TSX.V: ILI | OTCQB: ARXRF
CONNECT WITH US
Imagine Lithium Inc.

September 03, 2024 6:30 AM EDT | Source: Imagine Lithium Inc.

Vancouver, British Columbia--(Newsfile Corp. - September 3, 2024) - Imagine Lithium Inc. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine"), is pleased to announce an initial NI 43-101 compliant lithium Mineral Resource Estimate ("MRE") on its Jackpot Property, located near the Town of Nipigon, Ontario.

Imagine will be hosting a webinar today at 11am EDT to discuss the resource estimate in more detail. Please register here: https://us02web.zoom.us/webinar/register/WN_dtW8UznRTv-MiX8Jsrt_5g

The webinar will be recorded for post viewing.

Jackpot Property Highlights:

The Project is well serviced by existing infrastructure with access to nearby power sources and is approximately 40 km from the Town of Nipigon and 150 km from the port of Thunder Bay and 60 km from a potential port at Red Rock (Figure 1). Jackpot is proximal to the Great Lakes and St-Lawrence Seaway giving shipping access to processing plants globally, as well as Giga factories planned for southern Ontario and a possible lithium hydroxide plant contemplated for Thunder Bay or Red Rock.

J.C. St-Amour, Imagine President commented: "The initial MRE gives Imagine an excellent starting point on which to build Mineral Resources in the near future. There are several areas of the Deposit which remain open as well as new pegmatite targets which are untested. I cannot stress enough the importance and value of the Project's location. The nearby infrastructure is a major advantage for future development of the Project as its proximity to a workforce, power, highway and ports, distinguishes Jackpot from other lithium projects which are much more remote and therefore expensive to develop. In addition, our MRE compares favourably to other deposits in the area, including Rock Tech's Georgia Lake Project, located 15 km to the north of Jackpot. The unexplored potential on the Property gives us momentum to find and build additional lithium Mineral Resources."

Table 1: Pit-Constrained Mineral Resource Estimate at 0.30% Li2O Cut-off(1-9)

Classification Tonnes
M
Li2O
%
Li2O
k tonnes
Indicated 3.1 0.85 26.2
Inferred 5.3 0.91 49.5

 

  1. Mineral Resources are not Mineral Reserves and have not demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio political, marketing, or other relevant issues.
  2. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration, however there is no certainty an upgrade to the Inferred Mineral Resource would occur or what proportion would be upgraded to an Indicated Mineral Resource.
  3. The Mineral Resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions and Guidelines (2014) prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council and CIM Best Practices Guidelines (2019).
  4. The following parameters were used to derive the Li2O cut-off value used to define the Mineral Resource:
  5. August 2024 Consensus Economics long term forecast Li2O price US$1,100/t.
  6. Exchange rate of US$0.73 = C$1.00.
  7. Process recovery of 81.5%.
  8. The 0.30% Li2O cut-off was derived from C$2.75/t mineralized mining, C$2.25/t waste mining, C$40/t processing and C$20/t G&A.
  9. Pit slopes were 50 degrees.

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/09/Imagine-Lithium-Releases-Initial-Mineral-Resource-at-Jackpot-Property.jpg

Figure 1: Jackpot Property located next to Trans-Canada Highway, power, port, railroad, and workforce.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/221892_c7431ae62425797a_002full.jpg

Table 2: Pit-Constrained Mineral Resource Estimate Sensitivity*

Indicated Inferred
Cut-Off
Li2O %
Tonnes
M
Li2O
%
Li2O
k tonnes
Tonnes
M
Li2O
%
Li2O
k tonnes
0.50 2.6 0.93 24.3 4.8 0.96 47.3
0.45 2.8 0.90 24.9 5.0 0.95 48.3
0.40 2.9 0.88 25.4 5.2 0.93 48.9
0.35 3.0 0.87 25.8 5.3 0.92 49.3
0.30 3.1 0.85 26.2 5.3 0.91 49.5

 

*See notes under Table 1.

