Spearmint Acquires the George Lake South Antimony Project in New Brunswick, Canada
Rhea-AI Summary
Spearmint Resources has acquired the George Lake South Antimony Project in New Brunswick, Canada, comprising 1,945 contiguous acres. The project is located near the historic Lake George Antimony Mine, which was North America's largest primary antimony producer from 1876 to 1996. Antimony prices have more than doubled year-to-date, making it one of the best-performing commodities. The metal is important for semiconductors, electronics, battery technology, and flame retardants. The company plans to update shareholders on its crypto diversification plan in the future.
Positive
- Acquisition of 1,945 acres of antimony-prospective land
- Project located near historic Lake George Antimony Mine
- Antimony prices have more than doubled year-to-date
- Access to flow-through funding due to Canadian location
Negative
- None.
News Market Reaction
On the day this news was published, SPMTF gained 45.45%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - November 27, 2024) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spearmint") wishes to announce that it has acquired the George Lake South Antimony Project in New Brunswick, Canada. This project consists of 1,945 contiguous acres prospective for antimony.
James Nelson, President of Spearmint stated, "Year to date, antimony prices have more than doubled, making it one of the best performing commodities this year. This is a great addition to our stable of projects and being in Canada, it allows us to access flow through money if needed. Management is formulating a plan on this project and intends to update the market on Spearmints crypto diversification plan once additional information is ready. These are truly exciting times for Spearmint and Spearmint shareholders."
This new project is in the direct vicinity of the Lake George Antimony Mine in New Brunswick which was operated intermittently from 1876 to 1996 and was once the largest primary antimony producer in North America. Antimony's primary uses are:
- Semiconductors and Electronics: The growing electronics and semiconductor industries require antimony, making it a critical material for technological development, including infrared sensors and components for military and aerospace uses.
- Battery Technology: Antimony is also used in lead-acid batteries and in emerging technologies, such as energy storage and lithium-ion battery enhancements, which is a significant driver of demand in the future.
- Flame Retardants: The demand for antimony remains strong due to its use in flame-retardant materials, which are essential in a wide range of products like textiles, electronics, and plastics. As safety regulations around fire-resistant materials become stricter, the need for antimony-based compounds continues to grow.
About Spearmint Resources Inc.
Spearmint's projects include four projects in Clayton Valley, Nevada: the 1,136-acre McGee lithium clay deposit, which has a resource estimate of 1,369,000 indicated tonnes and 723,000 inferred tonnes of lithium carbonate equivalent (LCE) for a total of 2,092,000 tonnes of LCE, directly bordering Pure Energy Minerals & Century Lithium Corp.; the 280-acre Elon lithium brine project, which has access to some of the deepest parts of the only lithium brine basin in production in North America; the 124-acre Green Clay lithium project; and the 248-acre Clayton Ridge gold project and now the 1,945 acres George Lake South Antimony Project in New Brunswick.
For a cautionary note and disclaimer on the crypto diversification, please refer to the news release dated November 12, 2024.
Qualified person for mining disclosure:
The technical contents of this release were reviewed and approved by Frank Bain, PGeo, a director of the company and qualified person as defined by National Instrument 43-101.
This property was acquired via staking.
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/231560
FAQ
What is the size of Spearmint's (SPMTF) new George Lake South Antimony Project?
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