Imagine Lithium Drills Best Intercept to Date at Jackpot 25.46 m Grading 1.21% Li2O, including 10.0 m Grading 1.88% Li2O
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
Imagine Lithium Drills Best Intercept to Date at
Jackpot 25.46 m Grading 1.21% Li2O, including
10.0 m Grading 1.88% Li2O
Vancouver, BC, Canada , February 15, 2023 – IMAGINE LITHIUM INC. (the
“Company” or “Imagine”) (TSX-V: ILI) (OTCQB: ARXRF) 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:
• Hole JP-2022-39B: 25.46 m @ 1.21% Li2O, including 10 m @ 1.88% Li2O;
• Hole JP-2022-41: 5.00 m @ 1.78% Li2O;
• Hole JP-2022-53: 8.00 m @ 1.10% Li2O and
• Hole JP-2022-39: 7.00 m @ 1.11% Li2O.
J.C. St -Amour, President and CEO of Imagine, commented, “The results
announced today include the best intercept s 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.”
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
Figure 1: Jackpot Property located next to Trans Canada Highway, power, port, railroad and
workforce.
Figure 2: Assay Results from 2022 drill program. Drill holes highlighted in light green are
related to the today’s assay results.
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
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, s ome 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.
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
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 di kes 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 conc entration 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.
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
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
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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 belief s 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).