The pit-constrained Mineral Resources are contained in two optimized conceptual open pits, the Jackpot Pit and the Casino Royale Pit (Figure 2). The Jackpot Pit contains a 3.1 Mt grading 0.85% Li2O of Indicated Mineral Resources and 2.2 Mt grading 0.82% Li2O of Inferred Mineral Resources, whereas the Casino Royale Pit contains Inferred Mineral Resources of 3.1 Mt at 1.00% Li2O. The Casino Royale Zone remains open in all directions and exploration efforts are continuing to focus on expanding this new discovery (Figure 3).

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/09/1725359708_789_Imagine-Lithium-Releases-Initial-Mineral-Resource-at-Jackpot-Property.jpg

Figure 2: Jackpot Project area showing the optimized conceptual Jackpot Pit and Casino Royale Pit boundaries.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/221892_c7431ae62425797a_003full.jpg 

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/09/1725359708_758_Imagine-Lithium-Releases-Initial-Mineral-Resource-at-Jackpot-Property.jpg
Figure 3: Casino Royale Pit boundary containing 3.1 Mt Inferred MRE @ 1.00% Li2O in eight diamond drill holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/221892_c7431ae62425797a_004full.jpg

The mineralized wireframes were developed in GEMSTM with a 2.0 m minimum down hole width and a maximum 75 m projection distance from the nearest drill hole intercept. Wireframe constrained assays were composited to 1.0 m lengths and capped at 2.5% Li2O. A LeapfrogTM block model with 2.0 m x 2.0 m x 2.0 m blocks was established and subsequent inverse distance squared grade estimation undertaken. Bulk density averaging 2.69 t/m3 was determined from 18 site visit samples. A cut-off value of 0.30% Li2O within an optimized conceptual pit shell using NPV SchedulerTM was used to quantify the Mineral Resource Estimate, which has a reasonable prospect of eventual economic extraction (Figure 4). Exploration efforts will focus on infill drilling between the Jackpot Pit shell and Casino Royale Pit, and step out drilling north and east of the Casino Royale Pit (Figure 5).

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/09/1725359708_665_Imagine-Lithium-Releases-Initial-Mineral-Resource-at-Jackpot-Property.jpg

Figure 4: Isometric view of the optimized conceptual Jackpot Pit and Casino Royale Pit with mineralized wireframes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/221892_c7431ae62425797a_005full.jpg 

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/09/1725359708_409_Imagine-Lithium-Releases-Initial-Mineral-Resource-at-Jackpot-Property.jpg

Figure 5: Idealized cross-section looking west of Jackpot Pit and Casino Royale Pit.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/221892_c7431ae62425797a_006full.jpg

An NI 43-101 Technical Report will be filed on SEDAR+ within 45 days of this news release

Qualified Persons

The technical content of this news release was reviewed and approved by Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants Inc an Independent Qualified Person as defined by the National Instrument 43-101.

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot Lithium Property located in the Georgia Lake area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by road from the Trans-Canada Highway (Hwy 11), and is in proximity to sources of power, railroads, and ports. The Jackpot Property consists of 297 mineral claims covering 18,800 hectares.

On Behalf Of The Board

"J.C. St-Amour"
J.C. St-Amour, President

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 release.

Forward-Looking Statement: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR+ in Canada (available at www.sedarplus.ca).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221892

info

2024-09-03 05:30:00

May 28, 2024 7:00 AM EDT | Source: Imagine Lithium Inc.

Vancouver, British Columbia--(Newsfile Corp. - May 28, 2024) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to report the largest lithium bearing drill intersection on the property to date at the Jackpot Project. The Jackpot lithium project is located in the Georgia Lake Pegmatite Field, approximately 140km northeast of Thunder Bay, Ontario (Figure 1). The Jackpot property is characterized by swarms of mineralized lithium-bearing granitic pegmatite dikes distributed over at least five zones on an 18,800 ha land package (Figure 2).

Jackpot West Extension highlights include:

The most recent drill results from the winter drill program continue to support our exploration model and highlight the importance of drilling previously untested areas of the property. The Company commenced a mapping and prospecting program in early May and have discovered new spodumene bearing pegmatite dykes east of the '500 Pegmatite' and southwest of hole JP-24-31.

