Exploration Drilling Underway at the Pine Ridge Uranium Project In the Powder River Basin, Wyoming
Snow Lake Resources (NASDAQ: LITM) has commenced its initial exploration drilling program at the Pine Ridge Uranium Project in Wyoming's Powder River Basin. The project, a 50/50 joint venture with Global Uranium and Enrichment Limited, will involve approximately 38,000 meters of drilling focused on high-priority targets.
The Pine Ridge project, strategically located just 15km from Cameco's Smith Ranch Mill (capacity: 5.5Mlbs U3O8 p.a.), is positioned for rapid advancement as a near-development In-Situ Recovery uranium project. The company has secured drilling permits from Wyoming's Department of Environmental Quality and aims to establish a maiden mineral resource estimate by the end of 2025.
Snow Lake Resources (NASDAQ: LITM) ha avviato il suo programma iniziale di perforazione esplorativa presso il progetto Pine Ridge Uranium nella Powder River Basin del Wyoming. Il progetto, una joint venture al 50/50 con Global Uranium and Enrichment Limited, prevede circa 38.000 metri di perforazioni focalizzate su obiettivi ad alta priorità.
Il progetto Pine Ridge, situato strategicamente a soli 15 km dal Smith Ranch Mill di Cameco (capacità: 5,5 milioni di libbre di U3O8 all'anno), è pronto per un rapido sviluppo come progetto di recupero in situ dell’uranio prossimo alla fase di sviluppo. L’azienda ha ottenuto i permessi di perforazione dal Dipartimento per la Qualità Ambientale del Wyoming e punta a definire una prima stima delle risorse minerarie entro la fine del 2025.
Snow Lake Resources (NASDAQ: LITM) ha iniciado su programa inicial de perforación exploratoria en el Proyecto de Uranio Pine Ridge, ubicado en la Cuenca del Río Powder, Wyoming. El proyecto, una empresa conjunta 50/50 con Global Uranium and Enrichment Limited, incluirá aproximadamente 38,000 metros de perforación enfocados en objetivos prioritarios.
El proyecto Pine Ridge, estratégicamente situado a solo 15 km del Smith Ranch Mill de Cameco (capacidad: 5.5 millones de libras de U3O8 por año), está preparado para un avance rápido como un proyecto de recuperación in situ de uranio próximo a desarrollo. La compañía ha obtenido los permisos de perforación del Departamento de Calidad Ambiental de Wyoming y busca establecer una estimación inicial de recursos minerales para finales de 2025.
Snow Lake Resources (NASDAQ: LITM)는 와이오밍 파우더 리버 분지에 위치한 파인 리지 우라늄 프로젝트에서 초기 탐사 시추 프로그램을 시작했습니다. 이 프로젝트는 Global Uranium and Enrichment Limited와의 50/50 합작 투자로, 약 38,000미터의 시추가 우선 순위가 높은 목표 지점에 집중될 예정입니다.
파인 리지 프로젝트는 Cameco의 Smith Ranch Mill에서 단 15km 거리에 전략적으로 위치해 있으며(처리 용량: 연간 550만 파운드 U3O8), 개발 단계에 가까운 현장 회수(In-Situ Recovery) 우라늄 프로젝트로 빠른 진전을 기대하고 있습니다. 회사는 와이오밍 환경 품질부로부터 시추 허가를 받았으며 2025년 말까지 최초의 광물 자원 추정을 확립하는 것을 목표로 하고 있습니다.
Snow Lake Resources (NASDAQ : LITM) a lancé son programme initial de forage d'exploration sur le projet d'uranium Pine Ridge dans le bassin de la rivière Powder, Wyoming. Le projet, une coentreprise à 50/50 avec Global Uranium and Enrichment Limited, impliquera environ 38 000 mètres de forage ciblant des zones prioritaires.
