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Be the first with the news that moves the market- Spearmint Resources (CSE:SPMT) is preparing to begin work at its Clayton Valley Lithium Projects in Nevada, USA
- The company is in the process of planning a program at its two claims in the region, the Elon and McGee properties
- Discussions are currently under way with strategic metallurgists to advise on current lithium extraction processes within claystone formations
- Previous drilling activities at the projects returned significant results, as high as 1,670 parts per million of lithium
- Spearmint Resources (SPMT) is currently steady and is trading at three cents per share
Spearmint Resources (CSE:SPMT) is preparing to begin work at its Clayton Valley Lithium Projects in Nevada, USA.
A program is currently being planned, which will focus on the company’s two separate prospective claims, the Elon and McGee properties, which cover a total land package of 800 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.
Previous drilling conducted in early 2018 at the Clayton Valley projects returned significant results, including lithium intersections as high as 1,670 parts per million.
James Nelson, President of Spearmint Resources, said he is looking forward to recommencing work at the Clayton Valley projects.
“There has been an incredibly positive trend in the lithium space recently, especially in Nevada, and we have previously had drilling success on our McGee clay formation project bordering Cypress Development.
“Additionally, we have begun discussions with strategic metallurgists currently working in the area to advise on current lithium extraction processes within claystone formations,” he added.
James also noted the commencement of Schlumberger Technology’s drill program, focused on testing and developing Pure Energy’s properties.
“When a major company like Schlumberger is drilling on the property right beside Spearmint, it is a clear indication to us that our lithium projects in Nevada and Clayton Valley garner immediate attention,” he said.
Separately, Spearmint is planning to use a portion of its flow-through cash to develop its projects in Canada over the next few months.
Spearmint Resources (SPMT) is holding steady and is trading at three cents per share at 1:42pm EDT.
