WINNIPEG, MB / ACCESSWIRE / November 29, 2021 / Snow Lake Resources Ltd. (NASDAQ: LITM) (“Snow Lake” or the “Company”), is pleased to provide an update on its continued progress in executing a strategic path to production. The company received a grant from the Manitoba Chamber of Commerce and the Manitoba Mining Development Fund in the amount of C $ 62,000 to be used in support of our UAV drone magnetic survey which is scheduled for mid -December and which will be completed by EarthEx Geophysical Solutions. Inc. of Selkirk, Manitoba.
Pegmatite exploration can be supported by magnetic mapping in many ways, including mapping the structural tissue controlling crystallization, as well as detecting magnetic susceptibility contrasts with neighboring lithologies. A historic fixed-wing SPECTREM survey in the area shows a correlation between the Thompson Brothers lithium deposit and a low magnetic trend. However, the dataset lacks sufficient resolution for precise and efficient drill targeting. The EarthEx mag drone system is known to provide the highest resolution aeromagnetic maps currently in production. Additionally, EarthEx has already established, through property testing in 2019, that the magnetic susceptibility of pegmatite TBL is moderate relative to host rock lithologies (Figure 1), providing a potential method to track the magnetic signature of deposits and identify other surrounding targets using high-resolution magnetometry. The survey uses the latest advancements in geophysical drone technology, allowing it to fly lower than other systems. We believe the survey will provide Snow Lake with credible and critical data to help further identify anomalies that could potentially host lithium pegmatite targets for further resource expansion.
To date, Snow Lake has only explored about 5% of its property and this new generation of drone geophysical surveys will provide an abundance of data to support future prospecting and drilling programs.
Chuck Davidson, President and CEO of the Manitoba Chambers of Commerce and Chairman of the Board of Directors of the Manitoba Mining Development Fund also commented, “Manitoba has a proud mining heritage for over a century and Snow Lake Lithium will ensure its continuity for the next century as Manitoba establishes itself as a vital member of the electric vehicle supply chain while playing a vital role. in the fight against climate change. We look forward to working with Snow Lake Lithium as they progress into production and beyond. “
Philip Gross, CEO of Snow Lake Lithium commented “We are grateful for the support of the Government of Manitoba, which is a vote of confidence in Snow Lake, but more importantly demonstrates the constructive nature of our collaboration and relationships as we strategically execute our path to producing lithium. We look forward to working closely with the Government of Manitoba in the months and years to come as we help establish the province as a key enabler in the electrification of the North American fleet. “
Figure 1 – Magnetic susceptibility results. Pegmatite samples highlighted in yellow while other samples are host rock lithologies (EarthEx Internal Report, 2019).
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 market. We not only aspire to set the standard for responsible lithium battery manufacturing, but we also intend to be the first lithium producer in the world to achieve Certified B Corporation status in the process.
The wholly owned Thompson Brothers Lithium project covers a 13,828 acre site that has only been explored at 5% and contains 11.1 million metric tonnes of indicated and inferred resources at 1% Li2O.
This press release contains “forward-looking statements” which 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 contained in this press release may be identified by the use of words such as “anticipate”, “believe”, “contemplate”, “might”, “estimate”, “expect”, “have the intention “,” seek, “” may “,” could “,” plan “,” potential “,” predict “,” plan “,” target “,” aim “,” should “,” will “,” should ” , or the negative of such 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, risks and risks. and inherent assumptions that are difficult to predict and include statements regarding the intended use of the proceeds and expected closing. In addition, certain forward-looking statements are based on assumptions about future events which may not prove to be correct. risks and uncertainties as well as others are described in more detail in the section entitled “Risk Factors” in the final prospectus relating to the public offering filed 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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