Imagine Lithium Releases Initial Mineral Resource at Jackpot Property - Announces 3.1 Mt at 0.85% Li2O Indicated and 5.3 Mt at 0.91% Li2O Inferred Mineral Resources
Original announcement by tmx on
- Company
- Imagine Lithium Inc.
- Ticker
- ILI
- Exchange
- TSX
- Region
- Ontario
- Primary commodity
- Lithium
- Secondary commodities
- None reported
- Document categories
- Resource update, Metallurgy
- Extracted
- 2026-09-12 07:35:09 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Imagine Lithium has announced its initial NI 43-101 compliant Mineral Resource Estimate for the Jackpot Property in Ontario, totaling 8.4 Mt at an average grade of approximately 0.88% Li2O. The resource comprises 3.1 Mt Indicated and 5.3 Mt Inferred, with metallurgical test work showing 81.5% recovery.
Reasoning: The announcement of an initial NI 43-101 compliant mineral resource for the Jackpot Property represents a significant de-risking milestone for the company.
Positive factors
- Maiden mineral resource estimate established
- Strong lithium grades (0.85% - 0.91% Li2O)
- Project remains open in all directions
- Good metallurgical recovery (81.5%)
- Proximity to infrastructure and ports
Negative factors
- Resource is primarily Inferred (5.3 Mt vs 3.1 Mt Indicated)
Facts used in scoring: 3
Classification and evidence
Maiden Resourceneutral
First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable.
Why it applies: This is the first formal MRE for the Jackpot Property.
Evidence · text
“announce its initial NI 43-101 compliant lithium Mineral Resource Estimate”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Eugene Puritch, P.Eng., FEC, CET is named as the Qualified Person.
Evidence · text
“reviewed and approved by Eugene Puritch, P.Eng., FEC, CET”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The 0.30% Li2O cut-off is clearly stated.
Evidence · text
“The 0.30% Li 2 O cut-off was derived from”
Single Domain Onlynegative
Testing limited to one composite or domain — representativeness not established.
Why it applies: only one composite was tested
Extracted facts
Stored fact records: 3. Some facts used in scoring do not have a stored record.
Resource Estimates (2)
indicatedJackpot · lithiumTonnes: 3100000Grade: 0.85Grade Unit: % Li2OContained Metal: 26.2Contained Unit: ktView all detailsHide details
Identity
- Project
- Jackpot
- Commodity
- lithium
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- ILI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Eugene Puritch
- Resource group id
- resource:91e4fb610c8151bcad86
- Deposit or zone
- Jackpot Pit
Resource Data
- Category
- indicated
- Tonnes
- 3100000
- Grade
- 0.85
- Grade Unit
- % Li2O
- Contained Metal
- 26.2
- Contained Unit
- kt
- Cutoff Grade
- 0.3
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2024-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2024-09-03T00:00:00.000Z
Reasoning: Strong indicated lithium grade for a maiden resource.
Positive factors
- Indicated category provides higher geological confidence
Evidence · table
“0.85”
Context: 3.1
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredJackpot · lithiumTonnes: 5300000Grade: 0.91Grade Unit: % Li2OContained Metal: 49.5Contained Unit: ktView all detailsHide details
Identity
- Project
- Jackpot
- Commodity
- lithium
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- ILI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Eugene Puritch
- Resource group id
- resource:48fa1399b19b6596dcfe
- Deposit or zone
- Jackpot Pit
Resource Data
- Category
- inferred
- Tonnes
- 5300000
- Grade
- 0.91
- Grade Unit
- % Li2O
- Contained Metal
- 49.5
- Contained Unit
- kt
- Cutoff Grade
- 0.3
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2024-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2024-09-03T00:00:00.000Z
Reasoning: Significant tonnage added to the project scale.
Positive factors
- High grade for inferred material
Negative factors
- Inferred category carries lower geological confidence
Evidence · table
“0.91”
Context: 5.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Metallurgical Results (1)
Fact 1Jackpot · lithiumRecovery: 81.5 %View all detailsHide details
Identity
- Project
- Jackpot
- Commodity
- lithium
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- ILI
Test Work
- Program Status
- preliminary
- Sample
- overall Li2O recovery
Recovery
- Recovery
- 81.5 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS Canada
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2024-09-03T00:00:00.000Z
Reasoning: Metallurgical recovery of 81.5% is a positive indicator for processing viability.
Positive factors
- Solid recovery for lithium
Evidence · text
“overall Li 2 O recovery up to 81.5%”
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 81.5% is at or above the exceptional band (80%)
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.