J.C. St-Amour, President of Imagine, commented, "Today's near surface results come from the western extension of the Jackpot Main Zone and are the upshot of step out and exploration drilling, demonstrating there is still ample room for expansion even in zones thought to be well defined and understood. The recently discovered Casino Royale Zone has been traced in drilling for 200 m and will be the focus of a fall drill program. In addition, the discovery of new spodumene bearing pegmatite southwest of hole JP-24-31 and east of the '500 Pegmatite' support our exploration model and demonstrates the potential to add lithium resources within our significant land package."

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/05/Imagine-Lithium-Intersects-3510m-of-092-Li2O-at-Jackpot-West.jpg

Figure 1: Jackpot property located next to Trans-Canada Highway, power, port, railroad, and workforce.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/210750_f138ac14c41f0820_001full.jpg

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/05/1716899514_668_Imagine-Lithium-Intersects-3510m-of-092-Li2O-at-Jackpot-West.jpg

Figure 2: Jackpot project target zones and diamond drillhole collar locations.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/210750_f138ac14c41f0820_002full.jpg

Imagine Lithium has drilled a total of 44,520m in 298 diamond drillholes on the Jackpot Project since 2018. The winter 2024 program completed a total of 6,170m in 40 diamond drillholes. Results announced today continue to demonstrate the importance of drilling to develop near-surface lithium resources at the Jackpot Main Zone (Table 1). Our summer field program will focus on identifying new spodumene bearing pegmatite targets outside of the Jackpot Main zone. (Figure 2).

Table 1. Significant Li2O (%) intervals from the 2024 drill program.

Hole From (m) To (m) Li2O (%) Length (m) ZONE
JP-24-31 20.65 55.75 0.92 35.10 Jackpot West
INCLUDING 35.65 55.75 1.05 20.10 Jackpot West
INCLUDING 51.45 55.75 1.76 4.30 Jackpot West
JP-24-32 15.20 20.50 1.03 5.30 Jackpot West
AND 34.70 39.35 1.18 4.65 Jackpot West
JP-24-33 60.00 64.00 0.44 4.00 Jackpot West
JP-24-38 247.80 250.00 0.71 2.20 NW Zone

 

The 35.1m lithium intercept in JP-24-31 extends the Jackpot Main Zone approximately 200m west of the westernmost 2018 drill intercept (Figure 3). Geological mapping and sampling will focus on areas south of the main zone and north of Carrot Lake to prioritize drill targets for the fall drill campaign. The fall drill program will focus on resource definition drilling at the Casino Royale and NW Zones, north of the Jackpot Main Zone. Exploration holes will also be completed as part of this program to test newly discovered pegmatite dykes south of the Jackpot Main and north of Casino Royale.

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/05/1716899514_160_Imagine-Lithium-Intersects-3510m-of-092-Li2O-at-Jackpot-West.jpg

Figure 3: Angle overlap fence of holes testing western extension of Jackpot Main, NW Zone and Casino Royale west of the Carrot Lake MDI occurrence (MDI42E05SW00023).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/210750_0528imaginelithfig3.jpg

The Company expects to publish an NI 43-101 mineral resource estimate in 2024 which will include results from the proposed fall drill program. The distinguishing feature of the Jackpot Lithium project is the existing infrastructure in the area (roads, power, labour force) and the proximity to a major port which elevates it from more remote lithium projects. This infrastructure would positively impact the overall economics of the project.

QA/QC Protocol

Imagine Lithium implemented a strict QA/QC protocol in processing all rock samples collected from the core material obtained from the Jackpot property. The protocol included the insertion and monitoring of appropriate reference materials. High and low concentration certified lithium standards, blanks and duplicates are used to validate the accuracy and precision of the assay results.

All collected core rock samples were put in sturdy plastic bags, tagged, and sealed in the core shack under the supervision of a professional geologist. The sample number, depth and brief description of each sample is logged and entered to a digital database. Samples were split using a diamond saw with half of the sample remaining in the core box and the other being placed in a labelled sample bag. Duplicate samples were quarter split and placed into individual sample bags.

