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Clayton Valley Lithium Exploration Heats Up – Spearmint Receives Drill Permit for the ‘McGee Lithium Project’

Vancouver, British Columbia–(Newsfile Corp. – November 19, 2021) – Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company"…

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Vancouver, British Columbia–(Newsfile Corp. – November 19, 2021) – Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the “Company” or “Spearmint”) wishes to announce the Company has received a drill permit from the Bureau of Land Management (“BLM”) for the ‘McGee Lithium Clay Project’ in Clayton Valley, Nevada directly bordering Cypress Development Corp. and Pure Energy Minerals Limited. Earlier this year, on June 11, 2021, Spearmint received the technical report on its 100-per-cent-owned ‘McGee Lithium Clay Project’ which included 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.’s qualified persons (Allan Turner, PGeol, and Derek Loveday, PGeo). The goal of the upcoming drill program will be to increase the maiden resource estimate by following the drilling recommendations provided by Stantec in the Technical Report. Spearmint’s two other lithium projects in Clayton Valley, Nevada include the recently acquired ‘Green Clay Lithium Project’ comprised of 97 contiguous claims totaling approximately 2,000 acres, and the ‘Elon Lithium Brine Project’ which has access to some of the deepest parts of the only lithium brine basin in production in North America. Lithium prices have recently broken out to all-time highs, increasing by over 100-percent since August 1, 2021, and are now up over 300-percent in 2021.

On November 10, 2021, Cypress Development Corp. announced it “commenced extraction testing of lithium-bearing claystone from the company’s 100-per-cent-owned Clayton Valley lithium project in Nevada. The test work is ongoing at Cypress’ pilot plant in Amargosa Valley, Nevada, and utilizes chloride-based leaching combined with the Chemionex Lionex process for Direct Lithium Extraction (DLE).” As seen on the map below, Cypress Development Corp. and Spearmint share this blanket-like, lithium-bearing claystone formation. On August 17, 2021, Pure Energy Minerals Ltd. partner Schlumberger New Energy announced receiving approval from the Bureau of Land Management (BLM) for a plan of operations covering the construction and operation of a pilot plant at Pure Energy’s Clayton Valley, Nevada, lithium brine project, which Spearmint directly borders. Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralization on the Company’s properties.

James Nelson, President of Spearmint Resources stated, “We are very pleased to have received a drill permit from the BLM for the ‘McGee Lithium Clay Project’ in Nevada. This project directly borders Cypress Development Corp. who recently commenced extraction testing of lithium-bearing claystone at its pilot plant on our neighboring property. This region of Nevada is receiving a large global focus as lithium prices are at all-time highs on the backs of hyper-demand from the EV car companies such as Tesla, Nio, Ford, Volkswagen, General Motors, Lucid & Rivian. Since releasing the results from our last drill program in February 2021, lithium prices have gone parabolic, increasing by more than 300%. Clearly, this is an exciting time for lithium companies in Clayton Valley, Nevada, and an opportune time to be recommencing operations on our lithium holdings. Along with our Perron-East Gold Project in Quebec, we expect to have two major drill programs started before the end of the year. Spearmint currently has approximately $3 million in the treasury with no need to raise additional funds. We look forward to building upon an already active and successful year and we are about to enter a major news flow cycle. The remainder of 2021 and beyond will be an extremely active period for Spearmint with potential catalysts coming ahead on multiple projects.”

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Clayton Valley Ownership Map

To view an enhanced version of this Map, please visit:
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Qualified Person

Mr. Frank Bain, P.Geo., a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this news release.

About Spearmint Resources

Spearmint’s primary projects include three lithium projects in Clayton Valley, Nevada; the ‘McGee Lithium Clay Project’ which has 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), directly bordering Pure Energy Minerals Limited. & Cypress Development Corp.; the ‘Elon Lithium Brine Project’ which has access to some of the deepest parts of the only lithium brine basin in production in North America; and the recently acquired ‘Green Clay Lithium Project’ comprised of 97 contiguous claims totaling approximately 2,000 acres.

Spearmint’s other primary projects include the ‘Goose’ Gold project directly bordering New Found Gold Corp. where Spearmint has sampled up to 973 ppb gold, and the Perron-East Gold Project consisting of 5 mineral claim blocks covering 11,608 acres located in the Abitibi greenstone belt of northwestern Quebec in the direct vicinity of Amex Exploration Inc.‘s  Perron property and past-producing Normetal mine. For a complete list of Spearmint’s projects please visit spearmintresources.ca. Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralization on the Company’s properties.

