Today, Spearmint's direct neighbour in the Clayton Valley of Nevada, Cypress Development Corp. announced significant news for Cypress and really all the clay lithium companies in Clayton Valley. "All primary components of the Pilot Plant are operating to design. The lithium extraction and recovery areas are meeting our expectations and we are very pleased with the optimization changes completed so far, as we are now consistently producing an Intermediate Solution containing 2,700 ppm lithium with negligible impurities."(full release below) This is very significant to Spearmint as Spearmint and Cypress shares this blanket like lithium clay formation and if they are able to have their DLE work on their property, theoretically that could benefit Spearmint's property as well. There has not been an economic way to extract the lithium from the clay in Nevada yet and if this works it will be a game changer for the lithium clay companies in the Clayton Valley such as Cypress and Spearmint. Recently, Tesla filed a patent to extract lithium from clay using salt. So there are massive companies working on this extraction.
This could be a game changer for the Clayton Valley clay lithium companies.
RECENT NEW FOR SPEARMINT...HUGE LITHIUM RESULTS
These results are FAR BETTER than we hoped for. These are some of the longest intercepts with economic grades ever reported in Clayton Valley by any company to date. We fully expect that these new drill results, considering they are a good distance from our last drill program, will increase our resource calculation on this property significantly. This is coming at a time when lithium prices have just hit a brand new all-time high this week. LINK TO THE VIDEO NEWS Spearmint Drills Best Results Ever on the McGee Lithium Clay Project in Clayton Valley, Nevada, including a High of 1,810 ppm Li within a Massive 485 Feet Averaging 1,003 ppm Li
March 2, 2022 - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the “Company” or “Spearmint”) is pleased to announce that it has received the results from the phase III drill program on Spearmint’s flagship, 100-percent owned ‘McGee Lithium Clay Project’ in Clayton Valley, Nevada, directly bordering Cypress Development Corp. (CYP – TSX.v, CYDVF – USA). During this phase III drill program, Spearmint has discovered its best results achieved to date by far. Frank Bain, P.Geo and a director of Spearmint Resources stated, “These results have far exceeded our expectations of what we were hoping to discover on this phase III drill program, in the highest range of any reported drill holes in the history of Clayton Valley, Nevada.”
Results from 4 holes of the phase III program include:
- Hole-15, drilled at approximately 2,500 feet to the West of any previous drill hole, hit a high of 1,810 parts per million lithium (ppm Li) within 537 continuous feet averaging over 960 ppm Li, including 485 feet averaging 1,003 ppm Li.
- Hole-18, the farthest step-out hole to the West at approximately 3,700 feet from any previous drill hole, hit a high of 1,760 ppm Li within a substantial 652 continuous feet averaging over 895 ppm Li, including 455 feet averaging 1,004 ppm Li.
- Hole-17 hit a high of 1,390 ppm Li within 170 continuous feet averaging over 862 ppm Li, including 95 feet averaging 1,044 ppm Li.
- Hole-16 hit a high of 1,120 ppm Li.
James Nelson, President of Spearmint Resources stated, "We are extremely pleased to announce that our phase III drill program has discovered our best results ever on our flagship project, the McGee Lithium Clay Project in Clayton Valley, Nevada. Given the fact that we achieved strong, consistent lithium grades over massive intercepts on hole-15 (537 feet) & hole-18 (652 feet), and that these two drill holes were the farthest step-out holes, approximately 2,500 feet and 3,700 feet to the West of any hole drilled in previous phases of drilling on McGee, we are confident that these results should increase our resource estimate significantly. It’s clear that our next step is to incorporate these new drill results into an updated resource estimate, especially when you consider that lithium prices and demand are at all-time highs, up over 900 percent since the start of 2021”.
On June 11, 2021, Spearmint received the Technical Report on its ‘McGee Lithium Clay Project’ which included 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). The Technical Report was prepared in accordance with the requirements of National Instrument 43-101 by Stantec Consultant Ltd.'s qualified persons (Allan Turner, PGeol, and Derek Loveday, PGeo). 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.
Qualified Person
Mr. Frank Bain, P.Geo., a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this news release.
About Spearmint Resources
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 (PE.v) & Cypress Development Corp. (CYP.v) ; 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’ comprised of 97 contiguous claims totaling approximately 2,000 acres.
Spearmint’s other primary projects include the ‘Goose’ Gold project directly bordering New Found Gold Corp. (NFG.v) where Spearmint has sampled up to 973 ppb gold, and the Perron-East Gold Project consisting of 5 mineral claim blocks covering 11,608 acres located in the Abitibi greenstone belt of northwestern Quebec in the direct vicinity of Amex Exploration Inc.’s (AMX.v) Perron property and past-producing Normetal mine. For a complete list of Spearmint’s projects please visit spearmintresources.ca. 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.