All sample bags were put into rice bags and stored securely before being delivered to AGAT Laboratories in Thunder Bay, Ontario. Samples are processed and crushed at the AGAT facility in Thunder Bay. Lithium was analyzed by Sodium Peroxide Fusion with ICP-OES and ICP-MS Finish.

Qualified Person

The technical content of this news release was reviewed and approved by Jason Arnold, P.Geo., an Independent Qualified Person as defined by the National Instrument 43-101.

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located in the Georgia Lake area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by road from the Trans-Canada Highway (Hwy 11), and is in proximity to sources of power, railroads, and ports. The property contains known lithium-bearing granitic pegmatite dykes, of which one provided a historical, non-43-101 compliant resource estimate of 2 million tons at 1.09% Li2O*.

* The estimates presented above are treated as historical information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.

ON BEHALF OF THE BOARD

"J.C. St-Amour"
J.C. St-Amour, President

FOR FURTHER INFORMATION, PLEASE CONTACT:

Telephone: +1-604-683-3995
Toll Free: 1-888-945-4770

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 release.

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedarplus.ca).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210750

info

2024-05-28 06:00:00

May 01, 2024 7:00 AM EDT | Source: Imagine Lithium Inc.

Vancouver, British Columbia--(Newsfile Corp. - May 1, 2024) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to report that it continues to expand on the newly discovered Casino Royale zone, approximately 500m north of the Jackpot Main zone. The Jackpot lithium project is located in the Georgia Lake Pegmatite Field, approximately 140km northeast of Thunder Bay, Ontario (Figure 1). The Jackpot property is characterized by swarms of mineralized lithium-bearing granitic pegmatite dikes distributed over at least five zones on an 18,800ha land package (Figure 2). The Casino Royale zone is an east-west trending, spodumene bearing pegmatite dike, which has been successfully intersected in 8 of 9 drillholes from the 2024 campaign.

Casino Royale highlights include:

J.C. St-Amour, President of Imagine, commented, "This previously untested area of the property will potentially add significant resources to the Jackpot property, based on the wide intercepts of mineralized pegmatite discovered through drilling. The Casino Royale zone has so far been traced through drilling over 200m along strike, to the east of JP-24-23 and multiple mineralized intercepts in JP-24-26 suggest it is a substantial new zone. Underexplored areas of our Jackpot property will be explored this summer to delineate existing drill targets to identify new pegmatites for future drill targets within our significant land package."

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/05/Imagine-Lithium-Intersects-1890m-of-102-Li2O-at-Casino-Royale.jpg

Figure 1: Jackpot property located next to Trans-Canada Highway, power, port, railroad, and workforce.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/207574_2df608ef24e3aa3b_001full.jpg

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/05/1714562961_954_Imagine-Lithium-Intersects-1890m-of-102-Li2O-at-Casino-Royale.jpg

Figure 2: Jackpot project target zones and diamond drillhole collar locations.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/207574_2df608ef24e3aa3b_002full.jpg

Results announced today demonstrate near-surface growth potential surrounding the Jackpot Main zone (Table 1). Results of the 2024 drill program continue to highlight the importance of drill testing and exploring for new, spodumene bearing pegmatite targets outside of the Jackpot Main zone (Figure 2). The Casino Royale zone was discovered through drill testing the historical Carrot Lake occurrence (MDI42E05SW00023) on the east side of Carrot Lake.

Drilling by the Company on the Jackpot property since 2018 totals 39,901m. From the commencement of this year, 4,020m of drill core from 30 diamond drillholes have been completed. . The table below includes results from the continued expansion of the Casino Royale zone in 2024.

Table 1. Significant Li2O (%) intervals from the 2024 drill program.

