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.
Allan Frame, President and CEO of Beyond Lithium commented: “We have covered much ground since we started the exploration program back in May on our 64 properties which cover over 150,000 hectares. We have now collected over 933 samples and received results for over 680 of those. Compilation of these results and detailed mapping is ongoing and the results will help guide the next phase of 2023 our exploration program which will include drilling in the fall.”
Mr. Frame added: “We are seeing encouraging results in various areas, including in northwest Ontario where I will be joining our technical team for a site visit from September 16th to 19th. An additional update to shareholders is planned for next week, which update will contain further assay results.”
Phase 1 Exploration Update
Phase 1 exploration in the Wabigoon-English River District is now completed and covered an area totalling 22,002 ha. The projects in that area include Linklater Lake, Tennant Lake, Sollas Lake, Superb, and Maytham Lake.
In addition, the Phase 1 exploration program in the Root Lake area has resumed after being delayed by forest fires earlier this field season. Properties in the area include the Peggy Group (7,410 ha), Root Lake North (1,322 ha), and McKenzie Bay (6,186 ha), all of which are close to Green Technology Metals’ (ASX: GT1) Root-McComb Lithium projects.
The Wabigoon-English River boundary zone has been known for rare-element mineralization with over a 130 km strike length between Linklater Lake to Superb Lake near Nakina. However, rare-element mineralization in this region has not been investigated since the 1950s apart from the Superb Lake spodumene pegmatite that is now being explored by Rock Edge Resources Ltd. (CSE: REDG) and the Seymour Lake Lithium deposit owned by Green Technology Metals (ASX: GT1).
Beyond Lithium collected 30 samples from the Superb Lake project and 33 samples from the Maytham Lake project. Assays from the 30 samples at the Superb Lake project show local clusters of elevated lithium near contact between a granitic intrusive body and metavolcanic host rocks following a similar overall trend as the spodumene bearing pegmatites identified by Rock Edge Resources Ltd.’s (CSE: REDG) at their Superb Lake Project.
The 33 samples from the Maytham Lake Project also show local clusters of elevated lithium near contact between the granitic intrusive body and metavolcanic host rocks.
Beyond Lithium is planning to perform a Phase 2 exploration up program on the Superb Lake and the Maytham projects because of the elevated and fractionated geochemical background established from the Phase 1 program.
Beyond Lithium has completed the Phase 1 exploration program on the five projects in the Dryden area which include the Webb East (2,955 ha), Webb West (624 ha), Gullwing-Tot (645 ha), Satellite (1,287 ha), and Laval (1,042 ha) projects which neighbor Critical Resources Ltd.’s (ASX: CRR) Mavis Lake Lithium project. Some of the pegmatites mapped on Beyond Lithium’s projects suggest a similar orientation with the Tot Lake and the Gullwing Lake Pegmatite Groups that are currently being explored by Critical Resources Ltd.
Because these five projects are situated in a highly mineralized area that is supported by the Phase 1 field data, Beyond Lithium has planned a Phase 2 follow up program on these five projects to further define their LCT mineralization potential.
Phase 2 Exploration Update
The Phase 2 program at the Cosgrave Lake project has been in progress since the recent discovery of the fertile Allen Graeme (“AG”) pluton. The Phase 2 program has defined the zonation around the AG pluton including the border zone, the beryl zone, and the green muscovite zone as most LCT pegmatite are concentrically, but irregularly, zoned. The recognition of these different zones furthermore supports the exploration direction to be northeast to northeast-east aligning with local elevated lithium and cesium values and the orientation of the pegmatite zones. In the Phase 2 program, 71 additional samples and 55 new pegmatites have been collected and mapped around the AG pluton.
These pegmatite zones outlined in blue in the image above largely host clusters of pegmatites ranging from 1 to 2 m wide to local blowouts of up to 40 to 60 m wide. This contact structure orientation is the preferential orientation for fluid pathway for the formation and fractionation of LCT pegmatites in this area as most LCT pegmatites deposits in the world have some sort of structural control for their formation.
For more information on Beyond Lithium, be sure to check out Chris Parry’s recent tale of the tape.
After a move of over 113% in less than a month hitting record highs at $0.52 in July 2023, the stock saw profit taking and has pulled back quite substantially. Support was found at the $0.30 zone and we can see the importance of this price level due to the large wick candle printed on September 1st. Resistance comes in at $0.40.
Technically, the uptrend is still in play and this move lower was just a correction in the current uptrend. We can say this because the higher low comes in at $0.275, just a bit below the $0.30 support zone. According to market structure analysis, as long as the recent higher low is held, the uptrend remains intact.
There are plenty of future catalysts with exploration update news. The next price run would come with a close and break above $0.40.
