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 prospective 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.
Spearmint Resources significantly increases ground at emerging gold district in Quebec
The “Perron-East Gold Prospects”
Spearmint Resources Inc. has acquired the Perron-East Gold Prospects consisting of 5 mineral claim blocks covering ~10,000 acres 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, and one claim block is directly bordering Osisko Metals Inc. The newly acquired Perron-East Gold property covers 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.
Spearmint’s Perron-East property is in proximity to the past-producing Normetal mine, from which approximately 10.1 million tonnes grading 2.24% copper, 5.41% zinc, 0.526 g/t gold and 44.45 g/t silver were extracted periodically between 1937 and 1975, with development down to a depth of approximately 2.4 kilometres (SIGEOM — Mine Normetal). Furthermore, on February 6 and February 13, 2020 Amex Exploration Inc. announced additional significant drill results from Perron including 2.19 g/t Au over 23.6 m and 29.4 g/t Au over 8.5 m.
PROJECT SIZE ~10,000 Acres
LOCATION Northwestern Quebec, Canada
The “El-North Nickel-Copper Prospect”
Spearmint Resources Inc. has acquired a 100 percent interest in the 1,053 acre “EL North” Nickel-Copper Prospect in the world renowned Eskay Creek Mining Camp in the Golden Triangle of British Columbia directly bordering Garibaldi Resources Corp (GGI.v). Garibaldi announced on September 1, 2017 that they “intersected two long intervals of nickel-copper sulphide mineralization totalling 176 meters and consisting of pyrrhotite-pentlandite-chalcop yrite in the first drill hole…”.
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 website.
British Columbia, Canada