Vancouver, British Columbia--(Newsfile Corp. - February 15, 2023) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to announce significant assay results from its 2022 drill program at the Jackpot lithium project located within the rapidly emerging lithium camp in the Georgia Lake Area, approximately 140 km north-east of Thunder Bay, Ontario (see Figure 1).
The 2022 drill program has almost doubled the mineralized lithium zone by 400 metres along strike to the east of the previously drilled main Jackpot Zone. The gently dipping zone now extends a total of 900 metres along strike and 300 metres down dip, to a depth of 200 metres. The zone consists of multiple stacked spodumene rich pegmatite dikes. The results reported today are located to the east and north-east of the Main Jackpot Zone (see Figure 2).
Highlights of the assay results reported today include:
J.C. St-Amour, President and CEO of Imagine, commented, "The results announced today include the best intercepts drilled to date on the Jackpot property both in terms of thickness and grade. The Jackpot property is not only ideally located within a rapidly emerging lithium camp, but is very close to infrastructure, including roads, power generation and transmission facilities. Our drill program continues to expand the main Jackpot zone to the northeast, almost doubling the known strike length of the pegmatite swarm. The 2022 drill program was aimed at increasing the size of the historical resource both along strike and at depth, and today's results are a clear indication that the campaign will have achieved its objective. The results of the 2022 campaign will be combined with the extensive historical data and included in a first resource estimate in 2023. Furthermore, the deposit remains open along strike, which could provide for even more expansion as we proceed with further drilling in the near future."
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/2962/154819_88553476a47b0bbc_001full.jpg
Figure 2: Assay Results from 2022 drill program. Drill holes highlighted in light green are related to the today's assay results.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/154819_88553476a47b0bbc_002full.jpg
Table 1: Significant assay results from 2022 drill program.
| DDH no. | Li2O (%) | From (m) | To (m) | Interval* (m) |
| JP-22-11B | 0.44 | 201.42 | 220.33 | 18.91 |
| JP-22-39 | 1.11 | 80.20 | 87.20 | 7.00 |
| JP-22-39B | 1.21 | 147.00 | 172.46 | 25.46 |
| Incl. | 1.88 | 154.00 | 164.00 | 10.00 |
| JP-22-41 | 1.78 | 48.66 | 53.66 | 5.00 |
| JP-22-53 | 1.10 | 62.00 | 70.00 | 8.00 |
*Apparent thickness
In addition, some of the regional exploration holes drilled to the north-east have intercepted elevated tantalum values in random samples (see Figure 3). Further investigation of this area is warranted to evaluate a link to a tantalum rich area discovered in the 2018 drill program.
Figure 3: Drill hole map indicating areas of higher tantalum concentrations.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/154819_88553476a47b0bbc_003full.jpg
Imagine is very interested in exploration targets elsewhere on the property, including areas to the north-east and north-west of Jackpot. Grab samples were taken from the north-west of the property along a 500 metres strike length. The samples returned values containing lithium grades of up to 2.72% Li2O. (See press release dated January 26, 2023.)
On the southwest area of the property where channel samples returned 10.3 metres grading 1.23% Li2O and 10.0 metres grading 1.02% Li2O more exploration drilling is required to define the proper geometry of the pegmatite dikes which are well mineralized at surface. The mineralized zone is yet to be determined with current drilling therefore Imagine will be revisiting the area this year.
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 rock samples were put in sturdy plastic bags, tagged, and sealed in the core shack under the supervision of professional geologists. Sample bags were then put in rice pouches and kept securely before being sent by road transport to the Actlabs laboratories in Thunder Bay, Ontario. Lithium was analyzed by Peroxide Fusion ICP-OES method (8-Li package), whereas tantalum was determined by 4-acid "near total" digestion using the ultratrace ICP-MS method.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
Corporate Matters
Further to the news release of January 26, 2023, Imagine Lithium wishes to report that OGIB Corporate Bulletin, an arms length firm, has been engaged to provide market awareness services over a term of 6 months and was paid $200,000 up front.
