InvestmentPitch Media video discusses new technical report from Spearmint Resources doubling the resource estimate to 2.092 million tonnes of lithium carbonate equivalent at the McGee lithium clay deposit in the Clayton Valley, Nevada

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InvestmentPitch Media and Spearmint Resources

VANCOUVER, British Columbia, June 20, 2022 (GLOBE NEWSWIRE) — New technical report from Spearmint Resources (CSE:SPMT) (OTCPink:SPMTF) (FSE:SQH) doubles the resource estimate for the McGee Lithium Clay deposit at Clayton Valley, Nevada. The technical report, prepared by Stantec Consulting Services, includes an updated mineral resource estimate of 1,369,000 tonnes indicated and 723,000 tonnes inferred lithium carbonate equivalent for a total of 2,092,000 tonnes lithium carbonate equivalent.

A media clip accompanying this announcement is available by clicking on the image or link below:

Spearmint Resources Streaming Video Doubles Lithium Carbonate Equivalent Resource Estimate : Spearmint Resources Streaming Video Doubles Lithium Carbonate Equivalent Resource Estimate

For more information, please watch the InvestmentPitch Media video which provides additional information on this news and the company. The video can be viewed at “InvestmentPitch.com” and on “Youtube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Spearmint” in the search field.

Spearmint’s McGee lithium clay deposit is located 55 kilometers or 34 miles west of the town of Tonopah. The deposit is accessible by paved State Highway 265, which terminates at the Silver Peak mine, and then by well-maintained county gravel roads. The deposit consists of 26 contiguous unpatented placer claims extending from McGee 30 to McGee 55 and covering 890 acres or approximately 360 hectares.

The dimensions of the mineralized clay on the deposit have expanded significantly with the inclusion of four new drill holes in 2022 since the previous technical report. The aerial footprint of mineralized clay increased from 0.87 to 1.22 square miles, following the placement of the four new drill holes to the west of the property which sampled clay from lithium in an area previously interpreted to contain no lithium mineralization due to lack of supporting data. .

Exploration drilling in the deposit has identified three main geological units, a zone of mixed sediment overlying green clay which in turn overlies brown sandstone. The mixed sediments gradually cover the green clays and weather positively relative to the green clay below. Lithium mineralization is present in the green clays with high, though minor, lithium concentrations in the mixed sediments above. Lithium mineralization at depth is restricted to the green clay brown sandstone contact that extends from near surface to a maximum depth of approximately 900 feet below surface.

Resource estimates are contained within an economical pit envelope at a constant pit slope of 45° to a maximum vertical depth of 885 feet or 270 meters below surface using a benchmark cut-off grade of 300 ppm lithium to produce an eventual battery-grade lithium carbonate product.

James Nelson, Chairman, said:We are very pleased to have increased our mineral resource estimate to more than double that of our original resource estimate. We expect continued consolidation in the lithium space and this updated report adds significant value to Spearmint. Our goal is to develop this deposit in hopes of securing a national source of lithium deep in the heart of Nevada’s Clayton Valley, one of the best lithium districts in the world. The four holes drilled in 2022 have allowed us to significantly increase 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 record highs, up more than 900% since the start of 2021. Additionally, announced on March 31, 2022, President Joe Biden signed into law the Defense Production Act to increase the national production of strategic and critical materials, such as lithium and cobalt, necessary for the construction of batteries for electric vehicles and other types of energy technologies. This could provide a major catalyst and sectoral momentum for the development of domestic sources of battery metals..”

In addition to the “McGee Lithium Clay Deposit” with this new resource estimate, the company has two other lithium projects in the Clayton Valley, the “Elon Lithium Brine Project” which has access to some of the deepest parts of the single basin. lithium brine in production in North America; and the recently acquired “Green Clay Lithium Project”, consisting of 97 contiguous claims totaling approximately 2,000 acres.

Spearmint’s other major projects include the “Goose” gold project directly bordering New Found Gold Corp., where Spearmint has sampled up to 973 ppb of gold, and the Perron-Est gold project consisting of 5 blocks of mining concessions covering 11 608 acres located in the Abitibi greenstone belt. in northwestern Quebec in direct proximity to Amex Exploration’s Perron property and the former Normetal mine.

Management cautions that previous results or discoveries on properties near Spearmint are not necessarily indicative of the presence of mineralization on the Spearmint properties.

The shares are trading at $0.085. For more information about the company and its extensive portfolio of properties, please visit www.SpearmintResources.cacontact James Nelson, President, at 604-646-6903 or by email [email protected].

Disclaimer

The information in this video by Investmentpitch Media Ltd is intended for viewers only. Spearmint Resources paid a fee not exceeding $2,000 in cash to have its current press release produced in video format. Company information is based on publicly available information. Any information provided by Investmentpitch Media Ltd., through its media services should not be construed as a recommendation, suggestion or offer to buy or sell any securities, but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or representations as to the accuracy or completeness of this information. All due diligence should be performed by the viewer or their financial advisor. Investing in securities is speculative and involves risk.

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