Spearmint is looking to build upon the success of the Company’s last work program which discovered multiple soil anomalies
Spearmint commences operations on its Perron-East Gold Project in Quebec. (Credit: Spearmint Resources)
Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the “Company”) is pleased to announce that its 2021 work program is now underway on the 100-percent owned Perron-East gold project in Quebec, located in the direct vicinity of Amex Exploration Inc. (AMX—TSX.v) and Starr Peak Mining Ltd. (STE—TSX.v).
Spearmint is looking to build upon the success of the Company’s last work program which discovered multiple soil anomalies. Spearmint will be conducting an Induced Polarization (IP) survey over these anomalies with the expectation for a fully-funded 2021 summer drill program once the highest priority drill targets are defined. 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.
James Nelson, President of Spearmint Resources stated, “Coming fresh off the heels of our maiden resource estimate on the Clayton Valley Lithium Clay Project in Nevada, we are very pleased to immediately get right back to work on our Perron-East Gold Project in Quebec, located in the direct vicinity of Amex Exploration Inc. (AMX—TSX.v) and Starr Peak Mining Ltd. (STE—TSX.v). Both of these companies have recently undertaken significant drill programs utilizing the same geological team as Spearmint (Laurentia Exploration). On June 7, 2021, Amex Exploration Inc. announced significant drill results including 6.4 m of 32.91 g/t Au at Perron.
On May 5, 2021, Starr Peak Mining Ltd. announced significant drill results including 12.1 m of 23.82% ZnEq at NewMetal, and have since decided to increase the size of their drill program from 5,000 to 20,000 meters. When you combine this exciting development on the Quebec gold project with the planned upcoming work program on the ‘Goose’ Gold Project in Newfoundland directly bordering New Found Gold Corp. (NFG-TSX.v), and the fact we are planning to conduct follow-up work on our Lithium Clay Project in Clayton Valley, Nevada, based on the recommendations in the Stantec 43-101 Technical Report, it is clear this is one of the most exciting and transformational periods for Spearmint.
Not only do we have multiple upcoming catalysts, but we are in the best financial shape in the Company’s history with approximately $3.5 million in the treasury. A portion of the treasury is comprised of flow-through funds, that we will utilize on Perron-East, which include an initial investment by certain funds managed by Sprott Asset Management LP. We are very optimistic about the remainder of 2021 and beyond in terms of corporate growth for Spearmint.”
Source: Company Press Release