Spearmint Completes Work Program on ‘Goose’ Gold Project in Newfoundland Directly Bordering New Found Golds’ Discovery Hole
SPEARMINT RESOURCES INC.
2905 - 700 West Georgia St.
Vancouver BC V7Y 1C6
Spearmint Completes Work Program on ‘Goose’ Gold Project in Newfoundland
Directly Bordering New Found Golds’ Discovery Hole
October 6, 2020 - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF)
(FSE: A2AHL5) (the “Company”) wishes to announce that we have completed our
phase I work program on our ‘Goose’ Gold project directly bordering New Found Golds’
(NFG.v) Queensway project in Newfoundland (see map). A total of 184 soil samples and
20 rock samples were collected during the Phase I geochemical work program. Soil
samples were collected along a high-resolution grid covering the entirety of the Property.
Prospecting identified volcanic and sedimentary rocks of the Davidsville group with
variable quartz-carbonate veined outcrops with local minor sulphides. The Company will
initiate a follow up Phase II geochemical program which will focus on the strongest
anomalies identified by the Phase I results.
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On October 2, 2020, New Found Gold provided results from NFGC-20-17, their first drill
hole targeting the Lotto zone, located 2 km North (Spearmint’s property is also located to
the North) of the high-grade Keats discovery, as part of New Found's recently commenced
100,000-metre diamond drill program at its Queensway high-grade gold project. Drill
results from NFGC-20-17 included two separate near-surface intervals of intense quartz
veining with significant sulphide and visible gold returned 41.2 grams per tonne Au over
4.75 m starting at 35 m down hole depth and 25.4 g/t Au over 5.15 m starting at 57 m
down hole depth. 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, stated "We are pleased to have completed our
phase one work program in one of the most exciting gold districts in the world. It is
encouraging that New Found Golds’ recent drill results have established a new discovery
hole 2 kilometres to the North of their original discovery. Spearmint’s property is located
to the North and is the closest to New Found Gold’s discovery hole. We look forward to
seeing what the remainder of New Found Gold’s 100,000-metre drill program work
program will uncover. As well as the excitement in Newfoundland, Nevada lithium is
generating even more enthusiasm being injected in to the lithium sector primarily by the
recent comments that Elon Musk made on Tesla’s battery day, held on September 22,
2020, where he publically stated his plan to acquire Nevada lithium in clay. Spearmint is
now underway on its multi-hole drill program in Clayton Valley, Nevada, targeting the
known lithium clay formation that we share with Cypress Development Corp. (CYP-
TSX.v), on which Spearmint’s previous drill results have returned lithium values as high
as 1670 ppm Li (see map)."
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Mr. Greg Thomson, P.Geo., a director of Spearmint and a 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 current projects include the ‘Goose’ Gold project consisting of 185 acres
directly bordering New Found Gold Corp. (NFG.v) as well as the 'Clayton Valley Lithium
Prospects' in Nevada comprising of two claim blocks totaling 1,160 acres bordering Pure
Energy Minerals (PE.v) & Cypress Development Corp. (CYP.v) where Spearmint's drill
results have intersected Lithium values as high as 1670 ppm Li; the ‘Escape Lake
North’ PGM Project in Ontario consisting of ~4,000 contiguous acres directly bordering
Clean Air Metals Inc. (AIR.v); the Case Lake South Cesium Project in Ontario consisting
of ~7,300 acres directly bordering Power Metals Corp.’s (PWM.v) Case Lake Cesium
Property; the River Valley East Platinum-Palladium Prospect in Ontario consisting of
approximately 4,700 contiguous acres directly bordering New Age Metals (NAM:CSE)
flagship River Valley Platinum Group Metals (PGM) project; the Carscallen West Gold
Project in Ontario consisting of a ~2500 contiguous acres in the direct vicinity to Melkior
Resources Inc. (MKR.v); the Perron-East Gold Prospects consisting of 5 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 (AMX.v) Perron property and
past-producing Normetal mine; and the ‘Chibougamau Vanadium Prospect’ comprising
of 15,493 contiguous acres directly bordering the vanadium deposit of BlackRock Metal’s
(private) Ilmenite vanadium project.
Spearmint's current projects also include a portfolio of prospects in the Golden Triangle
of British Columbia; the ‘Golden Triangle Gold Prospects’ comprising of five separate
claims blocks totaling 8,265 acres bordering GT Gold Corp (GTT.v), the 2,397 acre
‘NEBA' Gold-Copper Prospects bordering Aben Resources Ltd (ABN.v), and the ‘EL
North’ Nickel-Copper Prospect is a contiguous land package of 1,053 acres in the Eskay
Creek Camp bordering Garibaldi Resources Corp (GGI.v), as well as the recent
acquisition of the 4,980 acre ‘Prickle’ property bordering Brixton Metals Corp. (BBB.V).
Spearmint's other projects in British Columbia include the 'Safari' Copper-Gold Prospect
consisting of 9,007 contiguous acres located in the northern Quesnel Trough in North-
Central BC, and the ‘Hammernose’ Gold Prospect consisting of 8,685 acres directly
bordering Westhaven Gold Corp.’s (WHN.v) Shovelnose Property in the Spences Bridge
Gold Belt located in Southern British Columbia, Canada. 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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Contact Information
Tel: 1604646-6903
www.spearmintresources.ca
"James Nelson"
President
Spearmint Resources Inc.
The CSE has not reviewed and does not accept responsibility for the adequacy or
accuracy of the content of this release.