Spearmint Hires Drill Contractor for the Chibougamau Project in Quebec
Vancouver, November 15, 2023 - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spearmint") wishes to announce the Company has engaged Laurentia Exploration Inc. for a 2023 drill program on the 100-per-cent owned, Chibougamau vanadium project. The project is composed of two contiguous blocs of 14 (west block) and 5 (east block) claims for a total of 776.59 acres and 277.23 hectares, and located in the direct vicinity of Lac Chibougamau, Quebec. In 2018, Spearmint conducted drone and heli-borne airborne magnetic geophysical surveys totaling 932 line-km over an area totalling approximately 3,400 hectares at 100 metre line-spacing. Data collected from this inaugural airborne survey shows the presence of multiple sharply defined areas of northeast trending magnetic susceptibility, including an anomaly measuring 9km in length.
James Nelson, President of Spearmint Resources stated, "We are pleased to be able to begin drilling the Chibougamau project shortly. This drill program will provide potential near-term catalysts for the Company."
On June 17, 2022, the Company announced that it has received the updated Technical Report and Mineral Resource estimate for the 100-per-cent-owned McGee Lithium Clay Deposit in Clayton Valley, Nevada. The Technical Report included an updated Mineral Resource estimate of 1,369,000 indicated tonnes and 723,000 inferred tonnes of lithium carbonate equivalent (LCE) for a total of 2,092,000 tonnes of LCE, more than doubling the maiden resource estimate announced on June 11, 2021. The Technical Report and Mineral Resource Estimate was prepared by Derek Loveday, P.Geo. and Mariea Kartick, P.Geo. of Stantec Consulting Services Ltd. ("Stantec") in conformity with CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines and were reported in accordance with the Canadian Securities Administrators NI 43-101.
Mr. Maxime Bouchard, P.Geo., M.Sc., (OGQ #1752), an independent Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure contained within this news release.
About Spearmint Resources
Spearmint's primary projects include four projects in Clayton Valley, Nevada; the McGee lithium clay deposit, which has a resource estimate of 1,369,000 indicated tonnes and 723,000 inferred tonnes of lithium carbonate equivalent (LCE) for a total of 2,092,000 tonnes of LCE, directly bordering Pure Energy Minerals & Century Lithium Corp.; the Elon lithium brine project, which has access to some of the deepest parts of the only lithium brine basin in production in North America; and the recently acquired Green Clay lithium project comprising 97 contiguous claims totalling approximately 2,000 acres, and the Clayton Ridge project comprising 35 contiguous claims totalling approximately 721 acres.
Spearmint's other primary projects include the Perron-East gold project consisting of five mineral claim blocks covering 11,608 acres located in the Abitibi greenstone belt of Northwestern Quebec in the direct vicinity of Amex Exploration Inc.'s Perron property and past-producing Normetal mine. For a complete list of Spearmint's projects please visit spearmintresources.ca. Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralization on the Company's properties.
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