Vancouver, British Columbia–(Newsfile Corp. – October 1, 2020) – Spearmint Resources (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) has commenced a multi hole program targeting the lithium claystone formation at its Clayton Valley lithium claystone project in Nevada. The company’s Clayton Valley Lithium Prospects are comprised of two claim blocks, the Elon property and the McGee property, which total 1,160 acres and border Pure Energy Minerals and Cypress Development Corp.
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In August, Cypress reported a 55% increase in their lithium mineral resource for total measured plus indicated resource estimates of 929.6 million tonnes averaging 1,062 parts per million lithium or 5.2 million tonnes of lithium carbonate equivalent. Previous drilling by Spearmint on the McGee project intersected lithium as high as 1,670 parts per million lithium, with all three holes drilled into the clay formation intersecting lithium.
James Nelson, President, stated: “There have been a lot of discussions recently regarding Tesla and what Elon Musk said about wanting to acquire Nevada lithium clay projects at the Tesla Battery Day held September 22, 2020 and their overwhelming need to secure domestic lithium deposits to feed their Gigafactory. This drill program will follow up the past success on our initial modest drill program targeting the clay that returned grades as high 1670 ppm. That drill program occurred at a time when the general market conditions were anemic. This current multi hole drill program will be much more robust and may potentially give Spearmint the ability to delineate a potential resource on our portion of this clay deposit that we share with Cypress Development Corp. This deposit is one of the select few clay deposits that exist in Nevada of which Telsa has publicly stated they covet. Not only are we starting this significant drill program, we are currently working on the Goose Gold Project in Newfoundland being the closest property to the New Found Gold discovery hole. As well as this we expect to commence operations in October on our Perron East gold project in Quebec. As you can see, Spearmint has multiple shots on goal for potential shareholder success and we are very optimistic about what the remainder of 2020 will bring.”
Spearmint’s current projects include its 100% owned ‘Goose’ gold project, which consists of 185 acres bordering New Found Gold’s Queensway Gold Project.
In Quebec, Spearmint has the Chibougamau Vanadium Prospect bordering the vanadium deposit of BlackRock Metals and has a work program about to begin on its Perron-East Gold Prospect, which consists of 5 mineral claim blocks covering 11,608 acres located in the Abitibi greenstone belt of northwestern Quebec in the direct vicinity of Amex Exploration Inc.’s Perron property and past-producing Normetal mine.
In Ontario, Spearmint has the ‘Escape Lake North’ PGM Project bordering Clean Air Metals Inc.; the Case Lake South Cesium Project bordering Power Metals Corp.’s Case Lake Cesium Property; the River Valley East Platinum-Palladium Prospect bordering New Age Metals flagship River Valley Platinum Group Metals project; and the Carscallen West Gold Project in the direct vicinity of Melkior Resources.
Spearmint’s current projects also include a portfolio of prospects in the Golden Triangle of British Columbia. In southern BC, the company’s Hammernose Gold Prospect consists of 8,685 acres bordering Westhaven Gold’s Shovelnose Property in the Spences Bridge Gold Belt located in Southern British Columbia.
For more information about the company’s extensive portfolio of properties, including gold, lithium, platinum, palladium, copper, nickel, vanadium and cesium, please visit www.SpearmintResources.ca, contact James Nelson, President, at 604-646-6903 or email [email protected].
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