Imagine Lithium is a Vancouver-based mineral exploration company focused on advancing its flagship Jackpot Lithium Property in Northern Ontario’s Georgia Lake Area.
The property contains two historical resources, as well as multiple new pegmatite targets for future exploration.
Joining us here at the Top Line today to talk a little bit more about that is Imagine Lithium President and CEO JC St-Amour. It’s good to have you back here at the Top Line.
TMH: Let’s start with some big news, you’ve recently discovered at least one new pegmatite on the Jackpot property, over 500 metres. How does that impact the project?
JC: Well, this is interesting news actually because about 1.6 kilometres away from the Jackpot main zone we identified this new Pegmatite area. This pegmatite has been traced across 500 meters in strike. It could be longer. It is undercover, so it’s hard to determine exactly how long it is, but we’ve traced it at least 500 meters to date. It could be as much as 40 meters in thickness as well, and what’s significant about that is that the Jackpot historical resource of 2 million tons was calculated over about a 400-meter strike. So this strike here is already comparable to what Jackpot was before we started drilling it. So it basically gives an idea of the potential that the property package that we have has in the sense that there’s the ability to discover more of these deposits, Jackpot in the main zone can be one deposit, and then we can have satellite deposits that can add to what we have and grow resources as well.
TMH: Grab samples have returned Li2O values up to 2.72%, how do you rate those values or how do they compare?
JC: Yes, those are grab samples. So grab samples, the geologists select these samples,so they tend to be higher than the average grade, let’s say. But having said that, what’s important about this is that it is mineralized. That it does contain spodumene, which contains lithium. So that is the point of all this, the pegmatite is lithium-bearing, and so what we need to do is go back here and drill it and see how far we can trace it, and then the assay results will tell us the ultimate grade of the deposit itself. We do plan on going and drilling this project sometime this year, and we’re very hopeful about what we’ll find there.
TMH: Those discoveries also make you pretty hopeful of future discoveries on the property?
JC: Absolutely. We have a very large property package, and what we’ve prospected so far is a relatively small area within that, we’re within, say, a two-kilometre radius of the Jackpot main zone and the broader property is 19 kilometres wide by about 14 kilometres in length. So, there is a lot of ground to cover here, and we know from historical prospecting that there are a number of other pegmatites on the property that we need to go explore and test whether their lithium content and any one of those could be another lithium deposit. There is lots of potential here, and we’re hopeful that we will see more of this, not just this year but in the years to come.
TMH:You are also still waiting on another set of drill results. What are you hoping to see from them?
JC: We should hopefully get all our results back anytime now and put that out. What we’re expecting to see is more of the same in the sense that we’re growing the Jackpot Project. The drilling from 2022 expanded the mineralized zone by about 400 meters, which effectively doubled the strike length of the deposit. So, the drill holes that we’re waiting on were within that expansion zone and also exploring to the northeast of there as well. We’ll see what the results tell us but either way, we do know that the project is growing and still has the ability to grow because, again, it’s still open in this case to the east. It’s open to the west and potentially down-dip as well.
TMH: What should we be looking forward to for 2023?
JC: Yes, we do plan on drilling again this year. We’ll focus on the Jackpot main zone again to test the limits of that project and see ultimately what the scale of it is. We may have enough drilling this year to put out an initial resource by the end of this year, and then on top of that, we will test these other areas like the 500-meter pegmatite area and potentially others to test the lithium content of these areas. I forgot to mention earlier, but there are a number of other pegmatites that we know are lithium-bearing within a two-kilometre radius of Jackpot. So, we will test those areas as well if we can, but the 500-meter pegmatite is quite interesting, and it’ll be a priority target for us beyond the Jackpot main zone.
JC, thanks for joining us at The Market Herald today and sharing your insights with our Top Line audience and your investors.
We’ve been speaking with Imagine Lithium President and CEO JC St-Amour. The company trades on the TSX Venture Exchange under the ticker symbol ILI. You can also visit imaginelithium.com for more information.
Thanks for watching Top Line. In Vancouver, I’m Simon Druker. We’ll see you next time.
FULL DISCLOSURE: This is a paid article produced by The Market Herald.