Skip to content
April 24, 2024

Equity.Guru

Investment information for the new generation

Search
BEYOND LITHIUM

Beyond Lithium (BY.CN) reports Ear Falls exploration results

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 the results of a comprehensive exploration program at its Ear Falls spodumene project which confirm the potential of this recent discovery. 

The program consisted of:

  • A stripping program designed to expose the extension of the spodumene pegmatites in all-directions and to potentially uncover more subparallel dykes;
  • A drilling program targeted to further understand and delineate the characteristics and the densities of these subparallel spodumene pegmatite dykes; and
  • An exploration and sampling program along the identified 13 km lithium exploration corridor.

Allan Frame, President and CEO of Beyond Lithium, commented, “Beyond Lithium announced the discovery of the spodumene-bearing pegmatites zone at Ear Falls Project in September (see press release dated September 17, 2023). Grab samples from the area where the initial discovery was made (named the Wenasaga North Zone) assayed up to 4.54 per cent lithium oxide (“Li2O”). Given the promising results announced at the time, our team went back to the property and made significant additional discoveries. We are delighted that, in less than three months of field work, we have completed a prospecting program, a stripping and channel sampling program, and a drilling program and we have extensively sampled new areas.”

“Our field crew continued exploration was based on the geological data we collected from the early field work. They were able to expand the Wenasaga North Zone by over 50% from 1.0 km to 1.5 km by locating additional spodumene-bearing pegmatites. Yet, the footprint of the Wenasaga North Zone accounts for only 1.0% of the total Ear Falls Project size of 20,623 hectares.”

We expect to receive all the drilling assays from the lab in the first half of January at which point we will review all the data collected in 2023 and finalize a comprehensive drilling program to begin once permits are received.”

The channel sampling program consisted of a total of 64 channel samples from 15 channel locations ranging from 0.67m to 10.77m. The stripping and channel sampling program was designed to further understand the grade distribution and continuity in the pegmatites and the host rocks for designing the follow-up exploration program to explore for additional and subparallel spodumene-bearing pegmatites.

Lawrence Tsang, Beyond’s VP of Exploration stated: “We are glad that the prospecting, the stripping and channel sampling, and the drilling program completed at Ear Falls were successful at reaching the programs’ objective which was to gather geological data to understand the characteristics of the Ear Falls system for planning the next exploration program, including drilling.”

 

Drilling Summary included:

  • Completed seven AQ sized diamond drill holes totalling 329.59m from three different drilling sites testing up to 150 m strike length and 50 m dip continuity of pegmatites.
  • Five holes intersected spodumene mineralization, including one dyke not exposed on surface.
  • Model for stacked pegmatites system intercepting multiple subparallel spodumene-bearing pegmatites at depth confirmed.
  • System remains open to all directions.
  • Over 240 drilling samples results expected in the first half of January.

 

Lawrence Tsang commented: “This initial drilling program at Ear Falls demonstrated the pegmatites have good strike and dip continuities. In addition, the system remains open in all directions. The drilling has shown the potential to uncover more subparallel pegmatites at depth. In other words, more pegmatites are potentially covered by vegetation or overburden which can only be discovered by stripping or drilling. The Wenasaga North Zone discovery provided us with a starting point for exploration drilling at Ear Falls. The combination of wider and denser pegmatites with lithium mineralization in the Sandy Creek West Zone and the geological data collected from the prospecting and the channel sampling programs in the Wenasaga North Zone establishes a strong vector towards the Sandy Creek West Zone for further follow up exploration at Ear Falls.”

 

TradingView Chart

The stock is down 8% on today’s news at time of writing.

In terms of technical analysis, the stock failed to hold above the $0.42 support zone. What was once support has now become resistance. The stock retested $0.42 as resistance and saw the sellers jump in, leading to today’s drop. It looks like the stock will make a leg lower taking us down to the $027 support zone.

Related Posts

More on

Leave a Reply

Your email address will not be published. Required fields are marked *