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.
Spearmint Resources Inc. is pleased to announce that the first phase of exploration drilling has been completed on it’s Clayton Valley Lithium Prospect and has intersected lithium as high as 1,670 ppm Li. The three holes drilled into the clay formation all intersected lithium. Hole 1 had a range of 1670-396 ppm Li over 270 feet averaging 835 ppm Li, including 35 feet averaging 1,140 ppm Li. Hole 2 had a range of 1570-250 ppm Li averaging 642 ppm Li over 220 feet including 20 feet of 925 ppm Li. Hole 3 had a range of 1280-429 ppm Li averaging 772 ppm Li over 195 feet including 998 ppm Li over 20 feet.