If you would like to be added to Spearmint’s news distribution list, please send your email address to [email protected].

Contact Information
Tel: 1604646-6903
www.spearmintresources.ca

“James Nelson”
President
Spearmint Resources Inc.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104326

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Resources Top 5: Hopeful uranium stocks, an important graphite deal, and lots of imminent news flow

Aspiring graphite miner Black Rock invited to finalise agreement with Tanzanian government Cauldron Energy dusts off Yanrey uranium project, despite ……

  • Aspiring graphite miner Black Rock invited to finalise agreement with Tanzanian government
  • Cauldron Energy dusts off Yanrey uranium project, despite government opposition
  • Redstone (copper, cobalt), Latrobe (magnesium) and Empire (gold, copper, nickel, PGEs) up on no news

Here are the biggest small cap resources winners in early trade, Tuesday December 7.

 

CAULDRON ENERGY (ASX:CXU)

(Up on no news)

When the WA state government implemented a ban on most new uranium mines in 2017, CXU stopped work at its flagship ‘Yanrey’ uranium project and began searching for other dirt to play with.

It now has a historic gold project called ‘Blackwood’ in Victoria and a silica sands play called ‘Ashburton’ in WA. It is also poking around Yanrey again, which is a lot more interesting now that uranium prices are on the move.

While government support (or lack thereof) for new mines has not changed, a recent survey uncovered a bunch of “highly prospective targets for follow-up drilling” at Yanrey.

“Our ultimate objective is to explore for uranium mineralisation amenable to extraction by ISR,” CXU exec chairman Simon Youds says.

“Economic deposits of sandstone-hosted, palaeochannel-style uranium can be mined using ISR in the lowest cost quartile of uranium mined globally.”

“This characteristic makes these deposits extremely attractive for mining at any uranium price and necessarily must form the basis of any uranium resource portfolio.”

Yanrey exists within a larger uranium province that is slowly being uncovered, Youds says.

“There is potential here for a scale comparable to the best uranium-endowed province globally and that, with astute leadership, Western Australia is at the threshold of a new energy resources boom.”

At Blackwood, CXU has stumbled upon visible gold in an underground area historically excavated for access purposes only:

“The visible gold observed, coupled with the beautiful sandstone-shale contact and structurally complex geology, provides an exciting new target for drill testing,” Youds said in November.

“The observation of visible gold further increases our confidence in the remaining mineral potential of these historical mines.”

The $11.5m market cap stock is down 6% over the past month, and 30% year-to-date. It had $1.5m in the bank at the end of September.


 

REDSTONE RESOURCES (ASX:RDS)

(Up on no news)

The nanocap, which has partially bounced back from recent losses in early trade Tuesday, is drilling to grow the 38,000t copper, 535t cobalt ‘Tollu Copper Vein’ deposit, part of the ‘West Musgrave’ project in WA.

Tollu hosts “a giant swarm of hydrothermal copper rich veins” in a mineralised system covering a +5sqkm area, ~40km from OZ Minerals’ (ASX:OZL) world-class Nebo-Babel nickel-copper deposit.

A conceptual (theoretical, not real yet) exploration target suggests up to 627,000t of copper may be present, the company says.

Recent portable XRF analysis of new drilling returned hits like 16m at 2.62% copper from a 74m downhole, including 6m at 6% copper from 76m.

These will be confirmed by traditional assay, the company says. Labs are backed up to the hilt, so who knows when that will be.

RDS say exploration will continue “at the earliest opportunity” in 2022 with a deeper RC drilling program at priority targets.

The $12m market cap stock is up 30% over the past month. It had $2.6m in the bank at the end of the September quarter.

 

BLACK ROCK MINING (ASX:BKT)

It’s been a good news week for aspiring graphite miner BKT.

Today it announced it had been invited by the Mining Commission to attend a ceremony in Dar es Salaam, Tanzania on Monday 13 December “to finalise an agreement with the Government of Tanzania”.

Black Rock managing director John de Vries is currently in country and is expected to attend, BKT says.

The company has also just completed a massive 500t pilot plant run – the largest ever, it says — to send off for qualification (testing) to potential customers in North America, Asia and Europe.

This will ultimately support project financing, BKT says.

The company now needs to finalise off-take terms with cornerstone investor POSCO, and secure finance to underpin a $US116m Phase 1 development capex program.

