Phase 2 Exploration Set To Begin As Planned In Early August
HIGHLIGHTS
- The Phase 1 exploration program has been completed on 39 of Beyond Lithium’s 64 properties, covering an area of more than 107,000 hectares.
- Over 700 grab and channel samples have been collected and submitted to the lab for analysis.
- Over 160 mineral samples of muscovite or feldspar from different properties have been collected for LIBS (Laser Induced Breakdown Spectroscopy) analysis.
- LIBS vectoring results of Beryl pegmatites at the Cosgrave Lake property demonstrated a similar Lithium (Li), Cesium (Cs), and Rubidium (Rb) intensity footprints to the nearby Swanson Beryl mineral occurrence. The Swanson beryl pegmatite is located 1.8 km north of the Cosgrave Lake property and 1.2 km southwest of a Li bearing spodumene pegmatite recorded as the Mnw mineral occurrence(3).
- Ten properties are moving to Phase 2 exploration in early August.
- Preliminary results received from the LiDAR survey completed at the Wisa property. The final report is expected to be available soon.
- The Phase 1 program on three properties (11,818 ha) in the Case Lake District and eight properties (12,107 ha) in the McKenzie Bay District have been delayed due to Ontario wildfire access restriction.
- A total of 14 properties (15,645 ha) in the Pak & Spark, Lilly Pad Lake, and Eastern English Districts have been rescheduled from the shortage of helicopter availability due to Ontario wildfires.
- Properties impacted by the forest fire restrictions will see resumption of Phase 1 programs as soon as those districts reopen.
Winnipeg, Manitoba, July 19, 2023 – Beyond Lithium Inc. (the “Company” or “Beyond Lithium”) (CSE:BY) (OTCQB: BYDMF) is pleased to provide an update on the Phase 1 exploration program and to announce its plans to initiate the Phase 2 exploration program on ten different properties in early August.
“In two short months, we were able to complete Phase 1 exploration on a total of 39 properties covering an area of more than 107,000 hectares,” said Allan Frame, President and CEO of Beyond Lithium. “Our four field teams supervised by Beyond Lithium’s Senior Geologist, Paul Baxter, collected more than 700 grab and channel samples and over 160 mineral samples of muscovite or feldspar from different properties for lab and LIBS analysis. Results warrant moving to Phase 2 exploration on ten of the 39 properties explored to date.”
Mr. Frame added: “More properties will be included in the Phase 2 exploration program as assays from the lab become available. This next phase will include detailed mapping to determine the length and the density of pegmatites identified on our properties and systematic trenching and channel sampling of pegmatites in tightened exploration target area delineated by analytical assays and LIBS analysis.”
Lawrence Tsang, VP Exploration of Beyond Lithium, also commented: “A limited number of assays have been received and more results are expected to be available in about a week. The rest of the assays will become available roughly every one to two weeks. Samples submitted to the lab in Ontario usually have a four-to-six-week turnaround time, although we are seeing some assays results taking longer given the current level of exploration being conducted throughout Ontario. We will publish the complete assay results from a particular property when all the results for that property are received from the lab.”
Overview of Phase 2 Program
The Phase 2 exploration program is expected to begin in early August as planned and will include more detailed mapping, trenching and sampling on selected properties with tightened exploration target areas delineated from analytical results and LIBS vectoring. Based on an initial evaluation, Phase 2 properties will include (Figure 2):
- Cosgrave Lake (7,388 ha) which has two identified beryl bearing pegmatites with similar footprint to nearby Swanson’s beryl and Mnw spodumene mineral occurrences(3).
- Ogani Lake (1,427 ha) properties with identified beryl bearing pegmatites.
- Webb (3,580 ha) (West and East) and Gullwing-Tot (645 ha) properties that are along trend of Green Technology Metals’ Gullwing-Tot Lake Property (ASX: GT1)4 with 8 km of LCT pegmatites clusters.
- McKenzie Bay (6,186 ha) and Gathering Lake (6,948 ha) properties (South, West and East) with relatively higher LIBS analyzed of Li.
- MacDowell Lake (4,137 ha) property that is along trend of and has similar airborne geophysical magnetic anomalies by Ontario Geological Survey5 to Frontier Lithium’s (TSXV: FL) Pak & Spark deposits.
