Tallahassee Uranium Project Scoping Study
Snow Lake Resources Ltd. (NASDAQ: LITM), which holds a 19.9% strategic interest in Global Uranium and Enrichment Limited (GUE), announces the completion of a positive scoping study for the Hansen Deposit at the Tallahassee Uranium Project in Colorado. The Hansen Deposit, in which GUE holds a 51% interest, is the largest and highest-grade deposit within the Tallahassee Creek Uranium District.
The study aims to technically de-risk Hansen and establish the most cost-effective, technically efficient, and environmentally sustainable mining method. CEO Frank Wheatley highlighted the study's timing as particularly advantageous given the U.S. Administration's policies focused on accelerating domestic critical mineral production, especially uranium.
Snow Lake Resources Ltd. (NASDAQ: LITM), che detiene una partecipazione strategica del 19,9% in Global Uranium and Enrichment Limited (GUE), annuncia il completamento di uno studio di fattibilità preliminare positivo per il giacimento Hansen nel progetto Tallahassee Uranium in Colorado. Il giacimento Hansen, di cui GUE possiede il 51%, è il più grande e di maggiore qualità all'interno del distretto di Tallahassee Creek Uranium.
Lo studio ha l'obiettivo di ridurre i rischi tecnici legati a Hansen e di individuare il metodo di estrazione più economico, efficiente dal punto di vista tecnico e sostenibile dal punto di vista ambientale. Il CEO Frank Wheatley ha sottolineato che il tempismo dello studio è particolarmente favorevole, considerando le politiche dell'amministrazione statunitense volte ad accelerare la produzione nazionale di minerali critici, in particolare l'uranio.
Snow Lake Resources Ltd. (NASDAQ: LITM), que posee un interés estratégico del 19,9% en Global Uranium and Enrichment Limited (GUE), anuncia la finalización de un estudio preliminar positivo para el depósito Hansen en el proyecto Tallahassee Uranium en Colorado. El depósito Hansen, en el que GUE tiene un 51% de participación, es el mayor y de mayor ley dentro del distrito de Tallahassee Creek Uranium.
El estudio tiene como objetivo reducir los riesgos técnicos asociados a Hansen y establecer el método de minería más rentable, técnicamente eficiente y ambientalmente sostenible. El CEO Frank Wheatley destacó que el momento del estudio es especialmente favorable dado que las políticas de la administración estadounidense se centran en acelerar la producción nacional de minerales críticos, especialmente el uranio.
Snow Lake Resources Ltd. (NASDAQ: LITM)는 Global Uranium and Enrichment Limited(GUE)의 19.9% 전략적 지분을 보유하고 있으며, 콜로라도 소재 Tallahassee Uranium 프로젝트의 Hansen 광상에 대한 긍정적인 예비 타당성 조사를 완료했다고 발표했습니다. GUE가 51% 지분을 보유한 Hansen 광상은 Tallahassee Creek Uranium 지구 내에서 가장 크고 등급이 높은 광상입니다.
이번 조사는 Hansen의 기술적 위험을 줄이고 가장 비용 효율적이며 기술적으로 효율적이고 환경적으로 지속 가능한 채굴 방식을 확립하는 것을 목표로 합니다. CEO Frank Wheatley는 미국 행정부가 국내 핵심 광물, 특히 우라늄 생산을 가속화하는 정책에 집중하고 있는 가운데 이번 조사의 시기가 매우 유리하다고 강조했습니다.
Snow Lake Resources Ltd. (NASDAQ : LITM), qui détient une participation stratégique de 19,9 % dans Global Uranium and Enrichment Limited (GUE), annonce l'achèvement d'une étude de faisabilité positive pour le gisement Hansen dans le cadre du projet Tallahassee Uranium au Colorado. Le gisement Hansen, dont GUE détient 51 %, est le plus grand et le plus riche en teneur du district de Tallahassee Creek Uranium.
L'étude vise à réduire les risques techniques liés à Hansen et à établir la méthode d'extraction la plus rentable, techniquement efficace et écologiquement durable. Le PDG Frank Wheatley a souligné que le calendrier de l'étude est particulièrement avantageux, compte tenu des politiques de l'administration américaine visant à accélérer la production nationale de minéraux critiques, en particulier l'uranium.
Snow Lake Resources Ltd. (NASDAQ: LITM), das einen strategischen Anteil von 19,9 % an Global Uranium and Enrichment Limited (GUE) hält, gibt den Abschluss einer positiven Vorstudie für die Hansen-Lagerstätte im Tallahassee Uranium-Projekt in Colorado bekannt. Die Hansen-Lagerstätte, an der GUE 51 % beteiligt ist, ist die größte und hochwertigste Lagerstätte im Tallahassee Creek Uranium District.
