Vancouver, British Columbia--(Newsfile Corp. - January 15, 2025) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to report the results of the fall 2024 diamond drill program and the 2024 field season, including the discovery of a new lithium pegmatite dike north of Casino Royale Zone. The Jackpot lithium project is in the Georgia Lake Pegmatite Field, approximately 140 km 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 18,800 ha land package (Figure 2).
Highlights of the fall drill program and 2024 field season include:
Casino Royale Zone:
- 1.08% Li2O over 11.50 m from 64.70 m in hole JP-24-42
- Including 1.46% Li2O over 8.00 m from 66.70 m
- 0.81% Li2O over 8.80 m from 103.00 m in hole JP-24-42
- Including 1.14% Li2O over 5.05 m from 103.95 m
New Discovery (500 Zone Extension):
- 1.61% Li2O over 7.80 m from channel sample CH24-01
- 1.96% Li2O and 2.08% Li2O in surface grab samples that bookend an east-west trending, spodumene pegmatite dike that is exposed in outcrop over 480 m, north of the Casino Royale Zone
The 2024 field season included geological and structural mapping, prospecting, soil sampling, and a biogeochemical survey on the project. Geological mapping covered approximately 2,100 ha and a total of 127 surface grab samples, 908 soil samples, and 499 biogeochemical spruce tip samples were collected on the project.
J.C. St-Amour, President of Imagine, commented:"The fall drill program at Casino Royale and the discovery of a new spodumene pegmatite extension of the 500 Zone continue to demonstrate the expansion potential for lithium resources at the Jackpot Project. Imagine is in an excellent position to build on our 3.1 Mt indicated and 5.3 Mt inferred (grading 0.85% and 0.91% Li2O, respectively) Mineral Resource inventory on the project. The results of the 2024 field season have provided new pegmatite targets which are untested and highlighted areas for focussed exploration activities in 2025. With nearby infrastructure and ports, the Project's proximity to a skilled workforce is a major advantage to putting Ontario's first lithium deposit into production."
Figure 1:Jackpot property located next to Trans-Canada Highway, power, port, railroad, and workforce.
Imagine Lithium has drilled a total of 45,722 m in 305 diamond drillholes on the Jackpot Project since 2018. Results announced today continue to demonstrate the grade, thickness, and continuity of the Casino Royale Zone (Table 1).
Table 1. Significant Li2O (%) intervals from the fall 2024 drill program.
Hole
From (m)
To (m)
Li2O (%)
Length (m)
ZONE
JP-24-42
64.70
76.20
1.08
11.50
Casino Royale
INCLUDING
66.70
74.70
1.46
8.00
Casino Royale
JP-24-42
103.00
111.80
0.81
8.80
Casino Royale
INCLUDING
103.95
109.00
1.14
5.05
Casino Royale
CH24-01
0.00
7.80
1.61
7.80
500 Zone Extension
The mapping and prospecting program delineated a 480m long trend of spodumene bearing pegmatite that was mapped in outcrop at seven separate locations (Figure 3). Results of the prospecting returned between 1.13% Li2O and 2.63% Li2O in grab samples (Table 2). A channel sample was cut across a bedrock exposure near sample 741595 and returned 1.61% Li2O over 7.80m (Table 1).
Figure 3: Casino Royale drilling and 500 Zone extension prospecting and channel sample.
Table 2. Significant Li2O (%) surface grab samples from the 500 Zone extension
Sample ID
UTM (mE)
UTM (mN)
Elevation (m)
Lithology
Li2O%
741598
431698.5
5462861.2
475.6
Pegmatite
2.63
282964
432003.3
5462856.9
464.5
Pegmatite
2.08
741600
431555.8
5462905.0
471.9
Pegmatite
2.01
741599
431516.6
5462901.6
473.6
Pegmatite
1.96
741595
431767.3
5462872.6
473.6
Pegmatite
1.81
741596
431805.0
5462870.3
478.0
Pegmatite
1.19
741597
431816.8
5462869.4
471.9
Pegmatite
1.13
Two large geochemical surveys were completed during the 2024 field program, including a soil sampling program in the southern portion of the property, from Jackpot south to Cosgrave Lake, and a biogeochemical spruce tip sampling program in the north central portion of the property. Results of the soil geochemical survey delineate a strong dispersion halo trending southwest from the Jackpot and Casino Royale deposits (Figure 4). We are currently evaluating the data to refine exploration targets using dispersion halos elsewhere on the property.
Figure 4: Soil geochemical results showing lithium in soil anomalies.
The biogeochemical sampling was completed over the north-central portion of the property and included 499 spruce tip samples (Figure 5). The biogeochemical sampling is thought to reflect in-situ mineralizing potential and a strong cesium (Cs) anomaly is observed near the newly discovered 500 Zone extension (Figure 5). A similar Cs anomaly is observed over the Jackpot deposit and the anomaly is interpreted to reflect near-surface spodumene pegmatite mineralization. Follow-up geological mapping, bedrock stripping and channel sampling is planned for this area during the 2025 field season to delineate drill targets.
Figure 5: Biogeochemical results showing Cs in spruce tip anomalies.
Imagine Lithium implemented a strict QA/QC protocol in processing all rock and soil samples collected from the core material and soil horizons obtained on 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 and soil 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. Rock core samples were split using a diamond saw with half of the sample 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. Soil samples were placed into small brown paper bags and analyzed by 4-Acid digest with ICP-OES and ICP-MS Finish.
Qualified Person
The technical content of this news release was 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 Jackpot Property consists of 297 mineral claims covering 18,800 hectares. The Property contains NI 43-101 compliant Mineral Resources of 3.1 Mt grading 0.85% Li2O in the Indicated category and 5.3 Mt grading 0.91% Li2O in the Inferred category, as well as a number of other known pegmatite showings.
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 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 atwww.sedarplus.ca).
