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Spearmint Resources Inc.
Summary
| Project: | McGee | |
|---|---|---|
| Deposit: | McGee | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 9/19/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 19-9-2018: Spearmint Resources Inc. announces a Supporting Acquisition report for its McGee deposit at the McGee project. Summary of property in support of listing on TSX. Spearmint Resources is responsible for the preparation of this technical report tha | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Frank Bain (Independent) | |
| ABSTRACT: | Spearmint Resources is responsible for the preparation of this technical report that details the results of the recently completed four-hole exploration drilling program on the 100 percent owned McGee Lithium project in Clayton Valley, Esmeralda County, Nevada. Spearmint owns the rights to 40 lode and placer claims totaling approximately 1160 acres. The property location is shown in Figure 1. The McGee Lithium Property is located on the eastern margin of the Clayton Valley. The valley contains a thick sequence of lacustrine sediments that were deposited in an arid, closed basin of late Miocene to Early Pliocene age. The lithium mineralization at McGee is found in a devitrified volcanic ash unit that is interbedded in the lacustrine section. Active faults are present in the valley and the claystone section appears to have been displaced vertically to their present position by the Angel Island Fault. The stratigraphically higher position of the mineralized claystone above the sand and siltstone dominated basin fill in the lower portion of the formation suggests the claystone was deposited very late in the history of the basin. Devitrification of the volcanic ash formed the clay dominated stratigraphic section and released the lithium into the same formation where it was trapped or absorbed by the clay minerals formed in the alteration process. The US Geologically Survey is currently investigating the possibility that the source for the lithium and the host rock that the lithium mineralization is found in is the same. The widespread and continuous lithium mineralization that appears to be present on the McGee Claims may represent the future of lithium production in the Clayton Valley. The past history of lithium production in the Clayton Valley was from lithium in brine. That changed in 2016 when surface sampling by Noram and Cypress discovered lithium mineralization in a well exposed, thick claystone section. Surface sampling and drilling has confirmed the presence of this section and the associated lithium mineralization on the McGee Claims. Assays of drill chips and core from the 3 drill holes designed to test the claystone section were announced in April of 2018 and show good continuity of the mineralization in the claystone. Intercepts include 270 feet of 835 ppm Li in drill hole SMR-1, 220 feet of 642 ppm Li in drill hole SMR-2 and 195 feet of 772 ppm Li in drill hole SMR-3. | |
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