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Snow Lake Resources (NASDAQ: LITM) is proud to announce the receipt of a Manitoba Mineral Development Fund grant in the amount of CAD $157,500 to help fund the ongoing winter drilling campaign.
The previous Manitoba Mineral Development Fund grant of $62,000 ( Snow Lake Lithium Ltd. receives a government grant of CA$62,000 ) has been used in the ongoing geophysical drone campaign ( Early Snow Lake Lithium results from Drone Mag investigation identify several anomalies and potential targets on Sherritt Gordon ) which is proving extremely beneficial in identifying additional pegmatites on the 86 square mile property. The current drilling campaign includes three drills operating 24 hours a day, 7 days a week ( Snow Lake Announces Important Update on the Progress of the Winter Drilling Campaign ) through the original resource at Thompson Brothers as well as external targets at Grass Rivers, BYP and Sherritt Gordon. The strategy is to expand the existing resource while identifying additional resources that will serve as a starter pit for commercial mining.
The new grant will help cover the costs associated with the next phase of the drilling campaign as we transition from ice roads to helicopter drilling over the spring and summer months. With current resources of 11.1 million metric tonnes indicated and inferred resources at 1% Li2O and a mine life of ten years, the ambition now is to multiply the resource and extend the mine life by several decades. Snow Lake was aided in these efforts by Quesnel Bros. Diamond Drilling Ltd. from Denare Beach, Saskatchewan; BRL Drilling Temagami Drilling, Ontario; and Heli Source Ltd. based in Snow Lake, Manitoba.
Picture 1 – Heli Source Ltd. Helicopter
At the same time, Snow Lake continues to advance environmental, engineering and feasibility programs to achieve the milestones necessary for commercial production.
Chuck Davidson, President and CEO of the Manitoba Chamber of Commerce and Chair of the Manitoba Mineral Development Fund, said, “Snow Lake Lithium is invigorating and redefining the mining industry in Manitoba by facilitating the advancement of traditional mining towards a new era of environmentally friendly extraction. that will help our industry move into the next century in a sustainable way. Philip Gross and his team have demonstrated a strong commitment to ESG principles and to ensuring that Manitoba can play a vital role today in creating a better tomorrow. On behalf of Manitoba, we are proud to collaborate again and help Snow Lake achieve production.”
Philip Gross, CEO of Snow Lake Lithium, added, “We are extremely grateful to the Board of Directors of the Manitoba Mineral Development Fund for their recognition and support of our project. We remain committed to Manitoba and its ideals of a green future and a sustainable economy. Manitoba is the ideal geographic location in North America to benefit from fleet electrification, with its abundance of natural resources, access to clean energy, advanced logistics, infrastructure and a motivated population. future in Manitoba and Canada as we continue this journey towards an all-electric, all-renewable future. »
Image 2 – Snow Lake crew holding drill core from current drilling
Map 1 – Map showing the location of the BYP, SGP and GRP pegmatites
About the Manitoba Minerals Development Fund (MMDF)
The Manitoba Mineral Development Fund (MMDF) is a $20 million initiative of the Province of Manitoba administered by the Manitoba Chambers of Commerce. MMDF offers grants to support northern economic development and mining projects that create partnerships, increase local employment and stimulate investment in northern Manitoba. More information about MMDF can be found at: Home – MMDF.
About Snow Lake Resources Ltd.
Snow Lake Lithium is committed to creating and operating a fully renewable and sustainable lithium mine that can provide a fully traceable, carbon neutral and safe product for the electric vehicle and battery markets. We not only aspire to set the standard for responsible lithium mining, but we aim to be the first lithium producer in the world to achieve Certified Company B status in the process.
Our wholly-owned Thompson Brothers lithium project covers a 55,318-acre site that has only been explored at 1% and contains an identified resource to date of 11.1 million metric tonnes indicated and inferred at 1% Li2O.