Snow Lake Phase 2 Drill Program Underway at Engo Valley
Snow Lake Resources (NASDAQ: LITM) has initiated its Phase 2 drill program at the Engo Valley Uranium Project in Namibia. The program encompasses up to 7,500 meters of combined reverse circulation and diamond drilling, with initial drill holes already completed.
The drilling campaign focuses on the Main Uranium Occurrence (MUO) and D1 target area, following an in-fill grid pattern. The company aims to establish a maiden uranium mineral resource estimate scheduled for completion in the second half of 2025. Additional targets identified by the 2024 radon cup survey will also be tested in the north and south parts of the project.
Downhole radiometrics will be conducted on each drill hole. The program's timing aligns with increasing global uranium demand, with Namibia being the third-largest global uranium producer.
Snow Lake Resources (NASDAQ: LITM) ha avviato il programma di perforazione di Fase 2 presso il Progetto Uranio Engo Valley in Namibia. Il programma prevede fino a 7.500 metri di perforazioni combinate a circolazione inversa e a diamante, con i primi fori già completati.
La campagna di perforazione si concentra sull'area principale di presenza di uranio (MUO) e sull'obiettivo D1, seguendo un modello a griglia di infittimento. L'azienda punta a definire una prima stima delle risorse minerarie di uranio prevista per la seconda metà del 2025. Verranno inoltre testati ulteriori obiettivi individuati dal sondaggio con tazze di radon del 2024 nelle parti nord e sud del progetto.
Su ogni foro di perforazione verranno effettuate misurazioni radiometriche in foro. Il tempismo del programma è in linea con la crescente domanda globale di uranio, con la Namibia che è il terzo produttore mondiale di uranio.
Snow Lake Resources (NASDAQ: LITM) ha iniciado su programa de perforación Fase 2 en el Proyecto de Uranio Engo Valley en Namibia. El programa incluye hasta 7,500 metros combinados de perforación por circulación inversa y diamante, con los primeros pozos ya completados.
La campaña de perforación se centra en la Principal Ocupación de Uranio (MUO) y el área objetivo D1, siguiendo un patrón de cuadrícula de relleno. La compañía busca establecer una estimación inicial de recursos minerales de uranio prevista para la segunda mitad de 2025. También se probarán objetivos adicionales identificados por la encuesta de copas de radón de 2024 en las partes norte y sur del proyecto.
Se realizarán mediciones radiométricas en cada pozo de perforación. El momento del programa coincide con el aumento de la demanda global de uranio, siendo Namibia el tercer mayor productor mundial de uranio.
Snow Lake Resources (NASDAQ: LITM)는 나미비아의 엥고 밸리 우라늄 프로젝트에서 2단계 시추 프로그램을 시작했습니다. 이 프로그램은 역순환 및 다이아몬드 시추를 합쳐 최대 7,500미터를 포함하며, 초기 시추공이 이미 완료되었습니다.
시추 캠페인은 메인 우라늄 매장지(MUO)와 D1 목표 지역에 집중하며, 인필 그리드 패턴을 따릅니다. 회사는 2025년 하반기에 완료될 예정인 최초 우라늄 광물 자원 추정치를 수립하는 것을 목표로 합니다. 2024년 라돈 컵 조사를 통해 확인된 추가 목표도 프로젝트 북부와 남부 지역에서 시험할 예정입니다.
각 시추공마다 구멍 내 방사선 측정이 실시됩니다. 이 프로그램의 시기는 전 세계 우라늄 수요 증가와 맞물려 있으며, 나미비아는 세계에서 세 번째로 큰 우라늄 생산국입니다.
Snow Lake Resources (NASDAQ : LITM) a lancé son programme de forage de phase 2 sur le projet d'uranium Engo Valley en Namibie. Le programme comprend jusqu'à 7 500 mètres de forage combiné par circulation inverse et diamant, avec les premiers trous déjà réalisés.
La campagne de forage se concentre sur la principale occurrence d'uranium (MUO) et la zone cible D1, suivant un schéma de grille de remplissage. La société vise à établir une première estimation des ressources minérales en uranium prévue pour la seconde moitié de 2025. D'autres cibles identifiées lors de l'enquête radon cup 2024 seront également testées dans les parties nord et sud du projet.
Des mesures radiométriques en forage seront effectuées sur chaque trou. Le calendrier du programme coïncide avec la demande mondiale croissante en uranium, la Namibie étant le troisième producteur mondial d'uranium.
Snow Lake Resources (NASDAQ: LITM) hat sein Phase-2-Bohrprogramm beim Engo Valley Uran-Projekt in Namibia gestartet. Das Programm umfasst bis zu 7.500 Meter kombinierte Reverse-Circulation- und Diamantbohrungen, wobei die ersten Bohrlöcher bereits abgeschlossen sind.
Die Bohrkampagne konzentriert sich auf das Haupt-Uranvorkommen (MUO) und das Zielgebiet D1, wobei ein Infill-Gittermuster verfolgt wird. Das Unternehmen strebt eine erste Schätzung der Uran-Mineralressourcen an, die für die zweite Hälfte des Jahres 2025 geplant ist. Weitere Ziele, die durch die Radonbecher-Untersuchung 2024 identifiziert wurden, werden ebenfalls im nördlichen und südlichen Teil des Projekts getestet.
