A must read: Old New release; 2021-12-16 06:12 ET - News Release
Mr. James Nelson reports
SPEARMINT COMMENCES DRILLING ON THE PERRON-EAST GOLD PROJECT IN QUEBEC
Drilling has commenced on Spearmint Resources Inc.'s 100-per-cent-owned Perron-East gold project in Quebec, located in the direct vicinity of Amex Exploration Inc. and Starr Peak Mining Ltd. The continuing drill program is aimed at different targets based on historical data and recent data acquisition. The first portion of the drill program targets the same geological context as historical showings (Turgeon Lake: up to 18.7 grams per tonne gold over 3.09 metres (GM 54287, April 29, 1996) and Rollmac: 31,298 tonnes grading 11.99 g/t Au (historical and non-compliant National Instrument 43-101, Northern Miner, July 13, 1992)). The other portion of the drill program is based on soil anomalies coupled with various chargeability anomalies in the central portion of the property. Laurentia Exploration, the same geological team that conducted significant drill programs for both Amex Exploration and Starr Peak Mining, will be overseeing all aspects of Spearmint's drill program. 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.
James Nelson, president of Spearmint Resources, stated: "We are very pleased to have now started drilling on the Perron-East gold project in Quebec, located in the direct vicinity of Amex Exploration and Starr Peak Mining. This drill program is fully funded using $1-million of flow-through funds already on hand, which included a lead investment by certain funds managed by Sprott Asset Management LP. Management also expects to commence another major drill program shortly on our McGee lithium clay project in Clayton Valley, Nevada, with the goal to build upon our 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). Spearmint shares this blanket-like lithium claystone formation with Cypress Development Corp. and lithium prices are currently at all-time highs. Spearmint has approximately $3-million in the treasury with no need to raise additional funds and we are about to enter a major news flow cycle. We are headed in 2022 with a full head of steam with potential catalysts coming ahead on multiple projects."
Qualified person
Hugues Guerin Tremblay, PGeo (OGQ No. 1584), an independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. The qualified person has not completed sufficient work to verify the historic information on the property and vicinity, particularly in regard to historical drill results. However, the qualified person believes that drilling and analytical results were completed to industry-standard practices. The information provides an indication of the exploration potential of the property but may not be representative of expected results.
About Spearmint Resources Inc.
Spearmint's primary projects include three lithium projects in Clayton Valley, Nevada: the McGee lithium clay project, which has 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), directly bordering Pure Energy Minerals Ltd. and Cypress Development Corp.; the Elon lithium brine project, which has access to some of the deepest parts of the only lithium brine basin in production in North America; and the recently acquired Green Clay lithium project, comprising 97 contiguous claims totalling approximately 2,000 acres.
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