- Snow Lake Resources (NASDAQ: LITM) invests strategically in U.S. critical minerals projects.
- The company commits AUD$1.4 million to GTi Energy's uranium project in Wyoming.
- Investments also include a 5% stake in Resolution Minerals and C$1.1 million in Commerce Resources.
Snow Lake Resources (NASDAQ: LITM) has announced significant strategic investments across multiple critical minerals projects in the United States. The initiative is aimed at aligning with U.S. policies on developing domestic supply chains for these essential resources.
The company has allocated AUD$1.4 million to GTi Energy's Lo Herma uranium project in Wyoming's Powder River Basin. The project boasts a JORC resource of 8.7 million pounds of U3O8, a projected seven-year mine life, and an expected annual production capability of 800,000 pounds of U3O8. The scoping study indicates a strong economic outlook with a Net Present Value (NPV) of A$100 million and a pre-tax Internal Rate of Return of 56%.
In the realm of antimony, Snow Lake has acquired a strategic 5% stake in Resolution Minerals for the Horse Heaven project in Idaho. This project is situated adjacent to Perpetua's Stibnite Project, valued at USD$2.2 billion, which is expected to fulfill approximately 35% of the U.S. antimony demand, essential for the defense industry.
Additionally, Snow Lake has invested C$1.1 million in Commerce Resources for their Ashram rare earth project in Quebec. This project is one of North America's largest undeveloped deposits, with an estimated 204.3 million tonnes averaging ~1.94% Total Rare Earth Oxides (TREO).
These investments reflect Snow Lake's strategic alignment with U.S. government initiatives to enhance domestic production of critical minerals, ensuring supply chain security and supporting industrial advancements in technology and defense.
