Spearmint Resources (CSE: SPMT) this morning released its maiden resource estimate for its flagship Clayton Valley Lithium Clay Project which it wholly owns. The project itself is situated west of Tonopah, where it consists of 26 unpatented claims covering 360 hectares.
The maiden resource estimate on the property has indicated that the project contains an estimated 815,000 indicated tonnes and 191,000 inferred tonnes of lithium carbonate equivalent. Resources are contained in an economic pit-shell, to a depth of 163 meters below surface, based on a cut-off of 400 ppm lithium.
The estimate follows a recent 10 hole drill program conducted on the property, which encountered lithium within all assays conducted by the firm. The company has indicated it intends to conduct further drilling on the property to expand the current maiden resources.
Spearmint Resources last traded at $0.175 on the CSE.
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