Hole From (m) To (m) Li2O (%) Length (m) ZONE
JP-24-26 117.00 126.35 0.80 9.35 Casino Royale
INCLUDING 118.20 124.25 1.16 6.05 Casino Royale
JP-24-26 159.30 178.20 1.02 18.90 Casino Royale
JP-24-27 184.70 192.00 0.72 7.30 Casino Royale
JP-24-28 154.20 168.05 0.96 13.85 Casino Royale
INCLUDING 155.25 164.35 1.42 9.10 Casino Royale
JP-24-29 96.70 99.95 0.87 3.25 Casino Royale
JP-24-30 93.60 105.45 1.15 11.85 Casino Royale
INCLUDING 94.10 101.40 1.58 7.30 Casino Royale

 

The Casino Royale zone has a drill-tested strike length of 200m and may be delineated for over 900m by surface grab samples on the west side of Carrot Lake (Figure 3). Holes JP-24-26 & JP-24-27 were drilled from the same drill pad, at -45o and -80o dip. Hole JP-24-26 had two lithium bearing pegmatite zones, intersecting 1.16% Li2O/6.05m from 118.2m and 1.02% Li2O/18.90m from 159.3m depth (Figure 3) indicating a similar stacked pegmatite swarm to the Jackpot Main zone.

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/05/1714562961_143_Imagine-Lithium-Intersects-1890m-of-102-Li2O-at-Casino-Royale.jpg

Figure 3: Casino Royale zone over 750 m from sample 781982, northeast through Carrot Lake occurrence (MDI42E05SW00023) to discovery holes JP-24-23 & JP-24-24.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/207574_imaginelithiumfig003.jpg

The Company expects to publish an NI 43-101 mineral resource estimate in 2024 which will include results from the current drill program. The distinguishing feature of the Jackpot Lithium project is the existing infrastructure in the area (roads, power, labour force) and the proximity to a major port which elevates it from more remote lithium projects. This infrastructure would positively impact the overall economics of the project.

QA/QC Protocol

Imagine Lithium implemented a strict QA/QC protocol in processing all rock samples collected from the core material obtained from the Jackpot property. The protocol included the insertion and monitoring of appropriate reference materials. High and low concentration certified lithium standards, blanks and duplicates are used to validate the accuracy and precision of the assay results.

All collected core rock samples were put in sturdy plastic bags, tagged, and sealed in the core shack under the supervision of a professional geologist. The sample number, depth and brief description of each sample is logged and entered to a digital database. Samples were split using a diamond saw with half of the sample remaining in the core box and the other being placed in a labelled sample bag. Duplicate samples were quarter split and placed into individual sample bags.

All sample bags were put into rice bags and stored securely before being delivered to AGAT Laboratories in Thunder Bay, Ontario. Samples are processed and crushed at the AGAT facility in Thunder Bay. Lithium was analyzed by Sodium Peroxide Fusion with ICP-OES and ICP-MS Finish.

Qualified Person

The technical content of this news release was reviewed and approved by Jason Arnold, P.Geo., an Independent Qualified Person as defined by the National Instrument 43-101.

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located in the Georgia Lake area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by road from the Trans-Canada Highway (Hwy 11), and is in proximity to sources of power, railroads, and ports. The property contains known lithium-bearing granitic pegmatite dykes, of which one provided a historical, non-43-101 compliant resource estimate of 2 million tons at 1.09% Li2O*.

* The estimates presented above are treated as historical information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.

ON BEHALF OF THE BOARD

"J.C. St-Amour"
J.C. St-Amour, President

FOR FURTHER INFORMATION, PLEASE CONTACT:

Telephone: +1-604-683-3995
Toll Free: 1-888-945-4770

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 release.

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedarplus.ca).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207574

info

2024-05-01 06:00:00

April 02, 2024 7:00 AM EDT | Source: Imagine Lithium Inc.

Vancouver, British Columbia--(Newsfile Corp. - April 2, 2024) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to report that it has intersected a new near surface spodumene-bearing pegmatite with diamond drilling at the Casino Royale zone, located approximately 500m north of the Jackpot Main zone. The Jackpot lithium project is in the Georgia Lake Pegmatite Field, approximately 140km northeast of Thunder Bay, Ontario (Figure 1). The Jackpot property is characterized by swarms of mineralized lithium-bearing granitic pegmatite dykes distributed across five zones on an 18,800ha land package (Figure 2).

Highlights of the 2024 drill program include:

Casino Royale zone:

Jackpot Main zone:

J.C. St-Amour, President of Imagine, commented, "This is an untested area of the property and we are pleased to have discovered a new mineralized pegmatite in this area of the vastly underexplored Jackpot property. The newly discovered, near-surface mineralization confirms our exploration model and continues to demonstrate that our significant land package can contain multiple lithium deposits. The Casino Royale zone has been traced over 750m of strike length at surface, making it a potentially substantial new zone. Going forward, we will continue to focus our exploration efforts on new discoveries and resource expansion."

