Snow Lake Resources: Extends strike by 10% during winter’s first hole drilling campaign


MANITOBA, CANADA /ACCESSWIRE/January 31, 2022/ Snow Lake Resources Ltd., d/b/a Snow Lake Lithium Ltd. (NASDAQ:LITM) (“Snow Lake” or the “Company”), is pleased to inform the market of the winter 2022 drilling campaign. Upon completion of the snow roads, the drilling company (QB Drilling ) was able to mobilize the first drill into position on January 28, 2022. Initial drilling is focused on the first resource of our Thompson Brothers Lithium (TBL) project to extend strike and depth. In the first hole (TBL-025), Snow Lake Lithium intersected a 19.8 meter core length (~14 meters true thickness) of lithium-bearing pegmatite that contains between 20-25% spodumene of 21, 0 to 40.8 meters (see photo 1.0 and 2.0). This is a northeasterly step of 76.6 meters from the last known intersection captured by hole TBL-024 (Figure 2.0 and Figure 3.0) during the 2018 resource drilling campaign. This would indicate that crystallization continues along strike and represents a 10% increase in strike over results produced in the previous drill program. Additionally, it should be noted that the spodumene is found near the surface (~30 meters), suggesting that the spodumene would be amenable to surface mining in the future.

Dale Schultz, Vice President of Exploration, said, “Setting up a winter drilling campaign in minus 30 to minus 40 degrees Celsius weather always poses unique challenges, and we managed it accordingly. It’s incredibly assertive that we hit spodumene in the very first hole and confirms our understanding of the resource. We have moved considerably away from the early resource limits along the strike and finding so much spodumene at this distance would suggest that the geological trend is continuing considerably.

Philip Gross CEO also commented: “Dale and his team have done a tremendous job mobilizing a campaign in a very short time. In just under 45 days, they managed to get permits, complete ice roads and spin drills. It’s very exciting. to convert our theoretical understanding of the geology into real concrete data and it is a credit to the team members who have spent the last two years analyzing the data in preparation. This intersection provides instant validation of our assumptions that TBL remains open at depth and on strike, and this represents just one of many dyke swarms contained on our property. We are also very excited about getting the drills out of the Sherrit Gordon dykes, which have had multiple historical pegmatite hits. We look forward to continued success on all fronts.”

The information in this news release has been compiled and reviewed by Dale Schultz, a Qualified Person and Professional Geoscientist (P.Geo.) who is a registered member of the Engineer and Geosciences of Manitoba (#24846) , a ‘ Recognized Professional Organization (RPO). Mr. Dale Schultz is the Project Manager for the Snow Lake Lithium Project and has sufficient experience relevant to the crystallization of the LCT-type pegmatite deposits being evaluated. Mr. Schultz is also a Qualified Person as defined by SK 1300 Rules for the Disclosure of Mineral Deposits.

Photo 1.0 Core of TBL-025 containing 20-25% spodumene. The intersection is 21.0 to 40.8 meters.

Photo 2.0 – The spodumene pegmatite of TBL-025 has a 19.8 meter core length (~14.0 meter true thickness) intersection of 21.0 to 40.8 meters.

Figure 1.0 – Cross section of TBL-025 and 025

Figure 2.0 – Plan view map of TBL-018, 020, 024 and 025

About Snow Lake Resources Ltd.

Snow Lake Lithium is committed to 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 21,703-acre site that is only 3% explored and contains an identified resource to date of 11.1 million indicated and inferred metric tonnes at 1% Li2O.

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.


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Twitter: @SnowLakeLithium

THE SOURCE: Snow Lake Resources Ltd.

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