Snow Lake acquires Black Lake Uranium Project in Saskatchewan

Highlights:

• Snow Lake’s transition to a clean energy materials company continues with the acquisition of the Black Lake Uranium Project, located in the Athabasca Basin, Saskatchewan.
• Saskatchewan was the second-largest global producer of uranium in 2022 and accounted for 15% of the world’s primary uranium production.
• Saskatchewan also hosts the world’s largest, highest grade uranium deposits, and is the source of almost a quarter of the world’s uranium supply for electrical generation.
• The Black Lake Uranium Project consists of four separate projects, being Higginson Lake, Charlebois Lake, Fisher Hayes and Spreckley Lake, each of which hosts know uranium mineralisation.
• Historic work programmes in the 1950s and 1970s confirmed the presence of uranium mineralisation and non-SK-1300 compliant resources on all four projects.
• The Black Lake Uranium Project covers a total of 18 908 ha. and is situated to the northeast of Black Lake.
• Historic trench sampling results from the 1950’s indicate up to 1.57% U3O8.

“As we continue to expand our portfolio of clean energy and critical mineral projects, we feel that the acquisition of the Black Lake Uranium Project fits nicely with our strategy of acquiring low entry cost projects with historical resources,” commented Frank Wheatley, CEO of Snow Lake. He continued: “With Saskatchewan being a global leader in uranium production, together with having the highest-grade global uranium deposits, we feel the Black Lake Uranium Project gives us an excellent, prospective exploration project in a premier uranium mining district.”

Read the article online at: https://www.globalminingreview.com/mining/29042024/snow-lake-acquires-black-lake-uranium-project-in-saskatchewan/