July 8, 2024
Snow Lake Resources Ltd. (NASDAQCM:LITM, Not Rated, Alina Islam) provided an update on its portfolio of projects and corporate strategy for the remainder of 2024. The company has two uranium and two lithium projects in its portfolio and given the current state of the lithium market, has announced that it will no longer be completing any exploration including drilling at its namesake Snow Lake lithium project in Manitoba. Exploration work is to continue at the Shatford Lake project, but drilling will depend on results from its ongoing prospecting and sampling program. Once lithium prices and the market recovers, management will evaluate next steps for the Snow Lake lithium project. With this announcement, the company has confirmed that all focus has shifted to its two uranium projects, including its Engo Valley uranium project in Namibia, where a ~1,000m RC drill program is underway following results from a radon cup survey (read notable). We view this announcement positively and had expected the company to shift its strategy, as the uranium market has fared much better than the lithium market over the last year. We look forward to seeing the current drill results from Engo Valley, as well as future exploration plans for 2024. Read more
Company Specific Disclosure Details
Snow Lake Resources Ltd. – NASDAQCM:LITM
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