Spey Resources Completes Geophysics at Incahuasi with Large Aquifer Identified
Spey Resources Completes Geophysics at
Incahuasi with Large Aquifer Identified
Vancouver, British Columbia--(Newsfile Corp. - July 14, 2021) - Spey Resources Corp. (CSE: SPEY)
(OTC PINK: SPEYF) (FRA: 2JS) ("
Spey
" or the "
Company
") announces that it has completed the
Transient Electro Magnetic ("TEM") survey at Incahuasi salar. The survey has identified at least two
major aquifers.
Figure 1 Line one was the northern most line and line three was the southern most line. The
frequencies used were 25 Hz and 5 Hz and noise was eliminated using different frequencies were
required. The bright pink areas have the lowest resistivity which indicated presence of potassium and
lithium.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6150/90197_c57e0686c444d950_004full.jpg
Figure 2 The lithium isobars on the surface show the concentration of lithium in two locations that
correspond with the aquifiers identified in the geophysics. The topline is line 1 and the bottom line is
3.
To view an enhanced version of Figure 2, please visit:
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The TEM lines were sampled for lithium at the surface, which is usually much lower in concentration than
in the aquifer at depth and grades of 145ppm were recorded on the surface.
Figure 3 Profile 3 shows a large continuous area close to the surface of very low resistivity. Black
circles delinate the aquifers.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6150/90197_spey.h2.jpg
We are preparing the drill locations now that the aquifers have been identified and the surface sampling
completed. 240 litres of brine from three locations have been taken and will be sent to Melbourne,
Australia to be processed by the University of Melbourne in the pilot plant facility.
Nader Vatanchi CEO commented "We are making great progress at Incahuasi salar, having identified at
least two major aquifers, ideal chemistry from the surface sampling and the project team able to mobilise
shortly to commence drilling.
Our geology team is putting together historical data with the new
geophysics and geochemistry data to optimize the drilling locations.
I'm delighted with the progress our
team has made so far."
Qualified Person
Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined
under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of
this news release, and has approved the disclosure herein.
Mr. Thomas is independent of the Company
but discloses that he is a shareholder of SPEY.
About Spey Resources Corp.
Spey Resources is a Canadian mineral exploration company which holds an option to acquire 100%
interest in the Candela II lithium brine project located in the Incahuasi Salar, Salta Province, Argentina
through its wholly owned subsidiary Tech One Lithium Resources Corp. Spey also holds an option to
acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division
of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of
Kaslo, British Columbia.
For more information, please contact:
Nader Vatanchi CEO, Director
778-881-4631
Cautionary Note Regarding Forward-Looking Statements:
Certain disclosure in this release may
constitute "forward-looking information" within the meaning of Canadian securities legislation. In
making the forward-looking statements in this release, the Company has applied certain factors and
assumptions that the Company believes are reasonable. However, the forward-looking statements in
this release, including without limitation, statements pertaining to the future exercise of the Agreement
to acquire an interest in the Property, the Company's exploration programs and the Company's
mineral property development plans, are subject to numerous risks, uncertainties and other factors
that may cause future results to differ materially from those expressed or implied in such forward-
looking statements. Such uncertainties and risks include, without limitation, financing risks, delays in
obtaining or inability to obtain required regulatory approvals, legislative, environmental and other
judicial, regulatory, political or competitive developments, exploration and operational difficulties, the
timing of future business expenditures, the potential of the Company's mineral properties and
changes in economic conditions or financial markets. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could differ materially from
those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-
looking statements. The Company does not intend, and expressly disclaims any intention or
obligation to, update or revise any forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this press
release.
To view the source version of this press release, please visit
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