Spearmint More Than Doubles McGee Lithium Clay Deposit Resource Estimate
The Assay - Mining investment news, insights and company profiles
Mining investment news, insights and company profiles
No Result
View All Result
Subscribe
  • Home
  • News
    • All News
    • Gold
    • Silver
    • Copper
    • Nickel
    • Lithium
    • Precious Metals
    • Base Metals
    • Battery Metals
    • Exploration
    • Development
    • Production
  • Articles
  • Assay Insights
  • Videos
    • CEO Interviews
    • Investor Discussions
  • Company Profiles
  • Magazine
  • Webinars
  • Newsletter
  • About
    • About Us
    • Our Team
    • Contact Us
    • Events
    • Partners
The Assay - Mining investment news, insights and company profiles
  • Home
  • News
    • All News
    • Gold
    • Silver
    • Copper
    • Nickel
    • Lithium
    • Precious Metals
    • Base Metals
    • Battery Metals
    • Exploration
    • Development
    • Production
  • Articles
  • Assay Insights
  • Videos
    • CEO Interviews
    • Investor Discussions
  • Company Profiles
  • Magazine
  • Webinars
  • Newsletter
  • About
    • About Us
    • Our Team
    • Contact Us
    • Events
    • Partners
No Result
View All Result
Subscribe
The Assay - Mining investment news, insights and company profiles
No Result
View All Result
Home News

Spearmint More Than Doubles McGee Lithium Clay Deposit Resource Estimate

byColin Sandell-Hay, Contributor - The Assay
1 week ago
Reading Time: 2 mins read
Spearmint More Than Doubles McGee Lithium Clay Deposit Resource Estimate

Spearmint Resources Inc. (CSE: SPMT) has received  an updated Technical Report and Mineral Resource estimate for the 100-per-cent-owned McGee Lithium Clay Deposit in Clayton Valley, Nevada.

The Technical Report includes an updated Mineral Resource estimate of 1,369,000 indicated tonnes and 723,000 inferred tonnes of lithium carbonate equivalent (LCE) for a total of 2,092,000 tonnes of LCE.

“We are very pleased to have increased our mineral resource estimate by more than double that of our maiden resource estimate,” President of Spearmint Resources, James Nelson, said.

“We foresee continued consolidation within the lithium space and this updated report adds significant value to Spearmint. Our goal is to develop this deposit with the hope to secure a domestic source of lithium right in the heart of the Clayton Valley, Nevada, one of the top lithium districts in the world.

“The four holes drilled in 2022 allowed us to significantly expand the resource to the west and based on this report, further potential increases to this resource estimate are possible. Lithium prices and demand remain near all-time highs, up over 900% since the start of 2021.

“In addition, announced on March 31, 2022, President Joe Biden enacted the Defense Production Act to increase domestic production of strategic and critical materials, such as lithium and cobalt, needed to build batteries for electric vehicles and other types of energy technologies. This could provide a major catalyst and sector momentum for developing domestic sources of battery metals.”

The dimensions of the mineralised claystone on the Deposit have expanded significantly with the inclusion of four new drillholes in 2022 since the prior Loveday and Turner (2021) Technical Report. Mineralise claystone aerial footprint has expanded from 0.87 to 1.22 square miles (2.2 to 3.16 sq. km). This increase is the result of the placement of four new drillholes in the west of the Property in 2022 that sampled lithium claystone in a region previously interpreted as not containing lithium mineralization due to lack of supporting data.

The geologic model from which lithium resources are reported is an update of the 3D block model originally compiled by Loveday and Turner (2021). The resource estimates are contained within an economic pit shell at constant 45° pit slope to a maximum vertical depth of 885 ft (270 m) below surface using a base case cutoff grade of 300 ppm lithium to produce an eventual battery grade lithium carbonate product.

The following costs, recoveries and revenue, in metric units and US$, were used to derive a base case cutoff grade for an eventual lithium carbonate (Li2CO3) product:

  • Mining costs US$2.50/tonne;
  • Processing costs US$15/tonne;
  • Processing recovery 80%; and
  • US$14,000/tonne revenue for Li2CO3 product.

