Beyond Lithium (CSE: BY) is reporting the discovery a new spodumene-bearing pegmatite zone at its Ear Falls Project in northwestern Ontario.
The discovery was reported following grab samples that were collected at the zone, which assayed up to 4.54% Li2O. The zone is said to have a prospective trend up to three kilometres in length, based on a fractionated sample identified two kilometres to the north east.
A total of 205 pegmatite outcrops were mapped at the project, with 68 samples collected to date, of which 48 have received assays. Four of those samples were said to have Li2O values ranging from 0.76% to 4.54%.
“This spodumene discovery is significant as it occurs within a 13-km-long metasedimentary-granite structural corridor where there’s opportunity for more discoveries as we ramp up exploration. We are targeting subparallel spodumene pegmatite dykes along the main metasedimentary-batholith structure and the major regional fault,” commented Lawrence Tsang, VP of Exploration at Beyond Lithium.
The discovery lead the company to acquire additional claims adjacent to the project, expanding the Ear Fall property by 17,233 hectares to a total of 20,623 hectares. The additional claims were acquired for roughly $137,000 in cash, as well as the issuance of 300,000 shares.
Exploration at the project is said to be ongoing, while exploration plans that include stripping and drilling have reportedly been submitted to the Ministry of Mines in Ontario. The program is slated to begin in October, although further details were not provided.
Beyond Lithium last traded at $0.39 on the CSE.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
