eResearch | Today’s Video-of the-Day is from InvestmentPitch Media about Spearmint Resources Inc. (CNSX:SPMT) as the Company announced they engaged with Ridgeline Exploration Services to start a work program on its Goose gold project, located within the central Newfoundland gold belt, near New Found Gold Corp.’s (TSXV:NFG) Queensway Gold project.
Based in Vancouver, Spearmint is a Canadian exploration company focused on the discovery and development of mineral assets in British Columbia, Newfoundland & Labrador, Ontario, Quebec, and Nevada.
In early August, Spearmint acquired the Goose gold project in Newfoundland that directly borders the New Found Gold discovery. During their 2019 maiden drill program, New Found Gold had a drill intercept of 92.9 g/t gold over 19.0 metre and recently raised $31.4 million in an Initial Public Offering (“IPO”).
Spearmint’s Goose gold property consists of 3 claim blocks (185 acres) and is near the Trans-Canada Highway that provides year-round access to the project.
To earn a 100-per-cent interest in the Goose Project, Spearmint will issue 2 million shares of the company to the vendor and the vendor will retain a 1.5% net smelter royalty (“NSR”) on the project.
The central Newfoundland gold belt is a region of recent gold discoveries, including Marathon Gold Corp. (NI 43-101 resource of 4 million ounces Au) at the Valentine Lake Gold project, New Found Gold at the Queensway project, and Sokoman Minerals at the Moosehead Gold project.
Spearmint’s other projects include the Clayton Valley Lithium Prospects in Nevada, the Escape Lake North PGM project in Ontario, the Perron Gold project in Quebec, and the Hammernose Gold Prospect in B.C.
The Company is expecting results from their Hammernose Gold work program, and are formulating a drill program for their Clayton Valley lithium project and a work program for their Perron Gold project.
To fund their various projects, Spearmint closed a non-brokered private placement in July, for gross proceeds of $0.7 million.
Spearmint closed the week at $0.07.
To learn more about Spearmint, you can access today’s Video-of-the-Day here:
Other recent eResearch articles related to Newfoundland mining & exploration projects:
- August 22, 2020: Maritime Resources Closes $8.7M Bought Deal Financing
- August 18, 2020: Great Atlantic Resources Corp. Receives Phase 2 Drill Permit
- August 14, 2020: New Found Gold Closes $31.4 Million IPO
Note: All numbers in CAD unless otherwise stated.
