Spearmint Resources Inc. has commenced drilling at Spearmint’s 100% owned Perron-East Gold Project in Quebec, located in the direct vicinity of Amex Exploration Inc. and Starr Peak Mining Ltd.
The ongoing drill programme is aimed at different targets based on historical data and recent data acquisition. The first portion of the drill program targets the same geological context as historical showings (Turgeon Lake: up to 18.7 g/t gold [Au] over 3.09 m (GM 54287, 29 April 1996) and; Rollmac: 31 298 t grading 11.99 g/t Au (historical and non-compliant NI43-101, Northern Miner, 13 July 1992). The other portion of the drill programme is based on soil anomalies coupled with various chargeability anomalies in the central portion of the property. Laurentia Exploration, the same geological team who have conducted significant drill programmes for both Amex Exploration Inc. and Starr Peak Mining Ltd, will be overseeing all aspects of Spearmint’s drill programme. Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralisation on the company’s properties.
James Nelson, President of Spearmint Resources, stated: “We are very pleased to have now started drilling on the Perron-East gold project in Quebec, located in the direct vicinity of Amex Exploration Inc. and Starr Peak Mining Ltd. This drill programme is fully funded using CAN$1 million of flow-through funds already on hand, which included a lead investment by certain funds managed by Sprott Asset Management LP. Management also expects to commence another major drill program shortly on our ‘McGee Lithium Clay Project’ in Clayton Valley, Nevada, with the goal to build upon our maiden resource estimate of 815 000 indicated t and 191 000 inferred t for a total of 1 006 000 t of lithium carbonate equivalent (LCE). Spearmint shares this blanket like lithium claystone formation with Cypress Development Corp. and lithium prices are currently at all-time highs. Spearmint has approximately CAM$3 million in the treasury with no need to raise additional funds and we are about to enter a major news flow cycle. We are headed in 2022 with a full head of steam with potential catalysts coming ahead on multiple projects.”
Read the article online at: https://www.globalminingreview.com/exploration-development/20122021/spearmint-commences-drilling-at-perron-east-gold-project/