Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Hitting the ‘Jackpot’ in the Booming Lithium Mining Space

Dave Jackson Dave Jackson, Stockhouse
2 Comments| May 11, 2022

{{labelSign}}  Favorites
{{errorMessage}}

As the race to meet supply chain needs in the booming green metals marketplace continues to accelerate, mining exploration companies are scouring the globe to find new, reliable, and cost-effective sources of the one metal that really matters the most: lithium.

The reason is clearly evident in driveways and on highways across the globe – the electric vehicle (EV) revolution and the millions of lithium-ion batteries needed to fuel it. Lithium batteries are also widely used in portable consumer electronic devices. The industry’s appetite for the silvery white metal is voracious and will only continue to get hungrier. Now, more than ever, historic jurisdictions will be re-explored while new mines are uncovered.

And one Vancouver BC-based junior explorer believes it has hit the “jackpot” in a lithium-bearing area strategically located in Northern Ontario, Canada.

Imagine Lithium Inc. (ILI) (TSX-V.ILI, OTCQB: ARXRF, Forum) – formerly Infinite Ore Corp. – is a well-positioned mining exploration company focused on seeking and acquiring world-class mineral projects. The company currently has 100% ownership in its flagship Jackpot Lithium property, located near Nipigon, Ontario. The mining region contains known pegmatite showings, including two historical resources of two-million tons grading 1.09% lithium oxide (Li2O) and 750,000 tons at 1.38% Li2O.


About the Jackpot Lithium Project

Imagine Lithium’s Jackpot property covers a large 14,540 hectare land package in one of the world’s most highly prospective areas for lithium mining. The company is currently in the middle of a 3,000-metre (m) drill program on targets in and around the main dike swarm, designed to expand on the drilling conducted in 2018 by testing the eastern and western extensions of the dikes. Highlights of the 2018 program included 5 m at 3.02% Li2O, 7.23 m at 2.47% Li2O, and 2 m at 4.48% Li2O, results that fall into the higher lithium grade category.


(Click image to enlarge)


Later this year, ILI will also test “zones of interest” located on the newly acquired claims approximately 1.1 to 1.3 km to the west-southwest of the known Jackpot dikes with the aim of potentially linking these to the existing resource area.

What makes this lithium project significantly different than most others is that the lithium is not extracted using evaporation ponds – vis-à-vis the salar deposits of South America’s high Andes region, aka the famous ‘Lithium Triangle.’ Jackpot’s lithium is hosted in spodumene bearing pegmatite dikes which could be mined by open pit. It is located in one of the world’s most mining-friendly jurisdictions (Ontario) with excellent infrastructure, close to regional power grids, and within near proximity to vital supply chain transportation (nearby road, rail, and a deep-water port in Thunder Bay – just 140 km from Jackpot’s operational base).

In short, the Jackpot project boasts the kind of intangibles that every metals & mining investor is looking for – getting the ore out of the earth cheaply, efficiently, processed quickly, and moved to markets easily.


(Click image to enlarge)

J. C. St-Amour, President and Director of Imagine Lithium, commented on the progress of the project to date:

"Never has there been a better time to be involved in lithium exploration in Ontario, with the Provincial government unveiling that it aims to position Ontario as a global leader in the supply chain of critical minerals outlining a made-in-Ontario electric vehicle supply chain strategy. Our goal this year is to aggressively drill, define, and expand the known lithium mineralized areas while making new lithium discoveries on this vast property in Ontario. Our current program is well funded and we are currently drilling on the property."


(Click image to enlarge)


In the News

On March 21st, Imagine Lithium announced the expansion of its land package at the Jackpot Lithium Project along with the signing of an exploration agreement with First Nations groups Bingwi Neyaashi Anishinaabek, Biinjitiwaabik Zaaging Anishinaabek, and the Red Rock Indian Band. Under the existing terms of the Agreement, ILI has agreed to, among other things, grant an aggregate of 3,000,000 common share purchase warrants to the First Nations groups, with each First Nations group receiving 1,000,000 warrants.

Imagine’s President St-Amour had this to say about the milestone First Nations’ agreement and its overall benefits:

"In keeping with Imagine Lithium's ESG goals, the agreement contemplates a mutual working relationship that includes respect for the environment and First Nations traditional knowledge, First Nations opportunities for employment, education and training (including education support for First Nations students studying in a mining related field), and community meetings and activities. Our exploration program at Imagine Lithium is underway and we seek to create value for all our important stakeholders as we move the Jackpot Lithium Project forward."


