Sherritt Gordon

Lithium Potential at Sherritt Gordon

Lithium Potential at Sherritt Gordon 3300 2550 Snow Lake Resources

Suite 2905, 77 King St W, Toronto, ON M5K 1A2

SURFACE SAMPLES OF UP TO 3.78% LI2O CONFIRMS NEW LITHIUM BEARING PEGMATITE DISCOVERY AT SHERRITT GORDON

Rock chip sampling identifies multiple spodumene occurrences

Highlights

  • Initial prospecting at the Sherritt Gordon cluster records values of between 2.15 and 3.78% Li2O.
  • The newly discovered spodumene-bearing pegmatite in this cluster, now called the Grass River pegmatite, returned the highest value of 3.78% Li2O.
  • The host pegmatite’s samples are from fresh surfaces containing no oxidation or weathering.
  • Significant upside due to the lack of previous exploration in the area
  • Initial drilling of Grass River planned for late 2018/early 2019.

NOVEMBER 26, 2018, TORONTO, ONT. – SNOW LAKE RESOURCES LTD. (IPO date early 2019) (“Snow Lake”, “SNOW” or the “Company”) is pleased to announce that initial reconnaissance prospecting at Sherritt Gordon has recorded multiple occurrences of high grade lithium mineralisation (>1.5% Li2O/Figure 1) over an extensive area, with results including:

  • SG1802 (104902)= 3.78 % Li2O – Grass River Pegmatite – Photo 1.0
  • SG1804 (104901) = 2.15 % Li2O – SG – Pegmatite – Photo 2.0

Following Nova’s discovery (ASX Release 28 August 2018) as part of compilation work of historical data, the SNOW team have discovered details on a cluster of spodumene-bearing pegmatite dykes located about 2 km southwest of the recently drilled Thomson Brothers pegmatite (Figure 1).

This cluster, known as the Sherritt Gordon (SG) pegmatites, intrudes the outermost quartz diorite phase of the Rex Lake Pluton and was traced about 600 m along strike (Figure 2) by Sherritt Gordon Mines in the 1940s. Dyke SG-1 ranges from 1.5 to 5 m in width and dips 80o to the southwest. Dyke SG-2 is thinner and located about 70 m to the northeast of SG-1 and dips 50o – 70o southwest. 

In 1942, the SG-1 pegmatite was drill tested by Sherritt Gordon, and a total of twenty-one shallow drill holes totaling 608 m were completed at angles of -35o with a azimuths of 028o (Figure 3). Rather than reporting assays for Li2O, results in the historical drill logs are reported in “Gravitational Determination Percent Spodumene”. This historical drilling yielded average spodumene contents ranging from 7.22 – 31.9 percent over widths ranging from 1.52 – 5.79 m core length (Table 1). The data contained within Table 1 is a recalculation of percent spodumene from data obtained in the 1942 drill logs. Data for hole SG-08 was not available within the drill log data file.

SG and Grass River pegmatites remain open along strike in both directions and at depth. Dyke SG-2 was never drilled historically. The SG pegmatites are interpreted to have intruded late stage, sub parallel en-echelon, dilatational fractures. If both dykes are projected to depth they could merge or intersect at a depth of approximately 160 m.

SNOW intends a follow up drilling program to evaluate the SG-1, 2 and Grass River pegmatites which could contribute to increasing the overall resource inventory of the Thompson Brothers Lithium Project.

Figure 1: Map showing pegmatite locations and rock chip samples

Derek knight, CEO of Snow Lake Resources said, “We are pleased that these samples have confirmed the types of grades we expected and that they have opened a new pegmatite field to compliment the Thompson Brothers Lithium project that are located close to key mining infrastructures in the Snow Lake Mining Camp. We remain focussed on our goal of fast tracking to increase the resource and develop the project to add value for our shareholders. Our exploration team is currently in Snow Lake preparing for the Resource Drilling Campaign that we anticipate commencing in December 2018.”

ON BEHALF OF THE BOARD

Signed “Derek Knight”

Derek Knight

CEO

For further information, please contact:

Derek Knight

Derek@SnowLakeResources.com

Competent Person Statement

The information in this announcement that relates to Exploration Results is based on information compiled by Mr. Dale Schultz. Mr. Schultz is a member of the Association of Professional Engineers and Geoscientists of Saskatchewan (APEGS), which is ROPO, accepted for the purpose of reporting in accordance with ASX listing rules. Mr Schultz has sufficient experience relevant to the style of mineralization and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Schultz consents to the inclusion in the report of the matters based on information in the form and context in which it appears.

Forward-Looking Statements:

Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Progressive Planet Solutions Inc. Actual results may differ materially from those currently anticipated in such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Photo 1.0 – SG1802 (104902)= 3.78 % Li2O – Grass River Pegmatite

Photo 2.0 – SG1804 (104901) = 2.15 % Li2O – SG – Pegmatite