Spearmint Resources Inc. has three separate claim blocks in Nevada that are prospective for lithium known as the 880-acre ‘McGee Lithium Clay Project’, the recently acquired 2,004-acre ‘Green Clay Lithium Project’, and the 280-acre ‘Elon Lithium Brine Project’, covering an aggregate area of 3,164 acres.
In recent news announced on February 4, 2022, Spearmint has completed its phase III drill program on its flagship 100-per-cent-owned McGee Lithium Clay Project in Clayton Valley, Nevada. Drill hole 18, from the phase III drill program has set a new record for the project, encountering a massive 652 feet of continuous potential lithium-bearing claystone, directly bordering Cypress Development Corp. and Pure Energy Minerals Ltd. To date, this is the longest continuous clay intercept discovered on the McGee lithium clay project and the farthest step-out hole to the west, at approximately 3,700 feet from any drill hole from previous phases of drilling. On Jan. 21, 2022, Spearmint announced that drill hole 15 of this phase III drill program on McGee, encountered 562 feet of continuous potential lithium-bearing claystone, which was the longest to date at that point. 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.
The targeted potential lithium-bearing claystone was encountered in four holes drilled on the phase III drill program, including two massive intercepts of 562 feet (hole 15) and 652 feet (hole 18) of continuous claystone. These holes are two of the longest continuous intercepts of claystone recorded in the history of Clayton Valley, Nevada. Samples from the phase III drill program have been immediately sent to ALS for assaying on a rush basis. The goal of this phase III drill program is to increase the maiden resource estimate by using the drilling recommendations provided by Stantec in the Technical Report.
Spearmint’s ‘McGee Lithium Clay Project’, formerly known as the ‘Clayton Valley Lithium Clay Project’ 43-101 Technical Report includes a maiden resource estimate of 815,000 indicated tonnes and 191,000 inferred tonnes for a total of 1,006,000 tonnes of Lithium Carbonate Equivalent (LCE). Recently, Spearmint has discovered Lithium in all 10 out of 10 drill holes of the phase II drill program on its Clayton Valley Lithium Clay Project in Nevada achieving a 100% success rate, directly bordering Cypress Development Corp. (CYP – TSX.v, CYDVF – USA). During this phase II drill program, Spearmint has discovered its highest drill core lithium values to date of 1,840 ppm Li (see map) & Hole-6 returned the best results achieved to date with an average lithium value of 966 ppm Li over 220 continuous feet, including a high value of 1490 ppm. Results from the final 5 drill holes include: Hole #11 hitting a high of 1490 parts per million lithium (ppm Li) within 235 feet averaging 817 ppm Li, including 110 feet averaging 1020 ppm Li starting at 20 feet from surface. Hole #12 hit a high of 1370 ppm Li within 105 feet averaging 1042 ppm Li, starting at 10 feet from surface. Hole #10 had a high of 1360 ppm Li. Hole #13 hit a high of 1320 ppm Li within 200 feet averaging 845 ppm Li, including 70 feet averaging 1026 ppm Li starting at 5 feet from surface. Hole #14 hit a high of 1730 ppm Li within 225 feet averaging 900 ppm Li, including 55 feet averaging 1046 ppm Li starting at 15 feet from surface.
Spearmint Resources Inc. announced that the first phase of exploration drilling, completed in 2018 on its McGee Lithium Clay Project, has intersected lithium values 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.
The ‘McGee Lithium Clay Project’ directly borders Cypress Development Corp (CYP – TSX.v, CYDVF – USA) and Pure Energy Minerals Limited (PE – TSX.v, PEMIF – USA). Pure Energy is in the only known lithium-bearing brine basin in North America that is in production and Spearmint is very pleased to be in this area. Regarding other lithium clay projects within the Clayton Valley, there has been exciting news recently. On October 13, 2021, Cypress Development Corp (CYP – TSX.v, CYDVF – USA) announced “the assembly of the pilot plant for the company’s 100-per-cent-owned Clayton Valley lithium project in Nevada is complete. The pilot plant is located at a metallurgical facility approximately 100 miles south of the project. Purchasing of items for the pilot plant began in March and work progressed through the summer. With assembly and operational testing of component equipment finished, test extraction of lithium from the project’s sample material will begin. The pilot plant will utilize chloride-based leaching combined with the Chemionex–Lionex process for direct lithium extraction (DLE), as described in previous announcements.”
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. Frank Bain, 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 website.