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
Figure 1: Jackpot Lithium project and 3 km Lithium Pegmatite trend.
To view an enhanced version of Figure 1, please visit:
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:
Figure 3: Map Identifying Pegmatite Locations.
To view an enhanced version of Figure 3, please visit:
Table 1: Significant Grab Sample Assay results
|Sample_no*||Easting||Northing#||Li (wt. %)||Li2O (wt. %)|
|#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.
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 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, President
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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).
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