• Fri. Oct 22nd, 2021
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Spearmint Has Achieved A Major Milestone At Clayton Valley

Earlier this month, we highlighted Spearmint Resources Inc. (SPMT.CN) (SPMTF) as an opportunity that could benefit from rising demand for lithium.

Companies like Tesla Inc. (TSLA) are highly focused on acquiring lithium assets for their batteries. On September 22nd (battery day), CEO Elon Musk has previously announced his intention to acquire Nevada lithium clay projects and expressed Tesla’s overwhelming need to secure domestic lithium deposits.

A few days ago, Spearmint reported an important milestone and announced that each of the first three drill holes on its Clayton Valley lithium clay project have encountered visual clay, including intercepts of between 175-200 feet of targeted clay formation in each hole. The samples were immediately sent off to be assessed and we are bullish on the potential that is associated with the three drill holes that have been completed.

Going forward, Spearmint plans to continue to drill the remainder of its multi-hole drill program. The land that the company is drilling on directly borders Cypress Development Corp. (CYP.V) (CYDVF). We find the location of the property to be strategic and are favorable on the recent data that was reported by Cypress.

In August, Cypress reported a 55% increase in their lithium mineral resource for total measured plus indicated resource estimates of 929.6 million tons. Although the management team stated that past results on properties that are located near Spearmint may not indicate the presence of mineralization, we believe the results are supportive of the work it is doing.

In 2018, Spearmint reported to have been successful on an initial modest drill program that targeted clay that returned grades as high 1670 ppm. At the time of the drill, Spearmint’s management team believe that market conditions were anemic. In the current market environment, the management team believes that positive results could have a much more meaningful impact and we will monitor how the story advances from here.

Spearmint’s multi-hole drill program is expected to be much more robust than the program in 2018. The program may provide Spearmint with the ability to delineate a potential resource on its portion of a lithium-bearing clay deposit that is shared with Cypress. This deposit is one of the select few clay deposits that exist in Nevada and find this to be an important aspect of the Spearmint opportunity.

In the near future, Spearmint expects to receive results from the work that has been completed on the Goose Gold Project in Newfoundland which is the closest property to a major finding by New Found Gold (NFG.V) (NFGFF). When you combine the Goose Gold Project with the potential from its Perron East gold project in Quebec, we believe that Spearmint has multiple potential catalysts for growth and is an opportunity to be aware of.

If you are interested in learning more about Spearmint Resources and the properties that it owns, please send an email to support@onthebids.com with the subject “Spearmint Resources” to be added to our distribution list.

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Pursuant to an agreement between StoneBridge Partners LLC and Spearmint Resources (SPMT) we have been hired for a period of 90 days beginning September 21st, 2020 and ending December 21st, 2020 to publicly disseminate information about (SPMT) including on the Website and other media including Facebook and Twitter. We are being paid $6,500 per month (SPMT) for or were paid “ZERO” shares of unrestricted or restricted common shares. We own zero shares of (SPMT), which we purchased in the open market. We plan to sell the “ZERO” shares of (SPMT) that we hold during the time the Website and/or Facebook and Twitter Information recommends that investors or visitors to the website purchase without further notice to you. We may buy or sell additional shares of (SPMT) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.

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