Beyond Lithium Inc. (BY.C), a dynamic player in the emerging lithium exploration landscape, is reporting remarkable progress in its 2023 phase 1 exploration program. The project, proceeding on schedule and within budget, is transforming the mineral exploration scene across Ontario. The sampling surveys, backed by additional submissions as the programs persist, are steadily unlocking the lithium potential of this rich Canadian province.
Operating with an energetic momentum, Beyond Lithium has recently expanded its technical team with the addition of veteran geologist Graeme Evans, who now serves as the Technical Advisor. His 40-year experience, along with a host of senior mining companies such as Hudson Bay Mining, B.P. Selco, Inmet, and Teck Resources, will add tremendous value to Beyond Lithium’s ongoing and future projects. Graeme, a graduate from the University of British Columbia Sc. Geology, is a registered Professional Geologist in both British Columbia and Ontario.
One of the most exciting developments in this phase is the completion of prospecting, mapping, and sampling of all 64 properties across Ontario, including locations in Dryden Mavis Lake area, McKenzie Bay area, Mountairy and Hill Top Lake areas, and Escape Lake area. With a fourth team preparing to be deployed to the Case Lake area in early June, the project coverage is on an upward trajectory. This expansive initiative is designed to sample, map, and assess over 500 mapped pegmatites, covering an area of over 150,000 hectares.
Beyond Lithium has submitted a significant volume of samples to a laboratory in Red Lake, Ontario, for in-depth analysis, with 73 samples already in and an additional 66 collected samples to follow shortly. The average turnaround time for results is estimated to be around four weeks.
CEO Allan Frame appreciates the pace and progress of the current phase, praising the technical team led by Lawrence Tsang, VP Exploration, for keeping operations on schedule and budget. Frame’s enthusiasm is palpable as he looks forward to identifying and prioritizing drilling targets.
The phase 1 exploration program also extends its focus towards the historical pegmatite drill intercepts from three properties. A senior geologist will be re-logging and sampling these core intercepts in June, with results anticipated in July. Additionally, a LiDAR survey will begin on the Wisa property in early June to provide a detailed digital elevation model of the area, assisting in recognizing high-potential locations.
Beyond the program’s progress, the Company has also granted incentive stock options, stock appreciation rights, and restricted share units to specific directors, officers, and consultants of the Company, subject to certain vesting requirements. This gesture of goodwill not only boosts morale but also reinforces the company’s commitment to long-term growth and prosperity.
However, Beyond Lithium’s operations are a mere fragment of the lithium potential in Canada. The nation holds an estimated 2.9 million tonnes of lithium resources. Despite the significant demand for lithium, a critical component in electric vehicle batteries and solar panels, Canada’s lithium production is yet to take off. With the rising urgency for renewable energy and the electrification of transportation, the industry pressure to extract more lithium is higher than ever. As growing player in this race, Beyond Lithium Inc. is poised to help unlock the nation’s lithium potential, positioning Canada as a world leader in lithium exploration and production.
*Full disclosure: Beyond Lithium is an Equity Guru marketing client.
