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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) announced that CEO Phillip Gross will be featured on The RedChip Money Report airing on Bloomberg TV on January 8 at 7 p.m. ET. The company focuses on producing a sustainable lithium product aimed at the electric vehicle market, highlighting its commitment to a carbon-neutral operation. Their Thompson Brothers Lithium Project spans 21,703 acres with significant lithium resources.
This interview aims to enhance shareholder engagement and inform potential investors about the company's advancements.
Snow Lake Lithium Ltd. (NASDAQ:LITM) reflects on a successful year marked by a $27.6M IPO at $7.50 per share. The company aims to lead North America in lithium hydroxide production for the EV industry, currently dominated by China. Manitoba's resources and infrastructure serve as key advantages. Upcoming initiatives include a 15,000-meter drilling campaign, metallurgical testing, and environmental permitting. Snow Lake's goal is to achieve commercial production while emphasizing sustainability and community relations.
Snow Lake Resources Ltd. (NASDAQ:LITM) announced a new partnership with SGS Natural Resources for metallurgical testing, pivotal for their preliminary economic assessment and pre-feasibility study. This collaboration aims to optimize processing methods for extracting lithium from Snow Lake's ore, focusing on producing a spodumene concentrate with 6% Li2O and lithium hydroxide. CEO Philip Gross emphasized the importance of this data to achieve full-scale production and to establish Snow Lake as a leading carbon-neutral lithium supplier for the North American EV market.
Snow Lake Lithium Ltd (NASDAQ:LITM) has engaged SLR Consulting Canada to conduct environmental baseline studies, marking a critical step towards full-scale commercial lithium production at its mine. This partnership aligns with the company's commitment to high standards of Environmental, Social, and Governance (ESG) practices. The initiative aims to ensure compliance with environmental aspirations while establishing a benchmark for responsible mining, as Snow Lake aspires to be the first carbon-neutral lithium producer in North America, backed by a substantial lithium resource estimate of 11.1 million metric tonnes.
Snow Lake Lithium (Nasdaq:LITM) has received all necessary permits for its winter drilling campaign, with contracts signed with Big Ice Services for winter road access and QB Drilling for drilling operations. The campaign will target both the existing TBL Resource block and other identified pegmatite locations, with plans to drill between 5,000-15,000 meters. CEO Philip Gross emphasizes the company's goal of accelerating the path to commercial production, contributing to the electrification of vehicles.
Snow Lake Resources Ltd. (NASDAQ:LITM) announced positive results from its August 2021 prospecting program in Manitoba, identifying new lithium targets. Key findings include Li2O values from several dykes, with the BY Pegmatite showing 1.20 to 1.60 wt%, and Grass River dyke samples exceeding 6.0% Li2O. The successful program aims to boost resource expansion, with an emphasis on the upcoming winter drilling initiative. The company's management believes these developments position Snow Lake as a vital player in addressing North America's lithium supply needs.
Snow Lake Resources Ltd. (NASDAQ:LITM) has expanded its exploration properties in Manitoba by staking an additional 7,875 acres through the Herb Block, increasing its total footprint to 21,703 acres. This expansion represents a 57% increase in total exploration claims. The company aims to explore the potential for additional lithium-bearing pegmatites based on historical data. Executives express optimism about the new claims contributing to resource expansion and operational cost reductions.
Snow Lake Resources Ltd. (NASDAQ:LITM) announced a significant update regarding its strategic production path. The company received a $62,000 CAD grant from the Manitoba Chambers of Commerce, aimed at supporting its UAV drone magnetic survey set for mid-December, conducted by EarthEx Geophysical Solutions Inc. This high-resolution survey will improve drill targeting, providing critical data to explore the potential for lithium pegmatite resources, as only 5% of its property has been explored.
Snow Lake Resources Ltd. (LITM) announced the closing of its initial public offering, raising $27.6 million by selling 3,680,000 common shares at $7.50 each, including an over-allotment option. The funds will be allocated to resource development, exploratory drilling, technical studies, and potential project acquisitions. The company aims to be the first fully renewable energy-powered electric mine and has a substantial resource base of 11.1 million metric tonnes of lithium.
Snow Lake Resources Ltd. (LITM) announced the pricing of its initial public offering, offering 3,200,000 common shares at $7.50 per share, aiming for gross proceeds of $24 million before expenses. An option for underwriters to purchase an additional 480,000 shares is included. Proceeds will fund resource development, exploratory drilling, and general corporate purposes. Shares are set to trade on the Nasdaq starting November 19, 2021, with the offering expected to close on November 23, 2021.
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