Snow Lake Resources Announces Important Update on Winter Drilling Campaign Progress

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WINNIPEG, MB /ACCESSWIRE/March 10, 2022/ Snow Lake Resources Ltd.d/b/a Snow Lake Lithium Ltd. (NASDAQ:LITM) (“Snow Lake” or the “Company”) today provided an update on the excellent progress of its winter drilling program which began with a previously announced successful first hole ( January 31, 2022 – Snow Lake Extends 10% Strike on First Hole of Winter Drilling Campaign ).

The 2022 Snow Lake drilling campaign has been designed for the further development of the property with the expansion of the defined resources and the identification of additional outside targets. Early indications suggest the campaign is executing successfully and improving on set goals.

Initial drilling at Snow Lake on the Thompson Brothers resource returned very favorable results despite a slightly delayed start-up due to winter conditions. The following intersections were of note (Table 1):


















HRD ID

FROM

FOR

LENGTH

%SPOD

TBL-025

9:00 p.m.

40.18

19.18

20

TBL-026

63.64

65.52

1.88

ten

TBL-027

231.50

269.00

37.5

30

TBL-029

439.00

447.43

8.43

20

TBL-029

449.94

456.11

6.17

20

TBL-031

415.44

425.73

10.29

20

TBL-031

432.67

437.13

4.46

20

TBL-032

339.60

352.34

12.74

25

TBL-032

356.90

358.08

1.18

20

TBL-033

444.80

447.28

2.48

ten

TBL-035

422.12

447.47

25:35

20

BYP-001

10:55 a.m.

20.00

9:45 a.m.

20

GRP-01

34.80

40.48

5.68

30

GRP-01

41.86

44.22

2.36

30

Table 1: Drilling intercepts since the start of the winter drilling program

Currently, there are three fiscal years (February 2, 2022 – Snow Lake Lithium Enters into Additional Drilling Contract for Project After Expanded Strike Zone on First Hole ( December 06, 2021 – Snow Lake Resources Ltd. Samples up to 6.97 WT% Li 2 O from His Manitoba Project ). This week, all three drills returned intersections containing spodumene at their current location (Figure 1).

Figure 1 – Map showing location of TBL, SGP, GRP and BYP targets

  • Hole TBL-035 returned a spodumene pegmatite intersection from 422.12 m to 447.47 m, totaling 25.35 m. (Picture 1).
  • Drill hole BYP-001 returned an intersection of 10.55m to 20.00m (9.45m, Photo 2).
  • Hole GRP-001, an exploration hole on previously undrilled ground, returned 2 intersections from 34.8m to 40.48m and from 41.86m to 44.22m for a total intersection of 8, 04m (Picture 3).

All samples have been and will continue to be sent to SGS’s Lakefield laboratory for analysis ( December 20, 2021 – Snow Lake Lithium contracts SGS for metallurgical testing ).

Following the early success of the Company’s winter drilling program, Snow Lake has committed to keeping all drills on site with air support to accelerate progress and resource expansion through the spring and summer. coming.

“The success of our drill program to date provides critical validation of our ambitions to deliver a decades-old resource to market,” said Philip Gross, CEO of Snow Lake, “We couldn’t have hoped for a better start for our drilling campaign and full credit is due to the dedication of our Vice President of Resource Development Dale Schultz and Vice President of Exploration Brian Youngs. With the planned expansion of the initial deposit at TBL, we We now also have evidence of spodumene from two additional target resources at GRP (Grass Rivers) and SGP Deposits (Sherritt Gordon).This additional evidence will provide us with a tactical advantage to ultimately increase our resources and provide optimal economic mining conditions. Due to these developments, we are now fully committed to extending our spring and summer drilling campaign and adjusting our feasibility study strategy. short-term preliminary facility and upgrading of resources to reflect the results of this program. »

Junior mining networkPhoto 1: TBL-035 2 to 4 cm spodumene crystals in pegmatite.

Junior mining networkPicture 2: BYP-001. Spodumene crystals 2 to 3 cm.

Junior mining networkPicture 3: GRP-01. An exploration drill hole intercepted very coarse grained spodumene.

About Snow Lake Resources Ltd.

Snow Lake Lithium is committed to creating and operating a fully renewable and sustainable lithium mine that can provide a fully traceable, carbon neutral and safe product for the electric vehicle and battery markets. We not only aspire to set the standard for responsible lithium mining, but we aim to be the first lithium producer in the world to achieve Certified Company B status in the process.

Our wholly-owned Thompson Brothers lithium project covers a 55,318-acre site that has only been explored at 1% and contains an identified resource to date of 11.1 million metric tonnes indicated and inferred at 1% Li 2 O.

Forward-looking statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements in this press release can be identified by the use of words such as “anticipate”, “believe”, “intend”, “could”, “estimate”, “expect”, “have the ‘intent to’, ‘seek,’ ‘may’, ‘could’, ‘plan’, ‘potential’, ‘predict’, ‘project’, ‘target’, ‘aim’, ‘should’, ‘will’, ‘ would” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the current expectations of Snow Lake Resources Ltd. and are subject to uncertainties, inherent risks and assumptions that are difficult to predict and include statements regarding the intended use of proceeds and expected closing. In addition, certain forward-looking statements are based on assumptions about future events that may not prove to be accurate. These risks and uncertainties, as well as others, are described more th n detail in the section entitled “Risk Factors” of the final prospectus relating to our public offering filed with the Securities and Exchange Commission and other documents and reports that we file with the Securities and Exchange Commission. The forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. assumes no obligation to update this information, except as required by applicable law.

Contact: This email address is protected from spam. You need JavaScript enabled to view it.
www.SnowLakeLithium.com
Twitter: @SnowLakeLithium

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