Spearmint Commences Operations on its Perron-East Gold Project in Quebec
Vancouver, British Columbia--(Newsfile Corp. - June 15, 2021) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company") is pleased to announce that its 2021 work program is now underway on the 100-percent owned Perron-East gold project in Quebec, located in the direct vicinity of Amex Exploration Inc. and Starr Peak Mining Ltd. Spearmint is looking to build upon the success of the Company's last work program which discovered multiple soil anomalies. Spearmint will be conducting an Induced Polarization (IP) survey over these anomalies with the expectation for a fully funded 2021 summer drill program once the highest priority drill targets are defined. 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.
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James Nelson, President of Spearmint Resources stated, "Coming fresh off the heels of our maiden resource estimate on the Clayton Valley Lithium Clay Project in Nevada, we are very pleased to immediately get right back to work on our Perron-East Gold Project in Quebec, located in the direct vicinity of Amex Exploration Inc. and Starr Peak Mining Ltd. Both of these companies have recently undertaken significant drill programs utilizing the same geological team as Spearmint (Laurentia Exploration). On June 7, 2021, Amex Exploration Inc. announced significant drill results including 6.4 m of 32.91 g/t Au at Perron. On May 5, 2021, Starr Peak Mining Ltd. announced significant drill results including 12.1 m of 23.82% ZnEq at NewMetal and have since decided to increase the size of their drill program from 5,000 to 20,000 meters. When you combine this exciting development on the Quebec gold project with the planned upcoming work program on the 'Goose' Gold Project in Newfoundland directly bordering New Found Gold Corp., and the fact we are planning to conduct follow-up work on our Lithium Clay Project in Clayton Valley, Nevada, based on the recommendations in the Stantec 43-101 Technical Report, it is clear this is one of the most exciting and transformational periods for Spearmint. Not only do we have multiple upcoming catalysts, but we are in the best financial shape in the Company's history with approximately $3.5 million in the treasury. A portion of the treasury is comprised of flow-through funds, that we will utilize on Perron-East, which include an initial investment by certain funds managed by Sprott Asset Management LP. We are very optimistic about the remainder of 2021 and beyond in terms of corporate growth for Spearmint."
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Mr. Greg Thomson, P.Geo., a director of Spearmint and 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 current projects include the 'Clayton Valley Lithium Projects' in Nevada comprised of two claim blocks totaling 1,160 acres directly bordering Pure Energy Minerals & Cypress Development Corp. where Spearmint has recently discovered lithium in all 10 out of 10 drill holes, intersecting lithium values as high as 1,840 ppm Li; the 'Goose' Gold project directly bordering New Found Gold Corp. where Spearmint has sampled up to 973 ppb gold; the 'Escape Lake North' PGM Project in Ontario consisting of ~4,000 contiguous acres directly bordering Clean Air Metals Inc.; the Case Lake South Cesium Project in Ontario consisting of ~7,300 acres directly bordering Power Metals Corp.'s Case Lake Cesium Property; the River Valley East Platinum-Palladium Prospect in Ontario consisting of approximately 4,700 contiguous acres directly bordering the River Valley Platinum Group Metals (PGM) project; the Carscallen West Gold Project in Ontario consisting of a ~2500 contiguous acres in the direct vicinity to Melkior Resources Inc.; 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 Perron property and past-producing Normetal mine; and the 'Chibougamau Vanadium Project' comprising of 15,493 contiguous acres directly bordering the vanadium deposit of BlackRock Metal's (private) Ilmenite vanadium project.
Spearmint's current projects also include a portfolio of prospects in the Golden Triangle of British Columbia; the 'Golden Triangle Gold Prospects' comprising of five separate claims blocks totaling 8,265 acres bordering GT Gold Corp, the 2,397 acre 'NEBA' Gold-Copper Project bordering Aben Resources Ltd, and the 'EL North' Nickel-Copper Project is a land package of 1,053 acres in the Eskay Creek Camp bordering Garibaldi Resources Corp, as well as the 4,980 acre 'Prickle' property bordering Brixton Metals Corp.
Spearmint's other projects in British Columbia include the 'Safari' Copper-Gold Project consisting of 9,007 contiguous acres located in the northern Quesnel Trough in North-Central BC, and the 'Hammernose' Gold Project consisting of 8,685 acres directly bordering Westhaven Gold Corp.'s Shovelnose Property in the Spences Bridge Gold Belt located in Southern British Columbia, Canada. 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.
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Spearmint Resources Inc.
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