Imagine Lithium Reports up to 2.88% Li2O From Channel Samples 1 km Southwest of Jackpot Main Zone
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Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
Imagine Lithium Reports up to 2.88% Li2O From
Channel Samples 1 km Southwest of Jackpot Main
Zone
November 29, 2022 Vancouver, BC, Canada – IMAGINE LITHIUM INC. (the
“Company” or “Imagine”) (ILI-TSX:V) (OTCQB:ARXRF) is pleased to announce assay
results from channel samples collected as part of its prospecting program on the
Jackpot lithium property located in the Georgia Lake Area about 140 km NNE of
Thunder Bay, Ontario. The channel samples were collected in an area approximately
1 km southwest of the Jackpot Main Zone where analyzed grab samples provided
significant Li2O concentrations (see September 7, 2022 Press release).
Highlights of the channel results reported today include:
10.3 m @ 1.23% Li2O, including 4.0 m @ 2.88% Li2O; and
10.00 m @ 1.02% Li2O, including 6.00 m @ 1.56% Li2O.
J.C. St-Amour, President of Imagine commented, “I am very pleased with the channel
samples as they were taken from the southwest region of the property that delivered
previously reported mineralized lithium grab samples, meaning this section of the
property seems well mineralized at surface. Not only do es this area justify further
exploration work , but our prospecting program has identified several spodumene
bearing pegmatite dikes within 2 km of the Jackpot Main Zone that provide additional
targets for future exploration and drill programs. We are confident that in addition to
expanding the Jackpot deposit through our current drill program, we will have
potential to find additional deposits on the broader Jackpot property.”
All five channels taken from Site 1, where a spodumene-bearing pegmatite was traced
over 80 m, returned intervals containing lithium grades ranging from 0.64% to 2.88%
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Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
Li2O (see Figure 1 and Table 1). Five additional sites submitted to channel sampling
also returned intervals containing 0.75% to 2.15% Li 2O. The area to the west and
southwest of Jackpot include s several spodumene bearing pegmatite outcrops
including some that have been traced for between 80 m and 200 m (Figure 1). The
Company plans to complete follow-up prospecting and sampling work in this including
additional drilling.
Figure 1: Air photo map showing the location of the channel sampling sites in the
southwestern area of the of the Jackpot property. The significant Li 2O % intervals are
reported on the map.
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Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
Table 1: Table of Channel Sample Results
Site Channel
No. Easting* Northing Elevation Azimut
(°)
Weighted
Mean
(Li2O wt.
%)
Interval
(m)
1 1 431238 5460809 456 340.0 1.02 10.0
Incl. 1.56 6.0
1 2 431234 5460803 450 344.0 0.64 2.7
1 3 431219 5460794 451 312.0 1.23 10.3
Incl. 2.88 4.0
1 4 431210 5460791 447 1.63 3.0
1 5 431199 5460786 447 320.0 0.90 7.0
2 1 431250 5460857 448 342.0 0.75 9.0
3 1 431306 5460911 453 136.0 --- ---
4 1 431358 5460962 451 138.0 1.84 2.0
5 1 431161 5460724 454 142.0 1.40 1.3
6 1 430969 5460678 461 172.0 2.15 0.9
*NAD83; Zone 15N
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
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 concentration 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 transpor t 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.
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 exploration company focused on seeking and
acquiring world -class mineral projects. The company holds the J ackpot lithium
property located near Nipigon, Ont. , which contains known pegmatite showings
including two historical resources of 2 million tons grading 1.09% Li 2O 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.
www.imaginelithium.com
Suite 1240 – 789 W. Pender Street, Vancouver, BC V6C 1H2
ON BEHALF OF THE BOARD
“J.C. St-Amour”
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: +1-604-683-3995
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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 f orward-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).