Li-FT Power (LIFT.V) has released the assay results from an additional ten holes drilled on its flagship Yellowknife lithium project in the Northwest Territories. Four of the ten holes came up empty but some of the holes that did hit showed nice lithium-bearing intervals. At Ki, for instance, the drill bit intersected 12 meters of 1.21% Li2O while hole 184, also drilled at Ki encountered 13 meters of 1.11% Li2O.
The empty holes did intersect dykes and pegmatite but the lab results indicated an average grade of less than 0.10% Li2O and are thus not of any interest to build tonnage at Yellowknife. This week’s release also indicates we are getting close to the end of the 2023 drill program news flow as the company has reported on almost 90% of all holes; the assay results from 24 holes remain outstanding. Fortunately the company has already kicked off its 100 hole winter drill program and if the labs work fast, Li-FT Power may just continue its habit of publishing assay results on a weekly basis.
Disclosure: The author has a small long position in Li-FT Power. Please read the disclaimer.
