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Jul 9th 2017!⃝Holding the mystical sphere - glass bowl pipe
Straight from Lhasa - where they're rolling in the snow far from the world we know - Lhasa is part of Tibet, and a known trafficking center for opium/heroin; rolling in the snow may be referring to "rolling in heroin" because of the volume of trafficking, the area having heavy heroin use, or - well - the weather? The last part of the line is likely referring to heroin use in Lhasa, but could be about the actual location.
Tonight when I chase the dragon, - Chasing the dragon is the term for smoking heroin. Some people refer to it as Speedballing, which is actually mixing heroin and cocaine, and injecting it. The reference to smoking heroin has been around much much longer.
The water may change to cherry wine
And the silver will turn to gold
THis part of the verse is indicative of the hallucinogenic effects of heroin.
Time out of mind - this likely has many meanings; one cannot really control the amount of time a heroin high is going to last, especially since it is highly addictive and creates very high tolerance in the human body. The same amount used the week before may not last as long the following week. Additionally, the majority of hallucinogenic drugs can have a time bending effect - hours may pass, but it may feel like a lifetime.