Imagine Lithium Makes New Lithium Discovery Near Jackpot Lithium Main Zone
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Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
Imagine Lithium Makes New Lithium Discovery
Near Jackpot Lithium Main Zone
January 26, 2023 Vancouver, BC, Canada – IMAGINE LITHIUM INC. (the
“Company” or “Imagine”) (TSX-V:ILI) (OTCQB:ARXRF) is pleased to announce
that its 2022 prospecting program has identified a new drilling target located
approximately 1.6 km to the northwest of the Jackpot Main Zone. Grab samples from
this area have identified a t least one mineralized spodumene-bearing granitic
pegmatite over a strike length of approximately 500 m. Samples collected from the
pegmatite have returned Li2O values up to 2.72% Li 2O. A video discussing the new
target area can be found here.
A total of 15 grab samples were taken from the area, where a spodumene bearing
pegmatite was traced over 500 m. The samples returned values containing lithium
grades ranging from 0.01% to 2.72% Li 2O (see Figure 1). Samples from a 240 m
section of the granitic dike along strike generated an average of 1.17 Li2O% (n=11).
It is believed that the pegmatite could be as much as 40 m wide. The Company plans
to complete follow-up prospecting and sampling work in the general vicinity of this
pegmatite as well as an exploration drilling campaign targeting the pegmatite
specifically.
J.C. St -Amour, President of Imagine commented, “This newly discovered area
demonstrates the prospectivity of our very large land package. The team is very
excited to test this newly identified zone. There is some ground cover in this area, so
there is excellent potential for expansion of this dike along strike as well as potential
for additional dikes in this area. The grab sample grades suggest it is a well
mineralized dike that we intend to drill test in 2023.
The 2022 drilling campaign at Jackpot ended in early December, having drilled over
10,000 m. We expect that final results will be received in the coming weeks and will
be released once available.
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Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
Figure 1: Map identifying location of mineralized grab samples over approximately 500 m of
strike length.
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).
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.
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
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 expl oration 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 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 t he 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 class ify 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 T SX 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
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Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
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 t o 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).