Imagine Lithium expands Jackpot project, grants options
Executive Summary
- Imagine Lithium acquired an additional 8,449 ha “Spod” lithium option, expanding its Jackpot project land base by 45 % to a total of 27,597 ha in the Georgia Lake pegmatite field.
- The acquisition is for a cash payment of $30,000 and carries a 2 % net smelter return (NSR) royalty held by Jadeite Capital Ltd.
- The company also granted 7.2 million stock options to an officer/director at $0.05 per share, exercisable over five years.
Key Details
- Land Package Expansion
- Added 8,449 ha Spod lithium option to existing Jackpot holdings.
- Total contiguous land in the Georgia Lake region now 27,597 ha.
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Creates continuous position between Jackpot deposit and Rock Tech Lithium’s Nama Creek deposit.
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Acquisition Terms
- Effective date: December 5, 2025.
- Purchase price: $30,000 cash for 18 multicell mineral claims.
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Subject to a 2 % NSR royalty payable to Jadeite Capital Ltd.
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Resource Context
- Current NI‑43‑101 resources (Sept 3 2024):
- Indicated: 3.1 million tonnes @ 0.85 % Li₂O (26,200 t Li₂O).
- Inferred: 5.3 million tonnes @ 0.91 % Li₂O (49,500 t Li₂O).
- Cut‑off grade: 0.30 % Li₂O (pit constrained).
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Recovery assumption used in MRE: 81.5 % Li₂O (based on SGS metallurgical testing).
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Metallurgical Highlights
- Testwork on a 200‑kg composite (1.72 % Li₂O, 0.29 % Fe₂O) produced a 6.0 % Li₂O spodumene concentrate with 81.5 % recovery and 0.76 % Fe₂O.
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Further grade/recovery improvements expected via dense‑media separation (DMS) and flotation.
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Option Grant
- 7.2 million options issued to an officer/director.
- Exercise price: $0.05 per share.
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Term: 5 years from grant date, under the company’s stock option plan.
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Qualified Person Review
- Technical content reviewed and approved by Jason Arnold, P.Geo, independent QP per NI 43‑101.
Notable Quotes
“We are pleased to announce the acquisition of a substantial land package for our Jackpot project, consolidating significantly more prospective ground and positioning Imagine Lithium as the largest landholder in the Georgia Lake region.” – Simone Suen, President
All forward‑looking statements are subject to risks and uncertainties; readers should consult the company’s most recent filings for additional information.