Spearmint Discovers Positive Gold Indicators from its Initial Work Program on the ‘Goose’ Gold Project in Newfoundland Directly Bordering New Found Gold Corp
SPEARMINT RESOURCES INC.
2905 - 700 West Georgia St.
Vancouver BC V7Y 1C6
Spearmint Discovers Positive Gold Indicators from its Initial Work Program on the
‘Goose’ Gold Project in Newfoundland Directly Bordering New Found Gold Corp.
November 12, 2020 - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE:
A2AHL5) (the “Company”) wishes to announce that the Phase I work program completed on
the Company’s ‘Goose’ Gold project, directly bordering New Found Gold Corp.’s (NFG.v)
Queensway project in Newfoundland (see map), has discovered positive Gold indicators. The
Phase I rock and soil sampling program saw the collection of 185 soil samples and 21 rock
samples across the ‘Goose’ Gold Property, located in central Newfoundland roughly 1km
northwest of New Found Gold Corp’s Keats Zone discovery which returned 92.85g/t Au over
19.0m. The high-resolution soil grid had 50m spaced samples along 100m spaced lines and
provided detailed geochemical coverage over the Property, representing the first known work on
the asset to date. The results of the survey highlight three distinct gold-in-soil anomalies located
in the northeast, southeast and western parts of the Property. The anomaly straddling the western
Property boundary is oriented in a North-South direction and has a non-continuous strike length
of 600m and 250m. In addition, one select float grab sample of a mafic volcanic unit with
stockwork quartz-carbonate veining throughout returned 973ppb gold. 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.
The Company is extremely pleased with the Phase I results considering the ‘Goose’ property’s
proximity to the Keats Zone Discovery and is planning an immediate follow up program to
- 2 -
expand on the Phase I results. During the planned phase II program, additional soil sampling
will be completed over the multiple gold-in-soil anomalies identified expanding the high-
resolution grid in these areas to include 25m x 25m spacing. Additionally, hand trenching of the
highest magnitude anomalies from the Phase I program will be completed in order to determine
the bedrock source of mineralization. The ultimate plan is to advance the Property to a trench
and drill ready stage within the coming weeks.
- 3 -
- 4 -
James Nelson, President of Spearmint, stated "We are extremely pleased to have discovered
positive gold indicators on our initial work program, in one of the most exciting gold districts in
the world. This initial success gives management a very optimistic view going forward and we
plan to formulate the next phase of work immediately on the Goose Property. Considering this
project is approximately 1 kilometer away from the New Found Gold’s Keats discovery hole
and is the closest property to that discovery, we are very encouraged by these results as we define
the highest priority drill targets on this project."
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 directly bordering New Found
Gold Corp. (NFG.v), as well as the 'Clayton Valley Lithium Prospects' in Nevada comprised 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
- 5 -
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 [email protected]
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.