Spearmint Resources Inc. (“SRJ” or the “Company”) (SRJ—TSX.V) (SPMTF—OTCBB) (A2AHL5–FSE) is very pleased to announce that the first drill program on Spearmints Lithium Project in the world-renowned lithium basin in Clayton Valley, Nevada has now commenced. The plan calls for 3 wells testing the green clay formation and 1 deep well testing the deep brine target located less than 1/2 mile east of a Pure Energy Minerals exploration hole that was completed as a production well.
James Nelson, President of Spearmint states, “We are very pleased to commence this multi-hole and multi-target lithium drill program. The Clayton Valley is home to the only brine deposit in production in North America and we are optimistic about being directly bordering this producing basin. The lithium market is seeing strong internal drivers such as the electric car battery growth and battery sector. This project is in the same state as the Tesla Gigafactory and we are drilling into the same basin that Tesla has an agreement for lithium with. We have just completed a financing so we are fully cashed up to undertake this initial drill program for lithium and we also expect to be active in Quebec for Vanadium and in the Golden Triangle of BC for potentially gold, nickel and magnesium. 2018 will be one of the most active years in recent history for Spearmint and we are very enthusiastic about what will transpire.”
Spearmint’s current projects include a portfolio of lithium projects. The ‘Clayton Valley Lithium Prospects’ in Nevada comprise of two claim blocks totalling 800-acres bordering Pure Energy Minerals (PE.v) & Cypress Development Corp. (CYP.v). Spearmint also has three lithium projects in Quebec, including the 4,485-acre ‘Pressiac Lithium Prospect’, the 524-acre ‘Whabouchi Lakes Lithium Prospect’, and the 2,636-acre ‘Whabouchi Lakes West Lithium Prospect’ in the vicinity of Nemaska Lithium Inc. (NMX.t) & Critical Elements Corp. (CRE.v).
Spearmint’s ‘Chibougamau Vanadium Prospects’ comprise of five separate claim blocks totalling 9,735-acres bordering, or in the direct vicinity of, the vanadium deposit of BlackRock Metal’s (private) Ilmenite vanadium project, Vanadiumcorp Resource Inc. (VRB.v) and Vanadium One Energy Corp. (VONE.v).
Spearmint’s current projects also include three areas of focus on gold in British Columbia; the ‘Golden Triangle Gold Prospects’ comprising of four separate claim blocks totaling 4,095-acres bordering GT Gold Corp (GTT.v), the ‘Gold Mountain Prospects’ comprising of three separate claim blocks totaling 1,245-acres bordering Barkerville Gold Mines (BGM.v), and the 3,052 acre ‘Neba Prospect’ bordering Aben Resources Ltd (ABN.v). Spearmint’s 8,482 acre ‘EL North’ Nickel-Copper Prospect is a contiguous land package that includes the ‘EL North, EL North 2 and the BUDDY claims’ in the Eskay Creek Camp bordering Garibaldi Resources Corp (GGI.v). Spearmint’s 1,500 acre ‘WHY WEST’ Magnesium project near Rossland, BC directly borders West High Yield Resources (WHY.v).
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Spearmint Resources Inc.
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