The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
North of 60 Mining News - June 14, 2024
Held privately for almost 40 years due to the lack of interest in lithium as a major commodity, the Yellowknife Pegmatite Province has seen a burst of exploration activity due to the energy transition.
Li-FT Power Ltd. June 11 announced a batch of assays from 13 drill holes drilled at the Shorty, Ki, Echo, BIG East, Fi Southwest, Nite, and BIG West pegmatites on the company's Yellowknife Lithium project in Northwest Territories, Canada.
Combining the remaining holes from the winter program with the last hole from its drilling last summer, Li-FT reports that this will be the last reported batch while it cumulates meterage from its ongoing 18,400-meter 2024 exploration program.
"With this being the last drill results press release for a while, I would like to commend the team for operating a successful winter drill program," said Li-FT Power CEO Francies MacDonald.
In the last few weeks, Li-FT continued its near-weekly reports from its winter program and the remaining holes from last year.
Highlights from the recent batches include:
• 35 meters averaging 1.32% lithium oxide from a depth of 31 meters in hole YLP-0283 (Shorty).
• 11 meters averaging 1.16% Li2O from seven meters in YLP-0274 (Ki).
• 12 meters averaging 0.82% Li2O from 66 meters in YLP-0263 (Echo).
• 15 meters averaging 1.19% lithium oxide from a depth of 83 meters in hole YLP-0281 (Echo).
• 17 meters averaging 1.05% Li2O from 173 meters in YLP-0285 (Echo).
With a bevy of pegmatites split between two groups, Li-FT's properties consist of five pegmatites in a road-accessible area immediately east of the capital of NWT, Yellowknife, and a cluster of six about 50 kilometers (30 miles) further east.
Made up of a 141,572-hectare (349,832 acres) land package that covers some of the most prospective targets found within the Yellowknife Pegmatite Province, the company has already drilled over half the planned budget for the season.
The latest batch comes from the remaining holes from the 2024 winter program and one hole from last year's summer program. Highlights from the latest release include:
• 25 meters averaging 1.21% lithium oxide from a depth of 52 meters in hole YLP-0284 (Shorty).
• 13 meters averaging 1.05% Li2O from 56 meters in YLP-0272 (Ki).
Li-FT concluded its winter drill program at the Yellowknife Lithium project with a combined total of 286 diamond drill holes (49,548 meters) completed between the summer and winter programs.
"LIFT has drilled approximately 50,000 meters in the last 12 months and has shown the scale of the Yellowknife Lithium Project," said MacDonald. "We look forward to reporting a maiden resource estimate in the next months and also metallurgical test work."
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