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.

And the portfolio keeps expanding. Today, Beyond Lithium announced the acquisition of a 100% undivided interest in 279 non-contiguous mining claims totaling 9,378 hectares. This acquisition means a significant expansion of three of its optioned properties known as Ogani Lake, Maytham, and Superb Lake North, as well as the acquisition of a new property named Sydere. All properties are located in the Province of Ontario.

Allan Frame, President & CEO of Beyond Lithium, commented that, “The expansion of three of our properties comes on the heels of our Phase 1 exploration program results. We have now moved 17 projects to Phase 2 exploration and expanded three properties, in addition to the expansion of the Ear Falls project announced earlier this week. The upcoming results from our Phase 2 programs, plus pending results from Phase 1 exploration on several properties will dictate which projects we will dedicate exploration dollars to later this year and in 2024.”

He added: “Given the work done to date, we have identified several projects which we believe will be attractive for exploration companies wanting to establish a footprint in Ontario for lithium exploration. Consistent with our business plan which includes project generation, we are about to ramp up our efforts to find partners to advance various projects and provide non-dilutive capital for our company.”

The staking was conducted by Bounty Gold Corp and Last Resort Resources Ltd. on behalf of Beyond Lithium.  The acquisition was completed pursuant to the terms and conditions of a mineral property purchase agreement which also included the previously announced expansions of the Cosgrave and McKenzie properties.

Beyond Lithium will pay Bounty Gold and Last Resort an aggregate cash consideration of $44,300 and issue a total of 92,880 common shares of the Company. Following the recent acquisition, expansion and consolidation of properties, Beyond Lithium now has 61 properties covering over 180,000 hectares.

Ogani Lake

The Ogani Lake Project is located 30 km northeast of the Ear Falls Project which hosts Beyond Lithium’s newly discovered spodumene pegmatites zone and 65 km west of Green Technology Metals’ Root and McCombe Lithium deposits. Beryl was found during Beyond Lithium’s phase 1 program. The presence of beryl in pegmatites indicates the source of the pegmatites or the pegmatites’ parental pluton is abundant with the right rare-earth fluid composition for the potential of lithium-cesium-tantalum mineralization in pegmatites.

Maytham Lake and Superb Lake Projects Expansion

The Maytham Lake and the Superb Lake Projects are located along the Wabigoon-English River boundary zone that has been known for rare-element mineralization with over a 130 km strike length between Linklater Lake to Superb Lake near Nakina. Rare-element mineralization in this region has not been investigated in detail since the 1950s apart from the Superb Lake spodumene pegmatite that is now being explored by Rock Edge Resources Ltd.  and the Seymour Lake Lithium deposit owned by Green Technology Metals. Beyond Lithium completed the Phase 1 program at the two projects earlier this season.

Assays from this phase 1 program at superb Lake show local clusters of elevated Li near contact between a granitic intrusive body and metavolcanic host rocks following similar overall trend as the spodumene pegmatites at the Rock Edge Resources Ltd.’s Superb Lake Project. Likewise, the results from the Phase 1 program at the Maytham Lake Project show local clusters of elevated Li near contact between the granitic intrusive body and metavolcanic host rocks. Based on the encouraging results from the Phase 1 program on trend with the nearby Rock Edge’s spodumene pegmatites, Beyond Lithium staked and expanded the Superb Lake Project from 2,054 ha to 2,321 ha and the Maytham Lake Project from 7,400 ha to 9,805 ha in areas.

Be sure to check out Chris Parry’s recent tale of the tape for the rundown on Beyond Lithium and where he sees the Company going.

At time of writing, the stock is up 1.49% on the day.  Recently, Beyond Lithium did close above the important resistance zone at $0.40. A break which would set us up for a test of the $0.45 zone if the momentum continued. Instead, sellers have jumped in and profits have been taken.

Beyond Lithium remains in this recent range. 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 which could see the stock making a stronger close above $0.40.