Imagine Lithium (IL) has announced a new mineral resource estimate for its Jackpot Project near Nipigon, Ontario. The company revealed an 8.4-million tonne lithium oxide resource with promising open-pit mining prospects. Located 40 kilometers north of Nipigon and 150 kilometers northeast of Thunder Bay, the property is home to lithium-bearing pegmatite rock.

Focus on Jackpot Project

The Jackpot Project features two pits: Jackpot and Casino Royale. Jackpot holds 3.1 million tonnes, with a grading of 0.85% lithium oxide in the indicated category, and 2.2 million tonnes grading 0.82% in the inferred category. Meanwhile, Casino Royale contains 3.1 million tonnes inferred at 1.0% lithium oxide.

Resource Growth and Testing Results

Imagine Lithium aims to grow this resource with further drilling. Metallurgical tests show a lithium oxide recovery rate of up to 81.5%, affirming the project’s viability. According to company president J.C. St-Amour, this is an “excellent starting point” for future resource development.

Regional Lithium Opportunities

The project is part of a burgeoning lithium region in northwestern Ontario. Neighboring development includes Rock Tech Lithium’s advanced Georgia Lake deposit, 15 kilometers north. Rock Tech plans collaboration efforts with local partners on a lithium refinery and port in Red Rock.

Imagine Lithium leverages its strategic location, benefitting from highway access, power, and regional workforce resources. The company maintains flexibility in shipping materials to processing and battery plants in Ontario and potential refineries in Red Rock and Thunder Bay.

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