WINNIPEG, MB / ACCESSWIRE / November 30, 2021 / Snow Lake Resources Ltd. (NASDAQ:LITM) ("Snow Lake" or the "Company"),has added significant acres to its exploration properties in Manitoba by staking additional claims contiguous with its current claim block that contains its lithium resource. The new Herb Block consists of 22 claims or 7,875 acres (3,187 ha) thereby increasing the Company's total footprint to 21,703 acres (8,783 hectares) (See Figure 1.0 below). Snow Lake had 13,828 staked acres (5,596 ha) prior to this expansion and the Herb Block represents a 57% increase in the Company's exploration claims by acres.
There are several geological indications based on the Company's compiled data that show potential for the development of additional pegmatite dyke swarms within the newly acquired concession block.
Snow Lake VP of Resource Development Dale Schultz commented, "Our Snow Lake project has been historically known to contain lithium bearing pegmatites that were first documented in the 1930s and 1940s. Based on our compilation of historic data we know there exist other pegmatite clusters within the Herb Block that have not yet been evaluated for lithium. Our goal is to follow up on these clusters with the objective of developing future tonnes that will be added to our current lithium bearing resource base."
Snow Lake CEO Philip Gross commented "As we focus on our path to production with our current substantial resource, our concurrent objective is to continue exploration activities that will contribute significant additional resource tonnage and optimize our future operating costs accordingly. The Herb Block will hopefully be a major contributor to our resource and an important factor in achieving critical mass and cost reductions"
Figure 1.0 - Location Map of the Herb Claim Block
About Snow Lake Resources Ltd.
Snow Lake Lithium is committed to operating a fully renewable and sustainable lithium mine that can deliver a completely traceable, carbon neutral and zero harm product to the electric vehicle and battery markets. We aspire to not only set the standard for responsible lithium battery mining, but we intend to be the first lithium producer in the world to achieve Certified B Corporation status in the process.
Our wholly owned Thompson Brothers Lithium Project covers a 21,703-acre site that has only been 3% explored and contains an 11.1 million metric tonnes indicated and inferred resource 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 contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "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 Snow Lake Resources Ltd.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict and include statements regarding the expected use of proceeds and expected closing. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the final prospectus related to our public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no duty to update such information except as required under applicable law.
SOURCE: Snow Lake Resources Ltd.