Source: Spearmint Resources.
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  • Spearmint (SPMT) has initiated a drill program on its McGee Lithium Clay Project in Nevada
  • The program intends to increase the maiden resource estimate of over 1M tonnes of lithium carbonate equivalent
  • Lithium prices have increased by over 500 per cent since the start of 2021
  • Spearmint Resources is a mineral exploration company focused on projects in Nevada and Quebec
  • Spearmint (SPMT) is down by 3.12 per cent trading at $0.155 per share

Spearmint (SPMT) has initiated a drill program on its McGee Lithium Clay Project in Nevada.

The technical report on the project includes a maiden resource estimate of 815,000 indicated tonnes and 191,000 inferred tonnes of lithium carbonate equivalent.

The program intends to increase the maiden resource estimate by following Stantec’s drilling recommendations.

Spearmint has approximately C$3 million in treasury with no need to raise additional funds.

Spearmint’s project and Cypress Development share a blanket-like, lithium-bearing claystone formation from which the latter recently processed one tonne of claystone per day.

Lithium prices have increased by over 500 per cent since the start of 2021.

“Clearly, this is an exciting time for lithium companies in Clayton Valley, Nevada, and an opportune time to be recommencing operations on our lithium holdings,” stated James Nelson, President of Spearmint Resources. “Along with our Perron-East Gold Project in Quebec, we now have two major drill programs currently underway.”

Spearmint Resources is a mineral exploration company focused on projects in Nevada and Quebec.

Spearmint (SPMT) is down by 3.12 per cent trading at $0.155 per share as of 9:39 am EST.

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