Li-FT Power (LIFT.V) doesn’t like to disappoint the market and the company has been publishing weekly updates for months now as its multi-rig drill program is for sure keeping the field team and the labs it uses busy. In its most recent exploration update, which was published earlier this week, Li-FT released the assay results from eight holes on its Yellowknife Lithium project. The holes were drilled on the Big East, Big West, Shorty and Echo zones and the highlight definitely came from the Big East area where the headline result was encountered in hole YLP-0117 where the drill bit encountered 26 meters of 1.56% Li2O starting at a depth of 164 meters. The table with all assay results can be found below.
As the image below shows, there’s no need to get worried about the depth of the encountered high-grade interval. As you can see, this is the continuation of a dipping pegmatite where previous holes have encountered strong lithium grades closer to surface. So if anything, hole YLP-0117 confirms the excellent continuation of some of these dykes which will make it a lot easier to complete resource calculations on.
That’s also what was highlighted in CEO MacDonald’s comment as he emphasized the continuity of the high-grade spodumene mineralization at Big East.
The 2023 drill program at the Yellowknife lithium project has now been concluded as the company completed 198 holes for a total of in excess of 34,000 meters of drilling. The assay results from 66 holes totalling almost 11,000 meters of drilling have yet to be released and those assays will likely be gradually released over the next few weeks and months.
Disclosure: The author has a small long position in Li-FT Power. Please read the disclaimer.
