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February 21, 2024

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Beyond Lithium (BY.C) exploration indicates potential presence of higher-grade lithium

Beyond Lithium (BY.C) exploration indicates potential presence of higher-grade lithium

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.

Today, Beyond Lithium announced that recent exploration work at the Company’s Cosgrave Lake Project indicate the proximity to the potential discovery of a higher-grade lithium spodumene zone.

“We could not be happier with the results of the exploration program at Cosgrave Lake following the discovery of the Allen Graeme (“AG”) Pluton earlier this summer” said Allan Frame, President & CEO of Beyond Lithium. “The compilation of over 4,000 data points of lithology and mineralogy, 133 grab samples, including a sample with elevated Li2O values, indicate the proximity to a potential high-grade lithium spodumene zone on the property. We are optimistic that we could add a third spodumene discovery to our portfolio, with all three projects being within a 100-kilometer radius.”

Lawrence Tsang, VP Exploration of Beyond Lithium, commented, “It is very exciting news for Beyond Lithium to have a grab sample from a pegmatite away from the AG pluton and just outside of the green muscovite zone assaying 0.39% Li2O. From desktop study to boots on the ground, Beyond Lithium’s technical team systematically explored the Cosgrave Lake Project by first establishing background geochemistry and identifying the source and structure of the Project. We designed the exploration program relying on field data and observations and correlated the fractionation trend and the mineral zonation to the generic scientific model for LCT deposits. It took our team only a few months of field work to discover the source for lithium mineralization, the AG Pluton, establish the mineral zonation, delineate the fractionation trend and locate the 0.39% Li2O pegmatite sample. These results reaffirm the effectiveness of Beyond Lithium’s exploration model which is entirely based on a scientific and systematic approach. Beyond Lithium will continue to focus on exploring the potential proximal spodumene-bearing zone at the Cosgrave Lake Project and, in unison, will follow up on the newly established northeast zone that sits 6.5km northeast of the AG pluton and similarly towards the southwest part of the AG pluton in the next field program.”

 

The Cosgrave Lake Project is located in the Georgia Lake District. This district is an active and prolific lithium exploration area with more than 28 lithium occurrences recorded by Ontario Geological Survey that are hosted in five major pegmatite groups including the MNW, the Georgia Lake, the Barbara Lake, the Postogoni Lake, and the Forgan Lake.

Beyond Lithium has three projects in the Georgia Lake District: Cosgrave Lake (8,993 ha), Gathering Lake (6,948 ha), and Arrel Lake (3,585 ha), which are located near Imagine Lithium’s Jackpot Lithium Project, Rock Tech Lithium’s Georgia Lake Project, and Balkan Mining’s flagship Gorge Lithium Project.

 

To date, Beyond Lithium has collected a total of 133 grab samples and recorded more than 4,000 field data points of lithology and mineralogy at the Cosgrave Lake Project.

Allan Frame added: “Beyond Lithium has the largest package of greenfield lithium exploration projects in Ontario with 63 high potential lithium properties totalling over 195,000 hectares. In last than six months of field work, we built a very large and detailed geological and geochemical database covering 50 of the 63 projects. The database to date has more than 12,000 data points of lithology and minerology and over 1,300 grab samples and over 500 LIBS samples. These results will help guide our upcoming drill campaign planning at our Victory and Ear Falls spodumene projects and will also give us good geological indicators of the next steps on exploration at Cosgrave and other projects.”

“We are awaiting assay results from over 450 rock and channel samples, 50% of which come from our Victory and Ear Falls spodumene projects, and 240 drill core samples from our recently completed drill program at Ear Falls. We expect to be announcing assay results on a regular basis starting next week.”

For more info on Beyond Lithium, check out Chris Parry’s recent breakdown on the Company. He highlights why investors are excited:

  1. Spodumene Discoveries: Beyond Lithium has made two major discoveries of spodumene, a mineral rich in lithium, both in the same Ontario district. These discoveries are at the Ear Falls Spodumene Project and the Victory Spodumene Project, with eight additional projects in the district that can be worked, JVed, sold, or spun out.
  2. Exploration Progress: The company has quickly progressed in exploration, showing its cards to anyone who cares to look. In its first year, Beyond completed Phase 1 exploration on about 80% of its projects, with 18 projects moving into Phase 2. Drilling was scheduled to start again last month.
  3. Geographical Spread and Infrastructure: Beyond boasts a vast area of lithium projects, with Ear Falls covering over 20,000 hectares and Victory over 16,000 hectares. These areas have good infrastructure support such as major roads, power lines, local labor, and communication services.
  4. Technical Discoveries and Potential: At the Victory Spodumene Discovery, large spodumene-bearing pegmatites have been found, which are significant for their lithium content. The company has identified a 6 km long corridor for exploring similar sized spodumene pegmatites.
  5. Expansion and Sample Results: The Ear Falls Spodumene Discovery has expanded significantly, and the company has discovered spodumene-bearing pegmatites over a 1 km strike length with potential for further exploration. The lithium oxide (Li2O) content in the samples ranges from 0.76% to 4.54%.
  6. AG Pluton Discovery: A significant pluton, named the Allen Graeme Pluton (AG Pluton), has been discovered at their Cosgrave Lake Project. This pluton is over 320 hectares in size and is considered a source of lithium-cesium-tantalum (LCT) fractionation and mineralization.
  7. Capitalization and Market Position: Beyond Lithium is positioning itself as a significant player in the lithium exploration sector in Ontario, and has done so while maintaining a tight share structure, and a market cap of just $9.5 million.

TradingView Chart

The stock did range and bounce at support at the $0.28 zone. Going forward, this zone remains key support. However, I want to mention the $0.32 level as well since this is where the stock broke out and retested. We have a bit of a flip zone there.

Now, the stock is testing the key resistance zone around $0.42. A daily candle close above this resistance zone would get the stock to test previous all time highs at $0.53 before making new record highs.

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