Snow Lake Resources Secures Funding for Uranium Exploration Activities

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Snow Lake Resources Secures Funding for Uranium Exploration Activities

Uranium exploration company Snow Lake Resources Ltd. has secured funding to progress its exploration programs. The company said in a media release that in 2025 it will focus on progressing its portfolio of uranium projects. The company said that experts predict nuclear energy will play a key role in supporting the world’s exponentially growing energy […]

The company said that experts predict nuclear energy will play a key role in supporting the world’s exponentially growing energy needs fueled by the growth in big data, including data centers and the advent of artificial intelligence (AI).

“We look forward to resuming our exploration programs on our Engo Valley and Black Lake uranium projects in early 2025”, Frank Wheatley, CEO of Snow Lake said. “As we watch major technology companies such as Google, Microsoft, and Amazon pursue their AI ambitions and invest in nuclear power, coupled with continuing geopolitical events, we continue to believe new sources of uranium will be required to supply the expansion of nuclear power to support those ambitions”.

Snow Lake Resources said that with the completion of the Engo Valley Phase 1 drilling program, consisting of 20 reverse circulation holes totaling approximately 1,500 meters, it now expects to receive initial assay results in early January 2025.

“The balance of the assay results, together with the results of the downhole radiometrics on each drill hole in Phase 1, are currently expected by the end of January 2025”, the company said.

Furthermore, the company said that its Engo Valley Phase 2 drill program, designed to infill and expand on the Phase 1 drill program, is currently scheduled to begin in early 2025, to be followed by a planned maiden SK-1300 mineral resource estimate during the first half of 2025.

Primarily used to fuel nuclear power plants, uranium enables the generation of clean, zero-carbon, zero-emission, reliable baseload energy, Snow Lake Resources outlined.

The company warned that current uranium supply will not meet forecasted uranium demand over the next decade. New sources of primary uranium supply, including new uranium mines, will need to be developed to meet this demand, Snow Lake Resources added.

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