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Beyond Minerals Inc. (CSE: BY) (OTCQB: BYDMF) (the "Company" or "Beyond Minerals") is pleased to announce that the Company has entered into a master services agreement with each of Bounty Gold Corp. ("Bounty Gold") and Last Resort Resources Ltd. ("Last Resort"), two leading prospecting companies in grassroots lithium exploration in the province of Ontario.
The Company will work directly with Bounty Gold and Last Resort to advance the properties through an assessment of currently available data and grassroots exploration field work to be carried out on the properties starting next month. The project teams at Bounty Gold and Last Resort are familiar with the geology of the various properties, having performed extensive analysis of government recommendations, historical geological reports and boots-on-the-ground reconnaissance work guided by data-driven techniques for the discovery of lithium, cesium, tantalum ("LCT") pegmatites within the province of Ontario.
"These agreements mean that Beyond will be able to deploy exploration teams on its properties as soon as the conditions on the ground permit. Planning and budgeting of 2023 field work is currently underway. Initially the focus will be on conducting a "first pass" grassroots prospecting exploration program on each property. This phase of exploration will involve conducting traverses to identify and document the characteristics of all exposed pegmatites encountered, and collect samples for geochemical analysis," commented Allan Frame, President and CEO. "The currently compiled information on our properties, and other available data, forms the basis for the development of our exploration plan aimed at establishing a mineral resource estimate at one or more of the properties."
As part of the current planning phase, geological maps, government reports, historic assessment work reports and satellite imagery have been used to identify outcrop exposure and the location of known pegmatites. This data is being used to plan traverses on each property which will maximize the number of outcrops and pegmatites visited by Beyond Minerals' consulting prospectors and geologists. The first phase of exploration is intended to identify the most fractioned/evolved pegmatites on each property and identify relevant geochemical trends. This will lead to a second phase of prospecting that will be more focused on those areas showing the highest potential for discovery, and will include activities intended to identify and de-risk diamond drill targets.
Jason Leblanc, President of Bounty Gold Corp. commented: "We conducted preliminary 'first pass' prospecting on a number of the Beyond properties in 2022, recording the location, photographing and documenting the minerology and characteristics (size/orientation) of pegmatites we found. We discovered several new rare-element pegmatites in the process, validating the staking methodology that we used to assemble our overall portfolio of properties. This next phase of exploration will serve to advance the Beyond projects forward and deliver further exploration success."
The possibility of making new rare-element discoveries, including spodumene-bearing pegmatites, exists with all phases of exploration including the initial grassroots prospecting program. The effectiveness of the Beyond exploration program will be enhanced through the use of a portable LIBS analyzer that will allow real-time, semi-quantitative geochemical analysis of pegmatites to enhance on-the-spot decision-making by field teams.
Mr. Leblanc concluded: "Beyond Minerals' field teams are eager to commence exploration field work. Initial reconnaissance work to confirm snow conditions and verify road accessibility will commence next week. Snow cover is currently estimated at 75% snow cover-25% exposed in forested areas, and 25% snow cover-75% exposed in open areas (clearcuts). Given the current rate of spring thaw, it is anticipated that the full grassroots prospecting program will commence on or about May 1st."
The Company recently became the largest greenfield lithium exploration player in Ontario by optioning 57 high potential greenfield lithium properties totalling 125,751 hectares and acquiring through staking three properties totalling 9,104 hectares, bringing its total lithium property portfolio in Ontario to 66 properties covering 147,975 hectares.
About Beyond Minerals Inc.
Beyond Minerals Inc. is the largest greenfield lithium exploration player in Ontario with 66 high potential greenfield lithium properties totalling almost 150,000 hectares. The Company has adopted the project generator business model to maximize funds available for exploration projects, while minimizing shareholder dilution. Beyond Minerals 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.
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For more information, please refer to the Company's website at www.beyondminerals.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@beyondminerals.ca
Jason Frame
Manager of Communications
Tel: 587-225-2599
Email: jason.frame@beyondminerals.ca
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/162594
