Phase 2 Exploration on 11km Prospective Corridor Underway
HIGHLIGHTS
Beyond Lithium discovers new LCT pegmatite intrusive stock - also known as a fertile pluton - at its Cosgrave Lake project.
Named the Allen Graeme (“AG”) Pluton in recognition of those who contributed to the discovery.
Important implications:
Anomalous rare earth elements of the AG Pluton have similarities to other plutons in the Georgia Lake District (the Pine Portage pluton, the MNW pluton, and the Barbara Lake pluton). These three fertile plutons all have well established lithium pegmatites belts association1.
The AG Pluton is over 266 hectares in size which is comparable to the Pine Portage and the MNW plutons located in the Georgia Lake District.
Results from channel samples of two beryl pegmatites at the AG Pluton show (i) comparable geochemical values to other known fertile plutons, (ii) have similar Cs, Li, and Be values to those of the Tanco fertile pluton located at Bernie Lake, Manitoba2 and (iii) are elevated compared to the Glacier Lake batholith.
The size of the AG Pluton directly implies that it generated large amounts of concentrated fluids and volatiles and is the source of lithium and rare earth minerals in lithium pegmatite formations in the vicinity.
Cosgrave Lake project expanded through staking from 7,388 ha to 9,424 ha.
Phase 2 exploration program at Cosgrave currently underway. Focused on main NE and SW corridor that spans 11km of prospective ground around the AG Pluton.
Winnipeg, Manitoba--(Newsfile Corp. - August 1, 2023) - Beyond Lithium Inc. (CSE: BY) (OTCQB: BYDMF) (the "Company" or "Beyond Lithium") is pleased to announce the discovery of a new LCT pegmatite intrusive stock - also known as a fertile pluton - at its Cosgrave Lake project. The new discovery was named the Allan Graeme ("AG") Pluton in recognition of those individuals who played a significant role in its discovery. The Cosgrave Lake project was one of the earlier projects being prospected as part of Beyond Lithium's Phase 1 program. The discovery of the AG Pluton at the Cosgrave Lake project unlocks tremendous lithium exploration opportunities for Beyond Lithium.
Mr. Frame, President and CEO of Beyond Lithium, commented: "This discovery shares similarities with three significant lithium discoveries in the Georgia Lake District, namely the MNW pluton, the Barbara Lake pluton, and the Pine Portage pluton. These well-known fertile plutons in the district are associated with prolific lithium pegmatite belts. The AG Pluton at Cosgrave Lake therefore presents a significant opportunity for Beyond Lithium. The size and geochemical characteristics of the AG Pluton indicate its potential as a source of concentrated fluids, volatiles, lithium, and rare earth minerals, making it an exceptionally promising area for further exploration."
The Georgia Lake District illustrated in Figure 1 is the host of several well-known fertile plutons namely the MNW pluton, the Barbara Lake pluton, and the Pine Portage pluton. These well-established fertile plutons in the Georgia Lake district are associated with several prolific lithium pegmatite belts including the Imagine Lithium MNW, as well as the Georgia Lake belts and Rock Tech Lithium lithium belt.
Figure 1: Map of AG Pluton and its Associated Pegmatite Zone (#5) in Relation to Other Fertile Plutons and their Associated Pegmatite Groups1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8620/175631_82c19fc9b42ed9a8_004full.jpg
"Beyond Lithium's technical team relied on field observations, assay results and other data to make this important new discovery," said Lawrence Tsang, Beyond Lithium VP of Exploration. "During a recent site visit with Technical Advisor and Sr. Geologist Graeme Evans, and Sr. Field Geologist Paul Baxter, we recognized that a distinctive beryl pegmatitic zone with an irregular and lobate contact to the Glacier Lake batholith located in the western part of the Cosgrave Lake project was essentially a complex and zoned pegmatitic fertile centre. These very coarse grained complex zoned muscovite and K-feldspar rich pegmatites contain beryl, alluaudite, fluorapatite and other good indicators like cordierite as the feeders for the potential of lithium pegmatites formation from the centre. These minerals demonstrate the exsolution of pegmatites forming melts from the parental pluton."
The AG Pluton covers an area of over 266 hectares, which is comparable in size to the MNW pluton (351 ha) and the Pine Portage pluton (311 ha). The analogous size of the AG Pluton to other fertile plutons strongly suggests that the AG Pluton has generated substantial amounts of concentrated fluids and volatiles, serving as the source of lithium and rare earth minerals in lithium pegmatite formations in the vicinity.