The $183m market cap stock is down 10% over the past month, and up 115% year-to-date. It had $9.3m in the bank at the end of September.

 

LATROBE MAGNESIUM (ASX:LMG)

(Up on no news)

Early works – like fixing fences, site clean-up, contracting — are happening apace at LMG’s magnesium project in Victoria’s Latrobe Valley, with construction on an initial 1,000 tonne per annum magnesium plant due to kick off in Q1 2022.

Production starts up to 12 months later in Q4 2022.

The plant will be expanded to 10,000 tonnes per annum magnesium shortly thereafter, with further plant capacity expansion to be considered once it is operating successfully.

Magnesium has the best strength-to-weight ratio of all common structural metals and is increasingly used in the manufacture of car parts, laptop computers, mobile phones, and power tools.

In November, LMG said current magnesium price was US$6,150 per metric tonne and expected to hold.

“LMG’s revenue estimates are based upon US$3,250 per tonne which was the magnesium price in June 2021, before the China supply shortage commenced in September 2021,” it says.

“If the current price of US$6,150 per metric tonne held long term, it would increase LMG’s estimate of EBITDA for its 10,000tpa plant by some $56m.”

In 2020, world magnesium production was ~1 million tonnes, of which China supplied ~85%.  China has begun a 13-year plan to increase Mg in cars from 8.6kg to 45kg by 2030, requiring an additional 1 million tonnes of new Mg production per annum.

$131m market cap LMG is down 21% over the past month, and up 335% year-to-date. It has raised $11.5m  via placement to help fund the initial $39m 1,000tpa plant.

 

EMPIRE RESOURCES (ASX:ERL)

(Up on no news)

This busy polymetallic explorer has already drilled 13,000m so far in 2021 at the ‘Penny’s and Yuinmery’ projects in WA, with diamond drilling of some juicy gold, copper, and nickel-copper-PGE targets at Yuinmery due to kick off sometime this month.

ERL would’ve drilled even more if not for issues getting hold of a rig, something the company intends to fix in 2022.

“Our exploration plans for 2022 include the lock-in of a core drilling rig and driller for exclusive use by Empire,” chairman Michael Ruane says.

“This should assist in accelerating at least the drilling component of our exploration programs for the forthcoming period. The rig will be particularly useful for the deep drilling required for the promising Yuinmery targets (eg Smiths Well/YT01).”

The rig should be ready for commissioning this month, he says.

The $14.85m market cap stock is up 30% over the past month. It had about $3.5m in the bank at the end of November.


The post Resources Top 5: Hopeful uranium stocks, an important graphite deal, and lots of imminent news flow appeared first on Stockhead.







Author: Reuben Adams

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Energy & Critical Metals

Met testwork proves Sovereign’s Kasiya will deliver a premium natural rutile product

Special Report: Metallurgical testwork has confirmed Sovereign Metals’ Kasiya project in Malawi will deliver a premium natural rutile product, setting…

Metallurgical testwork has confirmed Sovereign Metals’ Kasiya project in Malawi will deliver a premium natural rutile product, setting the stage for the company’s landmark scoping study.

Testwork continues to demonstrate the world class nature of Sovereign’s (ASX:SVM) Kasiya deposit, with simple and conventional processing delivering levels of 95% to 97.2% TiO2 with low impurities at stand-out metallurgical recoveries ranging from 94% to 100%.

That makes Kasiya competitive on TiO2 grades with some of the world’s largest natural rutile operations like Iluka’s Sierra Rutile and Rio Tinto’s Richards Bay Minerals.

It opens the door for discussions with tier-1 offtakers in the markets for TiO2 pigment, titanium metal and welding, where customers are facing widening supply deficits in a strengthening market.

Additionally, testwork has shown conventional flotation methods can be used to produce a coarse flake graphite by-product from rutile gravity tails with 60% at a coarseness of +150µm, suggesting it will have a high basket value when sold to market.

A program at SGS Lakefield in Canada confirmed simple processing methods delivered a very coarse-flake graphite concentrate at 96.3% TGC.

“Consistently achieving premium rutile specifications with stand-out recoveries via conventional “off the shelf” processing methods reinforces the robustness of metallurgical and processing performance of the Kasiya rutile mineralisation ahead of the upcoming Scoping Study,” Sovereign managing director Dr Julian Stephens said.

“These continued very high-quality product specifications should generate further interest from end-users across the titanium sector as the global structural deficit in natural rutile supply continues to widen.”

