Amendments to Ukraine Transaction | INN

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  • Outline and broaden the recognized spodumene-bearing pegmatites zones, such because the Final Resort and the Bounty Gold Pegmatites on the Victory Challenge and the Wenasaga North Zone on the Ear Falls Challenge.
  • Drill check the totally different potential areas alongside the exploration corridors to proceed to exhibit the continuity, the scale, and the potential of each tasks.

The stripping program is designed to show extra pegmatites for sampling and mapping and in addition determine and prioritize drill targets.

As beforehand introduced, greater than 240 drill core samples from Ear Falls, 25 channel samples from Victory and over 120 seize samples from totally different tasks are nonetheless pending within the lab. Past Lithium anticipates the outcomes of those samples to change into obtainable over the following few weeks. As soon as all outcomes are obtained, Past Lithium will full an total technical evaluate of all of the tasks and can finalize and announce a complete exploration plan for 2024.

“Within the final six months, we’ve got explored 50 of our 63 tasks (79.4%), superior 18 tasks to Section 2 exploration and have ten extra extremely potential tasks to start out exploring in 2024. We additionally made three important discoveries, together with two spodumene discoveries which at the moment are transferring to the drilling stage,” stated Allan Body CEO of Past Lithium.

He added: “Most of our tasks are near glorious infrastructure with nice entry situated throughout Ontario which permits us to have longer discipline season for exploration to offer regular information circulate for our shareholders. We look ahead to sharing the assay outcomes from the greater than 385 samples nonetheless within the lab as we obtain and analyze them.”

Victory Spodumene Challenge

The Victory Challenge is comprised of the Victory Fundamental (7,874 ha) and the Victory West (8,808 ha) Tasks totaling 16,682 hectares in an space situated within the Drugs Lake space close to the cities of Vermilion Bay, Dryden and the town of Kenora. The Victory Challenge at present contains two spodumene-bearing pegmatites, the Bounty Gold Pegmatite and the Final Resort Pegmatite. These two spodumene-bearing pegmatites are 40 to 50 m large and over 200-300 m uncovered alongside strike on floor (Determine 1). The Victory Challenge has:

  • Substantial width and measurement for the spodumene-bearing pegmatites.
  • As much as 5.11% Li2O on the Final Resort Pegmatite and as much as 3.48% Li2O on the Bounty Gold Pegmatite from spodumene-bearing pegmatite seize samples.
  • District scale synergy with the Ear Falls Spodumene Challenge and the Mavis Lake Group Tasks (Satellite tv for pc, Laval, Gullwing-tot, Webb East, Webb West, Temple Bay, Ogani Lake, and McKenzie Bay) as they’re inside 100 km of one another and three regionally important lithium deposits (Determine 3).
  • A 6-kilometer-long structural managed exploration pattern between the Bounty Gold and the Final Resort Pegmatites for exploration.

Determine 1 Victory Challenge Map

Ear Falls Spodumene Challenge

The Ear Falls Challenge (20,623 ha), beforehand known as the Wenasaga Challenge, is situated proper exterior the city of Ear Falls, Ontario. Ear Falls has glorious infrastructure together with freeway and logging highway entry, energy traces, providers, and native labor (Determine 2). Within the 2023 exploration program at Ear Falls, Past Lithium:

  • Found the Wenasaga North Zone, a spodumene-bearing pegmatites zone, with seize samples as much as 4.54% Li2O.
  • Found the Sandy Creek West Zone alongside a 100m large ridge with seize samples from pegmatites outcrops assayed as much as 0.4% Li2O.
  • Reported that seize samples from the Sandy Creek West Zone are as extremely fractionated because the spodumene samples collected from the Wenasaga North Zone.
  • Confirmed a 13 kilometers lengthy exploration structural managed hall with lithium mineralization.
  • Delineated steady higher-grade lithium zone enveloped by wider intervals by way of stripping and channel sampling.
  • Accomplished an preliminary 7 holes drilling program that intercepted new subparallel pegmatite dyke at depth that was not uncovered on floor beforehand.

Determine 2 Ear Falls Challenge Map

Determine 3 Regional map displaying location of Past Lithium tasks relative to different important close by deposits.

