graphic, please visit: Figure 2 - Pontax Project spodumene and holmquistite grain counts from till samples collected in 2023 and 2024 at LIFT's Pontax Project. (Holmquistite is a lithium-bearing amphibole commonly associated with spodumene-bearing dykes). To view an enhanced version of this graphic, please visit: Figure 3 - Lithium values in till geochemistry samples at the Pontax Project. High Li values in till geochemistry occur proximal to fractionated pegmatites mapped in outcrop. To view an enhanced version of this graphic, please visit: Figure 4 - K/Rb ratios from outcropping pegmatite samples in the Pontax area. K/Rb values define a ~25 kilometer trend which follows the folded contact between mafic volcanic rocks and clastic sedimentary rocks. To view an enhanced version of this graphic, please visit: Background on the Pontax Project The Pontax Lithium Project is located in the James Bay region of Quebec, approximately 300 km to the north of the town of Matagami, along the Billy Diamond Highway that provides access into the northern regions of Quebec. Matagami is a regional center with rail access. The Pontax Lithium Project is located along the Pontax River within the Anatacau-Pivert greenstone belt, a thin band of supracrustal rocks that occurs between the La Grande granitoid-gneiss terrane to the east and the Nemiscau sub-province to the west (Moukhsil et al., 2003). The Nemiscau sub-province is a large sedimentary basin which has undergone amphibolite to granulite facies metamorphism and is expressed in outcrop is diatexite and metatexites (rocks that have been subjected to high temperatures and have undergone some degree of partial melting and little to none of the primary textures remain). The Anatacau-Pivert greenstone belt is located to the east of the Nemiscau sub-province and is composed of lower amphibolite grade mafic to felsic volcanics, siltstone to wackes, iron formations, and local peridotite intrusions. Metamorphism is lower grade than the Nemiscau sedimentary rocks with primary textures being preserved and no onset of partial melting. The Pontax Formation is a conglomerate to wacke unit which sits unconformably on top of the Anatacau-Pivert supracrustal rocks. Clast composition is polymictic, ranging from granitic rocks to volcanic and sedimentary rocks. In some outcrops, quartz veins have been observed in the underlying volcanic rocks that terminate sharply against the Pontax Formation indicating the veining predated the deposition of the conglomerates. Polymictic conglomerates that unconformably overlie volcano-sedimentary rocks have been shown to mark major structural zones (e.g. the Timiskaming assemblage in the Abitibi greenstone belt). The east-west trend of the Pontax Formation suggests that there is an east-west trending structural zone that transects the Pontax Property; that trend is a prospective structural setting for hosting spodumene pegmatites. Discussion of exploration program and methodology LIFT initiated exploration on the Pontax Lithium Project during the summer of 2022. The initial exploration program consisted of a regional till geochemistry sampling program that covered all of LIFT's Quebec properties (see press release dated November 15, 2022). During the spring of 2023, LIFT drill-tested two anomalies defined with till geochemistry on the Rupert Project (see press release dated March 29, 2023). Till geochemistry outlined spatially continuous anomalies in Li-Cs-Ta-Sn-Nb at Target A and Target B. Results from the drill program were disappointing; no spodumene pegmatites were intersected. LIFT's technical team made the conclusion that till geochemistry was not an effective tool to define spodumene pegmatites under cover. During the summer of 2023, LIFT decided to trial mineral counting as a methodology to target spodumene in glacial sediments. Indicator mineral counts have been used for decades in diamond and gold exploration programs and have been fundamental tool for a number of discoveries in Canada (i.e. Ekati, Diavik, Gahcho Kue (diamonds), Rainy River, Meliadine, Casa Berardi (gold), Lac des Iles (PGE), and Voisey's Bay (Ni sulphide)). The premise of this sampling technique is that unique minerals, and combinations of minerals, occur in mineral deposits. These minerals are transported along ice-flow during glaciation periods and get smeared across the landscape. Till samples (usually 5 - 50 kilograms of till) are collected and then processed in a way to isolate these indicator minerals, which are then counted. Areas with high "counts" typically indicate promising targets for further exploration. LIFT selected areas with high lithium value in till geochemistry (and associated pathfinder elements) as areas to collect sampling for spodumene grain counts within the Pontax and Rupert projects. Samples were collected both up-ice and down-ice of the Whabouchi lithium deposit (Rio Tinto - Investissement Quebec, 50/50 joint venture) on LIFT's claims for orientation. The samples collected down-ice of Whabouchi returned hundreds of spodumene grains while the samples up-ice returned background values of less than 10 spodumene grains (see press release dated May 2, 2024). During the summer of 2024, LIFT collected an additional 336 till samples for spodumene counts, as well as conducted geologic mapping, prospecting, surficial mapping, and magnetics surveys. The surficial geology of the Pontax Property was influenced by the incursion of the Tyrrell