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/04/Imagine-Lithium-Discovers-New-Casino-Royale-Lithium-Zone-Intersects-104.jpg

Figure 1: Jackpot property located next to Trans-Canada Highway, power, port, railroad, and workforce.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/203944_2c605d8ad4a85927_005full.jpg

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/04/1713875813_187_Imagine-Lithium-Discovers-New-Casino-Royale-Lithium-Zone-Intersects-104.jpg

Figure 2: Jackpot project target zones and diamond drillhole collar locations.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/203944_2c605d8ad4a85927_009full.jpg

Results announced today demonstrate near-surface growth potential surrounding the Jackpot Main zone (Table 1). The 2024 drill program was designed to test regional targets outside of the Jackpot Main zone that were identified during the 2023 prospecting and soil sampling programs (Figure 2). Drilling also tested boulders and outcrop located near the historical Point Lithium prospect (MDI42E05SW00021) and Carrot Lake occurrence (MDI42E05SW00023). A total of 2,691m of drill core from 24 diamond drillholes have been completed in 2024.

Drilling by the Company on the Jackpot property since 2018 totals 38,041m. The table below includes results from the Jackpot Main zone that were completed in 2023 and significant intervals from the ongoing 2024 drill program that focused on targets to the north of the Jackpot Main zone.

Table 1. Significant Li2O (%) intervals from the 2024 drill program.

Hole From (m) To (m) Li2O (%) Length (m) ZONE
JP-23-06 48.75 53.75 0.74 5.00 Jackpot East
JP-23-06 57.48 61.48 0.61 4.00 Jackpot East
JP-23-07 2.50 11.45 0.78 8.95 Jackpot East
JP-23-07 18.65 31.65 0.73 13.00 Jackpot East
JP-23-08 138.62 150.30 0.75 11.68 Jackpot East
JP-23-17 118.85 123.00 0.75 4.15 Jackpot Main
JP-23-18 50.50 63.75 0.75 13.25 Jackpot East
INCLUDING 50.50 56.80 1.34 6.30 Jackpot East
JP-23-18 83.70 86.50 1.16 2.80 Jackpot East
JP-23-24 31.10 41.20 1.02 10.10 Jackpot Main
INCLUDING 36.20 39.20 1.24 3.00 Jackpot Main
JP-23-25 41.20 44.00 1.14 2.80 Jackpot Main
JP-24-05 19.00 24.00 0.74 5.00 Point Lithium
JP-24-23 84.85 92.55 1.09 7.70 Casino Royale
INCLUDING 88.55 92.55 1.78 4.00 Casino Royale
JP-24-24 90.50 103.30 1.04 12.80 Casino Royale
INCLUDING 96.50 103.30 1.35 6.80 Casino Royale

 

The Casino Royale zone currently exceeds 750m in strike length, delineated by surface grab samples and diamond drill intercepts (Figure 3). Holes JP-24-23 & JP-24-24 were drilled from the same setup, at -50o and -75o dip, intersecting 1.09% Li2O/7.70m and 1.04% Li2O/12.80m, respectively (Figure 3). The Casino Royale zone includes the historical Carrot Lake occurrence (MDI42E05SW00023) and diamond drilling is continuing to test the surface trend of mineralization (Figure 3).

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/04/1713875813_533_Imagine-Lithium-Discovers-New-Casino-Royale-Lithium-Zone-Intersects-104.jpg

Figure 3: Casino Royale zone over 750 m from sample 781982, northeast through Carrot Lake occurrence (MDI42E05SW00023) to discovery holes JP-24-23 & JP-24-24.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/203944_2c605d8ad4a85927_022full.jpg

The Company expects to publish an NI 43-101 mineral resource estimate by the end of 2024 which will include drill results from the current program. The distinguishing feature of the Jackpot Lithium project is the existing infrastructure in the area (roads, power, labour force) and the proximity to a major port and elevates it from more remote lithium projects. This infrastructure is expected to positively impact the overall economics of the project.

