Third Canadian Programme Now Underway
Spearmint Resources Inc. (CSE: SPMT) has commenced its 2021 work programme on the 100-percent owned ‘Escape Lake North’ PGM Project in Ontario, Canada.
Consisting of approximately 4,000 contiguous acres, this project is prospective for platinum group metals (PGM) and is located near existing infrastructure in a mining-friendly jurisdiction just north of Thunder Bay, Ontario.
The project directly borders Clean Air Metals Inc.’s Thunder Bay North Project PGM deposit and is intersected by three northwest trending faults (the Hicks Lake Fault, East Dog River Fault, and Astrop Creek Fault) and is partially cross-cut by the regional east-west Lasseter Lake Fault. Clean Air has a mineral resource for its Thunder Bay North Project including a total Indicated resource of 16,285,396 tonnes at an average grade of 3.5 g/t PdEq containing 1,834,158 ounces PdEq and a total Inferred resource of 9,852,138 tonnes at an average grade of 2.1 g/t PdEq containing 663,660 ounces PdEq and are currently in the midst of a 40,000-metre drilling programme.
“We are extremely excited to have begun this initial work programme on our ‘Escape Lake North’ project directly bordering Clean Air Metals in an area hosting a world class PGM deposits,” James Nelson, President of Spearmint Resources, stated.
“This marks the third work programme we are currently in the process of undertaking for the summer. Crews are currently underway on our gold project in Quebec in the direct vicinity of Amex Exploration Inc. and Starr Peak Mining Ltd., and we expect to begin work on our ‘Goose’ Gold Project in Newfoundland directly bordering New Found Gold Corp. very shortly.
“We are well funded for all three Canadian work programmes including flow-through funds which include an initial investment by certain funds managed by Sprott Asset Management LP.
“We are very optimistic about the future of platinum group metals (PGM) and look forward to starting up operations on this project as well as the remainder of 2021 and beyond in terms of corporate growth for Spearmint.”
For further information please visit: https://www.spearmintresources.ca/