Business
Snow Lake Expands Lithium Portfolio with Mineral Claims Next to Tanco Mine
Winnipeg. Manitoba--(Newsfile Corp. - December 20, 2023) - Snow Lake Resources Ltd., d/b/a Snow Lake Lithium™ (NASDAQ: LITM) ("Snow Lake" or the "Company") is p
About this update from Frontier Nuclear And Minerals Inc.
[{"type":"text","content":" Winnipeg. Manitoba--(Newsfile Corp. - December 20, 2023) - Snow Lake Resources Ltd., d/b/a Snow Lake Lithium™ (NASDAQ: LITM) (\"Snow Lake\" or the \"Company\") is pleased to announce that it has entered into a binding letter of intent (\"LOI\") with ACME Lithium Ltd. (\"ACME Lithium\") to acquire a 90% undivided interest in a group of mineral claims 100% owned by ACME that adjoin the Tanco lithium mine in Southern Manitoba (the \"Project\"). Highlights 31 mineral claims directly adjoining the Tanco lithium mine in Southern Manitoba First Stage Option to acquire a 51% interest in the Project upon incurring CAD$600,000 in exploration expenditures within the next 12 months Second Stage Option to acquire an additional 39% interest in the Project upon incurring an additional CAD$1,200,000 in exploration expenditures within the next 24 months ACME Lithium retains a 10% free-carried interest in the Project CEO Remarks \"We are extremely pleased to have entered into this letter of intent with ACME Lithium Ltd. for a large, highly prospective land position immediately adjacent to the Tanco Mine,\" commented Frank Wheatley, CEO of Snow Lake. He continued: \"This agreement with Acme Lithium reflects our disciplined approach to expanding our portfolio of Manitoba lithium projects to complement our Snow Lake Lithium™ project.\" Agreement to Acquire Mineral Claims Adjacent to Tanco Mine Snow Lake and ACME Lithium have entered into a binding letter of intent (the \"LOI\") with respect to 37 mineral claims 100% owned by ACME Lithium with 31 that adjoin the southern boundary of the Tanco lithium mine in Southern Manitoba. The project (the \"Shatford Lithium Project\") consists of the following mineral claims: Shatford Lake: 21 claims totalling 8,883 acres (3,595 hectares) Birse Lake: 10 claims totalling 5,196 acres (2,102 hectares) Cat-Euclid: 6 claims totalling 2,930 acres (1,186 hectares) Key terms of the LOI are included in Appendix A. Shatford lake Project The Shatford Lake and Brise Lake mineral claims are set forth on the map below: The Cat Lake / Euclid Lake mineral claims are set forth on the map below: Geological Setting of Shatford Lithium Project The Shatford Lithium Project straddles a 15 kilometers long structural trend of the Greer-Shatford Shear Zone with numerous pegmatite dykes and favorable host rocks. It is situated in ...