Imagine Lithium (TSXV:ILI) is a Canadian junior exploration company focused on advancing its flagship Jackpot Lithium Project in Ontario.
The property contains known lithium bearing granitic pegmatite dikes, of which two provided estimated historical resources of 2 million tons at 1.09 per cent Lithium oxide and 750,000 tons at 1.38 per cent per cent Lithium oxide.
The company’s President is JC St-Amour.
TRANSCRIPT BELOW:
TMH: To start off, can you tell us a little bit about yourself and the history of the company?
JCS: Sure. well Imagine Lithium was created as an exploration company and has been focused on our Jackpot Lithium project here since for the last at least five years. I personally joined the company a couple years ago to head up the company and exploration program on the project. I have 20 years plus experience in the mining industry primarily as an investment banker. I do have training as a geologist. I have a master’s degree in geology as well. Although I spent most of my career working in finance and advising and financing mining companies in particular. We have a good team on the board as well with expertise from the geological side, as well as engineering side and quite a bit of knowledge on the lithium space as well. So overall I think we have a good team and we’re well positioned to advance this company as we go forward here.
TMH: Can you update our investor audience and Imagine Lithium shareholders on the recent work at the Jackpot Project?
JCS: That’s right. Yeah. So the project was originally discovered back in the 1950s and 60s and back then there was a resource calculated at the time of so that 2 million tons comes from that time period. The company did drill it in 2018 as well and we are now actually drilling it again. We started drilling it back in say March, April this year and are continuing to drill it right now. So our drill program is ongoing. We are targeting, expanding that resource both proving it up actually and also expanding it based on what we can see there. So our goal would be to see what the scale of this project is, are we talking about something that’s 2 million tons or is it going to be something significantly larger than that and we’re hoping to demonstrate that it will be something considerably larger than that.
TMH: your geological team reviewed historical data 2018 and recently found significant mineralization in unsampled core can you tell us how it benefits further exploration of the project?
JCS: Sure. So what we’re seeing at Jackpot is a series of pegmatite dike. So this is a hard rock lithium project. The lithium is contained within a mineral called spodumene, which is itself located with inside these pegmatite dike. What we have on our project is a series of these dikes, a dikes swarm if you will. So if you can imagine your fingers being sort of parallel what we’re doing is exploring along the length of these fingers to see how long they are. The historical work was done on a portion of them, for example and now we’re just trying to see how much more of it there is.
So our exploration project or our drilling is targeting basically the pegmatites along the strike. They disappear undercover at that point. So we’re trying to find them underground which we’re having success doing and I would think that we should have some results here, sort of demonstrating that in the near term here. What we’re doing at jackpot is exploring both long strike. So to see how long these dikes can be but also seeing how many more of these there are. So if we have two or three fingers found for example, are there more to the north and south of them as well? So there are multiple ways to expand on this project. Along strike is sort of the easiest way to do it but at the same time, we can also drill to explore other areas within the jackpot property to see if we can find more of these dikes swarms or individual dikes as well to add to this picture.
TMH: What are the company’s current objectives for the work going on there?
JCS: So for this year, the plan is to continue drilling. So we will drill between now and year end almost continuously, I think there’ll be a bit of a break here and for a little while but we’ll be drilling most of the year, if not and then probably well within to the next year, as well as we drill throughout the winter and again, the plan is to see how much more we can discover here. So not only will we be drilling at Jackpot itself, but we we’re also drilling other targets beyond Jackpot, where we have seen spodumene mineralization on surface. These provide other drill targets, they’re more exploration targets and at the same time as well, sorry I might add that on top of the drilling we’re also conducting a geological sampling program on the broader property to see if we can find even more pegmatite showings so that we can have additional targets to go after this year, but not only this year but in the years to come there is a lot of smoke on this property and there’s a lot to follow up on, so that there’ll be a lot of work to do over the next few years, for sure.
TMH: For company shareholders and potential investors, what kind of future development and progress can we expect at the Jackpot Project?
JCS: I think one of the main things about Jackpot is our proximity to infrastructure we’re located right next to highway 11, which is Trans Canada highway very close to it. We also have power in proximity and not too far from the port of Thunder Bay is 140 kilometers away mostly by highway. There’s also a port at Nipigon. There’s also a railroad at Nipigon, which is about 40 kilometers away and
so all of this infrastructure is in place and we don’t have to spend money to build it like a lot of projects that might be much more remote would have to do. So that gives us a big advantage. It gives us an opportunity to develop something where if it turns out to be smaller than other projects and that’s fine, we can still make this work economically.
Thanks again for joining us at The Market Herald today, Mr. St-Amour We look forward to chatting with you again…
We’ve been speaking with JC St-Amour, President, and CEO of Imagine Lithium Ltd. The company trades on the TSX Venture Exchange under the symbol ILI.
I’d like once again to thank Mr. St-Amour for joining us and sharing this insightful information about his company with our Market Herald video podcast audience and investors.
For regular updates, visit imaginelithium.com.
FULL DISCLOSURE: This is a paid article produced by The Market Herald.