About Jackpot
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. 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*.
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 near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O.
* The estimates presented above are treated as historic 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.SEDAR.COM).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154819
2023-02-15 06:30:00
Vancouver, British Columbia--(Newsfile Corp. - February 9, 2023) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to announce positive preliminary results from metallurgical testing at it's Jackpot Lithium Project, for which the highlights are presented below:
Additional metallurgical tests will be conducted to confirm these results.
JC St-Amour, President of Imagine Lithium said, "We are very pleased with the initial metallurgical tests on the Jackpot spodumene-bearing granitic pegmatite dykes indicating a high recovery and elevated lithium concentrates can be produced from simple metallurgical processes. A 6% lithium concentrate is the industry standard and concentrate prices are quoted at a 6% Li2O grade. Low iron is also desirable as it increases the addressable market for our product (battery, glass and ceramics markets). Given that metallurgical analysis and results are an important input in the customer engagement process, we believe this is an important step in our consideration of multiple commercial opportunities for our lithium products in tandem with continued exploration program."
The Jackpot Lithium project is located approximately 40 km North of the town of Nipigon, Ontario and is near infrastructure including the Trans-Canada Highway, power, rail service, and ports (See Figure 1).
Figure 1: Jackpot Lithium Project Location Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/154235_d5a145f3c42e4b23_002full.jpg
With respect to it's 2022 drilling campaign, the Company expects to be able to announce its remaining assay results in the coming week.
Corporate Matter
In addition, the Company has engaged OGIB Corporate Bulletin to provide investor awareness services for $200,000 plus applicable taxes. OGIB Corporate Bulletin is based in Vancouver, BC and operates under the direction of Mr. Keith Shaefer.
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 rock samples were put in sturdy plastic bags, tagged, and sealed in the core shack under the supervision of professional geologists. Sample bags were then put in rice pouches and kept securely before being sent by road transport to the Actlabs laboratories in Thunder Bay, Ontario. Lithium was analyzed by Peroxide Fusion ICP-OES method (8-Li package).
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
About Jackpot
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and approximately 40 km North of the town of Nipigon, Ontario, on Lake Superior. 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*.
About Imagine Lithium Inc.
Imagine Lithium is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O.
* The estimates presented above are treated as historic 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.sedar.com).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154235
2023-02-09 07:00:00
Vancouver, British Columbia--(Newsfile Corp. - November 29, 2022) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to announce assay results from channel samples collected as part of its prospecting program on the Jackpot lithium property located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario. The channel samples were collected in an area approximately 1 km southwest of the Jackpot Main Zone where analyzed grab samples provided significant Li2O concentrations (see September 7, 2022 Press release).
Highlights of the channel results reported today include:
10.3 m @ 1.23% Li2O, including 4.0 m @ 2.88% Li2O; and
10.00 m @ 1.02% Li2O, including 6.00 m @ 1.56% Li2O.
J.C. St-Amour, President of Imagine commented, "I am very pleased with the channel samples as they were taken from the southwest region of the property that delivered previously reported mineralized lithium grab samples, meaning this section of the property seems well mineralized at surface. Not only does this area justify further exploration work, but our prospecting program has identified several spodumene bearing pegmatite dikes within 2 km of the Jackpot Main Zone that provide additional targets for future exploration and drill programs. We are confident that in addition to expanding the Jackpot deposit through our current drill program, we will have potential to find additional deposits on the broader Jackpot property."
All five channels taken from Site 1, where a spodumene-bearing pegmatite was traced over 80 m, returned intervals containing lithium grades ranging from 0.64% to 2.88% Li2O (see Figure 1 and Table 1). Five additional sites submitted to channel sampling also returned intervals containing 0.75% to 2.15% Li2O. The area to the west and southwest of Jackpot includes several spodumene bearing pegmatite outcrops including some that have been traced for between 80 m and 200 m (Figure 1). The Company plans to complete follow-up prospecting and sampling work in this including additional drilling.
