HIGHLIGHTS
Management and technical teams including Allan Frame, President and CEO, Lawrence Tsang, VP Exploration, Graeme Evans, Technical Advisor, Paul Baxter, Senior Geologist, Alain Lambert, Cofounder and Courtney James, IR Associate, visited and reviewed several of the Company’s properties in the Dryden-Mavis Lake and the McKenzie Bay Districts last week.
Beyond’s technical team recognized zoned pegmatites where beryl is generally mineralized around larger quartz crystal and some pegmatites have wider and stronger alteration halos along contacts of metasediments.
Four field crews are currently prospecting and collecting grab and channel samples from multiple project and collecting muscovite samples from different pegmatites for the Laser Induced Breakdown Spectroscopy (“LIBS”) analyzer database compilation.
The LIBS analyzer database will provide an additional layer of information by relative values of Lithium (Li), Cesium (Cs), Tantalum (Ta), Potassium/Rubidium (K/Rb) from muscovite along with mapping and assays for establishing and vectoring Li trends and targets.
A LiDAR survey has been conducted on the Wisa Lake project (6,549 hectares) and the final survey report is expected to be available in about 3-4 weeks.
Over 400 grab and channel samples have been submitted to the lab for analysis with the first batch of assays is estimated to be available by the first week of July.
The Phase 1 exploration program is expected to continue until early August. Upon receipt of assays, properties will be individually evaluated and prioritized in advance of Phase 2 exploration commencing in early August.
Winnipeg, Manitoba--(Newsfile Corp. - June 26, 2023) - Beyond Lithium Inc. (CSE: BY) (OTCQB: BYDMF) (the "Company" or "Beyond Lithium") is pleased to provide an update on the field visit and review completed by the Company's management and technical teams last week at Beyond's properties in the Dryden-Mavis Lake and the McKenzie Bay Districts. Participants of the visit included Graeme Evans, Technical Advisor, and Paul Baxter, Senior Geologist whose combined exploration experience spans over 70 years.
Figure 1: Technical team inspecting a beryl bearing pegmatite.
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Overall, access to the properties in both the Dryden-Mavis Lake and the McKenzie Bay Districts are excellent, with highway and well-maintained logging road infrastructure. Nearby towns like Dryden, Ear Falls, and Red Lake provide convenient accommodations and access to field supplies.
In the Dryden-Mavis Lake District, Beyond Lithium has six properties totalling 11,664 hectares in area (Fig. 2) located next to Critical Resources' Mavis Lake Lithium deposit. In the McKenzie Bay District, Beyond Lithium has twelve properties totalling 24,959 hectares in area (Fig. 2) located near Green Technology Metals' McCombe Lithium deposit.
Figure 2: Beyond Lithium Properties Map in the Dryden-Mavis Lake and the McKenzie Bay Districts
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During the site visit, the technical team recognized zoned pegmatites where beryl generally mineralized around larger quartz crystal were noted in several sites (Fig. 2). Also, some pegmatites have wider and stronger alteration halos along contacts of metasediments. These field observations could help field crews identify and distinguish the more prospective pegmatites from the other pegmatites.
Lawrence Tsang, VP Exploration of Beyond Lithium, commented: "I would like to applaud the field crews hard work to continue with the Phase 1 exploration program on time and on budget and have located beryl-bearing pegmatites in several properties. These beryl-bearing pegmatites indicate these pegmatites are fractionated from a fertile and peraluminous granitic source and show that our exploration method has been productive so far. We will follow up these beryl-bearing pegmatites with more field work and aim to locate the Lithium-bearing core zone."
Figure 3: Example of Zoned Pegmatite with Beryl in Yellow Mineralized Around Larger Quartz in White crystal
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Over 400 grab and channel samples have been collected from multiple properties and submitted to the lab for analysis. The first batch of assays is estimated to be available by the end of June.
In addition to collecting outcrop grab and channel samples, field crews also collected samples of muscovite from different pegmatites for compiling a LIBS analyzer database. The LIBS analyzer1 is a handheld device used to measure elemental concentrations in a material (Fig. 4). The objective of the LIBS database is to provide an extra layer of relative values of Li, Cs, Ta, K/Rb from muscovite to augment results from mapping and assaying for establishing and vectoring Li trends and targets.
Figure 4: Senior Prospector Jason Leblanc utilizing the LIBS analyzer.
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The LiDAR survey on the Wisa Lake property has just been conducted by Eagle Mapping. The Wisa Lake property is comprised a total area of 6,549 hectares and is located next to the Green Technology Metals' Wisa Property. The LiDAR survey will provide a detailed digital elevation model (DEM) of the area which is a useful exploration tool for identifying potential outcrop and structure on the property. LiDAR is a remote sensing method that is utilized to create digital terrain (DTM) and DEM of the landscape. As the topography of the area is generally flat, a subtle change to elevation high may indicate pegmatite outcrops or features worthwhile to prospect. The final report of the LiDAR survey of the Wisa Lake property is expected to be finished in the next 3-4 weeks.
The Phase 1 exploration program is still on schedule and within budget and expected to be completed by early August. Upon receipt of assays, properties will be evaluated in advance of the Phase 2 program of more detailed mapping and sampling commences on prioritized properties.
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 (market cap of $6.2 million as of June 15, 2023).
1 See Imagine Lithium's Jackpot Lithium Project.
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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:
Alan 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
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