Spearmint Resources Inc. (“SRJ” or the “Company”) (SRJ—TSX.V)( SPMTF—OTCBB) (A2AHL5–FSE)
wishes to announce that results from the recently completed work program on its Clayton Valley Lithium property have been received. Ninety one surface samples were collected within the lithium bearing light green colored volcanic clay that is well exposed on Spearmints McGee Claim Block covering over 880 contiguous acres in Clayton Valley. These claims are bordering directly to the east of the Pure Energy Minerals current drill program and is the closest property to Pure’s current drill location. This property lies directly in between Cypress Development Corp’s properties that Pure Energy Minerals completed a deal on with Cypress for.
Of the 91 samples collected and submitted to ALS Minerals in Vancouver, BC, all were 5 foot channel samples of the green clay and represent a good assessment of the exposed formation. Sample results indicate that the mineralized section has a minimum thickness of 250 feet. The highest sample value obtained was 1630 ppm with an overall average value of 843 ppm Li. 23 of the 91 samples achieved ppm values of over 1000 ppm. Sample results exceeded expectations and validate the proposed drilling program planned for the spring of 2017. Spearmint Resources is currently awaiting the approval of the “Notice of Intent” recently submitted to The Bureau of Land Management, Tonopah, Nevada Field Office, the approval of which is required before drilling activities can commence.
James Nelson, President of Spearmint states, “We are very pleased that the results verified what we were hoping to find on the Clayton Valley project. The Clayton Valley project is developing nicely and these results are extremely promising for us and will enable us to continue with a larger drill program in the near future. Historic and present drill programs in adjacent and nearby properties are certainly encouraging and the success of our neighbors (Pure Energy and Cypress Development) provide Spearmint with an optimal location in the Clayton Valley. It would appear that the mudstone formation hosting the lithium moves through the Cypress-Pure joint venture properties and appears to continue on our property. We are immediately formulating the next phase of operations and look forward to either attempting to develop this property ourselves or to possibly take on a partner. Management will evaluate all possible avenues going forward.”
Spearmint Resources Inc. management also continues to actively evaluate additional corporate growth drivers. The new areas that will be investigated will potentially include, but will not be limited to, additional mining areas such as base metals, minor metals, agriculture, edibles, beverages and medical situations. At this time, no new project has been completed, and there is no guarantee that one will be acceptable and approved by the board.
Frank Bain, PGeo and qualified technical person has reviewed this news release and approved the content.
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Contact Information
Tel: 1604646-6903 www.spearmintresources.ca
“James Nelson” President
Spearmint Resources Inc.
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