Le projet Pine Ridge, stratégiquement situé à seulement 15 km de l'usine Smith Ranch de Cameco (capacité : 5,5 millions de livres de U3O8 par an), est prêt pour une avancée rapide en tant que projet d'extraction d'uranium par récupération in situ proche du développement. La société a obtenu les permis de forage du Département de la Qualité Environnementale du Wyoming et vise à établir une première estimation des ressources minérales d'ici la fin 2025.
Snow Lake Resources (NASDAQ: LITM) hat sein erstes Explorationsbohrprogramm beim Pine Ridge Uranprojekt im Powder River Basin, Wyoming, gestartet. Das Projekt, ein 50/50 Joint Venture mit Global Uranium and Enrichment Limited, umfasst etwa 38.000 Meter Bohrungen, die sich auf vorrangige Ziele konzentrieren.
Das Pine Ridge Projekt, strategisch nur 15 km vom Smith Ranch Mill von Cameco entfernt (Kapazität: 5,5 Mio. lbs U3O8 pro Jahr), ist für eine schnelle Weiterentwicklung als nah an der Entwicklung stehendes In-Situ-Recovery-Uranprojekt positioniert. Das Unternehmen hat Bohrgenehmigungen vom Umweltministerium von Wyoming erhalten und strebt an, bis Ende 2025 eine erste Mineralressourcenschätzung zu erstellen.
- Strategic location 15km from Cameco's Smith Ranch Mill, one of the largest U.S. uranium production facilities
- Secured necessary drilling permits from Wyoming Department of Environmental Quality
- Experienced contractors with significant regional expertise hired for the drilling program
- Project located in the premier U.S. uranium basin with potential for rapid development
- No established mineral resource estimate yet
- Project success dependent on drilling results
- Requires significant drilling investment (~38,000m) before resource estimation
Insights
Snow Lake begins significant 38,000m uranium drilling program in Wyoming's prolific Powder River Basin, targeting maiden resource estimate by year-end.
Snow Lake Resources has initiated its 38,000-meter (125,000 ft) drilling program at the Pine Ridge Uranium Project in Wyoming's Powder River Basin, a region known as America's premier uranium production area. This represents a significant operational milestone for the company's 50/50 joint venture with Global Uranium and Enrichment Limited.
The strategic location of this project carries substantial advantages. Pine Ridge sits just 15km from Cameco's Smith Ranch Mill, which has a licensed processing capacity of 5.5 million pounds of U3O8 annually. This proximity to existing infrastructure could significantly reduce future capital requirements should the project advance to production stage. The property is also surrounded by established uranium projects held by major producers UEC and Cameco, suggesting favorable geology.
The company has assembled an experienced technical team, including Bryan Soliz who brings over 25 years of Powder River Basin expertise. The drilling permit has been secured from Wyoming's Department of Environmental Quality, and the aggressive program aims to generate sufficient data to establish a maiden mineral resource estimate before the end of 2025.
For a junior resource company like Snow Lake, establishing an initial resource estimate represents a critical valuation milestone. The company is positioning this as a near-development In-Situ Recovery project, a mining method that typically has lower capital costs and environmental impact compared to conventional mining. The project's advancement aligns with increasing U.S. government emphasis on developing domestic uranium supply chains to reduce foreign dependency.
Winnipeg, Manitoba--(Newsfile Corp. - July 25, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, announces that its initial exploration drill program is now underway at the Pine Ridge Uranium Project in Wyoming ("Pine Ridge"), a 50/50 joint venture (the "Joint Venture") with Global Uranium and Enrichment Limited ("GUE").
Pine Ridge is located in the Powder River Basin in Wyoming, the most significant area for uranium production in the U.S., primarily via ISR production methods. The Joint Venture's maiden drill program at Pine Ridge, consisting of ~38,000m (125,000ft) of drilling, will focus on testing high priority targets.
Highlights
- Drill permit approval received from Wyoming Department of Environmental Quality (DEQ) for the maiden drill program at the Pine Ridge.
- Pine Ridge is a near-development In-Situ Recovery (ISR) uranium project located in the heart of Wyoming's prolific Powder River Basin and primed for rapid advancement.
- A large and aggressive drill program of ~38,000m (125,000ft) began this week with high priority drill targets identified.
