LIFT Power Initiates Major Drilling Campaign at Yellowknife Lithium Project
VANCOUVER, British Columbia – Li-FT Power Ltd., trading under the symbols TSXV: LIFT, OTCQX: LIFFF, and Frankfurt: WS0, has officially announced the commencement of drilling operations at its Yellowknife Lithium Project (YLP) located in the Northwest Territories of Canada. This significant development marks a pivotal step forward in the company's efforts to expand its lithium resources in a region increasingly recognized for its mineral potential.
Ambitious 2026 Drill Program Unveiled
The company has outlined a comprehensive 6,770-meter resource drill program specifically targeting the BIG East spodumene pegmatite deposit. This initiative builds upon the robust results achieved during the 2023 and 2024 drilling campaigns, which revealed high-grade lithium mineralization that remains open along-strike and down-dip. Notable intercepts from previous drilling include impressive results such as 26 meters of 1.56% Li₂O, 22 meters of 1.35% Li₂O, and 35 meters of 1.34% Li₂O.
Diamond drill holes are strategically planned on 100-meter spaced sections with the primary objective of expanding the current BIG East inferred spodumene resource. This deposit currently represents approximately one-third of the global resource tonnes at the Yellowknife Lithium Project. The technical team at LIFT expresses strong confidence in the expansion potential of the BIG East deposit, anticipating that it could significantly augment the overall mineral resource at YLP.
Detailed Geological Insights and Expansion Strategy
The BIG East pegmatite complex is characterized by a north-northeast trending corridor of parallel dykes, exposed over a strike length of at least 1,500 meters. The width of this dike corridor varies between 20 and 100 meters, with dips ranging from 55° to 75° to the west. Previous drilling in 2023 and 2024 tested 1,200 meters of strike length to vertical depths between 150 and 250 meters from the surface.
The 2026 drilling plan comprises 26 resource holes totaling 6,770 meters. Of these, 24 holes (6,480 meters) are allocated to the main dike corridor, while two holes (290 meters) are designated for the Northeast extension. These drill holes are specifically designed to extend spodumene intercepts that remain open at the limits of prior drilling to a vertical depth of approximately 300 meters.
Cross-section analyses illustrate the geometry of the BIG East deposit and the planned drill holes, incorporating results from the 2023-2024 campaigns. Key examples include the 1.56% Li₂O over 26 meters in hole YLP-0117, 1.35% Li₂O over 22 meters in YLP-0077, and 1.34% Li₂O over 35 meters in YLP-0271. Additionally, the two holes at the northern extension target areas previously identified with intercepts such as 1.29% Li₂O over 15 meters in YLP-0079 and 1.04% Li₂O over 12 meters in YLP-0059.
Future Implications and Economic Assessment
The results from this drilling program are expected to be integrated into a Preliminary Economic Assessment (PEA) scheduled for release in 2027. This assessment will provide a detailed analysis of the economic viability and potential development pathways for the Yellowknife Lithium Project. The commencement of drilling underscores LIFT's commitment to advancing its lithium assets in the Northwest Territories, contributing to the growing demand for lithium in various industries, including electric vehicles and renewable energy storage.
As the global transition towards sustainable energy solutions accelerates, projects like the Yellowknife Lithium Project play a crucial role in securing a stable supply of critical minerals. The ongoing drilling efforts by Li-FT Power Ltd. represent a significant milestone in the exploration and development of lithium resources in Canada's northern regions.
