Snow Lake Energy Announces Positive Preliminary Results from Drill Program at the Engo Valley Uranium Project

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Winnipeg, Manitoba--(Newsfile Corp. - November 14, 2024) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration company, announces positive preliminary ...

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}","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2483872301","pubTimestamp":1731587400,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Winnipeg, Manitoba-- - Snow Lake Resources Ltd., d/b/a Snow Lake Energy  , a uranium exploration company, announces positive preliminary results from the first eight reverse circulation drill holes on the Engo Valley Uranium Project in Namibia , and commencement of a winter drill program at the Snow Lake Lithium Project.Winter drill program initiated at the Snow Lake Lithium Project 1. Mineralised intersection of 137 ppm eU3O8 over a 20 m interval, associated with sandstone, observed from drill hole ERCH007. Equivalent uranium oxide  is calculated from data collected using a Gamma Ray Spectrometer probe - GRS 1128 , a downhole tool. The reader is cautioned that Snow Lake uses eU3O8 calculations as a preliminary indication for chemical grades that have yet to be confirmed by chemical assays. Snow Lake considers all eU3O8 readings below 50 ppm as background radioactivity, and not mineralised ground.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0757359368.USD":"SCHRODER ISF GLOBAL MULTI-ASSET INCOME \"A\" (USD)  ACC","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","UEC":"Uranium Energy Corp","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU1340139317.AUD":"JPMorgan Investment Funds - Global Macro Opportunities A (acc) AUD-H","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","MSFT":"微软","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU1032955483.USD":"NORDEA 1 STABLE RETURN \"HB\" (USDHDG) ACC","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU2362541273.HKD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (HKD) ACC","IE00BDCRKT87.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC","LU1670628061.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) INC","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","LU1235295455.SGD":"Fidelity Global Multi Asset Growth & Income A-ACC-SGD","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","LU2237443465.HKD":"abrdn SICAV I - 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Five of the eight drill holes within the area historically known as the Main Uranium Occurrence intersected uranium mineralization observable as carnotite in the drill chips.\nMineralization was confirmed with the downhole gamma spectrometer probe that was undertaken on each drill hole by TerraTec Namibia, an independent geophysics consultant that specializes in downhole probing for uranium exploration.\nThe geology of the twinned drill holes correlates to the lithologies reported in the historical drill logs of Gencor from the exploration work undertaken by them in the 1970's. Sampling was undertaken on each meter interval, and samples from the first two drill holes have been submitted to ALS for wet chemical analysis.\nDownhole Probe\nEquivalent uranium oxide (eU3O8) is calculated from data collected using a Gamma Ray Spectrometer probe - GRS 1128 (the \" Probe\"), a downhole tool. The reader is cautioned that Snow Lake uses eU3O8 calculations as a preliminary indication for chemical grades that have yet to be confirmed by chemical assays. Snow Lake considers all eU3O8 readings below 50 ppm as background radioactivity, and not mineralised ground.\nNuclear Energy and Uranium\n\nWhy Nuclear: Nuclear energy provides clean, zero-carbon, zero-emissions, reliable base-load, scalable low-cost energy with greater generating capacity per land footprint than other fuel sources\n\n\nPrimary Use of Uranium: Uranium is used primarily to produce fuel for nuclear power plants for the generation of electricity\n\n\nElectrification & AI: Global electricity demand is estimated to grow by approximately 50% by 2040, driven in large part by the growth in data centers to support artificial intelligence (AI), cloud storage and social media\n\n\nTechnology Companies & AI: Google, Microsoft and Amazon are among the technology companies turning to and investing in nuclear energy to power their energy intensive AI ambitions, including Amazon's recent $500 million investment2\n\n\nShortfall of Primary Uranium Supply: Current uranium supply will not meet forecasted uranium demand over the next decade. New sources of primary uranium supply will need to be developed to meet this demand\n\nNamibia\nNamibia is currently the world's third-largest producer of uranium, accounting for 11% of global production in 2022[3] from three currently operating uranium mines: Rossing, Husab and Langer Heinrich. Current uranium mine developments in Namibia include: Deep Yellow Limited progressing the development of its Tumas Uranium Project, with commercial production projected for 2026 and Bannerman Energy Ltd. undertaking early works activities on its Etango Uranium Project as it advances towards a final investment decision.\nQualified Person\nTechnical information in this news release has been reviewed and approved by Milton Misihairabgwi (AusIMM), a professional geologist with Namib Geological Services, who is a Qualified Person as defined by the Securities and Exchange Commission's Regulation S-K 1300 rules for resource deposit disclosure.\nAbout Snow Lake Resources Ltd.\nSnow Lake Resources Ltd., d/b/a Snow Lake Energy, is a Canadian clean energy 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 Black Lake Uranium Project is an exploration stage project located in the Athabasca Basin, Saskatchewan and the Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia. The Shatford Lake Project is an exploration stage project located adjacent to the Tanco tantalum, cesium, and lithium mine in Southern Manitoba, and the Snow Lake Lithium™ Project is an exploration stage project located in the Snow Lake region of Northern Manitoba.\nThe current focus of Snow Lake is advancing the exploration of its two uranium projects to supply the raw materials needed for the clean energy transition and emissions free power, while exploration activities on its two lithium projects will remain limited until such time as the lithium market recovers from its current depressed levels. Learn more at www.snowlakeenergy.com.\nForward-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.\n\n\n\n\nContact and InformationFrank Wheatley, CEO+1 (604) 562-1916\nInvestor RelationsInvestors:ir@snowlakelithium.comWebsite:www.snowlakeenergy.com\nFollow us on Social MediaTwitter:www.twitter.com/SnowLakeEnergyLinkedIn:www.linkedin.com/company/snow-lake-energy\n\n\n\n\n\n1 Preliminary Economic Assessment (PEA) dated July 31, 2024, as filed on EDGAR. The PEA used a spodumene price of USD$3,500 which may not be representative of current spodumene prices, as well as discount rate of 7% and a royalty rate of 1%. All references to results of the PEA in this press release is qualified in its entirety by reference to the PEA. Given the state of the current lithium market, Snow Lake does not consider the Snow Lake Lithium Project to be material to Snow Lake.2 CNBC - October 16, 20243 Fraser Institute. GlobalData's Global Uranium Mining to 2026 Report.\n\nTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/229909","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Business Data","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483872301"}