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 list of projects which will form part of its exploration portfolio going into the 2024 season. 

The Company also announced that it has entered into a binding letter of intent with Bounty Gold Corp. and Last Resorts Resources Ltd. to amend the terms of the March 30, 2023 option agreements between the parties.

One year ago, Beyond Lithium announced that it had entered into a three-year option agreement of 57 properties totalling 125,751 hectares from Bounty Gold and Last Resort with an annual cash option payment and share issuance to be made on the first, second and third anniversary of the March 2023 Agreements. The amendment defers the first anniversary cash payment of the March 2023 Agreements until August 31, 2024. 

“Following careful planning over the last several weeks by the senior staff of Beyond Lithium, including our partners at Bounty Gold and Last Resorts, we are pleased to unveil our 2024 lithium exploration portfolio in Ontario,” said Allan Frame, President and CEO of Beyond Lithium. “I cannot overstate the importance of the continued support by Bounty Gold and Last Resort who have agreed to defer all cash option payments until August 31^st, 2024. This will allow our Company to continue to prioritize exploration dollars and keep dilution at a minimum. Given our low cash burn, most cash needs are now for exploration and will be addressed through flow-through dollars. These amendments will also allow Beyond Lithium to continue to have discussions with potential joint venture partners and optionors without being constrained by immediate financial necessities.”

The main strategic goals for 2024 are:

(i) drill test the spodumene mineralized corridors at Victory and Ear Falls 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

(iii) to discover new spodumene-bearing pegmatites at Cosgrave Lake and Wisa Lake

(iv) advance the other projects through low cost prospecting and continue to pursue joint venture or option deals for them.

In terms of the Projects, they can be split into groups.

Case Lake Group Projects

• The Case Lake Group Projects are comprised of the Case South and the Stimson Project located in NE Ontario.
• The Case South Project is located next to Power Metals’ Case Lake Project with spodumene pegmatite discovery and significant cesium mineralization. Beyond’s Case Lake District Projects and Power Metals’ Case Lake Project follow along the same subprovincial boundary consisting of the granitic fertile Case Lake Batholith.
• The historical drill log from the Stimson project recorded two granitic complex intervals with pegmatites mineralized with potential spodumene or green feldspar mineralization.
• Despite limited Phase 1 prospecting in 2023, and only five samples being collected on Case Lake South, Beyond Lithium was successful at identifying a fractionated pegmatite with a K/Rb ratio of 35. This pegmatite is located on-trend and approximately 5km west of the West Joe spodumene-bearing pegmatite on Power Metals Inc. neighboring property.

Bear Head Group Projects

• The Bear Head Group Projects are comprised of five projects totalling over 10,000 hectares located in NW Ontario and along the regional Bear Head Lake Fault structure in northwestern Ontario that hosts Frontier Lithium’s Pak & Spark Deposits.
• Two brand-new greenfield spodumene discoveries were made by Patriot Lithium and Blaze Minerals in the Bear Head Fault district in 2023, highlighting the potential of the district to generate new lithium discoveries.
• Limited Phase 1 prospecting by Beyond Lithium in 2023 uncovered a 10+ meter wide beryl-bearing pegmatite with elevated cesium (21.7 ppm), rubidium (982 ppm), tantalum (42.7 ppm) and a low K/Rb ratio (48) suggesting the possible presence of spodumene-bearing pegmatites nearby. It is worth noting that beryl was discovered in pegmatites at both Ear Falls and Victory prior to the discovery of spodumene-bearing pegmatites.
• Historic government geological mapping shows pegmatites on property which have yet to be prospected, and a historic government geological report documents 200-ft wide tourmaline, muscovite, garnet and pyroxene bearing pegmatites in the vicinity of Margot Lake (only a vague description of its location was provided) which have yet to be rediscovered.

Mavis East Group Projects

• The Mavis East Group Projects are comprised of five projects totalling over 6,500 hectares located in the Mavis Lake District with excellent infrastructures and access.
• The Gullwing-Tot and Webb East Projects are on the same trend that hosts Critical Resources’ Mavis Lake Lithium Project with a Mineral Resource Estimate (MRE) of 8Mt at 1.07% Li2O. The two projects are within less than one kilometer of nearest spodumene-bearing pegmatite.
• Phase 1 prospecting by Beyond Lithium in 2023 was successful at identifying large (10M+) highly evolved pegmatites, with K/Rb ratios as low as 16, K/Cs ratios as low as 207 on Beyond Lithium’s Gullwing-Tot Property. These fractionation ratios are similar to the ratios found at Ear Falls and Victory which yielded new spodumene discoveries in 2023, and suggest the pegmatites on Beyond Lithium’s Dryden East properties are highly evolved and likely genetically related to spodumene-bearing pegmatites found nearby on Critical Resources neighboring properties.

Georgia Lake Group Projects

• The Georgia Lake Group Projects are comprised of three projects totalling 15,941 hectares that are on trend of Tearlach Georgina Stairs Project’s spodumene pegmatite with channel samples up to 4.04% Li2O over 0.70m.
• Numerous beryl-bearing pegmatites were discovered on the Gathering Lake South Project in 2023. K/Rb as low as 47 and K/Cs as low as 153 were obtained from bulk rock pegmatite grab samples and Li2O as high as 0.45% Li2O was obtained from a muscovite grab sample.

Superb Group Projects

• The Superb Lake Group Projects are comprised of the Superb Lake and the Sollas Projects located along the same subprovincal boundary that hosts the Superb Lake Spodumene Pegmatite occurrence and Green Technology Metals’ Seymour Deposit with a global mineral resource estimate of 10.3 Mt @ 1.03% Li2O (Indicated and Inferred) at 0.2% Li2O cut-off.
• These projects represent nearly 15 kilometers of an established 130-kilometer-long trend of LCT pegmatites along the English River-Wabigoon Subprovince Boundary which hosts numerous large, over 15 meter wide, spodumene-bearing pegmatites occurrences.
• The 2023 Exploration Program successfully identified several wide and highly-fractionated pegmatite boulders with grab samples up to K/Rb as low as 63 and K/Cs as low as 415.

Hearst Group Projects

• The Hearst Group of projects consists of the Scholfield and Sydere Projects. Both projects are located in the Quetico Suprovince along the Quetico-Wawa Subprovince boundary. The Scholfield Project adjoins the recently staked Pelletier Property held by Power Metal Corp.
• Phase 1 Prospecting uncovered two new beryl discoveries in large pegmatites with elevated Geochem and K/Rbs as low as 29.5. Beryl mineralization and low K/Rb ratios are indicative of highly evolved pegmatites systems that are prospective for spodumene bearing pegmatites.

The priority list for Beyond Lithium are:

The stock is continuing its downtrend with the breakdown below $0.28. Another support level around $0.20 was broken and the stock is making lower highs and lower lows. The next major support comes at previously record low at $0.10. A close back above $0.20 would be the first step in reversing trends.