2022-05-31 06:01 ET - News Release
- Snow Lake intercepts high grade lithium in 4 separate pegmatite dykes
- Drilling Results continue to validate resource expansion across the property
- Lithium intercepts confirm growth in future starter pit on SG & Grass River
- Drilling campaign continuing to execute against previously stated objectives
Best Results:
- SGP = 1.84% Li2O over 6.32 meters (GRP-003)
- TBL = 1.36% Li2O over 17.97 meters 429.50 meters down hole (TBL-035)
- BYP = 1.50% Li2O over 7.00 meters (BYP-001)
WINNIPEG, MB / ACCESSWIRE / May 31, 2022 / Snow Lake Resources Ltd., d/b/a Snow Lake Lithium Ltd. (NASDAQ:LITM) ("Snow Lake" or the "Company") a lithium resource company committed to operating the world's first fully electric lithium mine, today is pleased to provide an update on the current drilling campaign at the Snow Lake Lithium project in Northern Manitoba.
Snow Lake's project now contains four identified dykes with high grade lithium intercepts above 1% Li2O with the TBL and GRP continuing to return positive results (see Table 1). In addition, the Company is happy to report intercepts on the SGP and BYP dykes (see Table 1). Both the SGP and BYP dykes were located and sampled during last fall's prospecting campaign (Dec 06, 2021- Snow Lake Resources Ltd. Samples Up To 6.97 WT% Li2O from its Manitoba Project).
Of note are the deep and wide intersections of TBL-035 (see Table 1) seen at 429.50 m at depth. This could indicate that this pegmatite system may continue much deeper on the project than initially anticipated. Future drilling will test the possible depth extensions of the TBL dyke.
Philip Gross CEO of Snow Lake commented "The results of the 2022 drilling campaign to date continue to impress with regard to expansion and definition. Dale Schultz VP of Resource Development and his team are delivering the necessary validation to expand the resource to our 25-year mine life target and to provide the project with a starter pit at the SG/GRP targets. In parallel, the metallurgical testing, environmental and feasibility studies are all progressing to schedule as we accelerate the project to permitting and ultimately commercial production. Our discussions now are very focused on establishing our position as a vital component in the developing vertically integrated supply chain of the North American EV ecosystem and we will continue to update the market on our progress as it advances."