For further information please visit: https://www.spearmintresources.ca/

Tags: Battery MetalsCSE:SPMTExplorationLithiumNevadaUSA
TweetShareSend
Previous Post

Mantaro Precious Metals

Next Post

Amex Exploration Uncovers Copper-Rich VMS Intercepts In QF Zone

Related Posts

ARR Receives Outstanding Rare Earth Assay Results At Halleck Creek
News

ARR Receives Outstanding Rare Earth Assay Results At Halleck Creek

byColin Sandell-Hay, Contributor - The Assay
28 June, 2022
Sayona Aims To Take Advantage Of Quebec Lithium Interest
Feature Story

EV Manufacturers Racing to Sign Up Battery Metals Supplies

byColin Sandell-Hay, Contributor - The Assay
28 June, 2022
Nova Minerals Confirms Continuous Mineralisation And Visible Gold At RPM North
News

Nova Minerals Confirms Continuous Mineralisation And Visible Gold At RPM North

byColin Sandell-Hay, Contributor - The Assay
28 June, 2022
Antilles Unveils 25% Increase In Resources for Cuban Project
News

Antilles Unveils 25% Increase In Resources for Cuban Project

byColin Sandell-Hay, Contributor - The Assay
28 June, 2022
Barton Gold Completes Latest Phases Of Tarcoola And Tunkillia Drilling
News

Barton Gold Adds To Exploration War Chest With Partial Camp Disposal

byColin Sandell-Hay, Contributor - The Assay
28 June, 2022
Westhaven Gold Completes Promising Initial MRE For Shovelnose
News

Westhaven Gold Has Further Drilling Success At Shovelnose

byColin Sandell-Hay, Contributor - The Assay
27 June, 2022
Next Post
Amex Exploration Uncovers Copper-Rich VMS Intercepts In QF Zone

Amex Exploration Uncovers Copper-Rich VMS Intercepts In QF Zone

Upcoming events

06Sep

121 Mining Investment Online EMEA/Americas – 6-8 September

Online
05Oct

121 Mining Investment New York – 5-6 October

New York
06Oct

121 Mining & Energy Investment Singapore – 6-7 October

Singapore
No event found!
Load More
  • Potential Zinc Shortage Raising Global Concerns for Critical Mineral

    Potential Zinc Shortage Raising Global Concerns for Critical Mineral

    0 shares
    Share 0 Tweet 0
  • Silicon a Potential Clean Energy Game Changer

    0 shares
    Share 0 Tweet 0
  • The Assay Guide to Palladium vs Platinum

    0 shares
    Share 0 Tweet 0
  • ESG Funds Supporting Mining’s Future

    0 shares
    Share 0 Tweet 0
  • Ready to Supply the World

    0 shares
    Share 0 Tweet 0
  • Home
  • News
  • Articles
  • Investor Discussions
  • CEO Interviews
  • Company Profiles
  • Newsletter
  • Magazine
  • About Us
  • Our Team
  • Contact Us
Part of Hyve Group Plc

Please note: This Web site and The Assay magazine and the information and materials on this Web site and in The Assay magazine are not, and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, any regulated products, securities or investments. This Web site and The Assay Magazine do not, and should not be construed as acting to, sponsor, advocate, endorse or promote any regulated products, securities or investments. This Web site and The Assay magazine and the information and materials on this Web site and in The Assay magazine do not, and shall not be construed as, making any recommendation or providing any investment or other advice with respect to the purchase, sale or other disposition of any regulated products, securities or investments, including, without limitation, any advice to the effect that any mining or metals related transaction is appropriate or suitable for any investment objective or financial situation of a prospective investor. A decision to invest in any regulated products, securities or investments should not be made in reliance on any of the information or materials on this Web site or in The Assay magazine. Before making any investment decision, prospective investors should seek advice from appropriately qualified and licensed financial, legal, tax and accounting advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.

Privacy Policy

© 2022 The Assay

No Result
View All Result
  • Home
  • News
    • All News
    • Gold
    • Silver
    • Copper
    • Nickel
    • Lithium
    • Precious Metals
    • Base Metals
    • Battery Metals
    • Exploration
    • Development
    • Production
  • Articles
  • Assay Insights
  • Videos
    • CEO Interviews
    • Investor Discussions
  • Company Profiles
  • Magazine
  • Webinars
  • Newsletter
  • About
    • About Us
    • Our Team
    • Contact Us
    • Events
    • Partners

Please note: This Web site and The Assay magazine and the information and materials on this Web site and in The Assay magazine are not, and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, any regulated products, securities or investments. This Web site and The Assay Magazine do not, and should not be construed as acting to, sponsor, advocate, endorse or promote any regulated products, securities or investments. This Web site and The Assay magazine and the information and materials on this Web site and in The Assay magazine do not, and shall not be construed as, making any recommendation or providing any investment or other advice with respect to the purchase, sale or other disposition of any regulated products, securities or investments, including, without limitation, any advice to the effect that any mining or metals related transaction is appropriate or suitable for any investment objective or financial situation of a prospective investor. A decision to invest in any regulated products, securities or investments should not be made in reliance on any of the information or materials on this Web site or in The Assay magazine. Before making any investment decision, prospective investors should seek advice from appropriately qualified and licensed financial, legal, tax and accounting advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.

Privacy Policy

© 2022 The Assay

Go to mobile version