Spearmint Commences Multi Hole Drill Program on Clayton Valley Lithium Clay Project In Nevada Directly Bordering Cypress Development Corp.
SPEARMINT RESOURCES INC.
2905 - 700 West Georgia St.
Vancouver BC V7Y 1C6
Spearmint Commences Multi Hole Drill Program on Clayton Valley Lithium Clay Project In
Nevada Directly Bordering Cypress Development Corp.
September 30, 2020 - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE:
A2AHL5) (the “Company”) is pleased to announce the commencement of drilling on its Clayton
Valley lithium claystone project (the “Project”) directly bordering Cypress Development Corp.
(CYP.v) is now underway (see picture and map). Recently (Aug. 11, 2020) Cypress reported a 55%
increase in their lithium mineral resource for total measured plus indicated resource estimates of 929.6
million tonnes averaging 1,062 ppm Li or 5.2 million tonnes LCE. This drill program will be a multi
hole program targeting the lithium claystone formation.
James Nelson, President of Spearmint, stated, “There have been a lot of discussions recently regarding
Tesla and what Elon Musk said about wanting to acquire Nevada lithium cl ay projects at the Tesla
Battery Day held September 22, 2020 and their overwhelming need to secure domestic lithium
deposits to feed their Gigafactory. This drill program will follow up the past success on our initial
modest drill program targeting the clay that returned grades as high 1670 ppm. That drill program
occurred at a time when the general market conditions were anemic. This current multi hole drill
program will be much more robust and may potentially give Spearmint the ability to delineate a
potential resource on our portion of this clay deposit that we share with Cypress Development Corp
(CYP—tsxv). This deposit is one of the select few clay deposits that exist in Nevada of which Telsa
has publicly stated they covet. Not only are we starting this significant drill program, we are currently
working on the Goose Gold Project in Newfoundland being the closest property to the New Found
Gold discovery hole. As well as this we expect to commence operations in October on our Perron East
- 2 -
gold project in Quebec. As you can see, Spearmint has multiple shots on goal for potential shareholder
success and we are very optimistic about what the remainder of 2020 will bring.”
- 3 -
- 4 -
*Clayton Valley drill rig on site
- 5 -
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. 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 locate d 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.
If you would like to be added to Spearmint's news distribution list, please send your email address to
- 6 -
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.