June 24, 2020 – Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the “Company”) is pleased to announce that it has expanded the Perron-East Gold Prospects to approximately 10,910 acres consisting of 6 mineral claim blocks located in the Abitibi greenstone belt of northwestern Quebec. These new claims are situated in the direct vicinity of Amex Exploration Inc.’s (AMX.v) Perron property and past-producing Normetal mine. Amex recently announced (June 19, 2020) a 200,000-metre drill program. These newly acquired Perron-East Gold Prospects cover prospective ground for orogenic gold and polymetallic VMS-(volcanogenic massive sulphide)-style mineralization in a region well known for its gold occurrences and historical production. “Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralization on the Company’s properties”
Spearmint Resources Inc. also previously announced (June 19, 2020) that the Company is formulating plans for lithium in Nevada. Spearmint has two separate claim blocks in Nevada that are prospective for lithium known as the Elon property (Brine) and the McGee property (Clay) which cover an aggregate area of 1,160 acres. Exploration drilling had been completed (announced April 17, 2018) on its Clayton Valley Lithium Projects (McGee property) 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, stated “The acquisition of this strategic new acreage adds a key piece to our Perron-East project. The spot price of gold has been steadily rising and the general sentiment towards the exploration market has been increasingly positive. We have flow through funds on hand and are excited to begin work on the claims package. We also look forward to getting back to work on our lithium in Clayton Valley. There has been an incredibly positive trend in the lithium space recently, especially in Nevada, and we have previously had drilling success on our McGee clay formation project (refer to map) bordering Cypress Development Corp. (CYP-TSX.v).”
Mr. Greg Thomson, P.Geo., a director of Spearmint and a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this news release. These new claims were acquired via Gestim.
About Spearmint Resources
Spearmint’s current projects include the ‘Clayton Valley Lithium Prospects’ in Nevada comprising of two claim blocks totaling 1,160 acres bordering Pure Energy Minerals (PE.v) & Cypress Development Corp. (CYP.v) where Spearmint’s drill results have intersected Lithium values as high as 1670 ppm Li; the ‘Escape Lake North’ PGM Project in Ontario consisting of ~4,000 contiguous acres directly bordering Clean Air Metals Inc. (AIR.v); the Case Lake South Cesium Prospect in Ontario consisting of ~5,000 contiguous acres directly bordering Power Metals Corp.’s (PWM.v) Case Lake Cesium Property; the River Valley East Platinum-Palladium Prospect in Ontario consisting of approximately 4,700 contiguous acres directly bordering New Age Metals (NAM:CSE) flagship River Valley Platinum Group Metals (PGM) project; the Carscallen West Gold Project in Ontario consisting of a ~2500 contiguous acres in the direct vicinity to Melkior Resources Inc. (MKR.v); the Perron-East Gold Prospects consisting of 5 mineral claim blocks covering ~10,910 acres located in the Abitibi greenstone belt of northwestern Quebec in the direct vicinity of Amex Exploration Inc.’s (AMX.v) Perron property and past-producing Normetal mine; and the ‘Chibougamau Vanadium Prospect’ comprising of 15,493 contiguous acres directly bordering the vanadium deposit of BlackRock Metal’s (private) Ilmenite vanadium project.
Spearmint’s current projects also include a portfolio of prospects in the Golden Triangle of British Columbia; the ‘Golden Triangle Gold Prospects’ comprising of five separate claims blocks totaling 8,265 acres bordering GT Gold Corp (GTT.v), the 6,805 acre ‘NEBA’ Gold-Copper Prospects bordering Aben Resources Ltd (ABN.v), and the ‘EL North’ Nickel-Copper Prospect is a contiguous land package of 1,053 acres in the Eskay Creek Camp bordering Garibaldi Resources Corp (GGI.v), as well as the recent acquisition of the 4,980 acre ‘Prickle’ property bordering Brixton Metals Corp. (BBB.V).
Spearmint’s other projects in British Columbia include the ‘Safari’ Copper-Gold Prospect consisting of 9,007 contiguous acres located in the northern Quesnel Trough in North-Central BC, and the ‘Hammernose’ Gold Prospect consisting of 5,910 acres directly bordering the strategic alliance between Westhaven Resources Inc. (WHN.v) & Sable Resource Ltd. (SAE.v) in the Spences Bridge gold belt located in Southern British Columbia, Canada.
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Spearmint Resources Inc.
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