Imagine Lithium Launches Comprehensive Property Wide Exploration Program on Jackpot Lithium Project
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
Imagine Lithium Launches Comprehensive Property
Wide Exploration Program on Jackpot Lithium
Project
Vancouver, BC, Canada, May 04, 2023 – IMAGINE LITHIUM INC. (the “Company”
or “Imagine”) (TSX-V: ILI) (OTCQB: ARXRF) is pleased to launch a property wide
exploration program on the ~18,800 ha Jackpot Lithium property, following the recent
closing of a $9.1 Million private placement financing ( press release April 28, 2023 ).
The extensive exploration program will consist of a minimum of 10,000 metres of
diamond drilling on the Jackpot property. The diamond drill campaign will focus on
expansion of the Jackpot Main Zone as well as several new lithium bearing pegmatite
targets to the west, northwest , and northeast, covering a trend of more than 3 km
(Figure 1). In addition, the Company has engaged a team of geologists to conduct a
large prospecting and geological survey, accompanied by rock and soil sampling. For
the first time, Imagine’s exploration program will cover the entirety of the vast
Jackpot land package. It is designed to identify new lithium exploration targets and
investigate numerous known pegmatite occurrences throughout the property (see
Figure 2). Finally, Imagine intends to carry out a high-resolution property -wide
geophysical survey to identify potential pegmatites that may be hidden under
groundcover.
J.C. St-Amour, President and CEO of Imagine, commented, “We are well
capitalized to accelerate and greatly expand our exploration and development
activities at the Jackpot project. Our goal is to increase the historical resources, test
additional known pegmatit es for potential satellite deposits , and to complete a
comprehensive prospecting and sampling program of the entirety of the large Jackpot
land package to identify additional drill targets . Lithium bearing pegmatites are
generally found in swarms and we ha ve already identified several that need to be
tested through drilling. I am confident there are further discoveries to be made at
Jackpot and we are well positioned to make them in the coming exploration season.”
The Jackpot Main Zone remains open along strike , therefore expansion drilling will
focus on testing extensions to the east and north . Exploration drilling will focus on
targets identified outside of the main zone, including an area where a lithium baring
pegmatite was traced over 500 m. These targets have the potential to add additional
lithium deposits to the Jackpot project (Figure 1).
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
Figure 1: Map of drill target areas to be investigated in 2023 near the Main Jackpot Zone.
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
Figure 2: Map of the Jackpot land package identifying areas of systematic sampling and
potential future drilling areas.
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 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 TransCanada Highway (Hwy 11), and is in proximity to
sources of power, railroads, and ports. 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*.
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
* The estimates presented above are treated as historic al 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 curre nt 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).