THUNDER BAY, ONT. — Spearmint Resources Inc. has acquired the Escape Lake North Platinum Group Metals (PGM) project in Ontario.
Consisting of approximately 2,500 contiguous acres, the project is prospective for PGM and is located near existing infrastructure in a mining-friendly jurisdiction just north of Thunder Bay, Ont.
The new project directly borders Clean Air Metals Inc.’s Thunder Bay North Project PGM deposit. According to the Clean Air Metals Inc. website, they have recently completed a $15 million financing to develop this property with a lead order from Eric Sprott, indicates a release.
“We are extremely pleased to have acquired this PGM project that is directly bordering this exciting world class PGM deposit,” James Nelson, president of Spearmint, stated in the release.
“The prices of platinum and palladium have been on a steady uptrend and near all-time highs. We are very optimistic about the future of the PGM and look forward to starting up operations on this new project. Spearmint will be active on multiple projects this summer at a time when the junior mining market is showing robust signs of renewed investor attention.”