An jedem Bohrloch werden Downhole-Radiometrien durchgeführt. Das Timing des Programms passt zur steigenden globalen Uran-Nachfrage, wobei Namibia der drittgrößte Uranproduzent weltweit ist.
- Initial drill holes of Phase 2 program already completed
- Program designed to establish maiden uranium mineral resource estimate
- Strategic location in Namibia, the world's third-largest uranium producer
- Timing aligns with growing global uranium demand and nuclear energy expansion
- Resource estimate completion dependent on timely assay results
- No current mineral resource estimates available
Insights
Snow Lake's commencement of Phase 2 drilling at Engo Valley represents standard progression in the uranium exploration lifecycle rather than a transformative development. The planned 7,500 meters of combined reverse circulation and diamond drilling follows industry-standard exploration protocols designed to establish a maiden resource estimate.
The company's timeline targeting a resource estimate in H2 2025 aligns with typical exploration schedules for projects at this stage. What's notable is the project's location in Namibia, the world's third-largest uranium producer, providing geological credibility to the exploration thesis. The focus on two primary targets (Main Uranium Occurrence and D1) with additional testing of radon cup survey anomalies follows methodical exploration practices.
The market should view this as neutral execution against the company's stated exploration strategy. No drill results are provided in this announcement, and the true value-creation moment will come when actual uranium mineralization data becomes available. For a company with a
The CEO's remarks about uranium supply deficits align with broader industry consensus but provide no new insights. Investors should maintain reasonable expectations – early-stage exploration programs typically face numerous technical and geological challenges before establishing economic viability.
Winnipeg, Manitoba--(Newsfile Corp. - April 16, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (Nasdaq: LITM) ("Snow Lake"), a uranium exploration and development company, announces that the Phase 2 drill program at its Engo Valley Uranium Project ("Engo Valley") is now underway.
Highlights
- Phase 2 drill program is now underway
- Drill crews are on site, have established their exploration camp, and the initial drill holes comprising the Phase 2 drill program have now been completed
- Phase 2 is planned to consist of up to 7,500 meters of a combination of reverse circulation and diamond drilling, and is designed to provide a drill database sufficient to calculate a maiden uranium mineral resource estimate in accordance with SK-1300
- Maiden mineral resource estimate is currently scheduled for completion during the second half of 2025
- Phase 2 also includes plans to test a number of additional targets in the north and south parts of the project, outside of the two targets which are the main focus of Phase 2
CEO Remarks
"We have now completed the initial drill holes on our Phase 2 drill program at Engo Valley" said Frank Wheatley, CEO of Snow Lake. "Our objectives for Phase 2 are simple - to complete sufficient drilling to allow us to calculate a maiden resource estimate at Engo Valley during the second half of 2025."
"The global supply deficit of uranium will continue to increase as the world continues to expand it nuclear energy production capacity. With new uranium mines needed to meet this demand, programs like our Phase 2 drill program at Engo Valley are essential to prove up potential new economic sources of primary uranium. With Namibia being the third largest global uranium producer, we look forward to a successful Phase 2 drilling campaign at Engo Valley in Namibia."
Phase 2 Drill Program
The Phase 2 drill program ("Phase 2") has been planned to consist of an aggregate of up to 7,500 meters of a combination of reverse circulation and diamond drill holes in an in-fill grid pattern sufficient to allow the calculation of a maiden mineral resource estimate. Phase 2 will be focused on the Main Uranium Occurrence ("MUO"), and the D1 target area ("D1"). See Figure 1.
Figure 1 - Phase 2 Drilling underway at Engo Valley Uranium Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9547/248733_ea54c341541d8bed_001full.jpg
A number of drill holes will be undertaken on some of the targets identified by the radon cup survey undertaken in 2024, outside of the MOU and D1. Downhole radiometrics will be conducted on each drill hole.
Assuming the Phase 2 drill program goes according to plan and assay results are received in a timely fashion, the preparation of a maiden mineral resource estimate for Engo Valley is targeted for completion during the second half of 2025.
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 clean energy mineral projects comprised of two uranium projects and two hard rock lithium projects. The Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia, and the Black Lake Uranium Project is an exploration stage project located in the Athabasca Basin, Saskatchewan. The Shatford Lake Project is an exploration stage project located adjacent to the Tanco lithium, cesium and tantalum mine in Southern Manitoba, and the Snow Lake Lithium™ Project is an exploration stage project located in the Snow Lake region of Northern Manitoba. 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/248733
FAQ
What is the scope of Snow Lake's (LITM) Phase 2 drill program at Engo Valley?
When will Snow Lake (LITM) complete its maiden mineral resource estimate for Engo Valley?
What are the main targets of LITM's Phase 2 drilling at Engo Valley?
What technical methods is Snow Lake (LITM) using in its Phase 2 drilling program?
