Spearmint Drills Longest Continuous Clay Intercept to Date on the McGee Lithium Clay Project in Clayton Valley, Nevada

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Algemeen advies 21/01/2022 09:10
January 21, 2022 – Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the “Company” or “Spearmint”) is pleased to announce that the first drill hole (hole #15) of the phase III drill program on Spearmint’s 100-percent owned ‘McGee Lithium Clay Project’ in Clayton Valley, Nevada has encountered 562 feet of continuous potential lithium-bearing claystone, directly bordering Cypress Development Corp. (CYP – TSX.v, CYDVF – USA) and Pure Energy Minerals Limited (PE – TSX.v, PEMIF – USA). To date, this is the longest clay intercept discovered on the ‘McGee Lithium Clay Project’ and the farthest step-out hole to the West, approximately 2,500 feet from any previous drill hole.

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). The goal of this drill program will be to increase the maiden resource estimate by following the drilling recommendations provided by Stantec in the Technical Report. Spearmint’s two other lithium projects in Clayton Valley, Nevada include the recently acquired ‘Green Clay Lithium Project’ comprised of 97 contiguous claims totaling approximately 2,000 acres, and 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. Lithium prices continue to make new all-time highs and have increased by over 500-percent since the start of 2021.

James Nelson, President of Spearmint Resources stated, “We are extremely pleased to have discovered our longest continuous intercept of potential lithium-bearing claystone to date on our flagship project, the McGee Lithium Clay Project in Clayton Valley, Nevada. Not only has hole #15 been our longest clay intercept, but hole #15 is also located the farthest away from any previous drill hole at an approximate distance of 2,500 feet to the West. If this hole runs at economic grades of lithium, similar to what we’ve already drilled, it could potentially increase our resource estimate significantly. This is one of the longest continuous intercepts of claystone reported to date in the Clayton Valley of Nevada. We are off to a fantastic start on this phase of drilling, especially when you consider lithium prices are at all-time highs.”

McGee Lithium Clay Project – Hole #15
As seen on the map below, Cypress Development Corp. and Spearmint share this blanket-like, lithium-bearing claystone formation that Spearmint’s drill program is targeting. 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.

go to
https://www.spearmintresources.ca/2022/01/spearmint-drills-longest-continuous-clay-intercept-to-date-on-the-mcgee-lithium-clay-project-in-clayton-valley-nevada/



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