Welcome to our dedicated page for Snow Lake Resources news (Ticker: LITM), a resource for investors and traders seeking the latest updates and insights on Snow Lake Resources stock.
Snow Lake Resources Ltd. (NASDAQ: LITM), doing business as Snow Lake Energy, regularly publishes news and updates that describe its activities across the nuclear fuel cycle and critical minerals sectors. Company announcements highlight its U.S.-focused uranium exploration projects, interests in uranium enrichment technology, and initiatives in small modular reactors, together with exploration-stage critical minerals projects and related investments.
News releases frequently cover technical and operational updates from the Pine Ridge Uranium Project in the Powder River Basin of Wyoming, where Snow Lake reports extensive drilling programs under a joint venture with Global Uranium and Enrichment Limited. These updates include descriptions of drill results, mineralized roll fronts, and geological interpretations for this In-Situ Recovery uranium exploration project. Additional releases address the Engo Valley uranium project in Namibia and other uranium assets referenced in the company’s strategy.
Snow Lake’s news flow also includes corporate and strategic developments, such as its proposed acquisition of all remaining shares of Global Uranium and Enrichment Limited, its indirect exposure to Ubaryon’s uranium enrichment technology, and the launch of Kadmos Energy Services LLC, a U.S.-based company focused on small modular light water reactors. Further announcements discuss option agreements and exploration plans for critical minerals projects like the Mound Lake Gallium Project in Ontario, as well as commentary on policy developments such as the designation of uranium as a critical mineral by U.S. authorities.
Investors and observers following LITM news can therefore expect a mix of exploration results, project-level updates, transaction-related disclosures, and commentary on nuclear and critical mineral policy, reflecting Snow Lake’s stated goal of advancing a U.S.-focused nuclear fuel cycle and critical minerals business.
Snow Lake Lithium Ltd. (NASDAQ:LITM) reported promising results from initial drill tests at the Grass River Pegmatite in Snow Lake, Manitoba. The drilling revealed a potential new starter pit with a high-grade intercept of 3.35% Li2O over three meters, at widths of five to six meters. The company has also secured a three-year extension on its exploration permits. CEO Philip Gross expressed enthusiasm over the strong results, which support the prospect of a high-grade open-cut lithium mine.
Snow Lake Lithium Ltd. (Nasdaq:LITM) announced an investor webinar scheduled for May 11, 2022, at 8:30 a.m. ET, hosted by CEO Philip Gross. The session aims to discuss recent corporate developments and will include a live Q&A. Interested parties can register here. A replay will be available on their website. Snow Lake Lithium is focused on creating a carbon-neutral lithium mine and has identified an estimated 11.1 million metric tonnes of lithium resources across 55,318 acres in the Thompson Brothers Project.
Snow Lake Resources Ltd. (LITM) has released initial results from its winter drilling campaign in the Thompson Brothers Lithium Project, reporting significant lithium intercepts. Hole TBL-027 yielded 1.49% LiO2 over 34.5 meters, while TBL-025 showed 1.52% LiO2 over 18 meters near the surface. The company continues its spring drilling program, which is supported by a helicopter, and aims to define the deposit further while expediting laboratory results. The resource estimate currently stands at 11.1 million metric tonnes of indicated and inferred resources.
Snow Lake Resources Ltd. (NASDAQ:LITM) has provided an operational update on its Snow Lake Project in Manitoba, marking progress towards its goal of a fully electric lithium mine. A 2-tonne metallurgical bulk sample is being collected, with one tonne from the Thompson Brothers resource and another from Grass River. SGS Canada will process these samples to create battery-grade lithium hydroxide. The winter drilling program has shown promising results, with 46 meters of coarse grain spodumene intercepted. The company aims to accelerate its lithium production as it prepares for commercial operations.
Snow Lake Resources Ltd. (NASDAQ:LITM) announced the closing of an underwritten block trade of 3,000,000 common shares at a price of $6.00 per share, resulting in total gross proceeds of $18,000,000 to its shareholder, Nova Minerals Ltd.. Following the offering, Nova Minerals owns approximately 37% of the Company’s outstanding shares and has agreed to lock-up its remaining shares until March 21, 2023. Snow Lake did not receive any proceeds from this sale. The offering was conducted under its SEC registration statement.
Snow Lake Lithium Ltd. (NASDAQ:LITM) has received a grant of CAD $157,500 from the Manitoba Mineral Development Fund to support its winter drilling campaign. This funding follows a previous grant of CAD $62,000 that aided in a geophysics drone campaign. Current drilling aims to expand the existing resource of 11.1 million metric tonnes and extend the mine's life. The transition to helicopter drilling is planned for spring and summer. The company emphasizes its commitment to a sustainable and environmentally conscious mining approach in Manitoba.
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Snow Lake Resources Ltd. (NASDAQ:LITM) announced a block trade of 3,000,000 common shares at $6.00 per share, generating $18,000,000 in proceeds for its shareholder, Nova Minerals Ltd.. Snow Lake will not receive any proceeds from this sale, which is expected to close on April 12, 2022. Post-offering, Nova Minerals will hold approximately 37% of Snow Lake's total outstanding shares. Nova has agreed to a lock-up on its remaining shares until March 21, 2023, reinforcing its commitment to Snow Lake's vision as a leading lithium supplier.
Snow Lake Resources Ltd. (NASDAQ:LITM) announced positive updates on its winter drilling program, confirming successful drilling initiatives in the Thompson Brothers lithium resource. Initial results show significant spodumene intersections across several drill holes, indicating potential resource expansion. The drilling campaign, now ongoing for spring and summer, aims to validate resource targets and enhance economic mining conditions while supporting a multi-decade lithium supply. With a commitment to sustainability, Snow Lake seeks to set industry standards and achieve Certified B Corporation status.
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