- Pine Ridge is located ~15km from Cameco's Smith Ranch Mill and is surrounded by established uranium projects held by UEC and Cameco.
CEO Remarks
"We are delighted to have begun our drilling campaign at Pine Ridge," said Frank Wheatley, CEO of Snow Lake. "Our Joint Venture team has reviewed all of the historical drilling data for Pine Ridge and has defined a series of high-priority drill targets. The current drill campaign contemplates up to 38,000 meters of drilling designed to establish a data base sufficient to calculate a maiden mineral resource estimate prior to the end of 2025."
"As we continue to note, the U.S. needs new uranium mines. We are excited to begin our drill program at Pine Ridge, which we feel has all the characteristics of a leading U.S based uranium development project that holds the potential to positively contribute to satisfying the U.S. goals of increasing domestic production of uranium."
Pine Ridge Uranium Project - Overview
Pine Ridge is a near development In-Situ Recovery (ISR) uranium project located in the southwestern Powder River Basin of Wyoming, the premier U.S. uranium basin.
Pine Ridge is surrounded by existing uranium projects held by UEC and Cameco and is also located only ~15km from Cameco's Smith Ranch Mill, which has licensed capacity of 5.5Mlbs U3O8 p.a. The Smith Ranch mill is one of the largest uranium production facilities in the U.S.
Figure 1: Drill Rig at Pine Ridge
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https://images.newsfilecorp.com/files/9547/260035_7eb9483594f76bc7_001full.jpg
Exploration Program Overview
The Drilling Permit has been received from Wyoming DEQ and the drill program has begun. Single Water Services LLC will conduct the drilling program and has successfully completed numerous previous drilling campaigns at Pine Ridge. Their familiarity is expected to support an efficient and well executed program, with the potential addition of a second rig to accelerate progress. A contract has also been signed with Hawkins CBM Logging, Inc. from Cody, Wyoming. Hawkins has undertaken a significant amount of geophysical probing in the Powder River Basin.
Figure 2: Pine Ridge Uranium Project and Adjacent Properties
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https://images.newsfilecorp.com/files/9547/260035_7eb9483594f76bc7_002full.jpg
Bryan Soliz, owner of SOLA Project Services, has been contracted by the Joint Venture and is leading the geologic and mineralization modeling and is correlating uranium roll fronts among multiple sandstone packages. Mr. Soliz has significant experience and expertise in the region, highlighted by more than 25 years of exploration and production experience in the Powder River Basin, including at the adjacent Smith Ranch project operated by Cameco.
The geologic modeling has guided the identification of high-priority drill targets in the area (shown below in red) with approximately 38,000m (125,000 ft) of drilling to be completed inside these areas during the initial exploration program.
Figure 3: Priority Areas for 2025 Exploration Program at Pine Ridge
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https://images.newsfilecorp.com/files/9547/260035_7eb9483594f76bc7_003full.jpg
About Snow Lake Resources Ltd.
Snow Lake Resources Ltd., d/b/a Snow Lake Energy, is a Canadian mineral exploration company listed on NASDAQ: LITM, with a global portfolio of critical mineral and clean energy projects. The Pine Ridge Uranium project is an exploration stage project located in Wyoming, United States, and the Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia. Snow Lake also holds a portfolio of additional exploration stage critical minerals projects located in Manitoba, as well as investments in a number of public companies with critical minerals assets. Learn more at www.snowlakeenergy.com.
Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 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, including without limitation statements with regard to Snow Lake Resources Ltd. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "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 Snow Lake Resources Ltd.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Some of these risks and uncertainties are described more fully in the section titled "Risk Factors" in our registration statements and annual reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no duty to update such information except as required under applicable law.
| Contact and Information Frank Wheatley, CEO | Investor Relations Investors: ir@snowlakelithium.com Website: www.snowlakeenergy.com | Follow us on Social Media Twitter: www.twitter.com/SnowLakeEnergy LinkedIn: www.linkedin.com/company/snow-lake-energy |
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260035
FAQ
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