Snow Lake Resources (LITM) Announces Top Results from Winter Drilling Campaign


News and research before you hear about it on CNBC and others. Claim your one week free trial for StreetInsider Premium here.


Snow Lake Resources Ltd., d/b/a Snow Lake Lithium Ltd. (NASDAQ: LITM) is pleased to report today the first results of its winter drilling program at the northeast extension of its Thompson Brothers (TBL) spodumene-bearing pegmatite deposit located in northwestern Manitoba. . These results represent only the first 3 holes of a total of 40 holes that Snow Lake has submitted for analysis. The Company remains firm in its ongoing initiatives to accelerate the time to obtain analytical results.

The best intercept was from TBL-027 with an intercept of 1.49% LiO2 more than 34.5m. Additionally, hole TBL-025 returned an intercept of 1.52% Li2O over 18.0 m located near the surface. The other holes completed to date demonstrate the “pinched and swollen” character of the crystallization on the northeast extension of the TBL deposit. We believe that the deep undercut intercept in TBL-029 contains up to 20% spodumene, but analysis of the results from these core samples is still pending (see Table 1.0, Figures 1.0 and 2.0 ).

The Thompson Brothers dyke appears to extend beyond 500 meters in depth. Additional drilling will be required to continue to define the deposit along the northeast strike. As previously published (January 31, 2022 – Snow Lake extends 10% strike on first hole of winter drilling campaign), we believe that the northeast extension of our TBL deposit is very promising for the location of a future open pit to begin mining our Thompson Brothers resource.

CEO Philip Gross commented on the results: “The first three holes, while representing only a fraction of our samples submitted to date, are incredibly important in that they validate the identification of our external targets. that will lend themselves to an open-pit start-up strategy. This will facilitate the development of a commercial mining operation with significantly improved capex while continuing to expand our lithium resources. Once all results are available, we will be able to update the resources accordingly. In the meantime, our spring drill program is continuing with helicopter support and we are very encouraged by the results to date. Like the rest of the mining industry, we are suffering from the frustration of a season busy mine and the resulting lab backlog. We are doing everything we can to accelerate the results of our successful drilling campaign and m and update the market accordingly. We continue to focus on achieving our milestones and accelerating our progress to become North America’s first fully renewable, fully electric lithium mine in full commercial production. »

host rock – The TBL dyke cuts rocks of the Missi Group (1.85-1.83 Ga), which are mainly sedimentary rocks composed of heterolithic conglomerates, greywackes and sandstones. There are occasional basaltic to andesitic dykes and sills in the assemblage observed in the drill core. Greywackes are generally composed of fine-grained quartz and biotite, while the conglomerate matrix is ​​composed of biotite, actinolite, chlorite and small garnets (2-3 mm). The mineral assemblage is typical of rocks of the upper greenschist to lower amphibolite metamorphic facies.

crystallized pegmatite – The TBL TB-1 pegmatite dyke is oriented 040° and dips about 85° SE, cutting rocks of the Missi Group. The dyke mineralogy is typical of lithium-bearing pegmatite dykes and consists of K- or albitic-feldspars, quartz, muscovite and to a lesser extent biotite, tourmaline and rare garnets and very rare beryl. The lithium-bearing mineral is spodumene, which varies widely in grain size and distribution in the dyke. Spodumene crystals can vary in size from 1 cm to over 10 cm. The distribution of crystals in the dyke intersections is sporadic, with some sections containing up to 25-30% spodumene, and other sections spodumene poor, suggesting multiple pulses of fluids and crystalline slurry from the parent granitic magma. The mineralogy and mineral zoning of the dyke(s) will be further investigated over the next few months.

Analytic – The half cores are sent to the SGS Lakefield laboratory in Ontario for analysis. The carrots are initially ground to a size of -12.7mm, then chipped to 75% passing 2mm and finally extruded into a 250g paste which is pulverized to 85% passing 75 microns. Samples are fused with sodium peroxide and run on ICP-AES and/or ICP-MS generating analyzes of 56 elements.

Declaration of qualified person – The information in this press release has been compiled and reviewed by Dale Schultz, a Qualified Person as defined by SEC SK 1300 Rules for Disclosure of Mineral Deposits, and a Professional Geoscientist (P.Geo.) who is a registered member of the Engineer and Geosciences of Manitoba (#24846), a “Recognized Professional Organization” (RPO). Mr. Dale Schultz is the Project Manager and Vice President of Resource Development at the Snow Lake Lithium Project and has sufficient experience relevant to the crystallization of the LCT-type pegmatite deposits being evaluated.

Table 1.0 – List of interceptions cited in the press release

Snow Lake Resources Ltd., Monday, May 2, 2022, press release image

Figure 1 – Plan view map showing section line 1600

Snow Lake Resources Ltd., Monday, May 2, 2022, press release image

Figure 2 – 1600 cross-section illustrating the holes listed in the release.

Hole_ID

UTM X

UTM O

Depth

Azimuth

Dip

TBL-025

6078796.60

454532.564

209.00

300

-45

TBL-026

6078796.20

454533.095

164.00

300

-70

TBL-027

6078775.82

454596.272

347.00

300

-75

NAD83 – UTM Zone 14 – DGPS

Table 2.0 – UTM location, azimuth and dip of DDH listed in release.

Snow Lake Resources Ltd., Monday, May 2, 2022, press release image

Table 3.0 – List of significant LiOs2 samples for DDH listed in version

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 intend to be the first lithium producer in the world to achieve Certified Company B status through the process.

Our wholly owned Thompson Brothers Lithium Project covers a 55,318 acre site that has only been 1% explored and contains an identified resource to date of 11.1 million indicated and inferred metric tonnes at 1% Li2O.

Forward-looking statements

This press release contains “forward-looking statements” 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. Forward-looking statements in this press release can be identified by the use of words such as “anticipate”, “believe”, “intend”, “could”, “estimate”, “expect”, “have the ‘intent to’, ‘seek,’ ‘may’, ‘could’, ‘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 the current expectations of Snow Lake Resources Ltd. and are subject to uncertainties, inherent risks and assumptions that are difficult to predict and include statements regarding the intended use of proceeds and expected closing. In addition, certain forward-looking statements are based on assumptions about future events that may not prove to be accurate. These risks and uncertainties, as well as others, are described more th n detail in the section entitled “Risk Factors” of the final prospectus relating to our public offering filed with the Securities and Exchange Commission and other documents and reports that we file with the Securities and Exchange Commission. The forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. assumes no obligation to update this information, except as required by applicable law.

Contact: [email protected]
www.SnowLakeLithium.com
Twitter: @SnowLakeLithium

THE SOURCE: Snow Lake Resources Ltd.

See the source version on accesswire.com:
https://www.accesswire.com/699636/Snow-Lake-Lithium-Announces-First-Results-from-its-Winter-Drilling-Campaign