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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 (NASDAQ:LITM) announced a collaboration with the University of Manitoba to explore critical mineral inventory at its Snow Lake Lithium site. This two-year research project aims to enhance understanding of lithium deposits and will inform Canada's minerals strategy to meet rising lithium demand. Snow Lake is developing the world's first all-electric lithium mine, expecting to produce 160,000 tonnes of lithium spodumene annually. The company plans to transition to commercial production by late 2024, utilizing almost 100% renewable hydroelectric power.
Snow Lake Lithium Ltd. (Nasdaq: LITM) announced the resignation of Chairman Louie Simens, effective May 29, 2022, with CEO Philip Gross appointed as his successor. Simens had been with the company since November 2018 and was a key figure during its IPO. Gross expressed gratitude towards Simens for his service and highlighted Snow Lake's goal to establish itself as a leading player in the North American EV ecosystem. The company aims to become the first fully electric lithium mine, recently validating resource expansion with high-grade drilling results across various targets.
Snow Lake Lithium Ltd. (NASDAQ:LITM) reported significant drilling results from its Northern Manitoba project, identifying four high-grade lithium pegmatite dykes with intercepts above 1% Li2O. Key results include:
- 1.84% Li2O over 6.32 meters (SGP)
- 1.36% Li2O over 17.97 meters (TBL)
- 1.50% Li2O over 7.00 meters (BYP)
Snow Lake Lithium Ltd. (NASDAQ:LITM) reported promising results from initial drill tests at the Grass River Pegmatite in Snow Lake, Manitoba. The drilling revealed a potential new starter pit with a high-grade intercept of 3.35% Li2O over three meters, at widths of five to six meters. The company has also secured a three-year extension on its exploration permits. CEO Philip Gross expressed enthusiasm over the strong results, which support the prospect of a high-grade open-cut lithium mine.
Snow Lake Lithium Ltd. (Nasdaq:LITM) announced an investor webinar scheduled for May 11, 2022, at 8:30 a.m. ET, hosted by CEO Philip Gross. The session aims to discuss recent corporate developments and will include a live Q&A. Interested parties can register here. A replay will be available on their website. Snow Lake Lithium is focused on creating a carbon-neutral lithium mine and has identified an estimated 11.1 million metric tonnes of lithium resources across 55,318 acres in the Thompson Brothers Project.
Snow Lake Resources Ltd. (LITM) has released initial results from its winter drilling campaign in the Thompson Brothers Lithium Project, reporting significant lithium intercepts. Hole TBL-027 yielded 1.49% LiO2 over 34.5 meters, while TBL-025 showed 1.52% LiO2 over 18 meters near the surface. The company continues its spring drilling program, which is supported by a helicopter, and aims to define the deposit further while expediting laboratory results. The resource estimate currently stands at 11.1 million metric tonnes of indicated and inferred resources.
Snow Lake Resources Ltd. (NASDAQ:LITM) has provided an operational update on its Snow Lake Project in Manitoba, marking progress towards its goal of a fully electric lithium mine. A 2-tonne metallurgical bulk sample is being collected, with one tonne from the Thompson Brothers resource and another from Grass River. SGS Canada will process these samples to create battery-grade lithium hydroxide. The winter drilling program has shown promising results, with 46 meters of coarse grain spodumene intercepted. The company aims to accelerate its lithium production as it prepares for commercial operations.
Snow Lake Resources Ltd. (NASDAQ:LITM) announced the closing of an underwritten block trade of 3,000,000 common shares at a price of $6.00 per share, resulting in total gross proceeds of $18,000,000 to its shareholder, Nova Minerals Ltd.. Following the offering, Nova Minerals owns approximately 37% of the Company’s outstanding shares and has agreed to lock-up its remaining shares until March 21, 2023. Snow Lake did not receive any proceeds from this sale. The offering was conducted under its SEC registration statement.
Snow Lake Lithium Ltd. (NASDAQ:LITM) has received a grant of CAD $157,500 from the Manitoba Mineral Development Fund to support its winter drilling campaign. This funding follows a previous grant of CAD $62,000 that aided in a geophysics drone campaign. Current drilling aims to expand the existing resource of 11.1 million metric tonnes and extend the mine's life. The transition to helicopter drilling is planned for spring and summer. The company emphasizes its commitment to a sustainable and environmentally conscious mining approach in Manitoba.
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