Figure 1: Air photo map showing the location of the channel sampling sites in the southwestern area of the of the Jackpot property. The significant Li2O % intervals are reported on the map.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2962/146024_2293dec0344fcbbc_002full.jpg
Table 1: Table of Channel Sample Results
| Site | Channel No. |
Easting* | Northing | Elevation | Azimut (°) |
Weighted Mean (Li2O wt. %) |
Interval (m) |
| 1 | 1 | 431238 | 5460809 | 456 | 340.0 | 1.02 | 10.0 |
| Incl. | 1.56 | 6.0 | |||||
| 1 | 2 | 431234 | 5460803 | 450 | 344.0 | 0.64 | 2.7 |
| 1 | 3 | 431219 | 5460794 | 451 | 312.0 | 1.23 | 10.3 |
| Incl. | 2.88 | 4.0 | |||||
| 1 | 4 | 431210 | 5460791 | 447 | 1.63 | 3.0 | |
| 1 | 5 | 431199 | 5460786 | 447 | 320.0 | 0.90 | 7.0 |
| 2 | 1 | 431250 | 5460857 | 448 | 342.0 | 0.75 | 9.0 |
| 3 | 1 | 431306 | 5460911 | 453 | 136.0 | --- | --- |
| 4 | 1 | 431358 | 5460962 | 451 | 138.0 | 1.84 | 2.0 |
| 5 | 1 | 431161 | 5460724 | 454 | 142.0 | 1.40 | 1.3 |
| 6 | 1 | 430969 | 5460678 | 461 | 172.0 | 2.15 | 0.9 |
*NAD83; Zone 15N
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 rock samples were put in sturdy plastic bags, tagged, and sealed in the core shack under the supervision of professional geologists. Sample bags were then put in rice pouches and kept securely before being sent by road transport to the Actlabs laboratories in Thunder Bay, Ontario. Lithium was analyzed by Peroxide Fusion ICP-OES method (8-Li package).
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
About Jackpot
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. 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*.
About Imagine Lithium Inc.
Imagine Lithium is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O.
* The estimates presented above are treated as historic 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.SEDAR.COM).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146024
2022-11-29 07:00:00
Vancouver, British Columbia--(Newsfile Corp. - October 19, 2022) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to announce assay results from its ongoing drill program at the Jackpot lithium project. The drill program is designed to test targets along strike both to the east and west of the Jackpot lithium project located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario (see Figure 1). All of today's reported results are located within the eastern extension of the Jackpot property and are outside the known historically drilled Jackpot Main Zone. The current drill program has expanded the mineralized lithium zone at least 400 metres to the east of the previously drilled area (see Figure 2).
Highlights of the assay results reported today include:
Hole JP-2022-21C: 21.0 m @ 1.16% Li2O, including 8.0 m @ 1.40% Li2O;
Hole JP-2022-21B: 3.00 m @ 0.92 Li2O % and 11.00 m @ 0.87 Li2O %
Hole JP-2022-16: 5.02 m @ 1.12% Li2O and 3.12 m @1.35 Li2O %
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/2962/141034_578334d55497f980_002full.jpg
Figure 2: Assay Results from 2022 drill program. Drill holes highlighted in light green are related to the today's assay results.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/141034_578334d55497f980_003full.jpg
J.C. St-Amour, President of Imagine, commented, "Today we announced one of the best intercepts to date on the Jackpot property both in terms of width and grade. I am very pleased that these results are to the east of our primary historical area of drilling on the property and they demonstrate the property's expansion potential. Also, it is important to note that all our results so far this year have been very shallow, from surface to ~100 metres, meaning the dikes are at or near surface. The drill program is ongoing and aimed at increasing the size of the historical resource both along strike but also to the north by testing additional parallel pegmatite targets."
The current drill program is designed to test possible extensions of the Jackpot deposit along a known lithium bearing trend. To date 6,755 metres have been drilled with results returned from approximately 3,463 metres. The Company will release drilling and sampling results as they become available.
