Wednesday brought more glad tidings from the small-cap mining industry, and again, the agent of this change is based in Vancouver.
Spearmint Resources Inc. (CNX:SPMT) announced it has expanded the 'Escape Lake North' Platinum-Palladium Project in Ontario The project now consists of approximately 4,000 contiguous acres. This new project is prospective for platinum group metals (PGM) and is located near existing infrastructure in a mining-friendly jurisdiction just north of Thunder Bay.
This 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-dollar financing to develop this property with a lead order from Eric Sprott.
Spearmint President James Nelson said, "Clean Air Metals has enjoyed a very successful commencement of trading this week. We are pleased to be able to significantly increase our acreage directly bordering this project.
Spearmint shares eased toward noon EDT on Wednesday up half a cent, or 14.3%, to four cents, on volume of 191,000 shares.
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