Beyond Minerals Increases Land Position Winnipeg, Manitoba--(Newsfile Corp. - February 28, 2023) - Beyond Minerals Inc. (CSE: BY) (OTCQB: BYDMF) (the "Company" or "Beyond Minerals") is pleased to announce the acquisition (the "Transaction") of a 100% undivided interest in the 179 contiguous mining claims covering approximately 3,490 hectares (34.9 km2) comprising the North Trout Lake lithium property located approximately 30 km southwest of Sandy Lake, in the province of Ontario (the "Property").
The Property is located approximately 9.5 km east of the Company's other lithium properties (totaling 2,220 hectares) in the Borland Lake, Favourable Lake, and Gorman River areas of Northwestern Ontario, approximately 37 km north of Frontier Lithium Inc.'s PAK and Spark deposits, and approximately 15 km north of Frontier Lithium's spodumene-bearing pegmatite at Pennock Lake (see Figure 1). The Pak deposit has a mineral resource of measured, indicated, and inferred categories of 9.3Mt (million tonnes), averaging 2.06% Li2O and the Spark deposit has a mineral resource estimate of 14.4Mt, averaging 1.4% Li2O (Frontier Lithium Inc., NI 43-101 Technical Report, PAK Project, PAK, Red Lake Mining District, Ontario, Canada, prepared by BBA with an effective date of April 5, 2021). Frontier Lithium also recently announced a significant expansion of its Pennock Lake pegmatite, with three grab samples grading 1.7%, 1.7% and 3.0% Li2O.
Allan Frame, the new President and CEO of Beyond Minerals commented, "This acquisition is consistent with our disciplined approach of (i) focusing on quality assets for which extensive geological data is available, (ii) maintaining financial discipline with regards to terms and conditions of our acquisition, (iii) concentrating on Ontario assets, while being open to strategic transactions in other jurisdictions and (iv) maintaining a share structure that is favorable to value creation for our shareholders." He added, "Beyond's footprint in the area now totals 5,710 hectares of carefully selected land. We will shortly be putting in place a comprehensive exploration program to begin as soon as practically possible."
Beyond Minerals Increases Land Position near Frontier Lithium's Pak Project (newsfilecorp.com)