More properties are expected to be included in the Phase 2 program as more assays become available from the lab. Beyond Lithium’s 2023 exploration program is still on schedule and within budget and will include a small drill program near the end of the season.
Figure 1 Beyond Lithium Properties Phase 1 Program Update Map
Figure 2 Beyond Lithium Phase 2 Program Based on Initial Assessment
The Importance of a LIBS Analyzer
Beyond Lithium’s exploration team have made extensive use of a LIBS analyzer, taking thousands of onsite readings which are being compiled in a comprehensive database. A LIBS analyzer is a handheld sample analyzing device used to measure elemental concentrations in material1 which takes a few minutes in the field to collect the data. The analysis of the over 160 mineral samples of muscovite or feldspar will help develop relativity plots of different elements and ratios like lithium (Li), caesium (Cs), tantalum (Ta), and potassium/rubidium (K/RB) to vector and prioritize exploration targets for the Phase 2 program.
The objective of the LIBS database is to provide an additional layer of relative values of Li, Cs, Ta, K/Rb from muscovite or feldspar to augment results from mapping and assaying for establishing and vectoring Li trends and targets.
Cosgrave Lake Property
The Cosgrave Lake property encompasses 7,388 ha in area and is located 125 NE of the city of Thunder Bay that can be accessed via highway and logging roads. The Cosgrave Lake property is adjacent to the Jackpot lithium project of Imagine Lithium (TSXV: ILI) that has a historical resource of 2 million tonnes at 1.09% Li2O2.
Figure 3 Large Beryl Crystal Outlined in Yellow from Cosgrave Lake Property’s Pegmatite
Phase 1 program has led to the discovery of two beryl pegmatite dykes with beryl crystal noted up to 25cm wide in diameter which have been mapped and sampled on the western side of the Cosgrave Lake property circled in yellow in Figures 3 and 4. These beryl pegmatite dykes generally strike in a north-south direction, but local cross cutting pegmatites were observed showing different generations of pegmatites hosted in both granite and metasedimentary host rocks. The presence of pegmatites striking in different orientations shows the abundance of pegmatite potential in the area and geologically shows a good structural zone for pegmatite formation.
Figure 4 Cosgrave Lake Property Geological Map with 2023 Field Mineralogy of Pegmatite in Relation to the Swanson Beryl
and the Mnw Spodumene Pegmatites Showings
Based on Rennick’s Exploration Work 2009’s report3, the Swanson mineral occurrence with a mapped beryl pegmatite dyke is located just 1.8 km north of the Cosgrave Lake property. Five grab samples were collected from the Swanson pegmatite with elevated Li, Cs, and Rb towards the Mnw’s showing which is about 1.2 km northwest from the Swanson showing. The Mnw mineral occurrence is a spodumene bearing pegmatite with up to 5.85% Li2O from a grab sample3. The Swanson and the Mnw mineral occurrences are circled in red in Figure 4.
On Beyond Lithium’s Cosgrave Lake property, two beryl pegmatites were discovered and sampled and analyzed by LIBS analyzer. The LIBS results of the two beryl pegmatites at the Cosgrave Lake property showed an elevated Li, Cs, and Rb footprint that resembles the Swanson pegmatite (Figures 5 to 7). Complete assay results will be published by Beyond Lithium once all results are received from the lab.
Lawrence Tsang, VP Exploration of Beyond Lithium, commented: “It is exciting to see the Cosgrave Lake property having a similar footprint as the Swanson and Mnw mineral occurrences where a Li spodumene bearing pegmatite is located just less than 2 km NW of the beryl occurrence. We have identified two beryl bearing pegmatites on our Cosgrave Lake property which are both to the north and to the south of the beryl pegmatites and are still open for over 3km in strike length to prospect for the potential Li bearing zone. Our crews are looking forward to getting back to Cosgrave Lake property in early to mid August to follow up on these beryl pegmatites.” Mr. Tsang continues, “Based on the similar footprint between the Cosgrave Lake’s beryl pegmatites and the Swanson beryl pegmatite, a Phase 2 program is planned on the Cosgrave Lake property in August. The purpose of this program is to follow up on the beryl pegmatites to explore for the potential Li bearing core zone to the north and south of the beryl pegmatites.”
