Beyond Lithium (BY.CN) engages in the acquisition, development, and exploration of mineral property assets in Canada. The company primarily has a focus on Lithium, a commodity with great fundamentals given the increasing demand for Electric Vehicles. With 64 lithium properties in Ontario covering over 150,000 hectares, Beyond Lithium is the largest greenfield lithium exploration player in the Province.
Following its phase 1 exploration program on 39 properties, today Beyond Lithium announced the discovery of LCT pegmatite intrusive stock at its Cosgrove Lake Project. The new discovery was named the Allan Graeme (“AG”) Pluton in recognition of those individuals who played a significant role in its discovery.
The discovery has important implications:
- Anomalous rare earth elements of the AG Pluton have similarities to other plutons in the Georgia Lake District (the Pine Portage pluton, the MNW pluton, and the Barbara Lake pluton). These three fertile plutons all have well established lithium pegmatites belts association.
- The AG Pluton is over 266 hectares in size which is comparable to the Pine Portage and the MNW plutons located in the Georgia Lake District.
- Results from channel samples of two beryl pegmatites at the AG Pluton show (i) comparable geochemical values to other known fertile plutons, (ii) have similar Cs, Li, and Be values to those of the Tanco fertile pluton located at Bernie Lake, Manitoba2 and (iii) are elevated compared to the Glacier Lake batholith.
The discovery of the AG Pluton unlocks tremendous lithium exploration opportunities and sets up an exciting discovery story.
Mr. Frame, President and CEO of Beyond Lithium, commented: “This discovery shares similarities with three significant lithium discoveries in the Georgia Lake District, namely the MNW pluton, the Barbara Lake pluton, and the Pine Portage pluton. These well-known fertile plutons in the district are associated with prolific lithium pegmatite belts. The AG Pluton at Cosgrave Lake therefore presents a significant opportunity for Beyond Lithium. The size and geochemical characteristics of the AG Pluton indicate its potential as a source of concentrated fluids, volatiles, lithium, and rare earth minerals, making it an exceptionally promising area for further exploration.”
The Georgia Lake District is the host of several well-known fertile plutons namely the MNW pluton, the Barbara Lake pluton, and the Pine Portage pluton. As stated above, these plutons are associated with prolific lithium pegmatite belts. Below is a map of the AG pluton in relation to other fertile plutons and associated pegmatite groups.
“Beyond Lithium’s technical team relied on field observations, assay results and other data to make this important new discovery,” said Lawrence Tsang, Beyond Lithium VP of Exploration. “During a recent site visit with Technical Advisor and Sr. Geologist Graeme Evans, and Sr. Field Geologist Paul Baxter, we recognized that a distinctive beryl pegmatitic zone with an irregular and lobate contact to the Glacier Lake batholith located in the western part of the Cosgrave Lake project was essentially a complex and zoned pegmatitic fertile centre. These very coarse grained complex zoned muscovite and K-feldspar rich pegmatites contain beryl, alluaudite, fluorapatite and other good indicators like cordierite as the feeders for the potential of lithium pegmatites formation from the centre. These minerals demonstrate the exsolution of pegmatites forming melts from the parental pluton.”
The analogous size of the AG Pluton to other fertile plutons strongly suggests that the AG Pluton has generated substantial amounts of concentrated fluids and volatiles, serving as the source of lithium and rare earth minerals in lithium pegmatite formations in the vicinity.
During the phase 1 exploration program completed last month at the property, two beryl bearing pegmatites at the AG Pluton site were found and channel sampled for a total of 14 one-meter-wide samples.
“The channel sample results, and the AG Pluton’s values are typical of the other fertile pluton located in the Georgia Lake District and are elevated compared to the Glacier Lake batholith,” said Lawrence Tsang. He added, “The assay results also show that these channel samples are relatively anomalous even though located within the fertile pluton. Worthy of note is that the results are quite similar to the concentration in the Tanco granite pluton located at Bernie Lake, Manitoba.”
Following this important discovery, a phase 2 exploration program at Cosgrove is under way and will be focused on an 11km prospective corridor.
The main objectives of the Phase 2 exploration program at Cosgrave Lake project are:
- To define the limits of the new AG Pluton;
- To do step out and cross section traverse to outline the higher density of pegmatite trends;
- To utilize the LIBS analyzer to provide the field crew with instantaneous field data to locate the “hotter” or higher LIBS’s Li, Cs, Ta, lower K/RB values to find the spodumene productive zone.
In my last technical analysis of the stock, I highlighted the retest of the breakout zone and support at $0.45. Unfortunately, this did not hold and buyers were unable to get in another higher low. Instead, we have broken down below and are seeing sellers pile in on the retest which is just typical technical analysis price action.
We should also expect that some profits are being taken after the stock bounced from $0.225 to all time record highs at $0.52. A move of 113% plus in less than a month.
Going forward, a breakout above $0.45 would be bullish for the stock. But it appears as if the stock will test the next support level at the $0.375 zone.