Figure 2: Beyond Lithium Geological Map of the Cosgrave Lake Project Outlining the 11 km Main NE-SW Trend Conformable to the Sediment Contact
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8620/175631_82c19fc9b42ed9a8_005full.jpg
During the Phase 1 exploration program completed last month at the property, two beryl bearing pegmatites at the AG Pluton site were found and channel sampled for a total of 14 one-meter-wide samples.
"The channel sample results, and the AG Pluton's values are typical of the other fertile pluton located in the Georgia Lake District and are elevated compared to the Glacier Lake batholith," said Lawrence Tsang. He added, "The assay results also show that these channel samples are relatively anomalous even though located within the fertile pluton. Worthy of note is that the results are quite similar to the concentration in the Tanco granite pluton located at Bernie Lake, Manitoba2 (Figure 3)."
Table 1: Comparison Values Between AG Pluton and Other Fertile Plutons1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8620/175631_82c19fc9b42ed9a8_006full.jpg
Figure 3: Chemical Fraction from Source to Pegmatite of the Tanco pegmatite deposit2
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8620/175631_82c19fc9b42ed9a8_007full.jpg
Allan Frame: "Following this important discovery at the Cosgrave Lake project, in order to secure the entire area, we expanded our footprint by 2,036 hectares through additional staking. With this expansion of the Cosgrave Lake project on the west side of the original property, we currently have an area of 9,424 hectares exploration with an 11 km prospective corridor along the NE and SW trend." He added: "Beyond Lithium's Sr. Field Geologist, Paul Baxter, is currently leading our team that is focused on detailed mapping and grid sampling around the AG Pluton."
The 11 km prospective corridor trends conformably to the sediments contact in the area mapped out by Paul Baxter (Figure 2). The main objectives of the Phase 2 exploration program at Cosgrave Lake project are:
- To define the limits of the new AG Pluton;
- To do step out and cross section traverse to outline the higher density of pegmatite trends;
- To utilize the LIBS analyzer to provide the field crew with instantaneous field data to locate the "hotter" or higher LIBS's Li, Cs, Ta, lower K/RB values to find the spodumene productive zone.
Figure 4: Cosgrave Lake Project Phase 1 Li (ppm) and K/Rb ratio Around the AG Pluton and the Channel Samples Location
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8620/175631_82c19fc9b42ed9a8_008full.jpg
Table 2: Cosgrave Lake Channel Samples of 2 Beryl Pegmatites from Phase 1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8620/175631_82c19fc9b42ed9a8_009full.jpg
A total of 74 samples were collected as part of Phase 1 prospecting field program at Cosgrave Lake with the results shown in Table 2. Lawrence Tsang commented: "There is plenty of exploration potential to follow up especially around low K/Rb areas and elevated Li anomalies delineated in the NE part of the project (Figure 4)."
Mr. Tsang concluded: "The anomalous values of Li/Cs/Ta published today when combined with the visual observations during our recent site visit allow us to connect the different pieces of data together and correlate the Cosgrave Lake project's geological model with the classic petrogenesis model of LCT pegmatites. This model provides a fundamental trend for the field crew to continue exploring for the spodumene productive zone at the Cosgrave Lake project."
Figure 5: Classic Petrogenesis Model of LCT Pegmatites in Relation to the Cosgrave Geological Model3
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8620/175631_82c19fc9b42ed9a8_010full.jpg
Videos describing the AG Pluton discovery:
Sr. Geologist Graeme Evans describes the new LCT pegmatite intrusive stock discovery
Sources:
1 Tindle, A.G., Breaks, F.W. and Selway, J.B. 2008. Electron microprobe and bulk rock and mineral compositions from S-type, peraluminous granitic rocks and rare-element pegmatites, Georgia Lake pegmatite field, Quetico Subprovince, north-central Superior Province of Ontario; Ontario Geological Survey, Miscellaneous Release-Data 231.
2 London, D., 2016, Rare-Element Granitic Pegmatites, chap. 8 of Verplanck, P.L., & Hitzman, M.W., eds., Rare Earth and Critical Elements in Ore Deposits: Reviews in Economic Geology,18,pp.165-193.
3 P. Černý, Rare element granitic pegmatites. Part II: Regional and global environments and petrogenesis. Geosci. Can., 18 (1991), pp. 68-81.
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.sedarplus.ca.
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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/175631