QA/QC Protocol

Imagine Lithium implemented a strict QA/QC protocol in processing all rock samples collected from the core material obtained from the Jackpot property. The protocol included the insertion and monitoring of appropriate reference materials. High and low concentration certified lithium standards, blanks and duplicates are used to validate the accuracy and precision of the assay results.

All collected core rock samples were put in sturdy plastic bags, tagged, and sealed in the core shack under the supervision of a professional geologist. The sample number, depth and brief description of each sample is logged and entered to a digital database. Samples were split using a diamond saw with half of the sample remaining in the core box and the other being placed in a labelled sample bag. Duplicate samples were quarter split and placed into individual sample bags.

All sample bags were put into rice bags and stored securely before being delivered to AGAT Laboratories in Thunder Bay, Ontario. Samples are processed and crushed at the AGAT facility in Thunder Bay. Lithium was analyzed by Sodium Peroxide Fusion with ICP-OES and ICP-MS Finish.

Qualified Person

The technical content of this news release was reviewed and approved by Jason Arnold, P.Geo., an Independent Qualified Person as defined by the National Instrument 43-101.

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located in the Georgia Lake area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by road from the Trans-Canada Highway (Hwy 11), and is in proximity to sources of power, railroads, and ports. The property contains known lithium-bearing granitic pegmatite dykes, of which the Jackpot Main zone provided an estimated historical resource of 2 million tons at 1.09% Li2O *.

* The estimates presented above are treated as historical information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.

ON BEHALF OF THE BOARD

"J.C. St-Amour"
J.C. St-Amour, President

FOR FURTHER INFORMATION, PLEASE CONTACT:

Telephone: +1-604-683-3995
Toll Free: 1-888-945-4770

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 release.

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedarplus.ca).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203944

info

2024-04-02 06:00:00

January 16, 2024 7:00 AM EST | Source: Imagine Lithium Inc.

Vancouver, British Columbia--(Newsfile Corp. - January 16, 2024) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to provide significant near surface drill results from its ongoing drilling program at the Jackpot lithium project, located within the rapidly emerging lithium camp in the Georgia Lake area, approximately 140 km northeast of Thunder Bay, Ontario (Figure 1). The Jackpot property is characterized by swarms of mineralized lithium-bearing granitic pegmatite dikes distributed across an 18,800 ha land package.

Highlight holes from the ongoing drill program at the Jackpot Main Zone include:

- 15.77 m grading 1.08% Li2O from 19.2 m in hole JP-MAIN-2023-06

- Including 6.00 m grading 2.04% from 20.2 m

- 5.30 m grading 1.68% Li2O from 2.7 m in hole JPMET-2023-01B

- 7.0 m grading 1.03% Li2O from 40 m in hole JP-2023-P6

Results announced today demonstrate the near surface growth potential surrounding the Jackpot Main Zone (Table 1). Drilling is currently ongoing at the Jackpot Main Zone which consist of multiple stacked dikes covering a surface area of approximately 1 km by 400 m. The goal of the current drilling program is to define and expand the historical lithium resource. Areas being tested included the northern area of the Jackpot Main Zone where the Company is seeing another stacked dike, as well as the eastern extension of the Jackpot Main Zone which can expand the mineralization along strike (Figure 2).

J.C. St-Amour, President of Imagine, commented, "We are pleased to see continued near-surface mineralization that we believe will add significantly to historical resources at Jackpot. We look forward to publishing a NI 43-101 compliant resource estimate in the coming months. Drilling is also advancing on targets outside the Jackpot Main Zone, including the Point Lithium area, which is an exciting new zone that appears to parallel the Jackpot Main Zone pegmatite dikes."

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/01/Imagine-Lithium-Intercepts-1577-m-of-108-Li2O-at-the.jpg

Figure 1Jackpot Property located next to Trans-Canada Highway, power, port, railroad, and workforce.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/194372_721c81f4e4bbe9e5_001full.jpg

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/01/1705406550_128_Imagine-Lithium-Intercepts-1577-m-of-108-Li2O-at-the.jpg
Figure 2. New lithium intercepts from the recent DDHs collared on the Jackpot Main Zone.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/194372_721c81f4e4bbe9e5_002full.jpg

Table 1. Significant Li2O (%) intervals obtained from the 2023 drilling program in the Jackpot Main Zone.

