Buy It or Sell It? Spearmint Resources Inc (OTCMKTS:SPMTF)

Spearmint Resources Inc (OTCMKTS:SPMTF) is trading with a mild fall in the opening session on Monday.

Market Action

In the opening session, SPMTF stock is down by 0.70% at $0.1500. The stock has traded 99K shares compared to its average volume of 282K million shares.  The stock opened at $0.1260 and moved in a range of $0.1260 – 0.1600.

Major Trigger:

Spearmint Resources Announces Maiden Resource Estimate on its Lithium Clay Project in Clayton Valley, Nevada

Key Highlights:

• announced 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.
• 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.