Stable lithium mining stock discovers pegmatites in Quebec

• Spearmint Resources (CSE:SPMT), a stable lithium mining stock, is unveiling new pegmatite intervals as part of the completed 2023 drill program on its Chibougamau project in Quebec
• Management views the intersections’ pending assays as “potential near-term catalysts”
• Spearmint Resources is a resource developer across numerous projects, including the McGee lithium clay project, which contains more than 2 million tonnes of lithium carbonate equivalent
• The lithium mining stock (CSE:SPMT) has lost 41.67 per cent year-over year, but is down by only 12.50 per cent since 2018

Spearmint Resources (CSE:SPMT), a stable lithium mining stock, is unveiling new pegmatite intervals as part of the completed 2023 drill program on its Chibougamau project in Quebec.

The first hole on the 1,053.82-hectare project features three pegmatite intervals of 15.1, 8.1 and 2.8 metres long from 19.5 m downhole. Assays are pending.

The second drillhole intersected a 33.95 m long interval of megacrystic gabbro containing up to 5-10 per cent disseminated magnetite. This lithology shows similarities with the vanadium showing on Cerrado Gold’s (TSXV:CERT)Mont Sorcier vanadium project.

The third drillhole intersected a large stretch of alternating anorthosite and gabbro, including a 0.5 m quartz vein with 0.5 per cent chalcopyrite from 138 to 138.5 m.

The fourth hole intersected numerous types of intrusion transitioning from anorthosite to gabbro, followed by alternance of felsic to intermediate intrusion until 183 m downhole.

The program was composed of four drillholes over 757 m targeting major features highlighted by the vertical gradient of the residual magnetic field illustrated below.

“We are excited to have encountered three pegmatite intervals in addition to encountering potential vanadium-bearing rock formation during this drill program,” James Nelson, president of Spearmint Resources, said in a statement. “Lithium companies in Quebec, such as Patriot Battery Metals (TSXV:PMET), have recently had significant global attention based on their lithium-bearing pegmatite discoveries, and we look forward to the potential near-term catalysts these drill results will provide to the company.”

Spearmint Resources is a resource development company focused on four main projects in Clayton Valley, Nevada:

• The McGee lithium clay project (1,369,000 indicated tonnes and 723,000 inferred tonnes of lithium carbonate equivalent)
• The Elon lithium brine project, which has access to the only lithium brine basin in production in North America
• The Green Clay lithium project (97 claims over 2,000 acres)
• The Clayton Ridge project (35 claims over 721 acres)

The lithium mining stock (CSE:SPMT) opened unchanged, trading at C$0.035 per share. The stock has lost 41.67 per cent year-over year, but is down by only 12.50 per cent since 2018, a remarkable feat considering the numerous negative catalysts over the period, including volatile lithium prices, high inflation and the COVID-19 pandemic.

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