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Spearmint Resources Announces Maiden Resource Estimate on its Lithium Clay Project in Clayton Valley, Nevada
Vancouver, British Columbia--(Newsfile Corp. - June 11, 2021) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (FSE: SQH) (the "Company) i
About this update from Adelayde Exploration Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - June 11, 2021) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (FSE: SQH) (the \"Company) is very pleased to announce that it has received the Technical Report and maiden resource estimate on its 100%-owned Clayton Valley Lithium Clay Project in Nevada, USA. The Technical Report includes a maiden resource estimate of 815,000 indicated tonnes and 191,000 inferred tonnes for a total of 1,006,000 tonnes of Lithium Carbonate Equivalent (LCE). The Technical Report was prepared in accordance with the requirements of National Instrument 43-101 by Stantec Consultant Ltd. (\"Stantec\"). Stantec's qualified persons (Allan Turner, PGeol, and Derek Loveday, PGeo) have direct experience in the Tonopah area, which includes visiting Albemarle Corp.'s Silver Peak mine and ioneer Ltd.'s Rhyolite Ridge lithium-boron project and completing a resource estimate and technical report for American Lithium Corp. on the TLC lithium project. To view the 43-101 Technical Report click here. Spearmint's Project is located 55 kilometres west of the town of Tonopah. The Project is accessed off paved State Highway 265, which terminates at the Silver Peak Mine, and then by well-maintained county gravel roads. The Project consists of 26 contiguous unpatented placer claims that span from McGee 30 to McGee 55 and cover 890 acres (~360 hectares). Drilling on the east half of the Project by Spearmint has discovered a continuous, well mineralized section up to 300 feet thick. The interpreted subsurface distribution of the mineralized claystone includes mixed sediments (tuffaceous mudstone) and green clay. The mixed sediments gradationally overly the green clays and are positively weathering relative to the green clay below. The majority (greater than 80%) of the mineralized claystone comprise the green clay unit. The geologic model from which lithium resources are reported is a 3D block model. The resource estimates are contained within an economic pit-shell at a constant 45° pit slope to a maximum vertical depth of 535 ft (163 m) below surface, using a base case cut-off grade of 400 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 cut-off grade for an eventual lithium ca...