Die Studie zielt darauf ab, technische Risiken bei Hansen zu reduzieren und die kosteneffizienteste, technisch effizienteste und umweltverträglichste Abbaumethode zu ermitteln. CEO Frank Wheatley betonte, dass das Timing der Studie besonders vorteilhaft sei, da die US-Regierungspolitik darauf abzielt, die inländische Produktion kritischer Mineralien, insbesondere Uran, zu beschleunigen.
- Strategic 19.9% ownership in GUE provides exposure to uranium sector
- Hansen is the largest and highest-grade deposit in Tallahassee Creek Uranium District
- Positive government policy support for U.S. uranium production
- LITM only holds minority interest (19.9%) in GUE
- GUE holds only 51% interest in Hansen Deposit
- Project still in early scoping study phase with no production timeline
Insights
Snow Lake's stake in GUE provides exposure to promising uranium deposit, but early-stage scoping study marks just initial technical validation.
The completion of a positive scoping study for the Hansen Deposit marks an important early milestone in the development pathway of the Tallahassee Uranium Project. This deposit is particularly significant as it's characterized as the largest and highest-grade deposit within the Tallahassee Creek Uranium District of Colorado.
It's crucial to understand that scoping studies represent preliminary economic and technical assessments with wide variance margins (typically ±30-50%). This study serves as an initial technical de-risking exercise rather than a production decision. The stated focus on identifying "the most cost effective, technically efficient, and most permittable and environmentally sustainable mining method" demonstrates a comprehensive approach to addressing the multiple challenges uranium projects face.
The JORC 2021-compliant resource adds credibility to the project's fundamentals, though without specific tonnage and grade figures disclosed in this release. GUE's controlling 51% interest in the Hansen Deposit provides them development direction authority, which streamlines decision-making processes going forward.
The timing aligns strategically with increasing U.S. policy support for domestic critical mineral production, potentially providing regulatory advantages that could facilitate advancement through subsequent studies and permitting processes. However, substantial technical, financial, and regulatory milestones remain before production decisions can be reached.
Snow Lake's 19.9% strategic investment in Global Uranium and Enrichment Limited represents meaningful indirect exposure to the Hansen Deposit's potential. As the self-described "cornerstone shareholder," Snow Lake stands to benefit from value-creating milestones at GUE's uranium assets, with this positive scoping study representing one such potential catalyst.
The completion of this study suggests the Hansen Deposit has passed initial economic screening, though investors should recognize that scoping studies are preliminary assessments that precede the more rigorous pre-feasibility and feasibility studies required before development decisions. The release directs investors to GUE's ASX announcement for detailed economic metrics, which are not provided in Snow Lake's announcement.
Snow Lake appears to be strategically positioning itself to leverage the current favorable policy environment for domestic U.S. uranium production, with CEO Frank Wheatley explicitly noting "strong tailwinds" from U.S. Administration policies. This regulatory support could potentially accelerate development timelines, though policy environments remain subject to change.
Investors should recognize the multi-year development pathway still ahead, with significant capital requirements and regulatory approvals likely for uranium project advancement. While positive, this milestone represents an early step in a lengthy development process for the Hansen Deposit and the broader Tallahassee uranium project, with production still years away if the project continues to advance successfully.
Winnipeg, Manitoba--(Newsfile Corp. - May 6, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, announces that Global Uranium and Enrichment Limited ("GUE"), in which Snow Lake holds a strategic
Highlights
- Tallahassee consists of five major targets, and the Study specifically targets Hansen
- Hansen is the largest and highest-grade deposit within the Tallahassee Creek Uranium District of Central Colorado
- Hansen contains a significant JORC 2021 mineral resource1
- The purpose of the Study is to technically de-risk Hansen and to demonstrate a pathway to developing the most cost effective, technically efficient, and most permittable and environmentally sustainable mining method
- GUE holds a
51% interest in the mineral holdings at Hansen
- Full details of the Study can be found in GUE's ASX Announcement of May 6, 20252
CEO Remarks
"As the cornerstone shareholder of Global Uranium and Enrichment Limited (GUE), we are extremely pleased that GUE has completed what is, in our view, a highly encouraging scoping study on the Hansen Deposit at Tallahassee" said Frank Wheatley, CEO of Snow Lake. "We believe the completion of this study is particularly timely given the U.S. Administration's policies regarding accelerating U.S. critical mineral production, and in particular uranium.
These policy developments provide strong tailwinds for GUE to continue advancing the Hansen Deposit, as well as the broader Tallahassee uranium project, through the next phases of development."
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. 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.
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| Frank Wheatley, CEO | Investors: ir@snowlakelithium.com | Twitter: www.twitter.com/SnowLakeEnergy |
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1 wcsecure.weblink.com.au/pdf/GUE/02943663.pdf
2 wcsecure.weblink.com.au/pdf/GUE/02943663.pdf
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250950
FAQ
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