Spearmint Resources Inc. (“SRJ” or the “Company”) (SRJ—TSX.V) (SPMTF—OTCBB) (A2AHL5–FSE) is pleased to announce that the first phase of exploration drilling has been completed on it’s Clayton Valley Lithium Prospect and has intersected lithium as high as 1,670 ppm Li. The three holes drilled into the clay formation all intersected lithium. Hole 1 had a range of 1670-396 ppm Li over 270 feet averaging 835 ppm Li, including 35 feet averaging 1,140 ppm Li. Hole 2 had a range of 1570-250 ppm Li averaging 642 ppm Li over 220 feet including 20 feet of 925 ppm Li. Hole 3 had a range of 1280-429 ppm Li averaging 772 ppm Li over 195 feet including 998 ppm Li over 20 feet.
James Nelson, President of Spearmint states, “We are very pleased to have achieved strong lithium numbers on our first drill program. We are now planning a follow up work program to build on this project and to try and step out to build on the potential resource. This project is located in the Clayton Valley, home of the largest Lithium production in the USA and bordering Pure Energy Minerals Ltd (PE—Tsx.v) who have a lithium supply agreement with Tesla (TSLA—Nasdaq). Lithium demand is extremely strong right now on the backs of the global explosion in the Electric Vehicle industry. We are very optimistic about what this project could mean to the future of Spearmint and eagerly look forward to 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 two lithium projects in Quebec, including the 4,485-acre ‘Pressiac 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 four 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).
Frank Bain, PGeo and qualified technical person has reviewed this news release and approved the content.
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Spearmint Resources Inc.
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