Figure 5 Cosgrave Lake Property 2023 Mineralogy Map with LIBS Rb Intensity Plot
Figure 6 Cosgrave Lake Property 2023 Mineralogy Map with LIBS Cs Intensity Plot
Figure 7 Cosgrave Lake Property 2023 Mineralogy Map with LIBS Li Intensity Plot
Wisa Lake LiDAR Survey
The LiDAR survey on the Wisa Lake property was completed by Eagle Mapping last month (Figure 8). The Wisa Lake property is comprised a total area of 6,549 hectares and is located next to the Green Technology Metals’ (ASX: GT1) Wisa Property. As the topography of the area is generally flat, a subtle change to elevation high may indicate pegmatite outcrops or features worthwhile to prospect. A preliminary result form the LiDAR survey has been provided by Eagle Mapping. A preliminary assessment has been started to access any indication of prospective outcrops for the Phase 2 program.
Figure 8 Wisa Lake Property and LiDAR Surveyed Area in Red
Forest Fires Update
Due to forest fires in various districts, a total of 14 properties (15,645 ha) in the Pak & Spark, Lilly Pad Lake, and Eastern English Districts have been rescheduled due to a shortage of helicopters. Exploration at three properties (11,818 ha) which are contiguous to Power Metals’ Case Lake lithium property (TSXV: PWM) in the Case Lake District and eight properties (12,107 ha) in the McKenzie Bay District has been delayed due to access restriction. The Phase 1 program will resume on these affected properties as the districts reopen later in the season.
Notes:
1See Sci Aps LIBS Analyzers
2See Imagine Lithium (TSXV: ILI) Jackpot Property
3Rock Tech Resources Inc. James Bay Midarctic Development Inc. Report on Exploration Work 2009, Georgia Lake Lithium and Rare-Earths Project, by Melville William Rennick, 2010.
4See Green Technology Metals (ASX: GT1) May 18 2023 Press Release
5Ontario Geological Survey, Ontario Airborne Geophysical Surveys Magnetic Supergrids, 2017, Red Lake.
Quality Assurance/Quality Control
All collected rock samples were put in sturdy plastic bags, tagged, and sealed at site. Sample bags were then put in rice bags and kept securely before being sent by road transport or delivered by the crew supervisor to SGS’s preparation facility in Red Lake or Sudbury, Ontario, for sample preparation. Pulps are analyzed at the SGS facility in Burnaby, BC. All samples are analyzed with Four-Acid Digestion/Combined ICP-AES/MS package (49 elements). The QA/QC protocol included the insertion and monitoring of appropriate reference materials, in this case high concentration and low concentration certified OREAS and CDN lithium standards to validate the accuracy and precision of the assay results.
Qualified Person and Third-Party Data
The scientific and technical information in this news release has been reviewed and approved by Lawrence Tsang, P.Geo., VP Exploration of the Company. Lawrence Tsang is a “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Beyond Lithium Inc.
Beyond Lithium Inc. is the largest greenfield lithium exploration player in Ontario with 64 high potential greenfield lithium properties totalling over 150,000 hectares. The Company has adopted the project generator business model to maximize funds available for exploration projects, while minimizing shareholder dilution. Beyond Lithium is advancing certain of its projects with its exploration team and will seek to option other properties to joint venture partners. Partnering on various projects will provide a source of non-dilutive working capital, partner-funded exploration, and long-term residual exposure to exploration success.
Beyond Lithium currently has 28,259,658 common shares outstanding.
Please follow @BeyondLithium on Twitter, Facebook, LinkedIn, Instagram and YouTube.
For more information, please refer to the Company’s website at www.beyondLithium.ca
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company’s projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company’s projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking information. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward-looking information can be identified by words such as “pro forma”, “plans”, “expects”, “will”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In stating the forward-looking information in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Company’s properties, the availability of financing on suitable terms, and the Company’s ability to comply with environmental, health and safety laws.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the statements of forward-looking information. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, the proposed expenditures for exploration work on its properties, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, risks relating to epidemics or pandemics such as COVID-19, the Company’s limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading “Risk Factors” in the Company’s prospectus dated February 23, 2022 and other filings of the Company with the Canadian securities regulatory authorities, copies of which can be found under the Company’s profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update any of the forward-looking information in this news release except as otherwise required by law.
For further information, please contact:
Allan Frame
President and CEO
Tel: 403-470-8450
Email: allan.frame@beyondLithium.ca
Jason Frame
Manager of Communications
Tel: 587-225-2599
Email: jason.frame@beyondLithium.ca