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 its 2024 strategic plan. 2024 will see Beyond Lithium focus and advance on four primary projects: the Ear Falls Spodumene, the Victory Spodumene, the Cosgrave Lake, and the Wisa Lake Projects with diamond drilling and advanced mapping and sampling programs to delineate more targets for mechanical stripping and further diamond drilling.
Permitting activities will include the submission of exploration permits for the Ear Falls and the Victory Projects. Joint Venture and Option discussions with other interest parties are also a priority.
“Following careful planning over the last several weeks by the senior staff of Beyond Lithium, including our partners at Bounty Gold Corp. and Last Resorts Resources Ltd., we are pleased to unveil our priorities for the current year. These priorities take into account the exploration success achieved in 2023 and the current capital markets conditions for lithium explorers,” said Allan Frame, President and CEO of Beyond Lithium. “Having been a stockbroker for over 47 years before retiring in 2022, I am acutely aware of the need to set the right and realistic priorities to maximize the value of our assets while being attentive to shareholder dilution.”
Allan Frame commented further: “Exploration remains the top priority for Beyond Lithium in the 2024 program. We plan to advance four priority projects, the Ear Falls Spodumene, the Victory Spodumene, the Cosgrave Lake, and the Wisa Lake Projects through diamond drilling and advanced and detailed mapping and sampling programs to delineate more targets for mechanical stripping and further diamond drilling. We have already submitted two exploration permit applications to the Ministry of Mines in Ontario for stripping and drilling activities and these applications have now entered the 30 days public review and period. As we continue to uncover and discover additional new spodumene mineralization at different projects in the upcoming exploration programs, we expect Beyond Lithium’s portfolio of projects in Ontario to include both early to intermediate staged projects by the end of the year. Concurrently, we are actively discussing with different interested parties for our other promising lithium projects for potential Joint Ventures and Option opportunities. We believe our lithium portfolio is well positioned to take full advantage and be ahead when the market turns around.”
The main strategic goals for 2024 are to (i) drill test the spodumene mineralized corridors at Ear Falls and Victory to demonstrate the size and the potential of the system along strike and at depth, (ii) uncover additional spodumene mineralization at the Victory Spodumene Project and the Ear Falls Spodumene Project along their well-defined exploration corridors, and (iii) to discover new spodumene-bearing pegmatites at Cosgrave Lake and Wisa Lake.
The Victory Spodumene Project (16,682 ha) located in the Medicine Lake area near the towns of Vermilion Bay, Dryden, and the city of Kenora with excellent and existing infrastructure and grab samples from multiple spodumene-bearing pegmatites (40-50m wide) assayed up to 5.11% Li2O along a six kilometers long exploration corridor. Initial Channel sampling program will recommence in Spring (May/June). Previous program was not completed due to onset of snow. Initial results of 0.32% Li2O and 162ppm Cs over 13.85 meters with 2.05% over 1.00m are indicative of mineralization throughout the channel with, narrower, higher-grade zones. The results confirm surface observations and emphasize the need for mechanical stripping to reveal more mineralized zones of the pegmatite.
The Ear Falls Spodumene Project (20,623 ha) located right outside the town of Ear Falls with excellent and existing infrastructure and reconnaissance test holes outlined extensive lithium and cesium alterations in the pegmatites and the host rocks suggesting the presence of a larger system nearby. This model is also supported by a number of higher fractionated samples than the Wenasaga North Zone’s spodumene-bearing pegmatites (up to 4.54% Li2O) that are located along the 13 kilometers long exploration corridor suggesting multiple spodumene zones are yet to be uncovered.
The Cosgrave Lake Project (8,993 ha) located in the prolific Georgia Lake District surrounded with a few well-known lithium deposits including Imagine Lithium’s Jackpot Lithium Project, Rock Tech Lithium’s Georgia Lake Project, Balkan Mining’s flagship Gorge Lithium Project. The 2023 exploration program outlined highly fractionated grab samples assayed up to 0.39% Li2O from pegmatite located in the green muscovite zone away from the newly discovered AG Pluton.
The Wisa Lake Project (6,666 ha) is located in the southwestern part of Ontario that is positioned along trend of Green Technology Metals Wisa Project and Libra Lithium Corp’s Flanders Project. Beyond’s 2023 exploration program identified two swarms of pegmatites at the Wisa Lake Project, the eastern pegmatites, and the western pegmatites. The eastern pegmatites strike subparallel to the Green Technology Metals’ south pegmatite with grab samples of 6.38% Li2O along a 1.5km length by up to 2km wide trend and the western pegmatites are located 4km north of Libra Lithium’s new N-S trending spodumene-bearing pegmatite discovery with grab samples assayed up to 2.86% Li2O. The discovery of beryl, and the presence of low K/Rb ratios and high Ta values at our Wisa Lake project is indicative of highly fractionated LCT pegmatites on both sides of the property. All the factors combined, justify further exploration at this project.
Beyond Lithium plans to advance the four primary projects and at the same time dedicates to be a project generator company. Besides the four primary projects, Beyond Lithium has other promising projects located in other active lithium exploration districts including in the Superb Lake District, the Case Lake District, the Gathering Lake District, and the Mavis Lake District.
The stock recently began ranging at a major support zone around the $0.18 zone. The stock took out recent lows, but has now reversed and close back above $0.20. This is a bullish turn and the stock has actually closed above a short downtrend line. Multiple bullish signs. Perhaps this is the beginning of a larger move to the $0.44 zone? The stock has bounced from this support zone multiple times in the past as you can see from the chart.
