Snow Lake purchases Black Lake Uranium Project in Saskatchewan

Snow Lake Resources Ltd. has made a significant move towards becoming a clean energy materials company by acquiring a 100% interest in the Black Lake Uranium Project, located in the Athabasca Basin, Saskatchewan. The Athabasca Basin is known for hosting some of the highest-grade uranium deposits in the world, making Saskatchewan the second-largest global producer of uranium in 2022.

The Black Lake Uranium Project comprises four separate projects, including Higginson Lake, Charlebois Lake, Fisher Hayes, and Spreckley Lake, all of which have known uranium mineralization. Historical work programs conducted in the 1950s and 1970s have confirmed the presence of uranium mineralization and non-SK-1300 compliant resources on all four projects. The project covers a total of 18,908 hectares and is located to the northeast of Black Lake in Saskatchewan.

CEO of Snow Lake, Frank Wheatley, expressed excitement about the acquisition, stating that the Black Lake Uranium Project aligns perfectly with the company’s strategy of acquiring low-cost projects with historical resources. Wheatley emphasized the potential of the project, highlighting the exceptional exploration opportunities it offers in a premier uranium mining district.

With Saskatchewan playing a key role in global uranium production and boasting the highest-grade uranium deposits worldwide, the acquisition of the Black Lake Uranium Project solidifies Snow Lake’s position in the clean energy and critical minerals sector. This strategic move underscores the company’s commitment to sustainable energy practices and its vision for future growth and development in the mining industry.