March 28, 2024
Snow Lake Resources Ltd. (NASDAQ:LITM, Not Rated, Alina Islam) has announced that it has initiated the preliminary stages of its 2024 exploration program planned at its Engo Valley uranium project in Namibia, where it recently entered into an option agreement to earn 85% interest (read note). The preliminary work includes compilation, digitization, and analysis of all historical exploration data, including geophysics completed in the 1970s and airborne surveys conducted by the Namibian Government. Mobilization to the project site is scheduled for late April to conduct ground geophysics programs, validate previous survey data, guide the drill program, and pinpoint new target areas for further exploration. We are encouraged to see exploration activities commence at Engo Valley. As per the terms of the agreement, the company plans to spend US$200k on this exploration program, which we believe could culminate in an updated resource estimate at the project, which currently hosts a non-compliant resource of 5.68Mt at 340ppm U3O8 for 4.25M lb U3O8. Read more
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Snow Lake Resources Ltd. – NASDAQ:LITM
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