Spearmint receives drill permit for Goose Gold Project

Crews will be mobilised shortly to begin preparations. During the phase II work programme, a ground magnetic survey allowed the identification of a major NE-trending magnetic lineament (GG-M-01), a negative magnetic anomaly (GG_M-02) delineated in the SW of the study grid, and a moderate discontinuous magnetic lineament (GG_M-03) striking NE and parallel to GG-M-01. Several narrow, magnetic trends were also successfully mapped thanks to the high-resolution ground magnetic survey. As for the VLF-EM survey, one main relatively highly conductive axis was detected in the NW part of the study grid and four moderate conductive axes in the southern part of the Goose Gold property. All the delineated VLF-EM axes appear oriented NE-SW and some of the anomalous gold assay obtained from soil and rock samples appear to be associated with these conductive axes or located in their path. 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: “We are very pleased to have received the drill permit to conduct the maiden drill programme on our Goose Gold Project directly bordering New Found Gold Corp.’s Queensway project. Not only do we border New Found Gold, but our Goose property is approximately 1 km from their Keats Zone discovery, making this one of, if not the closest projects, to the discovery. This drill programme is funded with flow-through funds on hand which included an investment by certain funds managed by Sprott Asset Management LP. Sprott is also one of the largest shareholders of New Found Gold. Spearmint also recently announced a major upgrade to our resource estimate in Nevada on our McGee Lithium Clay Deposit, having more than doubled the previous amount of lithium carbonate equivalent (LCE) to 1 369 000 indicated t and 723 000 inferred t of LCE for a total of 2 092 000 t of LCE. We feel 2H22 could have a significant impact for our shareholders.”

Read the article online at: https://www.globalminingreview.com/exploration-development/27062022/spearmint-receives-drill-permit-for-goose-gold-project/