Table 1: Assay Results from 2022 drill program.
| DDH_no. | Li2O (wt. %) | From (m) | To (m) | Length (m) |
| JP-2022-15 | 1.60 | 38.00 | 38.69 | 0.69 |
| 0.58 | 45.40 | 47.40 | 2.00 | |
| JP-2022-16 | 0.52 | 17.45 | 22.48 | 5.03 |
| 0.87 | 24.48 | 33.04 | 8.56 | |
| Incl. | 1.12 | 24.48 | 29.50 | 5.02 |
| 0.64 | 33.10 | 36.20 | 3.10 | |
| 0.85 | 40.88 | 46.85 | 5.97 | |
| Incl. | 1.35 | 40.88 | 44.00 | 3.12 |
| JP-22-21B | 0.92 | 74.95 | 78.00 | 3.00 |
| 0.87 | 82.00 | 93.00 | 11.00 | |
| JP-2022-21C | 1.16 | 32.66 | 53.66 | 21.00 |
| Incl. | 1.40 | 32.66 | 40.66 | 8.00 |
*Apparent thickness
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 rock samples were put in sturdy plastic bags, tagged, and sealed in the core shack under the supervision of professional geologists. Sample bags were then put in rice pouches and kept securely before being sent by road transport to the Actlabs laboratories in Thunder Bay, Ontario. Lithium was analyzed by Peroxide Fusion ICP-OES method (8-Li package).
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
About Jackpot
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. 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*.
About Imagine Lithium Inc.
Imagine Lithium is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O.
* The estimates presented above are treated as historic 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.SEDAR.COM).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/141034
2022-10-19 06:00:00
Vancouver, British Columbia--(Newsfile Corp. - May 11, 2022) - Imagine Lithium Inc. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to announce assay results from previously unsampled core that were drilled in 2018. The drillholes tested lithium-bearing granitic pegmatite dikes within the main dike swarm of the Jackpot project. Results include 8 m grading 1.28% lithium oxide (Li2O) (Hole J-18-M-04) and 8.8 m grading 1.02% Li2O (Hole J-18-M-03). See Table 1 below for detailed results.
J.C. St-Amour, President of Imagine Lithium commented, "Once we refocused on the Jackpot Lithium project our new geological team reviewed all the historical drill core from the 2018 drill program and immediately identified significant spodumene mineralization in unsampled core. I am pleased that the assay results confirm the visuals that we have been seeing at the Jackpot project. "We are looking forward to seeing results from our current drill program, which is designed to not only test the main dike swarm but also to expand on the known historical resource area and investigate the extents of the known dikes as well as previously undrilled lithium showings. The drill program is progressing well, with five holes completed with samples in the lab."
Table 1: Assay Results from Previously Unsampled Drill Holes (2018), Jackpot Property.
| DDH_ID | Li2O (wt.%) | Interval (m) | From (m) | To (m) |
| J_18_M_04 | 1.28 | 8.00 | 36.00 | 44.00 |
| J-18_M_03 | 1.02 | 8.80 | 66.20 | 75.00 |
| J_18_M_02 | 0.81 | 2.70 | 77.30 | 80.00 |
| and | 0.43 | 4.20 | 82.00 | 86.20 |
| J_18_M_01 | 0.69 | 4.00 | 80.00 | 84.00 |
Figure 1: Collar Locations for the 2018 and 2022 Drill Programs.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2962/123571_34f601bc84b84b77_002full.jpg
Further to our news release dated March 21, 2022, the Company announces that the issuance of 8,000 common shares for the purchase of additional ground within the Jackpot property are payable 50% to Gravel Ridge Resources Ltd. (controlled by Michael Frymire and Pamela Katie Misener) and 50% to 154423 Ontario Inc. (controlled by Julia English and Perry English). In addition, the agreement with the First Nations Groups was signed on March 18, 2022.
About Jackpot
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. 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 Company recently acquired additional claims with identified lithium showings located on strike to the main historical resources.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic 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.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: +1-604-683-3995
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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.sedar.com).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123571
2022-05-11 06:00:00
