Corporate Update: Spey Subsidiary Tech One Lithium Resources Corp. Signs Agreement for Lithium Solvent Processing Technology
Corporate Update: Spey Subsidiary Tech One
Lithium Resources Corp. Signs Agreement for
Lithium Solvent Processing Technology
Vancouver, British Columbia--(Newsfile Corp. - June 3, 2021) -
Spey Resources Corp.
(
CSE: SPEY)
(OTC: SPEYF)
("Spey" or the "Company")
is pleased to announce that on March 18, 2021 its wholly
owned subsidiary, Tech One Lithium Resources Corp. signed a facility fee agreement to have access to
utilize the Ekosolve™ Lithium Solvent Exchange Extraction process that can efficiently manage the
processing of the brines to produce lithium carbonate with a grade higher than 99.2% and a recovery of
97%, far exceeding any ion exchange or adsorption process available to date. Ekosolve™ is licensed
to University of Melbourne, Australia.
The key advantage of the Ekosolve system is the elevated rate of lithium yield targeting 97% with 95% of
the solvent being reclaimed.
Other systems such as adsorption may achieve 72-80% yield, fractional
crystallization of 50-70%, and ion exchange up to 90%.
In adsorption and ion exchange systems, extra
processes may be required to manage the magnesium and boron in the brines whereas this is not an
issue with the Ekosolve process. Hence the capital expenditure and operating costs are anticipated to
be substantially reduced.
A significant benefit, evaporation ponds are not required, providing a more
eco-friendly solution.
Spey Resources chief executive officer and director Nader Vatanchi states, "Having access to the
Ekosolve™ lithium extraction process could potentially save significant capital costs and provides the
added benefit of being environmentally friendly.
The process has been tested and patented at the
University of Melbourne, Australia, and we are looking forward to sending our lithium brine samples there
for testing within the next week or two."
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.
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 visit the Company's public disclosure at
www.sedar.com
and
www.speyresources.ca
Contact:
Nader Vatanchi
CEO, Director
778-881-4631
www.speyresources.ca
###
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