Imagine Lithium Stock Price, News & Analysis

Imagine Lithium Inc. (OTCQB: ARXRF; TSXV: ILI) is a junior mining exploration company in the mineral resources sector. According to the company’s disclosures, Imagine Lithium is focused on seeking and acquiring mineral projects and is advancing its 100%-owned Jackpot Lithium Project in the Georgia Lake area of Ontario, Canada. The company’s activities are centered on lithium-bearing pegmatite exploration and resource definition.

The company states that it holds the Jackpot lithium property located in the Georgia Lake Pegmatite Field, about 140 km north-northeast of Thunder Bay, Ontario. The property is described as being approximately 12 km by road from the Trans-Canada Highway (Highway 11) and in proximity to power, railroads, ports, and a regional workforce. Imagine Lithium reports that the Jackpot Property consists of mineral claims covering a large land package and that it has established a National Instrument 43-101 (“NI 43-101”) compliant Mineral Resource Estimate on the project.

Jackpot Lithium Property and Resource Base

Across multiple company news releases, Imagine Lithium describes the Jackpot Property as hosting lithium-bearing granitic pegmatite dikes distributed over several zones. The company reports that the property contains NI 43-101 compliant Mineral Resources of 3.1 million tonnes grading 0.85% Li2O in the Indicated category and 5.3 million tonnes grading 0.91% Li2O in the Inferred category. These resources are stated to be contained within two conceptual open-pit shells referred to as the Jackpot Pit and the Casino Royale Pit, based on work prepared by P&E Mining Consultants Inc. and supported by a filed NI 43-101 Technical Report.

The company indicates that the Jackpot deposit and the Casino Royale zone are characterized by swarms of mineralized lithium-bearing pegmatite dikes. The conceptual pits are described as pit-constrained Mineral Resources with a cut-off grade derived from assumptions on lithium prices, recoveries, mining costs, processing costs, and pit slopes, as outlined in the company’s technical disclosure. Imagine Lithium notes that the resources remain open along strike and to depth, and that exploration efforts have focused on expanding mineralization in and around these zones.

Exploration Focus and Key Zones

Imagine Lithium’s public updates emphasize ongoing exploration and drilling at several target areas within the Jackpot Property. The company reports work at the Jackpot Main Zone, the Jackpot West extension, the Casino Royale zone, and additional zones such as the 500 Zone extension, Jackpot West, Newkirk, Cosgrave North, Southwest, Blay Lake, and other spodumene-bearing pegmatite occurrences.

According to the company, drilling and surface work have outlined:

• Jackpot Main Zone and Jackpot West extension – Near-surface lithium-bearing pegmatite intercepts, including intervals such as 0.92% Li2O over 35.10 m at Jackpot West, which the company highlights as one of the larger intersections reported on the property.
• Casino Royale zone – An east–west trending, spodumene-bearing pegmatite dike located approximately 500 m north of the Jackpot Main Zone. The company reports that this zone has been intersected in multiple drill holes, with intervals such as 1.02% Li2O over 18.90 m, and that it has a drill-tested strike length of about 200 m with indications it may extend further based on surface sampling.
• 500 Zone extension and new pegmatite discoveries – Mapping, prospecting, channel sampling, and grab sampling have identified additional spodumene-bearing pegmatite trends, including a mapped trend over hundreds of metres with grab samples in the 1–2.6% Li2O range, as disclosed in company tables and figures.

The company states that it has completed tens of thousands of metres of diamond drilling on the Jackpot Project since 2018. These drilling campaigns, combined with surface mapping, soil sampling, and biogeochemical surveys, are described as the basis for the current resource model and for identifying new exploration targets.

Metallurgy and Technical Studies

Imagine Lithium reports that metallurgical test work on the Jackpot mineralization has been conducted by SGS Lakefield. According to the company’s news releases, testing on a composite sample produced a spodumene concentrate grading approximately 6.0% Li2O with an 81.5% Li2O recovery using Heavy Liquid Separation, with additional optimization through dense media separation and flotation expected to be evaluated. The company notes that the 81.5% recovery figure has been adopted in the Mineral Resource Estimate cut-off assumptions.