Sea at the end of the last ice glaciation. The sea invaded the James Bay Lowlands of Quebec and Ontario upon retreat of the glacier then underwent forced regression during glacio-isostatic rebound. Glaciomarine silt and clay deposits are found in the topographic lows across the Pontax Project area, with underlying till and glaciofluvial deposits protruding to create local topographic highs. Reworking of these topographic highs by wave action in the near-shore environment complicates the dispersal of indicator minerals in the glacial sediments, but the bedrock source regions are suspected to be local because evidence for long-shore drift-the beaches themselves-are isolated to individual uplands and do not extend regionally across the landscape. Figure 5 - Spodumene and Holmquistite Zonation map illustrating counts across the Pontax Project. To view an enhanced version of this graphic, please visit: Figure 6 - Mineral Zonation and structural trends map with Drill fence location. To view an enhanced version of this graphic, please visit: Mineralogical Zonation and Structural Geology of the Pontax Pegmatites At the up-ice termination of the anomalous lithium and spodumene-grains in till (Figures 2 & 3) there are outcropping exposures of pegmatite dykes protruding through glacial cover that are aligned in an E-W direction (Figure 5, map corridors A & B). Geochemical sampling and mineralogical observations of these dykes reveals that accessory levels of beryl, apatite and garnet are present in some of the dykes. These minerals are common in, or in close proximity to, spodumene dykes in other deposits (e.g. Galaxy, Greenbushes,). The beryl-apatite-garnet bearing dykes sampled at Pontax have the highest Li, Cs, Ta and Rb concentrations of all the dykes sampled across the property and are therefore considered good vectoring minerals for potentially locating near-by spodumene dykes hidden under cover. Holmquistite, a lithium-bearing amphibole commonly associated with spodumene-bearing dykes, was also observed in the contacts of dykes within Corridor A. Structurally, the corridors of dykes follow near-vertical east-west oriented stratigraphic contacts in isoclinal folds at or near the Anatacau-Pivert greenstones and the Pontax Formation meta sediment unconformity. Drill Targets In 2025, 5,000 m of diamond drilling is planned to cross Corridors A, B and C in five drill fences (Figure 6). The drilling is prioritised where Li-in-till and spodumene grains-in till anomalies terminate up ice against the corridors. Drilling will focus on combinations of beryl-apatite-holmquisite bearing dyke swarms with strongest concentrations of Li-Cs-Ta and K/Rb (Figure 4). Holes are planned to a maximum vertical depth of 100 m from surface. LIFT Announces DSU Grant LIFT announces that it has granted a total of 10,543 Deferred Share Units ("DSU") to certain independent directors of the Company in lieu of director fees for the first quarter, at a fair market value of C$2.45 per DSU. The DSUs were granted in accordance with the Company's Omnibus Share Incentive Plan, which was approved by shareholders on February 13th, 2024. Each DSU represents the right to receive one common share in the share capital of the Company. The DSUs vest one year from the grant date and are settled in accordance with the terms of the Company's Share Incentive Plan, a copy of which is available on the Company's SEDAR+ profile. Termination of Option Agreement Additionally, the Company announces that it has terminated its option to acquire a 100% interest in the Thompson Lundmark Property, pursuant to an option agreement dated February 18, 2023 (the "Option Agreement"). In accordance with the Option Agreement, the Company has given notice for the termination of the Option Agreement, effective February 18, 2025. Qualified Person The disclosure in this news release of scientific and technical information regarding LIFT's mineral properties has been reviewed and approved by Ron Voordouw, Ph.D., Partner, Director Geoscience, Equity Exploration Consultants Ltd., and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) and member in good standing with the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists (NAPEG) (Geologist Registration number: L5245). About LIFT LIFT is a mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects located in Canada. The Company's flagship project is the Yellowknife Lithium Project located in Northwest Territories, Canada. LIFT also holds three early-stage exploration properties in Quebec, Canada with excellent potential for the discovery of buried lithium pegmatites, as well as the Cali Project in Northwest Territories within the Little Nahanni Pegmatite Group. For further information, please contact: Francis MacDonald Chief Executive Officer Tel: + 1.604.609.6185 Email: investors@ Daniel GordonInvestor RelationsTel: +1.604.609.6185 Email: investors@ Cautionary Statement Regarding Forward-Looking Information Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward-looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-Looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors" in the Company's latest annual information form filed on March 27, 2024, which is available under the Company's SEDAR+ profile at and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-Looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. To view the source version of this press release, please visit Sign in to access your portfolio
