Snow Lake Resources Ltd. announced the successful completion of its Phase 1 drill program at the Engo Valley Uranium Project, confirming significant uranium mineralization. This program consisted of 1,570 meters of reverse circulation drilling across 20 holes, validating historical discoveries from the 1970s.
Downhole radiometrics were completed on each Phase 1 drill hole, providing preliminary indications of chemical grades. The company is now preparing for an ambitious Phase 2 drill program, which is planned to consist of up to 7,500 meters of drilling.
Mobilization for Phase 2 is scheduled for March 2025, with the goal of developing a drill data set sufficient for a maiden mineral resource estimate in the second half of 2025. Snow Lake is well-positioned to execute this program with over $30 million in cash and equivalents from recent equity financings.
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