Hole From To Li2O % Length
JP-2023-P6 31.70 48.00 0.71 16.30
INCLUDING 40.00 47.00 1.03 7.00
JP-2023-P6B 26.20 34.20 0.81 8.00
JP-MAIN-2023-03 68.05 75.20 1.03 7.15
JP-MAIN-2023-04 2.70 8.00 1.68 5.30
JP-MAIN-2023-05 5.62 10.70 1.32 5.08
JP-MAIN-2023-06 8.00 12.22 0.95 4.22
JP-MAIN-2023-06 19.23 35.00 1.08 15.77
INCLUDING 20.23 26.23 2.04 6.00
JP-MET-2023-01B 35.92 51.90 0.94 15.98

 

The Company expects to publish a NI 43-101 compliant mineral resource estimate in the first half of 2024 which will include results from drilling up to the end of 2023. Existing infrastructure in the area (roads, power, labour force) and the proximity to a major port is a distinguishing feature of the Jackpot lithium project which differentiates it from more remote lithium projects. This infrastructure should positively impact the overall project economics in the future.

The Jackpot Main Zone consists of five stacked pegmatite dike sheets of varying thickness, called Pegmatite A through E (Figure 3). The pegmatite sheets generally have an east-west strike and dip shallowly to the north (Figure 3). Drilling will continue to expand Pegmatite A and Pegmatite C up-dip and to the east, while the north zone will continue to be expanded down dip from the current intercepts. An updated geological model will assist with drill targeting and the advancement of the NI 43-101 resource estimate.

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2024/01/1705406550_21_Imagine-Lithium-Intercepts-1577-m-of-108-Li2O-at-the.jpg

Figure 3. Isometric view looking NW of the Jackpot Main Zone pegmatite dikes A through E.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/194372_figure3.jpg

QA/QC Protocol

Imagine Lithium implemented a strict QA/QC protocol in processing all rock samples collected from the core material obtained from the Jackpot property. The protocol included the insertion and monitoring of appropriate reference materials, in this case high concentration and low concentration certified OREAS lithium standards, blanks and duplicates, to validate the accuracy and precision of the assay results. All collected core rock samples were put in sturdy plastic bags, tagged, and sealed in the core shack under the supervision of professional geologists. From 1 to 2 kg of till material was collected, cleaned of coarse pebbles (>16 mm), put in Kraft paper sample envelopes, and stowed in plastic bags for transport to the core shack in Nipigon. For each sample collected; the sample number, UTM coordinates, and a brief material description were systematically noted. The samples were dried for at least 48h at the core shack. All sample bags containing rock or soil material were put in rice pouches and kept securely before being sent by road transport to the AGAT Laboratories in Thunder Bay, Ontario. Lithium was analyzed by Sodium Peroxide Fusion with ICP-OES and ICP-MS Finish.

Qualified Person

The technical content of this news release was reviewed and approved by Jason Arnold, P.Geo., an Independent Qualified Person as defined by the National Instrument 43-101.

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located in the Georgia Lake area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by road from the TransCanada Highway (Hwy 11), and is in proximity to sources of power, railroads, and ports. The property contains known lithium-bearing granitic pegmatite dikes, of which two provided estimated historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*.

* The estimates presented above are treated as historical information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.

ON BEHALF OF THE BOARD

"J.C. St-Amour"
J.C. St-Amour, President

FOR FURTHER INFORMATION, PLEASE CONTACT:

Telephone: +1-604-683-3995
Toll Free: 1-888-945-4770

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 release.

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedarplus.ca).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194372

info

2024-01-16 07:00:00

Imagine Lithium is a Canadian-based junior exploration company focused on advancing its flagship Jackpot Lithium Project (Ontario) and evaluating suitable prospects that add value to shareholders.

Projects
© Imagine Lithium Inc. 2022 All Rights Reserved.