If you would like to be added to Spearmint's news distribution list, please send your email address to info@spearmintresources.ca
Contact Information
Tel: 1604646-6903
www.spearmintresources.ca
"James Nelson"
President
Spearmint Resources Inc.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.
Lithium Prices continue to explode higher. A BRAND NEW ALL TIME HIGH.
CYPRESS DEVELOPMENT ANNOUNCES RESULTS FROM ITS LITHIUM EXTRACTION PILOT PLANT IN NEVADA
Cypress Development Corp. has released results from its lithium extraction pilot plant in Amargosa Valley, Nevada. The interim test results were derived from the data acquired during the 3-, 7-, and 14-day continuous operation events, which utilized claystone from the Company's Clayton Valley Lithium Project in Clayton Valley, Nevada. Results yielded a concentration of lithium into an intermediate solution product containing 2,700 parts per million ("ppm") lithium with insignificant impurities ("Intermediate Solution"). This is in line with expectations and similar to the data used in the P re- F easibility S tudy ("PFS", effective date August 5, 2020, amended March 15, 2021). This information will be incorporated in the Company's upcoming Feasibility Study currently under the direction of Wood PLC.
Highlights:
- Concentration of lithium into an Intermediate Solution containing 2,700 ppm lithium with insignificant impurities
- Overall extraction rates of lithium, within the washed tails, are between 83% and 85%
- Lithium extractions from the ion exchange in the lithium recovery area indicate separation efficiencies for lithium and major cations exceed 98%
- Sodium and potassium removal in the lithium recovery area has approached 80% with less than 0.5% lithium entrainment
- Overall impurity removal, specifically, magnesium, calcium, iron, and aluminum all exceed 99%
- Work continues at the Pilot Plant evaporation process stage to allow the integration of the treatment of the Intermediate Solution to produce a high-grade concentrated lithium solution ready for off-site conversion to a final lithium product
"All primary components of the Pilot Plant are operating to design. The lithium extraction and recovery areas are meeting our expectations and we are very pleased with the optimization changes completed so far, as we are now consistently producing an Intermediate Solution containing 2,700 ppm lithium with negligible impurities," stated Dr. Bill Willoughby, President, and CEO of Cypress Development. "Our team is working on our Pilot Plant's evaporation process to allow us to take our Intermediate Solution to a high-grade concentrated lithium solution, which is essentially our final step on-site. We expect this process to be completed and be tested in the second quarter."
Results thus far have identified preliminary extraction rates of lithium within the washed tails are between 83% and 85%. Lithium extractions from the Lionex process are 98%. Impurity removal of magnesium, calcium, iron, and aluminum are all above 99%. Sodium and potassium removal in the lithium recovery area is 80% with less than 0.5% lithium entrainment. The remaining sodium and potassium are inconsequential to the final process.
Over the coming months, the Company will continue to run tests to further optimize its Pilot Plant and enhance its process flowsheet.
Plant Update
The Pilot Plant is undergoing modifications on an ongoing basis to further improve throughput and efficiencies. These modifications include the flowsheet with the intention of simplifying the impurity removal steps prior to lithium recovery. The Company has received most of the remaining analyses of the 1,400 samples collected during continuous operating runs. These results are undergoing compilation and review with respect to flow rates and mass balances in the various areas of the Pilot Plant and will form the basis of further optimization studies. Within the lithium recovery area, the results exceed expectations, with separation efficiencies for lithium and major cations are exceeding 98% and have confirmed the successful performance, thus far, of the Chemionex's Lionex lithium recovery and concentration (direct lithium extraction or DLE) process.
Further, changes were made to the tailings handling. Based on the process, all recovered salt (NaCl), process solution, and water is recycled back into the system. No lithium recovery effects were noted with recycled solids and solutions. Changes to the tailing dewatering system has allowed lower moisture content the final tails to less than 40% moisture. Further changes are being made to allow washing additional lithium from the final tails.
Webinar
A webinar will be held by management of Cypress Development to discuss the results from its Lithium Extraction Pilot Plant on Wednesday March 30, 2022, at 8 a.m. Pacific time / 11 a.m. Eastern time. Shareholders, analysts, investors, and media are invited to join the live webcast by registering using the link below.
Link: https://my.6ix.com/sa-Wg6ln
After registering, you will receive a confirmation email containing details to access the webinar via conference call or webcast.
A replay of the webcast will be available within 48 hours on the Company's Media & Articles section of the Company's website following the conclusion of the call.
Qualified Person
Todd Fayram, MMSA-QP is the "Qualified Person" as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure contained in this news release.
About Cypress Development Corp
Cypress Development Corp. is a Canadian based advanced stage lithium exploration company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Work completed by Cypress led to the discovery of a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America's only lithium brine operation. Cypress is advancing its Clayton Valley Lithium Project in Nevada towards the production of high-purity lithium hydroxide suitable for battery construction.