ILI.v $ARXRF Stockwatch Diamond & Specialty Minerals Summary for May 12, 2022
2022-05-12 20:09 ET - Market Summary
by Will Purcell
J.C. St-Amour's Imagine Lithium Inc. ( $ILI ) lost one-half cent to eight cents on 137,000 shares on word that it has drilled an eight-metre interval averaging 1.28 per cent lithium oxide at its Jackpot project in the Georgia Lake district, just north of Nipigon in Northern Ontario. The assays are new, but the drilling is not: The holes were completed in 2018 and Imagine Lithium has gotten around to testing this unsampled core just now. A second hole produced 1.02 per cent lithium oxide over 8.8 metres and while the two others also encountered lithium, the grades were lower and the intervals shorter.Mr. St-Amour, president, says that once he and his crew "refocused on the Jackpot lithium project," they recognized that the old core displayed significant but unsampled spodumene mineralization. The assays, he cheers, "confirm the visuals that we have been seeing." Accordingly, the visually-inclined Mr. St-Amour is looking forward to seeing results from the company's current drill program. That drilling, he cheers, is designed to test the main dike swarm at Jackpot, and to expand on the known historical resource area. The drilling is going well, he concludes, as samples from five holes are now at the lab.Jackpot does indeed have a historical resource, based on two of several known lithium-bearing pegmatite dikes. One of those dikes supported a calculation listing two million tonnes at 1.09 per cent lithium oxide, the other dike contained 750,000 tonnes at 1.38 per cent. Those grades are intriguing and are in line with what has been turning up elsewhere in the Georgia Lake area.
