Imagine Lithium Intersects 18.90m of 1.02% Li2O at Casino Royale Zone
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
Imagine Lithium Intersects 18.90m of 1.02% Li2O
at Casino Royale Zone
Vancouver, BC, Canada, May 1, 2024 – IMAGINE LITHIUM INC. (the
“Company” or “Imagine”) (TSX-V: ILI) (OTCQB: ARXRF) is pleased to report
that it continues to expand on the newly discovered Casino Royale zone,
approximately 500m north of the Jackpot Main zone. The Jackpot lithium project is
located 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 dikes distributed over at least five
zones on an 18,800ha land package (Figure 2). The Casino Royale zone is an east-
west trending, spodumene bearing pegmatite dike, which has been successfully
intersected in 8 of 9 drillholes from the 2024 campaign.
Casino Royale highlights include:
- 1.02% Li2O over 18.90m from 159.30m in hole JP-24-26
- 0.96% Li2O over 13.25m from 154.20m in hole JP-24-28
- Including 1.42% Li2O over 9.10m from 155.25m
- 1.15% Li2O over 11.85m from 93.60m in hole JP-24-30
- Including 1.58% Li2O over 7.30m from 94.10m
J.C. St-Amour, President of Imagine, commented, ”This previously untested
area of the property will potentially add significant resources to the Jackpot
property, based on the wide intercepts of mineralized pegmatite discovered through
drilling. The Casino Royale zone has so far been traced through drilling over 200m
along strike, to the east of JP-24-23 and multiple mineralized intercepts in JP-24-26
suggest it is a substantial new zone. Underexplored areas of our Jackpot property
will be explored this summer to delineate existing drill targets to identify new
pegmatites for future drill targets within our significant land package.”
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.
NAMA CREEK
DEPOSIT
JACKPOT
PROJECT
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
Figure 2: Jackpot project target zones and diamond drillhole collar locations.
Results announced today demonstrate near-surface growth potential surrounding
the Jackpot Main zone (Table 1). Results of the 2024 drill program continue to
highlight the importance of drill testing and exploring for new, spodumene bearing
pegmatite targets outside of the Jackpot Main zone (Figure 2). The Casino Royale
zone was discovered through drill testing the historical Carrot Lake occurrence
(MDI42E05SW00023) on the east side of Carrot Lake.
Drilling by the Company on the Jackpot property since 2018 totals 39,901m. From
the commencement of this year, 4,020m of drill core from 30 diamond drillholes
have been completed. . The table below includes results from the continued
expansion of the Casino Royale zone in 2024.
Table 1. Significant Li2O (%) intervals from the 2024 drill program.
Hole From (m) To (m) Li2O (%) Length (m) ZONE
JP-24-26 117.00 126.35 0.80 9.35 Casino Royale
INCLUDING 118.20 124.25 1.16 6.05 Casino Royale
MDI42E05SW00023
MDI42E05SW00021
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
Hole From (m) To (m) Li2O (%) Length (m) ZONE
JP-24-26 159.30 178.20 1.02 18.90 Casino Royale
JP-24-27 184.70 192.00 0.72 7.30 Casino Royale
JP-24-28 154.20 168.05 0.96 13.85 Casino Royale
INCLUDING 155.25 164.35 1.42 9.10 Casino Royale
JP-24-29 96.70 99.95 0.87 3.25 Casino Royale
JP-24-30 93.60 105.45 1.15 11.85 Casino Royale
INCLUDING 94.10 101.40 1.58 7.30 Casino Royale
The Casino Royale zone has a drill-tested strike length of 200m and may be
delineated for over 900m by surface grab samples on the west side of Carrot Lake
(Figure 3). Holes JP-24-26 & JP-24-27 were drilled from the same drill pad, at -45o
and -80o dip. Hole JP-24-26 had two lithium bearing pegmatite zones, intersecting
1.16% Li2O/6.05m from 118.2m and 1.02% Li2O/18.90m from 159.3m depth
(Figure 3) indicating a similar stacked pegmatite swarm to the Jackpot Main zone.
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
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.
The Company expects to publish an NI 43-101 mineral resource estimate in 2024
which will include results from the current drill 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 which elevates it from more
remote lithium projects. This infrastructure would 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
Scale (m)
2022 Prospecting
781982 - 2.9% Li2O
MDI42E05SW00023
JP-24-26
1.16% Li2O /6.05m
& 1.02% Li2O /18.90m
Carrot Lake
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
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 w as 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 one provided a historical, non-
43-101 compliant resource estimate 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.
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
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).