Processed rutile being despatched to potential customers. Pic: Sovereign Metals

Kasiya scoping study round the corner

With the results in today’s announcement, Sovereign has now demonstrated the impressive metallurgical qualities of the Kasiya resource in two separate rounds of met testwork.

The testwork also confirms Kasiya will deliver strong recoveries and product specifications based on conventional off-the-shelf processing technology, which bodes well for its future development.

Proving the original results were certainly no fluke and opening the door to interest from Tier-1 offtake customers, they set up Sovereign to release a scoping study in the coming weeks.

With most of the technical disciplines now complete, mining optimisation and capital and operating cost estimations are currently being finalised.

A new indicated mineral resource estimate is also on the way after substantial resource drilling to build upon the world-class inferred resource released in June.

That confirmed Kasiya as one of the largest natural rutile deposits in the world, with an inferred resource of 644Mt at 1.01% rutile and a high-grade component of 137Mt at 1.41% rutile.

 


 

 

This article was developed in collaboration with Sovereign Metals, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post Met testwork proves Sovereign’s Kasiya will deliver a premium natural rutile product appeared first on Stockhead.



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Energy & Critical Metals

Nio Will Bounce Back With Impressive Delivery Numbers

Nio (NYSE:NIO) stock has been under pressure for the past month. The Chinese EV company suffered from the investor sell-off and the Chinese government…

Nio (NYSE:NIO) stock has been under pressure for the past month. The Chinese EV company suffered from the investor sell-off and the Chinese government crackdown.

A close-up shot of the Nio (NIO) ES8 vehicle.Source: xiaorui / Shutterstock.com

However, China is one of the top EV markets in the world and it is expected that there will be a consistent rise in the demand for EVs in the coming years. The EV market in China nearly tripled to 19% in October, according to Forbes. The market is growing bigger, and it is moving very fast.

Nio is making strong strides in the industry and has already made its presence felt with a wide product range. NIO stock is less than half of the all-time high of $66. 

Nio started the year with a bang and was trading close to $53 in January. It hit a high in February and has been declining since then. NIO stock is down 24% in the past six months, but this does not mean you can write off Nio. The company has a long way to go and there are several catalysts working in its favor.

Impressive Delivery Numbers

The entire EV industry was facing a chip shortage and had major supply chain issues which led to a dip in deliveries. Nio did not have a good October, but it did bounce back in November. It reported 3,667 deliveries in October and delivered 10,878 vehicles in November which is a 105% increase from a year ago. This brings the year-to-date deliveries in 2021 to 80,940 vehicles, a 120% increase from 2020, and the total deliveries to 156,581. 

For the fourth quarter, the company expects deliveries between 23,500 and 25,500 vehicles. That means the company will have to deliver extraordinary numbers in December to meet the projections. Considering the current situation of the market, it looks difficult for the company to meet the revenue or deliveries for the fourth quarter, and this may impact the bottom line.

However, I believe Nio should not be judged simply based on the October deliveries. The chip shortage and supply chain issues affected every automaker and it is temporary. Looking at the big picture, Nio shows strong potential to grow and meet the growing demand of consumers in the thriving EV market.

Battery as a Service Is a Major Draw

Nio recently signed an agreement with Shell (NYSE:RDS.A, NYSE:RDS.B) to build and operate the battery charging stations. It includes the installation of 100 swapping stations in China by 2025 and pilot stations in Europe in the next year. The company’s battery-as-a-service (BaaS) offers a huge advantage in the competitive market and this partnership is a clear path towards International expansion. BaaS allows consumers to buy cars without batteries and subscribe to the program to swap batteries at the stations. This reduces the cost of the car significantly. 

It is also setting up a factory at the NeoPark EV industry park in China and expects to roll out the first vehicle in the second quarter of next year. The company will have NIO day on Dec. 18,  when it expects to launch its new ET7 sedan.

The Bottom Line on NIO Stock

Do not panic due to the investor sell-off and instead load up on NIO stock in the dip. Nio is one of the top EV players in the industry and the market is only growing bigger in the coming years. The company has a lot lined up for 2022 and it will benefit investors.

A dip in delivery numbers for one month does not speak anything about the potential of the company. Look at the bigger picture and see how far Nio has come. The company is set to grow bigger on high demand and sales. 

On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. She believes in buying and holding for long-term gains. Her knowledge of words and numbers helps her write clear stock analysis.

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Author: Vandita Jadeja

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