Source: Imagine Lithium Inc.
Market Herald logo

Subscribe

Be the first with the news that moves the market

Imagine Lithium (ILI) released assay results from its ongoing drill program at the Jackpot Lithium property.

The channel samples were collected 1 km southwest of the Jackpot Main Zone, where analyzed grab samples provided significant Li2O concentrations.

Highlights:

  • 10.3 metres at 1.23 per cent Li2O, including 4 metres at 2.88 per cent Li2O
  • 10 metres at 1.02 per cent Li2O, including 6 metres at 1.56 per centLi2O

All five channels taken from Site 1 returned intervals containing lithium grades ranging from 0.64 per cent to 2.88 per cent Li2O. Five additional sites submitted to channel sampling also returned intervals containing 0.75 per cent to 2.15 per cent Li2O.

Imagine’s President, J.C. St-Amour, said that channel samples 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 does 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 provides 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 the potential to find additional deposits on the broader Jackpot property.”

Channel Sample Results

Site Channel
No.
Easting Northing Elevation Azimut
(°)
Weighted
Mean
(Li
2O wt.
per cent)
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








Imagine Lithium is a junior mining exploration company focused on 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 per cent Li2O and 750,000 tons at 1.38 per cent Li2O.

Imagine Lithium Inc. (ILI) is unchanged, trading at C$0.085.


More From The Market Herald

" From corporate launch to upcoming initial resource estimate, here’s one of 2022’s top lithium performers

Lithium Ionic Corp. has been hailed as the multi-billion-dollar blueprint next door by analysts.

" Successful gold explorer makes NEW polymetallic discovery

Northstar Gold has been making headlines over the past couple of years advancing its high-grade flagship Miller Gold Property.

" @ the Bell: Growth-sensitive stocks fluctuate on mega jobs report

Canada’s main stock index ended on the higher side of flat on Friday trading as strength in the energy and technology sectors was weighed against

" Aimia (TSX:AIM) sells $7.36M in shares to Mithaq Capital

Aimia (AIM) has sold approximately $7.36 million of its common shares to investor company Mithaq Capital SPC.