News SPEARMINT BEGINS THE AIRBORNE MAGNETIC SURVEY PORTION OF THE PHASE I WORK PROGRAM ON THE PERRON-EAST GOLD PROJECT IN QUEBEC
Spearmint Resources Inc. has started the airborne magnetic survey portion of the phase 1 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 already been completed and results are expected back shortly. 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.
James Nelson, President of Spearmint, stated, "We are pleased to begin the airborne magnetic survey part of the phase I work program on our Perron-East gold project in Quebec which has multiple fault lines running through the property. Management anticipates the results from the sampling portion of the phase I work program to be back shortly. The team at Laurentia Exploration have significant experience in the region having done work for AMEX Exploration, as well as Starr Peak Exploration, and we look forward to what this phase I work program will uncover. In Nevada, we are still awaiting the results from the remaining 7 holes of the recently completed 10-hole drill program on our Clayton Valley Lithium Clay Project. We recently announced discovering our highest lithium values to date of 1,840 ppm Li within the first 3 completed drill holes of our 2020 drill campaign (see map below). The Nevada lithium drill program encountered the targeted potential lithium hosted claystone in every hole drilled and management is encouraged to have hit substantial intercepts of claystone at close proximity to the surface. This is the largest drill program that Spearmint has ever undertaken and we are very enthusiastic about the pending results from the remaining 7 drill holes. This drill program should enable Spearmint to begin the process to potentially determine a resource estimate for the project. Spearmint is also formulating a follow-up phase II work program for the Goose Gold project in Newfoundland, directly bordering and closest to the discovery by New Found Gold, on which we recently announced the discovery of positive gold indictors with values as high as 973 ppb gold (announced on November 12, 2020). Clearly Spearmint has several near-term catalysts ahead that could be potential game-changers for the Company."
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.
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