Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Spearmint Resources (CSE: SPMT) has expanded its Perron-East gold prospects to 10,000 acres from approximately 2,000 acres.
The prospects are near the Normetal mine from which 10.1 million tonnes grading 2.24% copper, 5.41% zinc, 0.526 g/t gold and 44.45 g/t silver were extracted periodically between 1937 and 1975
The prospects now occupy five mineral claim blocks located in the Abitibi greenstone belt of northwestern Quebec. The new claims are situated in the direct vicinity of Amex Exploration’s (TSX-V: AMX) Perron property and past-producing Normetal mine.
According to Spearmint, the Perron-East gold prospects cover prospective ground for orogenic gold and polymetallic VMS-style mineralization in a region well known for its gold occurrences and historical production.
“Expanding our Perron-East property by approximately four times its original size gives Spearmint a significant footprint in this emerging gold district,” the company’s president, James Nelson, said in a media statement. “Management looks forward to starting operations on our recently acquired claims and Spearmint has flow-through funds on hand to carry out a work program on this property.”
