Vancouver-based Spearmint Resources has an-nounced it is formulating plans to launch a drill programme in Clayton Valley, in the U.S. state of Nevada, where the company currently has three separate lithium projects.
These projects include the recently acquired Green Clay lithium pro-ject that consists of 97 contiguous claims totaling approximately 2,000 acres, the Clayton Valley lithium brine project, and the Clayton Valley lithium clay project, Spearmint said in a statement.
A June 2021 technical report on the latter asset included a maiden resource estimate of some 815,000 indicated tonnes and 191,000 in-ferred tonnes for a total of about 1 million tonnes of lithium carbonate equivalent (LCE), the company said.
“Lithium prices have recently broken out to 3-year highs, having seen an approximate 68-percent surge since August 1, 2021, and are now up over 220-percent in 2021,” according to the statement.