Spearmint Resources Inc. has acquired two separate claim blocks in Nevada that are prospective for lithium known as the Elon property and the McGee property which cover an aggregate area of 800 acres. These two separate claim blocks border Pure Energy Minerals’ (PE.v) Clayton Valley project and Cypress Development Corp’s (CYP.v) property. Pure Energy is in the only known lithium-bearing brine in North America that is in production and Spearmint is very pleased to be in this area. Historic and recent drill programs in adjacent and nearby properties are suggestive of the potential for the discovery of lithium-bearing brines.
Of the 91 samples collected during the phase 1 work program, and submitted to ALS Minerals in Vancouver, B.C., The highest sample value obtained was 1,630 parts per million, with an overall average value of 843 parts per million lithium. Twenty-three of the 91 samples achieved values of over 1,000 parts per million. The samples ranged from a low of 285 parts per million to the high of 1,630 parts per million. Spearmint Resources has recently received approval of the NOI (notice of intent to drill) from the State of Nevada Commission on Mineral Resources to drill its 100-percent-owned Clayton Valley lithium prospect and plans to begin drilling shortly.