Project Highlights
- Intersects of 5 metres at 3.02%, 7.23 metres at 2.47% & 2 metres at 4.48% Li2O
- Latest results indicate a third lithium-bearing pegmatite zone
- Historic resource of 2,000,000 tonnes at 1.09% Li2O
- Multiple new pegmatite targets on the property for future exploration
Overview
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is situated 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 has a historical resource on the Dike No. 2 pegmatite zone, reported as 2Mt @ 1.09 Li2O estimated in 1956 by Ontario Lithium Company Limited*.
History
Lithium was first discovered near Georgia Lake in 1955 within granitic pegmatites. The current Jackpot property covers the Jackpot lithium deposits, described in a 1965 report by E.G. Pye published by the Ontario Department of Mines. The Jackpot deposits were tested by a total of 32 diamond drill holes in 1955 by Ontario Lithium Company Limited, an associated company of Conwest Exploration Co. Ltd. The drilling confirmed the presence of at least two spodumene-bearing granitic pegmatite bodies, one at the surface (Dike No. 1) and a second body (Dike No. 2) lying beneath the Dike No. 1.
Dike No. 1 is a 6 to 9 meters thick, flat-lying body occurring as outcrops and further exposed by historic trenching. A review of Ontario government assessment files suggest little drilling was completed on Dike No. 1 as efforts appear to have been focused on the larger (No. 2) Dike . The 1955 drill logs extracted from archived files indicate assaying from only one drilled section within the No. 1 Dike , even if spodumene is identified in several drill logs. Records from DDH 428 intersected 1.47% Li2O over 3.96 m from the surface. The Company has not verified the reported assays. The No.1 Dike represents a readily accessible target for trenching and bulk sampling and to acquire sufficient material for metallurgical testing.
Dike No. 2, is not exposed at the surface and was discovered by diamond drilling. Dike No.2 has been described by Pye (1965) as follows: "... Historical drill intercepts include 1.52 per cent Li2O over 10.6 metres (drill hole 411) and 1.17 per cent Li2O over 21.2 metres from drill hole 407."
*All drill intercepts reported are historical in nature and are taken from assessment files available at the Ontario Ministry of Northern Development and Mines. The assay results have not been verified by Imagine Lithium. 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 the NI-43-101 Instrument 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.
2018 Work Program
Approximately 90 kg of spodumene-bearing granitic pegmatite rocks were collected from the surface and sent for assaying. Five of seven samples returned significant lithium values with samples returning in excess of 2% Li2O. Significant results include the following: 0.85%, 2.08%, 1.02%, 2.01% and 2.82% Li2O (lithium oxide).
In 2018, the Company completed a diamond drilling program aimed at confirming and expanding on the historical drilling (1955) at the Jackpot Property. A total of 53 holes were drilled (9,496 metres) in its long-hole program and 8 drill holes (298 metres) in its short-hole program. The long-hole program was aimed at surface, near-surface, and deeper Main Zone Dike spodumene (lithium) bearing pegmatites, whereas the short-hole program was focused exclusively on delineating surface and near-surface spodumene-rich pegmatites.
In addition, during 2018, the Company completed a prospecting and grab sampling program (96 grab samples) over most of the Jackpot Main area, identifying six (6) new areas of evolved surface pegmatite dikes and extending the historically known central Jackpot dikes to the east (+500 metres) and to the west (+400 metres).
Please refer to the following news releases for full results:
Also in 2018, the Company completed a channel sampling program that generated a total of 26 channel cuts (essentially surface drill holes) from spodumene-bearing pegmatite outcrops (cleared mechanically and washed) over nine cleared areas, comprising 372 individual channel samples (355.40 metres).
See the following news release for full results: