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Imagine Lithium Inc.

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/2024/04/1712058512_804_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/2024/04/1712058512_970_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

Vancouver, British Columbia--(Newsfile Corp. - January 26, 2023) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to announce that its 2022 prospecting program has identified a new drilling target located approximately 1.6 km to the northwest of the Jackpot Main Zone. Grab samples from this area have identified at least one mineralized spodumene-bearing granitic pegmatite over a strike length of approximately 500 m. Samples collected from the pegmatite have returned Li2O values up to 2.72% Li2O. A video discussing the new target area can be found here.

A total of 15 grab samples were taken from the area, where a spodumene bearing pegmatite was traced over 500 m. The samples returned values containing lithium grades ranging from 0.01% to 2.72% Li2O (see Figure 1). Samples from a 240 m section of the granitic dike along strike generated an average of 1.17 Li2O% (n=11). It is believed that the pegmatite could be as much as 40 m wide. The Company plans to complete follow-up prospecting and sampling work in the general vicinity of this pegmatite as well as an exploration drilling campaign targeting the pegmatite specifically.

J.C. St-Amour, President of Imagine commented, "This newly discovered area demonstrates the prospectivity of our very large land package. The team is very excited to test this newly identified zone. There is some ground cover in this area, so there is excellent potential for expansion of this dike along strike as well as potential for additional dikes in this area. The grab sample grades suggest it is a well mineralized dike that we intend to drill test in 2023."

The 2022 drilling campaign at Jackpot ended in early December, having drilled over 10,000 m. We expect that final results will be received in the coming weeks and will be released once available.

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2023/01/Imagine-Lithium-Makes-New-Lithium-Discovery-Near-Jackpot-Lithium-Main.jpg

Figure 1: Map identifying location of mineralized grab samples over approximately 500 m of strike length.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2962/152571_3b9da1800412ab51_002full.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 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 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.SEDAR.COM).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152571

info

2023-01-26 07:00:00

Vancouver, British Columbia--(Newsfile Corp. - February 1, 2022) - INFINITE ORE CORP. (TSXV: ILI) (OTCQB: ARXRF) ("ILI" or the "Company") announces it will commence operations under the name Imagine Lithium Inc. ("Imagine Lithium"), effective today. The Company's common shares will trade on the TSX Venture Exchange under its existing ticker symbol "ILI".

The brand, Imagine Lithium, reflects the Company's focus on lithium exploration in the safe, environmentally conscious mining jurisdiction of Ontario, Canada. Imagine the economic stimulus and social benefits that lithium exploration and a future lithium mine can bring to the Nipigon region of Ontario. Imagine the environmental benefits that lithium brings to the global community as the world adopts clean electric vehicles powered by lithium-ion batteries. Imagine a global electrification strategy that uses lithium batteries to bring clean, reliable electricity to communities far and wide, fundamentally enhancing quality of life. The future is here. Imagine the possibilities. Imagine Lithium.

The new corporate website can be found at www.imaginelithium.com. Please visit the site to learn more about the Jackpot lithium property, where a 3,000 m drill program will be testing numerous known and newly identified dikes on the property. The program is expected to commence in February 2022.

In addition, the Company is pleased to announce the addition of Arvin Ramos as Chief Financial Officer as Mr. John Masters transitions into retirement. Mr. Ramos holds a degree in commerce and is a member of the Chartered Professional Accountants of Ontario. Mr. Ramos has over 17 years of business experience, having supported a broad range of industries, including mining, technology, and banking.

J.C. St. Amour, President and CEO of Imagine Lithium commented, "I am excited to be launching our new brand today. It's an electrifying time in the company as we refocus on our flagship asset, the Jackpot Lithium property. My team and I have been planning our winter exploration season and we are eager to get started and begin to unlock the lithium potential at Jackpot. I also am excited to be working with Arvin, a seasoned accounting professional, as John winds down his career in preparation for retirement. It has been a pleasure to work with John and I am happy to report that he will continue to assist the company on corporate matters as a consultant."

In connection with Mr. Ramos joining the Company, Imagine Lithium also wishes to announce that it has granted him 300,000 options to pursuant to its stock option plan. The options are exercisable for a period of 2 years from the date of grant at a price of $0.155 per option.

ABOUT IMAGINE LITHIUM INC.

Imagine Lithium Inc. 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, Ontario, 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. In addition, the company holds an interest in a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ont.

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/112260

info

2022-02-01 08:00:00

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.

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