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Beyond Lithium options Victory Project near Kenora to Bounty Gold

Oct 10, 2023

Beyond Lithium Inc. has entered into an option agreement with Bounty Gold Corp. and Last Resort Resources Ltd. to acquire 100% of the Victory Project and the Victory West Project situated in the Dryden-Ear Falls region of Ontario. The Victory Project is located just 40 km east of Kenora and 70 km west of Dryden with excellent nearby infrastructure including:

  • Pacific Railway (CP Rail) and network along the southern claim boundaries of the Victory Project
  • Access via Trans-Canada Highway and Highway 17 that connect to Kenora and Thunder Bay
  • 20-minute commute time from the nearest town of Vermilion Bay
  • Power line along Highway 17

In March 2023, Beyond Lithium entered into an option agreement with Bounty Gold and Last Resort for 57 projects. As part of that agreement, Beyond Lithium was granted a right-of-first refusal on future projects staked by Bounty Gold and Last Resort which gave rise to today's new option agreement.

District Scale

The Victory Project with its two new spodumene discoveries is located within 100 km of the Ear Falls Project (20,623 ha), where the Company recently announced high-grade grab samples up to 4.54% Li2O in a newly discovered spodumene-bearing pegmatite zone (see press release dated September 17, 2023, https://beyondlithium.ca/retransmission-beyond-lithium-discovers-new-spodumene-bearing-pegmatite-zone-at-ear-falls-project-in-northwest-ontario ). 

In addition to the Victory Project and the Ear Falls Project, Beyond Lithium continues to advance eight other projects (Satellite, Laval, Gullwing-tot, Webb East, Webb West, Temple Bay, Ogani Lake, and McKenzie Bay) located within 100 km of three regionally significant lithium deposits (Figure 1): 

  • The Mavis Lake Lithium deposit owned by Critical Resources Ltd. with 8 Mt at 1.07% Li2O1
  • The Separation Rapids Lithium deposit owned by Avalon Advanced Materials with a PEA of the pre-tax NPV (8% discount rate) calculated at C$156 million and the IRR at 27.1%2
  • The Root and McComb Lithium deposit owned by Green Technologies Metals with 22.5 Mt at 1.14% Li2O3

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