Spearmint outlines 600 by 300 m anomaly at Chibougamau

Dec 6, 2018

2018-12-05 07:24 ET – News Release

Mr. James Nelson reports

SPEARMINT ENCOUNTERS 600 X 300 METRE ANOMALY ON ITS CHIBOUGAMAU VANADIUM PROSPECTS IN QUEBEC

Encouraging preliminary results have been obtained over the northeasterly block of Spearmint Resources Inc.’s Chibougamau vanadium properties. Continuing airborne (drone) magnetic surveys are being carried out over the western and southwestern blocks of the properties as well.

Several northeast-trending anomalous zones have been detected from the continuing magnetic survey. The most significant zone to date is a sharply defined area of strong magnetic susceptibility, displaying a steep gradient ranging between minus 120 nT to plus 135 nT, within a sinuous anomalous area measuring approximately 600 metres north to south by 300 to 600 m east to west.

James Nelson, president of Spearmint, stated: “We are excited to have uncovered a potential high-priority target on our vanadium prospect. Immediate follow-up work is being planned and management is expecting to have crews on the ground shortly to further investigate this specific anomaly. Additionally, the airborne magnetic surveys covering the two western blocks are expected to be completed in December. As the vanadium price per pound continues to reach all-time highs, recently breaking over $33 (U.S.) per pound, we are very excited to have uncovered this sharply defined target this early in the phase one work programs on our Chibougamau vanadium prospects.”

Spearmint’s vanadium prospects border, or are in the direct vicinity of, the vanadium deposit of BlackRock Metal’s (private) ilmenite vanadium project and Vanadium One Energy Corp.’s Mont Sorcier vanadium project. Vanadium has garnered significant market attention recently as the use of vanadium in battery storage is gaining momentum and Spearmint is very pleased to maintain a significant footprint in one of Canada’s best-known vanadium districts. Vanadium has been the best performing battery metal over the past two years going from under $5 (U.S.) per pound to recently reaching an all-time high of over $33 (U.S.) per pound. On Aug. 21, 2018, the government of Quebec announced a $248-million investment in the BlackRock Metals vanadium project and the development of the Grande-Anse sector with the total project representing investments valued at nearly $1.3-billion; this will create more than 800 jobs during the construction of the mine and mill. (Source: news release from Office of the Deputy Prime Minister, Minister of the Economy, Science and Innovation and Minister responsible for the digital agenda, Aug. 21, 2018, 9:30 a.m. EST.)

About Spearmint Resources Inc.

Spearmint’s current projects include the Chibougamau vanadium prospects comprising four separate claim blocks totalling 9,735 acres bordering, or in the direct vicinity of, the vanadium deposit of BlackRock Metal’s (private) ilmenite vanadium project and Vanadium One Energy Corp. and Spearmint’s Clayton Valley lithium prospects in Nevada comprising two claim blocks totalling 800 acres bordering Pure Energy Minerals and Cypress Development Corp.

https://spearmintresources.ca/news/