SPMT ProjectsWhat the company has going on right now:
Goose Gold Project:
The Phase I rock and soil sampling program saw the collection of 185 soil samples and 21 rock samples across the 'Goose' Gold Property, located in central Newfoundland roughly 1km northwest of New Found Gold Corp's Keats Zone discovery which returned 92.85g/t Au over 19.0m. The high-resolution soil grid had 50m spaced samples along 100m spaced lines and provided detailed geochemical coverage over the Property, representing the first known work on the asset to date. The results of the survey highlight three distinct gold-in-soil anomalies located in the northeast, southeast and western parts of the Property. The anomaly straddling the western Property boundary is oriented in a North-South direction and has a non-continuous strike length of 600m and 250m. In addition, one select float grab sample of a mafic volcanic unit with stockwork quartz-carbonate veining throughout returned 973ppb gold.
Although these results are not spectacular, they did find gold indicators which is a positive sign. Now they have to expand on that with a phase 2 work program. This project is interesting, but I am more interested in some of the other projects.
Perron East:
They have now completed the sampling portion of the phase I work program over Spearmint's Perron-East gold project in the direct vicinity of AMEX Exploration Inc. Laurentia Exploration, the geological team who are conducting the work program, are associated with numerous discoveries and development projects in the region. The phase I work program will include a complete compilation and evaluation of historical data, a high-resolution magnetic survey, and an extensive sampling program. The sampling portion of the phase I work program has now been completed and these samples has now been sent to ALS geochemistry for assaying. The results are expected back in approximately 6-8 weeks. The goal of this initial phase I work program is the identification of the highest priority drill-hole targets. 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.
I am looking forward to the results of this work program. Looking at some of the fault line, it looks to me like there is a good possibility of finding something there. Just my opinion.
Clayton Valley Lithium Project:
They have now completed a major 10-hole drill program that encountered the targeted potential lithium hosting claystone in every drill hole. Samples from all 10 drill holes have now been submitted for assaying with the first three holes submitted on a rush basis. The Company expects to receive the initial results back in the coming 1-3 weeks. The second to last hole drilled, #13, encountered a substantial, approximate 260 feet of continuous targeted clay starting at 5 feet from the surface. Management was not expecting hole #13 to encounter such a significant amount of continuous clay from so close to the surface.
We should see the results from the initial 3 drill holes next week. This could pan out to be something big. Just look at CYP and NRM. We want to see 900 PPM out of these drill holes.
With all the negetivity flooding the boards, I thought I would post an update on all the projects. I am close to ignoring some of these memebers. I do like seeing what they have to say but most of it is just butt hurt anger from being burned before. The projects they have ongoing all have value.
Don't let the bashers get to you people. Listen and research and make your own call. I made mistakes of listening to bashers a few times and wish i didn't.
Do your own research and decide for yourself what value the company has.
Good Luck All