- Spearmint Resources Inc. (SPMT) has received a drill permit from the Government of Newfoundland and Labrador Mineral Lands Division
- The permit is for the maiden exploration drill program on the company’s Goose Gold Project in Newfoundland
- The company intends to mobilize crews shortly
- Spearmint Resources Inc. is a mineral exploration company whose principal business activities include acquiring, exploring and evaluating mineral properties
- Spearmint Resources Inc. was unchanged $0.08 at 11:51 ET
Spearmint Resources (SPMT) has received a drill permit from the Government of Newfoundland and Labrador Mineral Lands Division.
The company will conduct a maiden exploration drill program on its 100-per-cent-owned Goose Gold Project, directly bordering New Found Gold Corp.’s Queensway project in Newfoundland.
The company intends to mobilize crews shortly to begin preparations.
During the phase II work program, a ground magnetic survey allowed the identification of 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.
Several narrow, magnetic trends were also successfully mapped as a result of the high-resolution ground magnetic survey.
“We are very pleased to have received the drill permit to conduct the maiden drill program on our ‘Goose Gold Project’ directly bordering New Found Gold Corp.’s Queensway project,” said James Nelson, President of Spearmint Resources.
“Not only do we border New Found Gold, but our Goose property is approximately 1 km from their “Keats Zone” discovery, making this one of, if not the closest, projects to the discovery,” he added.
Spearmint Resources Inc. is a mineral exploration company whose principal business activities include acquiring, exploring and evaluating mineral properties.
Spearmint Resources Inc. was unchanged $0.08 at 11:51 ET.