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Snow Lake Resources Ltd. (NASDAQ: LITM), doing business as Snow Lake Energy, is a Canadian clean energy development company primarily focused on the exploration and development of lithium and uranium projects. Based in Winnipeg, Manitoba, Snow Lake's core operations involve the exploration of lithium in Manitoba, Canada, and uranium on a global scale.
The company's flagship projects include the Thompson Brothers Lithium Project, located in the Snow Lake region of Northern Manitoba, and the Shatford Lake Lithium Project adjacent to the Tanco lithium mine in Southern Manitoba. Snow Lake Lithium™ Project is an advanced-stage exploration project aimed at supplying high-demand minerals for the clean energy transition and electric vehicle (EV) markets.
Recently, Snow Lake has expanded its portfolio through the acquisition of significant uranium projects. The Engo Valley Uranium Project, situated in the Skeleton Coast of Namibia, and the Black Lake Uranium Project in the Athabasca Basin of Saskatchewan, Canada, are at the forefront of the company’s uranium exploration efforts. These projects are structured to benefit from modern exploration techniques and are poised to meet the global demand for nuclear fuel minerals.
Snow Lake has initiated its 2024 exploration programs across its various projects. The Engo Valley Uranium Project's first phase includes ground geophysics and radon cup surveys to confirm historical data and identify new exploration targets. Concurrently, the Shatford Lake Lithium Project has begun its four-phase exploration, which includes diamond drilling and extensive fieldwork to uncover prospective lithium deposits.
Financially, Snow Lake maintains a robust exploration budget, underpinning its strategic initiatives aimed at resource optimization. The company's recent advancements include finalizing partnerships with consultants and service providers to accelerate its exploration and development activities.
Strategically positioned in leading mining jurisdictions, Snow Lake leverages its expertise and modern technologies to advance its projects from exploration to production. The company continues to engage in significant industry partnerships to enhance its operational capabilities and resource estimates, aiming to establish itself as a key supplier of essential minerals for the clean energy industry.
For more detailed information and the latest updates, visit www.snowlakelithium.com.
Snow Lake Resources (NASDAQ: LITM) provided a corporate update highlighting significant developments in its uranium exploration projects. The company successfully completed a US$6.45 million public offering, securing funding for its 2025 exploration programs. The Phase 1 drill program at Engo Valley has been completed with 20 reverse circulation holes totaling 1,500 meters, with assay results pending. Downhole radiometrics confirmed uranium mineralization in several holes. A Phase 2 drill program is planned for early 2025. The company also completed its initial field season at the Black Lake Uranium Project and will finish its current drilling campaign at the Snow Lake Lithium Project by December 2024.
Snow Lake Energy (NASDAQ: LITM) has completed its previously announced public offering, raising US$6.45 million through the sale of 15,750,000 common shares at US$0.41 per share. ThinkEquity served as the sole placement agent for this offering. The company plans to use the net proceeds for working capital and general corporate purposes.
Snow Lake Energy is a Canadian clean energy exploration company with a portfolio including two uranium projects (Black Lake in Saskatchewan and Engo Valley in Namibia) and two lithium projects (Shatford Lake and Snow Lake in Manitoba). The company is currently prioritizing its uranium projects to support the clean energy transition, while limiting exploration activities on lithium projects due to depressed market conditions.
Snow Lake Energy (NASDAQ: LITM) has announced the pricing of a public offering of 15,750,000 common shares at $0.41 per share, aiming to raise gross proceeds of approximately $6.45 million. The offering is expected to close on December 20, 2024, with ThinkEquity serving as the sole placement agent. The company plans to use the net proceeds for working capital and general corporate purposes. The securities will be offered through a shelf registration statement on Form F-3 filed with the SEC.
Snow Lake Energy (NASDAQ: LITM) has announced its intention to conduct a best efforts public offering of common shares and pre-funded warrants. ThinkEquity will serve as the sole placement agent for this offering. The company plans to use the net proceeds primarily for working capital and general corporate purposes.
The securities will be offered through a shelf registration statement on Form F-3 filed with the SEC. The offering's completion, size, and terms are subject to market conditions. A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC, detailing the offering terms.
