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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 Lithium Ltd. (NASDAQ:LITM) has announced a strategic update focused on its growth plans for 2023 and beyond. The board aims to fast-track the Thompson Brothers Lithium Project by initiating a Preliminary Economic Assessment (PEA) for Direct Shipping Ore (DSO) to generate early cash flow. The company significantly expanded its land holdings to 59,587 acres and plans to conduct exploration campaigns for lithium-bearing pegmatite swarms. A high-caliber CEO will be recruited to lead these initiatives. Snow Lake's strategy emphasizes efficient spending and value creation, aiming to become a leading low-cost lithium producer amidst rising demand.
Snow Lake Lithium Ltd. (NASDAQ:LITM) held its annual general and special meeting on January 17, 2023, with 53.08% of votes represented. The board was confirmed with six directors, including Dale Schultz and nominees from Concerned Shareholders, receiving over 90% support. Key votes:
- 9,514,820 shares represented
- 9,388,933 votes for board confirmation
- 9,353,918 votes for auditor reappointment
Philip Gross and Derek Knight are no longer with the company. Nachum Labkowski was appointed Chairman of the Board and a special committee was formed to find a new CEO. The company is moving forward with a new drill program.
Snow Lake Lithium Ltd. (NASDAQ:LITM) announced the immediate resignations of directors Philip Gross, Hadassah Slater, and Allan Engel prior to their annual meeting on January 17, 2023. The company appreciates their contributions during their tenure. Snow Lake Lithium is focused on developing a sustainable lithium mine to serve the North American electric vehicle market. The wholly owned Snow Lake Lithium Project encompasses a 59,587-acre site, with an indicated resource of 11.1 million metric tonnes at 1% Li2O, highlighting significant untapped potential.
Snow Lake Lithium Ltd. (NASDAQ:LITM) announced final drill results from its 2022 Grass River drilling campaign, revealing significant lithium intercepts. Notable findings include 2.0% Li2O over 16 meters in hole CBP-007 and 3.6% Li2O over 1.5 meters in hole GRP-018. The complexity of the pegmatite geology suggests a potential increase in lithium levels at greater depths, with significant high-grade Li2O intercepts confirming the existence of lithium deposits in the newly identified GRP Dykes Swarm. The company plans to focus its 2023 winter drilling program on expanding these resources.
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