Twitter Facebook LinkedIn YouTube

Spearmint engages Stantec Consulting to complete a potential maiden resource estimate and Technical Report for the Clayton Valley Lithium Clay Project in Nevada

Video Platform Video Management Video Solutions Video Player

The Stantec Qualified Persons have direct experience in the Tonopah area, which includes visiting Albemarle Corp.'s Silver Peak mine and Pioneer Ltd.'s Rhyolite Ridge Lithium-Boron Project and completing a resource estimate and Technical Report for American Lithium Corp. on the TLC Lithium Project.

Additional Information:

Company: Spearmint Resources
Website: http://www.SpearmintResources.ca
Stock Symbol: CSE: SPMT
Date Published: Mar 15, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Spearmint Resources has engaged Stantec Consulting Ltd. ("Stantec") to complete a potential maiden resource estimate and Technical Report for the Clayton Valley Lithium Clay Project in Nevada.

The Stantec Qualified Persons have direct experience in the Tonopah area, which includes visiting Albemarle Corp.'s Silver Peak mine and Pioneer Ltd.'s Rhyolite Ridge Lithium-Boron Project and completing a resource estimate and Technical Report for American Lithium Corp. on the TLC Lithium Project.

Spearmint's resource estimate and Technical Report are estimated to be completed by Stantec in approximately six to ten weeks.

Spearmint’s recently completed 10-hole drill program on its Clayton Valley, Nevada lithium clay project, directly bordering Cypress Development Corp, discovered lithium in every hole, achieving a 100 percent success rate.

Samples have been sent to McClelland Laboratories Inc. of Sparks, Nevada for the planned metallurgy on the lithium hosted claystone drilled on Spearmint's property, with results expected to be received in approximately two to six weeks.

The results from this recent phase of drilling, combined with assistance from the metallurgist, will enable Stantec to define a potential resource calculation.

Spearmint had strong, consistent drill results showing that the lithium is very near the surface.

Highlights included 35 feet averaging 1,343 parts per million lithium, 55 feet averaging 1,214 ppm, 35 feet averaging 1,036 ppm and 4 holes reporting average values greater than 1,000 ppm starting within 20 feet of the surface.

James Nelson, President, stated: "It is important to note that the price per tonne of Lithium Carbonate, which is a critical ingredient in lithium-ion batteries for electric cars, has increased by over 100% since December 2020, achieving its highest level since 2018. We are very excited to have engaged a world-renowned firm like Stantec to determine a potential maiden resource estimate for our Clayton Valley Lithium Clay Project in Nevada, that directly borders Cypress Development Corp. On February 9, 2021, Cypress announced a $17 million bought deal offering to further advance it's Clayton Valley Project, which clearly illustrates the strong demand of investor interest in this world class lithium district. Spearmint's recently completed drill program, that discovered lithium in all 10 out of 10 holes, was drilled directly into the shared blanket-like claystone deposit where Cypress already has total measured plus indicated resource estimates of 929.6 million tonnes averaging 1,062 ppm Li or 5.2 million tonnes LCE, announced on August 11, 2020. Clayton Valley, Nevada continues to receive significant global attention as the premier lithium address in the USA hosting the only producing lithium deposit in North America. Lithium prices are rising on the insatiable demand in batteries for Electric Vehicles and we see no sign of that hyper growth abating this decade, therefore causing a massive demand for ethically sourced, domestic lithium production. Spearmint is right now in the best financial shape in the company's history with zero need or expectation to raise any money in the foreseeable future. We are moving forward at a rapid rate right now at a time when demand for lithium is approaching all-time highs. Management is confident about the short and long-term future of Spearmint."

Spearmint also has an extensive portfolio of properties in Canada, including gold, lithium, platinum, palladium, copper, nickel, vanadium and cesium.

Spearmint’s ‘Goose’ gold project in Newfoundland, where Spearmint has sampled up to 973 ppb gold, directly borders New Found Gold Corp. (TSXV:NFG).

In Ontario, its ‘Escape Lake North’ PGM Project consists of approximately 4,000 contiguous acres directly bordering Clean Air Metals (TSXV:AIR).

Its Case Lake South Cesium Project consists of approximately 7,300 acres directly bordering Power Metals’s Case Lake Cesium Property.

The River Valley East Platinum-Palladium Prospect consists of approximately 4,700 contiguous acres directly bordering New Age Metals’ flagship River Valley Platinum Group Metals project, and its Carscallen West Gold Project consists of an approximately 2500 contiguous acres in the direct vicinity to Melkior Resources.

In Quebec, the Perron-East Gold Prospects 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 Perron property and past-producing Normetal mine; and the ‘Chibougamau Vanadium Prospect’ comprising approximately 15,500 contiguous acres directly bordering the vanadium deposit of BlackRock Metal’s ilmenite vanadium project.

Spearmint's current projects also include a large portfolio of prospects in the Golden Triangle of British Columbia, with many bordering companies with active programs, such as Aben Resources, Garibaldi Resources, as well as the recent acquisition of the 4,980 acre ‘Prickle’ property bordering Brixton Metals Corp.

In southern BC, the company’s Hammernose Gold Prospect consists of 8,685 acres bordering Westhaven Gold's Shovelnose Property in the Spences Bridge Gold Belt, and the 'Safari' Copper-Gold Prospect consisting of 9,007 contiguous acres located in the northern Quesnel Trough in North-Central BC.

Management cautions that mineralization on nearby properties may not be indicative of the presence of mineralization on Spearmint’s properties.

The shares are trading at $0.17.

For more information about the company’s portfolio of properties, please visit www.SpearmintResources.ca, contact James Nelson, President, at 604-646-6903 or email info@spearmintresources.ca.

I’m Megan Edwards for Investmentpitch Media