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Be the first with the news that moves the market- Spearmint Resources (SPMT) has acquired land parcels surrounding its Hammernose gold project in British Columbia
- The Hammernose project is directly adjacent to the Westhaven Shovelnose property
- Westhaven reported results from Shovelnose yesterday that went as high as 1 metre at 15.7 grams per tonne gold and 77.5 grams per tonne silver
- The Hammernose property has grown to an impressive 8,685 acres
- Spearmint Resources (SPMT) closed at C$0.04 per share yesterday
Spearmint Resources (SPMT) has acquired several new land parcels surrounding its Hammernose gold project in British Columbia.
The property, located in the Spences Bridge Gold Belt, has ballooned out to an impressive 8,685 acres that directly borders Westhaven Resource’s Shovelnose project.
They have added this to their exploration portfolio in British Columbia that also includes five seperate claims within the Golden Triangle region, which totals 8,265 acres.
Westhaven yesterday announced the maiden drill results from their project, revealing they had intersected 34 metres of gold at 1.21 grams per tonne and 3.678 grams per tonne of silver, including 1 metre at 15.7 grams per tonne of gold and 77.5 grams per tonne of silver.
This result was just 200 metres from the surface of the Shovelnose property, and gives Spearmint Resources a big shot in the arm as they look to their own drilling work.
Although the results from neighbouring properties do not necessarily mean that mineralisation will continue, the strike has certainly made Spearmint’s Hammernose property more interesting to investors.
James Nelson, President of Spearmint Resources said he is pleased to be able to significantly increase the company’s landholdings directly bordering the discovery made by Westhaven Resources.
“With the recent appreciation in the price of gold and a re-energised junior mining sector, management is optimistic regarding 2020 and plan to be active throughout the rest of the summer,” he added.
The company also commented on their plans for the summer with regard to their Lithium properties in Nevada.
The company owns two seperate lithium block properties in Nevada that it has considers to be prospective.
Spearmint completed drill work on one of the properties in 2018, but since then exploration work has stalled out on the Elon and Mcgee properties.
The company will be hoping this latest news can boost some investor interest in the junior explorer, so they can raise some cash to renew exploration work on their lithium properties.
Spearmint Resources (SPMT) closed at C$0.04 per share yesterday.
