Hit An Average Lithium Value Over 220Ft
Spearmint Resources Inc. (CSE: SPMT)has received positive results receipt of two more holes from the 10 hole drill programme on the Clayton Valley Lithium Claystone project in Nevada.
Hole 6 returned the best results achieved to date with an average lithium value of 966 ppm Li over 220 continuous feet, including a high value of 1490 ppm.
Hole 9 returned a high value of 950 ppm Li from a total of 155 feet drilled. Results from the remaining 5 holes are expected to be returned from the lab shortly, including hole No.13, which encountered a substantial, approximate 260 feet of continuous targeted claystone starting at five feet from the surface.
President James Nelson said these are very positive results.
“This is great news to have such a strong consistent return of lithium over such a distance. This hole highlights the potential of Spearmint’s deposit and will aid in defining a planned potential resource calculation,” Mr Nelson said.
“These results come at a most opportune time as there has been extremely important news in Clayton Valley reported by Albemarle Corp who has publicly stated (Jan. 07, 2021) their plan to ‘expand capacity at the company’s lithium production facility in Silver Peak, Nevada, and begin a programme to evaluate clays and other available Nevada resources for commercial production of lithium, a critical mineral and key component in advancing green mobility and a more sustainable future.’
“This is a tectonic event for lithium in Clayton Valley, to first have Elon Musk stating he wants to produce the lithium clays and now Albemarle.
“Spearmint is currently one of, if not the smallest market capitalized companies drilling into this lithium claystone formation in Clayton Valley. We share this blanket like lithium claystone formation with Cypress Development Corp. and Noram Ventures Inc. “Not only are these our best results to date, we are eagerly awaiting additional drilling results shortly on the remaining 5 holes, which have each encountered the targeted lithium claystone. We are very excited about the short and long-term growth prospects for Spearmint.”