- Spearmint (SPMT) has hired Harris Exploration Drilling and Associates to drill its McGee Lithium Project in Nevada
- The property’s NI 43-101 maiden resource estimate includes 815,000 tons indicated and 191,000 tons inferred of lithium carbonate equivalent
- The upcoming drill program aims to increase the maiden resource estimate to capitalize on lithium’s 300-per-cent rise year-to-date
- Spearmint Resources is a mineral exploration company focused on projects in Nevada and Quebec
- Spearmint (SPMT) closed up by 12.5 per cent trading at $0.18 per share
Spearmint (SPMT) has hired Harris Exploration Drilling and Associates to drill its McGee Lithium Project in Nevada.
Stantec’s technical report on the company’s 100-per-cent owned project includes an NI 43-101 maiden resource estimate of 815,000 tons indicated and 191,000 tons inferred of lithium carbonate equivalent.
The upcoming drill program aims to increase the maiden resource estimate based on recommendations in the report.
The program comes as lithium prices have broken out to all-time highs, having seen a 100-per-cent surge since August 1, 2021, and a 300-per-cent gain since January.
James Nelson, President of Spearmint Resources, stated,
“We are very pleased to have contracted Harris for the upcoming drill program on the McGee Lithium Clay Project in Clayton Valley, Nevada. Harris Exploration is not only familiar with our project, having conducted our first drill program, but is one of the most reputable and professional drilling companies operating in Nevada with extensive knowledge and experience drilling for lithium.
There has been massive market attention focused on lithium in Nevada recently; as such, drill rigs are at a premium and Spearmint will be one of the few companies to have secured a drill rig within this current lithium exploration rush. Clearly, this is an opportune time to be recommencing operations on our lithium holdings in Clayton Valley, Nevada.
Spearmint still has approximately C$3 million in the treasury; we are well funded for multiple planned drill and work programs in the U.S. and Canada with no need to raise additional funds. The remainder of 2021 and beyond will be an extremely active period for Spearmint with potential catalysts coming ahead on multiple projects.”
Spearmint Resources is a mineral exploration company focused on projects in Nevada and Quebec.
Spearmint (SPMT) closed up by 12.5 per cent trading at $0.18 per share.
