Spearmint Resources Inc. is actively evaluating the recently acquired Whabouchi Lakes property located in the James Bay area of the province of Quebec. Management is currently formulating the first phase of exploration. This property consists of four claims that total approximately 524 acres or 2.13 square kilometres. These claims overlay the possible source of lake sediment geochemical anomalies. The anomalous elements are bismuth, rare earth elements, lithium, niobium and tungsten, which represent good pathfinders and indicators of pegmatite-hosted type of mineralization also present at Nemaska Lithium Inc.’s (NMX.v) Whabouchi deposit.
James Nelson, director of Spearmint, states: “This new acquisition will provide Spearmint a prospect that may have significant potential for short- and long-term growth. The appetite for lithium in North America continues to grow, and we feel we are well positioned to capitalize on the demand. We plan to aggressively explore and develop this new prospect shortly, which will include prospecting and till surveys to further assess the possible source of anomalies in the lake sediments. This new lithium district has certainly garnered significant market attention recently. Nemaska Lithium Inc. has recently seen a noteworthy increase in market capitalization as they have recently updated their feasibility study. We look forward to getting to work on our lithium property shortly.”