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Spearmint Resources Receives Drill Permit for the 'McGee Lithium Project' in Clayton Valley, Nevada
Vancouver, British Columbia--(Newsfile Corp. - November 19, 2021) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spea
About this update from Adelayde Exploration Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - November 19, 2021) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the \"Company\" or \"Spearmint\") wishes to announce the Company has received a drill permit from the Bureau of Land Management (\"BLM\") for the 'McGee Lithium Clay Project' in Clayton Valley, Nevada directly bordering Cypress Development Corp. and Pure Energy Minerals Limited. Earlier this year, on June 11, 2021, Spearmint received the technical report on its 100-per-cent-owned 'McGee Lithium Clay Project' which included 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.'s qualified persons (Allan Turner, PGeol, and Derek Loveday, PGeo). The goal of the upcoming drill program will be to increase the maiden resource estimate by following the drilling recommendations provided by Stantec in the Technical Report. Spearmint's two other lithium projects in Clayton Valley, Nevada include the recently acquired 'Green Clay Lithium Project' comprised of 97 contiguous claims totaling approximately 2,000 acres, and the 'Elon Lithium Brine Project' which has access to some of the deepest parts of the only lithium brine basin in production in North America. Lithium prices have recently broken out to all-time highs, increasing by over 100-percent since August 1, 2021, and are now up over 300-percent in 2021. On November 10, 2021, Cypress Development Corp. announced it \"commenced extraction testing of lithium-bearing claystone from the company's 100-per-cent-owned Clayton Valley lithium project in Nevada. The test work is ongoing at Cypress' pilot plant in Amargosa Valley, Nevada, and utilizes chloride-based leaching combined with the Chemionex Lionex process for Direct Lithium Extraction (DLE).\" As seen on the map below, Cypress Development Corp. and Spearmint share this blanket-like, lithium-bearing claystone formation. On August 17, 2021, Pure Energy Minerals Ltd. partner Schlumberger New Energy announced receiving approval from the Bureau of Land Management (BLM) for a plan of operations covering the construction and operation of a pilot plant at Pure Energy's Clayton Valley...