June 19, 2020 – Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the “Company”) is pleased to announce the company is planning to start up operations on its Clayton Valley Lithium Projects in Nevada. Plans are now being formulated by management. Spearmint has two separate claim blocks in Nevada that are projective for lithium known as the Elon property (Brine) and the McGee property (Clay) which cover an aggregate area of 800 acres.
Spearmint Resources Inc. previously announced that 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 “We look forward to getting back to work on our two lithium projects 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). Cypress has recently (June 3, 2020) announced their pre-feasibility study on its lithium clay project that Spearmint directly borders. Additionally, we have begun discussions with strategic metallurgists currently working in the area to advise on current lithium extraction processes within claystone formations. American Lithium Corp. (LI-TSX.v) has also recently announced (June 17, 2020) positive testing results from the process used for lithium extraction on its claystone deposit in Nevada.
In regards to Spearmints deep brine lithium project in Clayton Valley (Elon property), Schlumberger Technology Corporation (SLB-NYSE) has begun drilling a well to test and develop Pure Energy Mineral’s Clayton Valley Project (announced May 19, 2020). When a major company like Schlumberger is drilling on the property right beside Spearmint, it is a clear indication to us that our lithium projects in Nevada and Clayton Valley garner immediate attention. On top of our Nevada lithium program, we have flow-through cash that we plan to deploy in the coming weeks on our Canadian projects. Clearly the next few months will be active for Spearmint in terms of work programs, at a time when the general sentiment towards junior mining companies has turned positive.”
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. 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.
About Spearmint Resources
Spearmint’s current projects include the ‘Clayton Valley Lithium Prospects’ in Nevada comprising of two claim blocks totalling 800 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 ~10,000 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 projects in the Golden Triangle of British Columbia; the ‘Golden Triangle Gold Prospects’ comprising of five separate claims blocks totalling 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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