Subscribe
Be the first with the news that moves the market- Spearmint Resources (SPMT) has contracted Harrison Land Services to carry out a drill program at its Clayton Valley Lithium Project in Nevada, USA
- The multi-hole program will test a known zone of lithium mineralisation within the project’s McGee property
- Drilling work follows the success of a previous program in 2018 and is hoped to further define the company’s understanding of the project
- These earlier drilling activities returned significant results, including lithium as high as 1,670 parts per million on the McGee property
- Spearmint Resources (SPMT) is currently steady and is trading at 6.5 cents per share
Spearmint Resources (SPMT) has contracted Harrison Land Services to carry out a drill program at its Clayton Valley Lithium Project in Nevada, USA.
The project is comprised of two separate claims, the Elon and McGee properties, which together cover a total of 1,160 acres. These claims border other projects owned by Pure Energy and Cypress Development, whose completed drill programs suggest a strong potential for the discovery of lithium-bearing brines.
Drilling activities will focus on a multi-hole program, which has been designed to test a known zone of clayitone-hosted lithium mineralisation within the project’s McGee property.
The program follows the success of an earlier drilling campaign that was completed in early 2018 and returned significant results, including lithium intersections as high as 1,670 parts per million on the McGee property.
James Nelson, President of Spearmint Resources, said he is pleased to have retained Harrison Land Services for the work, which has an extensive amount of experience in Nevada’s Clayton Valley.
“Our initial drill program was successful, and we are optimistic that a second series of drill holes could help define our project.
“Lithium and battery metals in general have been enjoying positive market sentiment recently as electric vehicle sales have taken off, therefore we are eagerly looking forward to commencing operations on one of our flagship properties,” he added.
James also cited an announcement from Cypress Development published on August 11 this year, which outlined a measured resource estimate of 574.1 million tonnes at an average grade of 1,081 parts per million of lithium, representing 3.3 million tonnes of lithium carbonate equivalent.
Spearmint Resources (SPMT) is currently steady at 6.5 cents per share at 11:27am EDT.