Alain Lambert, Co-Founder and Capital Markets Advisor commented: “Past Lithium has achieved a lot success in 2023. Beginning 2024 with important drilling packages at Victory and Ear Falls marks an necessary milestone for our firm. I’m additionally happy with the progress we proceed to make on the company entrance with our venture generator enterprise mannequin. We stay dedicated to the identical disciplined strategy in our deal-making actions which has paid off on the exploration entrance. We’ll do issues on our personal timetable and solely do offers that enhance shareholder worth.”

Certified Particular person and Third-Social gathering Information

The scientific and technical data on this information launch has been reviewed and authorized by Lawrence Tsang, P.Geo., VP Exploration of the Firm. Lawrence Tsang is a “certified individual” as outlined in Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks.

About Past Lithium Inc.

Past Lithium Inc. is the most important greenfield lithium exploration participant in Ontario with 63 excessive potential greenfield lithium properties totalling over 195,000 hectares. The Firm has adopted the venture generator enterprise mannequin to maximise funds obtainable for exploration tasks, whereas minimizing shareholder dilution. Past Lithium is advancing sure of its tasks with its exploration workforce and can search to possibility different properties to three way partnership companions. Partnering on varied tasks will present a supply of non-dilutive working capital, partner-funded exploration, and long-term residual publicity to exploration success.

Past Lithium at present has 33,874,482 frequent shares excellent.

Please comply with @BeyondLithium on Twitter, Fb, LinkedIn, Instagram and YouTube.

For extra data, please discuss with the Firm’s web site at www.beyondLithium.ca

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This information launch contains sure “forward-looking data” inside the which means of relevant Canadian securities laws. All statements, aside from statements of historic truth, included herein together with, with out limitation, statements relating to future capital expenditures, anticipated content material, graduation, and value of exploration packages in respect of the Firm’s tasks and mineral properties, anticipated exploration program outcomes from exploration actions, sources and/or reserves on the Firm’s tasks and mineral properties, and the anticipated enterprise plans and timing of future actions of the Firm, are forward-looking data. Though the Firm believes that such statements are cheap, it may give no assurance that such expectations will show to be right. Typically, however not at all times, forward-looking data may be recognized by phrases reminiscent of “professional forma”, “plans”, “expects”, “will”, “might”, “ought to”, “funds”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such phrases together with damaging variations thereof, and phrases that discuss with sure actions, occasions or outcomes that will, might, would, may or will happen or be taken or achieved. In stating the forward-looking data on this information launch, the Firm has utilized a number of materials assumptions, together with with out limitation, that market fundamentals will end in sustained valuable and base metals demand and costs, the receipt of any essential permits, licenses and regulatory approvals in reference to the long run exploration of the Firm’s properties, the supply of financing on appropriate phrases, and the Firm’s skill to adjust to environmental, well being and security legal guidelines.

Ahead-looking data includes identified and unknown dangers, uncertainties and different elements which can trigger the precise outcomes, efficiency or achievements of the Firm to vary materially from any future outcomes, efficiency or achievements expressed or implied by the statements of forward-looking data. Such dangers and different elements embrace, amongst others, statements as to the anticipated enterprise plans and timing of future actions of the Firm, the proposed expenditures for exploration work on its properties, the flexibility of the Firm to acquire ample financing to fund its enterprise actions and plans, delays in acquiring governmental and regulatory approvals (together with of the Canadian Securities Change), permits or financing, modifications in legal guidelines, rules and insurance policies affecting mining operations, dangers regarding epidemics or pandemics reminiscent of COVID-19, the Firm’s restricted working historical past, foreign money fluctuations, title disputes or claims, environmental points and liabilities, in addition to these elements mentioned underneath the heading “Danger Elements” within the Firm’s prospectus dated February 23, 2022 and different filings of the Firm with the Canadian securities regulatory authorities, copies of which may be discovered underneath the Firm’s profile on the SEDAR web site at www.sedarplus.ca.

Readers are cautioned to not place undue reliance on forward-looking data. The Firm undertakes no obligation to replace any of the forward-looking data on this information launch besides as in any other case required by legislation.

For additional data, please contact:

Allan Body
President and CEO
Tel: 403-470-8450
Electronic mail: [email protected]

Jason Body
Supervisor of Communications
Tel: 587-225-2599
Electronic mail: [email protected]

Supply

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