- Mining company, Spearmint Resources (SPMT) has received an exploration permit from the Government of Newfoundland and Labrador
- The permit is for the company’s Goose gold project, which borders the Queensway project owned by New Found Gold (NFG)
- Spearmint has now mobilised crews, who will immediately begin conducting a work program at the Goose gold project
- New Found Gold’s neighbouring project recently intersected excellent drill results, which bodes well for Spearmint’s nearby claim
- Spearmint Resources (SPMT) remains unchanged and is currently trading at C$0.055 per share
Mining company, Spearmint Resources (SPMT) has received an exploration permit from the Government of Newfoundland and Labrador.
The permit pertains to the company’s wholly owned Goose gold project, which covers 185 acres of land in Newfoundland. The project directly borders the north-west corner of the Queensway project, which is owned by TSXV-listed New Found Gold (NFG).
Earlier this year, New Found Gold reported one of the best drill intercepts in the world for 2020 at the Queensway project.
This excellent drill intercept result in a neighbouring project does not guarantee that the Goose gold project will see similar intercepts. It does, however, bode well for the possibility of mineralisation within Spearmint’s nearby claim.
In August of this year, the company engaged Ridgeline Exploration to carry out a work program at the Goose gold project. With the permit now in hand, Spearmint has mobilised crews, who will immediately begin work onsite.
Spearmint Resources’ President, James Nelson, commented on the company’s ability to progress at the project.
“We are pleased to have received our permit for this highly prospective gold project.
“Our neighbour New Found Gold has recently commenced a 100,000-metre drill program where they had recent drill intercepts of 92.9 g/t Au over 19.0 metres, which was one of the best drill intercepts globally in 2020, so we are thrilled to have our work program beginning shortly.
“We will also actively see drills turning on our Clayton Valley Clay Project next week, and are formulating plans for a work program on our Perron East gold project in the vicinity of Amex Exploration,” he said.
Spearmint Resources (SPMT) remains unchanged and is trading for C$0.055 cents per share, as of 1:03pm EDT.