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Snow Lake Energy Mobilizing Phase 2 Drill Program at Engo Valley
Winnipeg, Manitoba--(Newsfile Corp. - March 19, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and
About this update from Frontier Nuclear And Minerals Inc.
[{"type":"text","content":" Winnipeg, Manitoba--(Newsfile Corp. - March 19, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) (\"Snow Lake\"), a uranium exploration and development company, announces that mobilization has begun for the Phase 2 drill program at its Engo Valley Uranium Project (\"Engo Valley\"). Highlights Mobilization of the Phase 2 drill program is now underway Phase 2 drill program is planned to consist of up to 7,500 meters of a combination of reverse circulation and diamond drilling, and is designed to provide a drill database sufficient to calculate a maiden uranium mineral resource estimate in accordance with SK-1300 The global uranium market is currently facing a supply deficit, and after years of underinvestment in new primary uranium supply, along with geopolitical and security issues in Russia and Niger, demand for uranium remains steady due to the global need for clean energy and carbon-free electricity Following its recent capital raisings totaling ~US$37 million, Snow Lake is fully funded to undertake Phase 2, and calculate and publish a maiden mineral resource estimate for Engo Valley CEO Remarks \"We are pleased to have reached the milestone of mobilization for our Phase 2 drill program at Engo Valley,\" said Frank Wheatley, CEO of Snow Lake. \"Our objective for this program is clear - to develop a drill data base sufficient to allow us to calculate a maiden resource estimate at Engo Valley in the second half of 2025.\" \"With global demand for uranium continuing to increase due to the ongoing construction of nuclear reactors worldwide, coupled with the U.S. government's renewed focus on nuclear energy, we believe our Phase 2 drill program at Engo Valley provides us with the opportunity to delineate a potentially economic uranium resource in Namibia, currently the third largest global uranium producer. When combined with our recently announced 50/50 joint venture with Global Uranium and Enrichment Limited on the Pine Ridge Uranium Project in Wyoming, we believe we are assembling a portfolio of uranium assets with the potential to create significant shareholder value.\" Phase 2 Drill Program The Phase 2 drill program (\"Phase 2\") has been planned to consist of an aggregate of up to 7,500 meters of a combination of reverse circulation and diamond drill holes in an in-fill grid pattern sufficient to allow...