Snow Lake Resources (NASDAQ: LITM) announces positive preliminary results from eight reverse circulation drill holes at the Engo Valley Uranium Project in Namibia. Key findings include a mineralized intersection of 355 ppm eU3O8 over a 12-meter interval in drill hole ERCH002, and 137 ppm eU3O8 over a 20-meter interval in ERCH007. Five of eight holes drilled returned intersections above 100 ppm eU3O8. The company also initiated a winter drill program at its Snow Lake Lithium Project, which has a projected pre-tax NPV of USD$1.7 billion. The drilling program aims to confirm historical mineralization in sandstones and conglomerates through twinning of historical drill holes.
Snow Lake Resources (NASDAQ: LITM) announces its participation in The ThinkEquity Conference on October 30, 2024, at the Mandarin Oriental Hotel in New York. CEO Frank Wheatley will deliver a presentation at 2:30 PM ET and conduct one-on-one investor meetings throughout the day. The conference brings together institutional investors, corporate clients, and industry professionals to showcase innovations and financial strategies. Interested investors can schedule meetings through their ThinkEquity Representative.
Snow Lake Energy (NASDAQ: LITM) has announced the start of drilling on the Engo Valley Uranium Project in Namibia. The company has initiated a two-phase drill program designed to confirm and delineate historically documented uranium mineralization. The first phase, currently underway, involves approximately 1,500 meters of reverse circulation drilling to twin and create an in-fill grid pattern between historical drill holes. Downhole radiometrics will be conducted on each new drill hole, with initial results expected shortly after completion.
A second phase, consisting of about 2,100 meters of reverse circulation drilling, will follow to expand the infill grid, aiming to produce an initial SK-1300 compliant mineral resource estimate. CEO Frank Wheatley expressed optimism about confirming and delineating uranium mineralization at Engo Valley, noting that ground geophysics have been completed and drillers are now on site.
Snow Lake Resources (NASDAQ: LITM) has successfully completed its 2024 field exploration season on the Shatford Lake Project. The program resulted in several significant discoveries, including:
1. Numerous pegmatites under heavy overburden
2. A large ~25-30 meter-wide tantalite-bearing pegmatite on the Cat-Euclid Lake claim block
The discovery of the tantalite-bearing pegmatite indicates potential for lithium, cesium, and tantalum (LCT) mineralization similar to the Tanco Mine. CEO Frank Wheatley expressed satisfaction with the exploration results, stating that it confirms the company's confidence in the Shatford Lake Project's potential to host LCT mineralization. Snow Lake plans to conduct further exploration in 2025 to test these discoveries.
Snow Lake Resources (NASDAQ: LITM) has provided an update on its Shatford Lake Lithium Project exploration program in Manitoba, Canada. The company has completed the first field rotation of Phase 2 and has begun the second reconnaissance/prospecting rotation. Initial assay results show potential for lithium, and the project's proximity to the Tanco Mine is encouraging.
The 2024 exploration program consists of four phases, with Phase 3 potentially including up to 2,000 meters of diamond drilling. Snow Lake has an option agreement with ACME Lithium Inc. to earn up to a 90% interest in the project, which comprises 37 mineral claims totaling approximately 17,000 acres.
The Shatford Lake Lithium Project is located in the Bird River Greenstone Belt and is contiguous to the Tanco Mine, a long-standing lithium producer. Manitoba's ranking as a mining jurisdiction has improved from 14th to 6th overall in the Fraser Institute's 2023 annual survey.
Snow Lake Resources (NASDAQ: LITM) has provided an update on its Engo Valley Uranium Project in Namibia. The company has completed a radon cup survey and is preparing to start drilling. Key points include:
1. The project is located on the Skeleton Coast, about 600 km north of Swakopmund.
2. Historical exploration by Gencor in the 1970s identified four uranium anomalies.
3. Snow Lake's 2024 exploration program includes analysis of historical data, topographical surveys, and a planned 1,000-meter drill program.
4. The company is acquiring up to 85% interest in the project through Namibia Minerals and Investment Holdings.
5. Snow Lake views the current uranium market conditions as favorable for exploration, citing increasing demand and supply constraints.
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