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Imagine Lithium Inc.

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.

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2022/11/Imagine-Lithium-Reports-up-to-288-Li2O-from-Channel-Samples.jpg

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
(Li
2O 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

info

2022-11-29 07:00:00

Vancouver, British Columbia--(Newsfile Corp. - September 7, 2022) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to announce assay results from its ongoing prospecting program on the Jackpot lithium property located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario. Based on the summer prospecting program, Imagine Lithium has identified a 3 km trend of sub-parallel spodumene-bearing pegmatite dikes that extends to the east and west of the Jackpot main drilling area. See Figure 1 which outlines the approximately 18,800-hectare Jackpot Lithium property and trend. Today's assay results from 57 granitic pegmatite samples collected from the south-west of Jackpot are displayed in Figure 2 and Table 1 and contain multiple high grade Li2O grab samples. Grab samples were also taken from dikes in the north-eastern portion of this 3 km trend and assay results are pending. Figure 3 indicates the location of spodumene-bearing pegmatites that have been identified elsewhere on the property.

J.C. St-Amour, President of Imagine commented, "Our summer prospecting program has been a complete success with multiple new lithium-bearing dikes being identified on just a small portion of this vast property. Our geologist did not venture far from our main Jackpot zone to identify and sample new lithium-bearing dikes. Given our prospecting success in the immediate vicinity of our drilling area I am very encouraged about the potential for this property to host many additional dikes. In the meantime, this 3 km trend will be the focus of our next fall/winter drill program."

St-Amour continued, "One of the best features of this project is its location and proximity to infrastructure, being a short drive from the major port of Thunder Bay. Below is a link to a short video of the property which shows several outcrop dikes as well as the project's proximity to infrastructure, which is key to the economics of any mining operation in the future."

Link to Jackpot Video
https://youtu.be/1MayChmGy5g

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2022/09/Imagine-Lithium-Reports-High-Grade-Li20-in-Grab-Samples-Taken.jpg

Figure 1: Jackpot Lithium project and 3 km Lithium Pegmatite trend.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2962/136221_6cc346e3d40a9a07_002full.jpg

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2022/09/1664258127_200_Imagine-Lithium-Reports-High-Grade-Li20-in-Grab-Samples-Taken.jpg

Figure 2: Map Identifying Grab Sample Assay Results to the SW of the Jackpot Main Zone.

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/2962/136221_6cc346e3d40a9a07_003full.jpg

Cannot view this image? Visit: https://imaginelithium.com/wp-content/uploads/2022/09/1664258128_78_Imagine-Lithium-Reports-High-Grade-Li20-in-Grab-Samples-Taken.jpg

Figure 3: Map Identifying Pegmatite Locations.

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/2962/136221_6cc346e3d40a9a07_004full.jpg

Table 1: Significant Grab Sample Assay results

Sample_no* Easting Northing# Li (wt. %) Li2O (wt. %)
781984 431272 5462688 0.18 0.39
781907 431430 5461280 0.31 0.66
781924 430994 5460634 0.37 0.79
781923 431003 5460637 0.51 1.10
781985 431282 5462751 0.60 1.29
781937 431564 5461315 0.74 1.59
781934 431531 5461305 0.75 1.62
781991 431514 5461026 0.79 1.70
781990 431488 5461009 0.82 1.75
781915 431259 5460856 0.97 2.09
781912 431273 5460808 1.00 2.15
781992 431355 5461192 1.14 2.45
781997 431333 5461197 1.17 2.53
781996 431340 5461206 1.23 2.65
781935 431541 5461304 1.25 2.68
781918 431099 5460665 1.34 2.89
781982 431635 5461912 1.37 2.95
781995 431341 5461183 1.40 3.02
781919 431062 5460654 1.43 3.08
781927 430931 5460624 1.50 3.23
781921 431029 5460641 1.52 3.28
781922 431017 5460649 1.52 3.27
781930 431512 5461301 1.56 3.36
781911 431243 5460811 1.70 3.66
781933 431532 5461302 1.73 3.72
781914 431250 5460859 1.76 3.79
781994 431349 5461187 1.81 3.90
781931 431519 5461301 1.86 4.00
781929 431502 5461286 1.90 4.09
781917 431362 5460962 1.95 4.20
781913 431226 5460841 1.97 4.25
781999 431334 5461226 2.00 4.31
781928 431494 5461291 2.04 4.39
781910 431238 5460802 2.09 4.50
781936 431550 5461303 2.09 4.50
781993 431357 5461192 2.12 4.56
781932 431525 5461305 2.15 4.62
781998 431326 5461207 2.45 5.28
781920 431044 5460642 2.51 5.39
781909 431214 5460794 2.66 5.73
781908 431208 5460791 2.72 5.86
781938 431507 5461139 2.86 6.15
#NAD83; Zone 15N

 

* Samples from granitic pegmatite dikes display variable texture and mineral size that can alter the true Li content of the lithology. The analyzed Li concentrations may not necessarily represent the value of the pegmatite dike.

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*.

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 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.

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/136221

info

2022-09-07 06:00:00

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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