From the President

J.C. St-Amour, M.Sc., CFA, is President and Director of Imagine Lithium and has over 20 years of mining industry experience in corporate finance, mergers & acquisitions, and corporate management. He has a master's degree in geology and is a Chartered Financial Analyst (CFA) with strengths and expertise in capital markets, financial and investment analysis, asset valuation, due diligence, and managing financing and M&A transactions in the natural resource sector.

In conversation with Stockhouse Editorial, Mr. St-Amour offered a detailed account of Imagine Lithium’s near-term potential geared towards long-term gain.

SH1: J.C., can you tell us a bit about the Jackpot Lithium property and what makes it particularly unique?

Click to enlargeJ.C. St-Amour: Jackpot is located near infrastructure, including roads, power, and a deep-water port that can ship anywhere in the world. This gives us a strong advantage over more remote lithium projects. We are currently drilling the project to both confirm and expand the historical lithium resource.

SH2: The latest results at Jackpot indicate additional lithium-bearing pegmatite zones. What does this mean for shareholders and potential investors?

J.C. St-Amour:
The discovery of other lithium bearing pegmatite zones highlights the potential for expanding the resource on the project and provides a number of additional drill targets.

SH3: What are the advantages of lithium mining in this jurisdiction versus, for example, the aforementioned salar brines of the high Andes?

J.C. St-Amour: Besides Ontario being a more politically stable jurisdiction, access to infrastructure offers a great advantage. Lithium produced from hard rock pegmatites also leads to a higher quality final product. In addition, extracting lithium from brines has a greater impact on the environment.

SH4: Can you discuss the long-term strategy for Jackpot and Imagine Lithium as a whole, and how do you see the mineral exploration sector evolving in this region?

J.C. St-Amour: Our short-term goal is to build upon the known deposit and define the ultimate size of the project. Ultimately, we see the construction of a central processing facility that could process not only the lithium from Jackpot but also lithium from a number of other projects in the region.

SH5: Stockhouse metals & mining investors know that there’s been a dearth of capital available for junior exploration companies for the past few years. What makes Imagine Lithium attractive to retail, private equity, and institutional investors?

J.C. St-Amour: Imagine is a well financed company that has sufficient funds to complete its drilling program to expand on existing resources. We don’t need to access the capital markets any time soon and the stock has shown that it can trade with high volumes in the right market conditions.

SH6: Can you tell our audience a little bit about your corporate management team, along with the experience and innovative ideas they bring to the metals & mining space?

J.C. St-Amour: Besides the experience of myself and some of our directors and advisors in the capital markets, we have a good technical team with a wide range of experience in the mining industry from exploration to mine design. We have advisors and directors that have decades of experience managing exploration programs, including for lithium projects, and we have directors and advisors that have experience in designing and building mines.

SH: And finally, J.C., can you discuss the current market valuation of Imagine Lithium’s stock and why they are a good investment right now?

J.C. St-Amour: The company has a relatively low market cap compared to many lithium companies at the same stage. Our drilling and exploration program to expand the size of the resource will increase the value of the company as resources grow and should lead the company’s market value to come in line with its peers.


The Bottom Line

With a laser-sharp focus on lithium exploration in the safe, environmentally conscious mining jurisdiction of Ontario, the economic stimulus, along with the social benefits that lithium exploration and a future lithium mine can bring to the Nipigon region of Ontario could be immense.

As 21st century consumers pivot to clean EVs powered by lithium-ion batteries the environmental benefits that lithium brings to the entire planet cannot be underestimated. And lastly, a global electrification strategy that uses lithium batteries to bring clean, reliable electricity to communities far and wide – especially in developing economies – will fundamentally enhance their quality of life and provide future generations safe, dependable, and inexpensive energy…everywhere.

Infinite Lithium Corp. is progressing its Jackpot project at the right time and the right place, as the global demand for lithium continues to increase exponentially with the boom in electric vehicles, mass battery storage, along with the usage from newly-minted 5G phones and devices.

In short, Planet Earth is going to need a lot of batteries and Infinite Lithium may well have hit the “jackpot” in Northern Ontario.


(Click image to enlarge)

For regular updates and more information, visit www.imaginelithium.com.


FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.


{{labelSign}}  Favorites
{{errorMessage}}

Comments

No comments yet. Be first to comment!

Leave a Comment

You must be logged in to be able to post a comment.

Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today