- Spearmint Resources (SPMT) has completed its phase 2 work program at the Goose Gold Project in Newfoundland
- A ground magnetic survey identified a major NE-trending magnetic lineament
- Follow up work will be completed over these targets to test their extent
- Spearmint Resources is an exploration stage public company with properties in Canada and the United States
- Shares in Spearmint Resources (SPMT) are up 6.67 per cent, trading at $0.16 per share
Spearmint Resources (SPMT) has completed its phase 2 work program at the Goose Gold Project in Newfoundland.
A ground magnetic survey that was completed as part of the phase 2 program identified several magnetic features across the property, including
- A major NE-trending magnetic lineament (GG-M-01);
- A negative magnetic anomaly (GG_M-02) delineated in the SW of the study grid; and
- A moderate discontinuous magnetic lineament (GG_M-03) striking NE and parallel to GG-M-01.
James Nelson, Spearmint’s president, commented on the results.
“The discovery of a major NE-trending magnetic lineament is an exciting and step towards determining the highest priority drill targets on this project and a follow-up work program will be formulated shortly,” he said.
Follow-up work will be completed over these targets to test their extent and potential for gold-quartz veins carrying sulphides.
Spearmint has sampled up to 973 ppb gold at the Goose Gold Project, which directly borders New Found Gold’s Queensway project. Spearmint management is encouraged by recent results from New Found Gold, which announced its farthest intercept to date grading 61.5 g/t gold over 5.2 metres.
In addition to the Goose Gold Project, Spearmint is exploring the Perron-East gold project in Quebec and the McGee Lithium Clay Project in Clayton Valley, Nevada.
“Spearmint plans to have two major drill programs beginning in December 2021 [at Perron-East and McGee],” announced Mr. Nelson in today’s press release. “With approximately $3 million currently in the treasury, Spearmint is fully-funded for both major drill programs, with no need to raise additional funds.”
Spearmint Resources is an exploration stage public company with properties in Canada and the United States.
Shares in Spearmint Resources (SPMT) are up 6.67 per cent, trading at $0.16 per share as of 12:03 pm EST.