The company further indicates that the NI 43-101 Mineral Resource Estimate uses an inverse distance squared estimation method on a block model with a specified block size, and a bulk density of 2.69 t/m³ determined from site samples. These technical parameters are summarized in the company’s resource-related news releases and the referenced Technical Report.

Location and Infrastructure

In its public communications, Imagine Lithium consistently emphasizes the location and infrastructure associated with the Jackpot Property. The project is described as being:

• Located in the Georgia Lake Pegmatite Field in Ontario, approximately 140 km north-northeast of Thunder Bay.
• Approximately 12 km by road from the Trans-Canada Highway (Highway 11).
• In proximity to power sources, railroads, ports, and a regional workforce.

The company also notes that the project is approximately 40 km from the Town of Nipigon, about 150 km from the port of Thunder Bay, and about 60 km from a potential port at Red Rock, based on its own disclosures. It further states that the property’s proximity to the Great Lakes and St. Lawrence Seaway offers shipping access to processing plants and potential downstream facilities, as described in its news releases. These location and infrastructure details are presented by the company as key characteristics of the project.

Corporate Status and Exchange Listings

Imagine Lithium states that its shares trade on the TSX Venture Exchange under the symbol ILI and on the OTCQB under the symbol ARXRF. The company describes itself as a junior mining exploration issuer and has announced appointments to its board and management team through its news releases. These communications include the appointment of a new president and additional directors, highlighting experience in mining, lithium projects, and critical minerals investment, as reported by the company.

Exploration Approach and Data Quality

Across its technical updates, Imagine Lithium describes a range of exploration activities on the Jackpot Property, including:

• Diamond drilling to define and expand lithium-bearing pegmatite zones.
• Geological and structural mapping over large portions of the property.
• Surface rock and grab sampling of pegmatite outcrops, subcrop, and boulders.
• Soil sampling programs on defined grids to identify lithium-cesium-tantalum anomalies.
• Biogeochemical sampling (for example, spruce tip samples) to help delineate anomalies associated with pegmatite mineralization.
• Geophysical surveys, including high-resolution magnetic and LiDAR surveys, to define structural corridors and pegmatite trends.

The company states that it has implemented a QA/QC protocol for rock and soil samples, involving certified standards, blanks, and duplicates, as well as secure sample handling and analysis at AGAT Laboratories in Thunder Bay. Analytical methods are described as including sodium peroxide fusion with ICP-OES and ICP-MS finish for lithium and four-acid digest with ICP-based analysis for soils. These procedures are presented by the company as measures to validate assay accuracy and precision.

Project Reports and Compliance

Imagine Lithium has announced the filing of an independent NI 43-101 Technical Report supporting the Mineral Resource Estimate for the Jackpot Lithium Property. The report is attributed to P&E Mining Consultants Inc., with an independent Qualified Person identified in the company’s disclosure. The company notes that this Technical Report is available on SEDAR+ and on its own information channels. The Mineral Resource Estimate is stated to have been prepared in accordance with NI 43-101 and the CIM Standards on Mineral Resources and Reserves and related best practice guidelines.

Summary

According to its public statements, Imagine Lithium Inc. is a junior exploration company focused on lithium-bearing pegmatite mineralization at its Jackpot Property in the Georgia Lake area of Ontario. The company highlights a NI 43-101 compliant Mineral Resource Estimate with Indicated and Inferred lithium resources, ongoing drilling and surface exploration across multiple zones, metallurgical test work indicating the potential to produce a spodumene concentrate, and a project location near established infrastructure. Its shares trade on the TSX Venture Exchange and the OTCQB, and its disclosures emphasize continued exploration and technical evaluation of the Jackpot Lithium Project.