$SPMT - Email Response ..... Thank you for your interest in SPMT - Spearmint Resources Inc.
There are many compelling developments coming ahead for the Company. Spearmint is now in its best financial position in corporate history with approximately $2 million in the treasury and will be very active on multiple projects through 2021 with a robust stream of news flow.
In recent news, Spearmint has now sent samples for metallurgical testing after discovering 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). 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.
On Tesla Battery Day, held on September 22, 2020, Tesla’s Elon Musk announced their intention to acquire Nevada lithium clay projects and their overwhelming need to secure domestic lithium deposits to feed their Gigafactory. Schlumberger Limited (NYSE: SLB) is currently drilling the Clayton Valley deep brine lithium area directly bordering Spearmint’s ‘Clayton Valley Lithium Projects’. In other recent news, on January 7th, 2021, Albemarle Corp (ALB—NYSE) announced their plan to ‘expand capacity at the company’s lithium production facility at Silver Peak in Clayton Valley, Nevada., and begin a program to evaluate clays and other available Nevada resources for commercial production of lithium, a critical mineral and key component in advancing green mobility and a more sustainable future’’. The following link contains further comments from Elon Musk regarding Nevada lithium clay deposits:
https://cleantechnica.com/2020/11/24/elon-musk-shares-battery-vehicle-updates-at-european-conference-1000-kilometer-range-vehicle-under-development/
With lithium prices breaking out, focus on the commodity is on the rise as is clear from the 1-year and 5-year charts below:
Spearmint Resources has also recently discovered positive gold indicators with values as high as 973 ppb gold from the Phase I work program on its 100% owned ‘Goose’ Gold Project. This project directly borders, and is the closest to, the discovery made by New Found Gold (NFG.v). New Found Gold had recent drill intercepts of 92.9 g/t Au over 19.0m which was one of the best drill intercepts globally in 2020. On Spearmint's the Hammernose Gold Project in BC, a recently completed Phase II work program has discovered its highest gold values to date.
In addition, Spearmint has just completed the sampling portion of its phase I work program that is now underway on the ‘Perron-East Gold Project’ in Quebec. This project is located in the direct vicinity of Amex Exploration Inc. (AMX.v) who has an approximate $250 million market capitalization versus Spearmint’s which is currently under ~$10 million in market capitalization.
As you can see, management is very optimistic about 2021 and would be happy to explain the company's game plan.
Thank you for your time and consideration.
James Nelson
President
Spearmint Resources Inc.
1604-646-6903
www.spearmintresources.ca